JOIN OR RENEW TODAY
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."
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
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Ryan McMaken is a senior editor at the Mises Institute. Send him your article submissions for the Mises Wire and Power and Market, but read article guidelines first.