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by QuarterReptile
974 days ago
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It's true, you can gradually default on the government's obligations by changing their denomination to make the underlying promises worthless. That's consistent with my third hypothesized path. I don't see any way that inflation jumps gently in that case. I'm suspecting we wouldn't jump straight to hyperinflation, but annual inflation 30-50% would be my guess for the first couple years that 0% of government services were covered by revenue. |
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