Quote:
Originally Posted by sebastian_dangerfield
Write it down. Disavow all sovereign debts owed to foreign holders, let them do the same regarding all debts we owe to them.
Full reset.
Who'll get slammed? Rentiers.
"Sorry old boys... This is what's called a 'reset.'"
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Wait, what possible reason is there to write down sovereign debt??
Debts owed by businesses and individuals, perhaps, but sovereigns should be borrowing like crazy right now (and are).
