Someone asked me if the U.S. should do that. Maybe he had been reading Murray Rothbard. I just found that article. My response was not to say it should or should not be done, but to say what would happen if it were done: “You are talking about total bankruptcy in which no one gets a nickel back on their loans. This means that US taxpayers are complete deadbeats. Lots of that debt is held domestically, huge amounts too, so that impoverishes many. But even if that were not so, it signals that the US will use inflation. That move … Continue reading Repudiate the national debt?