What if the government refuses to pay up, and force the banks to write off the debts and pretend nothing happened?
By - Leon00_7
Then the confidence in the US banking system, government and economy in general falls into the shitter, the value of the dollar plummets in relation to other currencies, American companies can no longer afford to buy imports, they no longer make money on their exports and the economy is in shambles.
This is what 3rd world banana republics do. And they tend to not do well when they try this.
You should probably read up on how the national debt actually works. The vast majority of the debt is held by the social security fund.
Yeah the government isn’t going to fully shut down. I’ll get a few paid days off as a Federal employee so yay.