Mises Wire
Author:
Gil Guillory
Online Publish Date:
On p.557 of Steven Landburg’s Price Theory and Applications (6th international edition), I find this: It is widely believed that Treasury bills carry essentially no default risk and that the U.S. Treasury has never defaulted on its obligations. This is untrue. For example, the Treasury defaulted on bill #GS7-2-179-46-6606-1. In order to purchase a