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Originally Posted by JohnnyB
Promise to pay with what?
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Quote:
Originally Posted by afc wimbledon
Essentially the economic output of the country, you know like when you get a mortgage and they check your tax returns and talk to your employer to see if you're good for the money, a country is no different which is why interest rates and currency values vary from stable powerful economies to basket case third world dictatorships.
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This and let's say the government needed to pay however much money today. They can literally print more money and pay it. I'm not for a split second suggesting that there are no other ramifications, because there are, but never doubt that if the government owes $X.XX in CAD they can satisfy that amount.