Yellen Is Wrong. The US Government Doesn't Always Pay its Debts.

Yellen Is Wrong. The US Government Doesn’t Always Pay its Debts.

Tags: Money and Banks, U.S. History

10/05/2021 Ryan McMaken

Let’s stop pretending default is unprecedented. The US defaulted on debts in 1934 and again in 1979. Today it engages in de facto default through financial repression and monetary inflation.

Original Article: “Yellen Is Wrong. The US Government Doesn’t Always Pay its Debts.“

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