National Bankruptcy??

How does a nation go bankrupt? Has it ever happened?

These are questions which every American should be concerned about. When I hear the other day that the national indebtedness a few year hence would be nine trillion dollars instead of the earlier estimated seven trillion dollars, I wanted to tear out my hair.

You can bet the farm that something will snap.

One possibility is a hyperinflation like the Weimar Republic in Germany experienced in the early part of the twentieth century. In 1914 one American dollar fetched 4.21 marks. By the beginning of December in 1923 a dollar would exchange for 4.2 trillion marks. In less than a decade the mark had sunk to one trillionth of its former value. The winners were those who had large debts because they were repaid with cheaper marks and the losers were the pensioners and others who held monetary assets based on the mark. The hyperinflation continued until the Germans replaced the old mark with the rentenmark at a rate of one billion to one on November 15, 1923.

Could something happen like this in America? I don’t know, but why don’t you google the word AMERO.