They can 'print' money so they may not technically default,
Posted on: July 20, 2016 at 19:09:34 CT
JeffB
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but people and institutions holding their debt are likely to get screwed.
I had a friend who got sucked into a Ponzi scheme. Before it crashed he could logically say that it had not defaulted on any of its obligations. But it was still bankrupt long before it became obvious to everyone that there was no possible way that it could pay everyone that it owed money to... at least that's the way I see it.