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NYT Op: Is Anyone Listening to the S.&P.?

“The United States is simply not at risk of default. Default is impossible for a sovereign currency issuer.

The Standard & Poor’s rating firm should be embarrassed. “

Oh really?

AEI: Was There Ever a Default on U.S. Treasury Debt?

“In 1933, the United States intentionally defaulted on its Treasury debt, an action supported by both Congress and the Supreme Court.”

More non-U.S. examples of sovereign currency issuers defaulting on their debt at Newsbusters.

Written by BornLib

April 20, 2011 at 8:08 am

Posted in Economics

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