I'm absolutely going to trust a site making money shilling for gold and silver, on the solvency of a government controlling the world's reserve fiat currency. There's no way they'd lie about that to help their own interests.
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okay, so the US has way more debt than assets. how is that different from the previous year or the year before that? what’s the magic threshold that makes it “official”?
Well in the years before the financial experts still had the idea that it eventually would turn out ok. They now think it won't and to be frank, I and even my father already thought that in the 1980's and he was far from stupid.
Truly a Shitpost. Bravo sir!
A country can’t be “bankrupt”. It’s not a business.
and yet a country has to pay back debt (hi greece) and when they can't they are bankrupt.
The USD is a fiat currency. They can just print more to pay back the debt.
It would cause inflation, but they can't go bankrupt.
sure its fiat currency, but other countries don't have to accept it when its less worth than the paper the money was printed on.
The majority of the US debt is held domestically.
The amount of money they would need to print in order to pay it back, would cause the kind of inflation that bankrupts a country.
Bankruptcy is a legal term, whatever the law says that can be bankrupt can in practice be bankrupt.
It doesn't need to be a business to be able to go bankrupt. Governments have incomes, expenses and debtors. They only can't file for bankruptcy to get out of their debts, which makes it worse for the country.
They only can’t file for bankruptcy to get out of their debts
Countries do that all the time... well, not really all the time, but most decades at least one does it.
What countries do is not the same though. At least in the Netherlands when a company files for bankruptcy the judge will appoint someone to sell all the companies assets and try to pay back the debtors.
Can't wait for the firesale... I'll take pedo Donnie's mirkin of a toupee for €20
Cash flow insolvent. Morally bankrupt. We can print more cash, but morals can't be printed. Morality must be lived.
piss: i don't care if the states is bankrupt or not, but i downvoted anyway because you're apparently being serious about this lol
the pity thing is: I shouldn't be serious about it; you should.
I fart in your general direction.
you can't. that's english
Your mother is a hampster.
You made me cry.