What do you think of default on the national debt?

[matt0611]

The dollar will be massively inflated, as I don't think our politicians are honest enough to ever ever truly default.

[thoughtomator]

in other words, instead of just cheating the bondholders, they will cheat the bondholders and destroy the currency too.

[legion]

Who are the bondholders?

[The Gold Standard]

Who are the bondholders?

This is the important question. When you realize who the bondholders are then you know who is going to get fucked and who isn't. The bankers hold the vast majority of treasuries. Now, are they going to fuck the bankers? Or everyone else who holds dollars? That's right. Bend over.

[legion]

This is the important question. When you realize who the bondholders are then you know who is going to get fucked and who isn't. The bankers hold the vast majority of treasuries. Now, are they going to fuck the bankers? Or everyone else who holds dollars? That's right. Bend over.

I agree. This position is technically the constitutional one. Those that want to threaten default for political reasons are literally taking a position against the US constitution. That's why Ron Paul encourages spending decreases more than tax cuts.

[The Gold Standard]

I agree. This position is technically the constitutional one. Those that want to threaten default for political reasons are literally taking a position against the US constitution. That's why Ron Paul encourages spending decreases more than tax cuts.

Regardless of what the Constitution says, the moral solution would be to leave the bondholders holding the bag. Their poor decisions should be punished, not everyone else who is forced by law to use dollars.