Things like this happen here?
Holders of debt who refuse to be denied repayment demand their money in court? No matter if the country wants to pay or not? Argentina tried to forestall this by giving new debt instruments to replace the old ones. Not everyone chose this path.
Some holders of the original bonds want their money....Now.
I give it less than 20 years before this begins to happen with the debt of the US government.
Then what? We could, maybe, sell California. but would we get a decent price for it? )Being as how that state is already owned by their own bondholders......who will, someday, expect to be repaid.
KTKC 2015 Fundraising Challenge: THE WINNERS! - We’ve tallied every donation made between September 1 and 30, and 2015 was a record-breaking year for Kilted to Kick Cancer! Our final tally is… [drumroll ...
3 days ago