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To: yard_man who wrote (2454)	6/22/1998 12:04:00 PM
From: Joseph G.	Read Replies (2) \| Respond to of 86076

<<If and when such a country does this when it is dependent on exports it would be committing economic suicide. I think the probability is low unless there is significant civil unrest, i.e. civil war or some kind.>> Yet most countries do it all the time, even W. European countries do it every 100 yeasr or so, and others do it more often. Ex. USA and couple others. And, we are not talking about sovereign debt (which also gets repudiated). Just ask all the French holding Tzar's obligations, French and Americans holding WWI and WWII German, Polish and Yugoslav Gold Certificates, etc. A terific competition for the wallpaper industry.-g-