hi ant, <<Why would (9) default ever occur when one need just print?>>
am guessing that at some juncture the interest payment grows faster than tax in-take and tolerable-inflation rise, and commerce hiccups, ala Venezuela now, Zimbabwe earlier, and whichever next
the fact that the USD is s reserve currency simply says that the eventual crisis shall be all-encompassing, galactic, thorough, and never before experienced in history, unless of course a lot of de-couplings happen along the way to lessen the one-off shock
am using the word <<default>> in its broadest meaning, including <<inflation>>, that which goes linear, then parabolic, hyperbolic, exponential, then asymptotic, and then goes cardiac arrest, as well as
debt jubilee, etc, but generally resulting in systemic zero-state hard reset
the French did it this way, that which can be directly linked w/ the eventual revolution, and Napoleon, and and and ... wwi, and wwii
of the various ways to default that I have ever heard of, I cannot recommend any as the preferred way
the German method, which had its root in wwi, and branches in wwii
the Chinese (inventor of paper, ink, paper money, and money transfer function) protocol, that which grandpa had something to do w/ reneging, and then a lot of folks died ala French experience, and so know enough by second then first hand about systemic resets
the Zimbabwe experiment
the Carthaginian method involve use of too much salt but no pepper, and not painless
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