If a company goes bankrupt, its assets are liquidated and sold off to meet the creditors' demands..
If a country goes bankrupt, does the same thing happen? Let's say the US goes bankrupt. So that means China and Japan get the West Coast, Canada gets the northern states, Mexico gets the southern states, the EU gets the east coast?
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Anonymous2009-02-13 22:03
No, absolutely not.
It's too much to describe in a single post and I don't think I like you enough to even write more than ten sentences on this topic.
Simply look at what happened to Germany after WW1. And there's plenty of other cases of hyperinflation if you wan't something more recent. Take Zimbabwe for instance.
The economic crisis in Argentina is also very relevant.
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Anonymous2009-02-13 22:03
In terms of classical international law, debtor nations can be forced to repay their debts to their creditors, up to and including the cessation of territory.
The question is, though, does the EU really want Jew York City and its five million sullen niggers on welfare? Does Red China really want Mexifornia? Well, the latter state might be salvageable but they'd keep the people shredders working overtime for years.
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Anonymous2009-02-14 7:03
There are examples in history of nations selling land so it is feasible for a nation to sell land to pay off debts. However if the land contains a large population whom believe the debtor state is their sovereign then they may have the political clout to prevent that land being sold or they will become excessively militant under their new masters.
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Anonymous2009-02-14 8:54
Its yet another reason why nations should be careful about lending money to one another, because a democratic nation will find it nigh on impossible to sell it's sovereign territory.
Then again, there're enough latinos in the southern states that it could happen, if America REALLY does go down the pan and Mexico somehow stays afloat.
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Anonymous2009-02-14 9:48
USA has the leverage of being the "hinge pin" that the rest of the world turns on. Deals will be struck with other nations for debt re-payment in terms the USA finds acceptable.
Fair? No. Reality? Yes.
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Anonymous2009-02-14 23:44
That's why I plan to start an independent nation with enough wealth to solve all the world's problems without going into debt. Though I'll need to borrow some money to purchase an outer space asteroid mining device.
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Anonymous2009-02-15 1:27
>>6
Wow, that's a pretty irresponsibly oversimplified view of the US's influence over the world. Try again except base it on facts this time.
>>6
Dream on, cumrag. It's been noted that the world seemed to let itself be divided up into sectors that performed various jobs. Metaphorically speaking, it's as if China took on the job of producing food, and the USA took on the job of eating it. That is not a good deal for China, obviously, and soon enough Chinese folks will hit upon the idea of eating, too ... and then the USA will be FIRED from its job.
The USA was a good customer as long as it could pay its bills. It can no longer pay. Therefore it will soon cease to be a customer, much less a GOOD one.