• macniel@feddit.org
    71·
    11 days ago

    and yet a country has to pay back debt (hi greece) and when they can’t they are bankrupt.

    • village604English
      5·
      11 days ago

      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.

      • macniel@feddit.org
        1·
        11 days ago

        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.

        • village604English
          1·
          11 days ago

          The majority of the US debt is held domestically.

      • Archangel1313@lemmy.ca
        22·
        11 days ago

        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.