Latest rumblings about the US forcing other nations to swap their treasuries for non-maketable, zero coupon, 100 years bonds are absolutely wild.
That’s a technical default, period.
The ruggings will continue until morale is completely demolished.
Discussion
This is interesting. Where have your heard that?
A couple of podcasts. Latest MacroVoices with Jim Bianco, for example.
So was closing the gold window. If we actually go through with something like this, we won't be forcing anyone. It will be a temporary emergency measure to fix something or other (bond 'shortage?'). Our creditors won't scream 'default,' they will trip over each other to buy more.
We’ll see about that.