What if: every country hit with TRUMP Tariffs simply defaults on their debts to the USA, en-mass, today. Every single one. Just refuse to pay? - ThreadSky

davidjwbailey.bsky.social • 57 days ago

What if: every country hit with TRUMP Tariffs simply defaults on their debts to the USA, en-mass, today.

Every single one. Just refuse to pay?

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domahe.bsky.social•57 days ago

His tantrum would kill is all.

essaywells.bsky.social•57 days ago

Would be bad for those countries' credit. The more effective path would be to stop buying US Treasury bonds (US debt).

gingemcmahon.bsky.social•56 days ago

Japan and China both started reducing their US bond exposure as soon as Trump was elected.
Expect the EU and others to now follow suit.

davidjwbailey.bsky.social•57 days ago

Who cares about an artificial credit rating (incidentally from private companies owned in the US)?

Just say “this is on Trump. Stop the tariffs, and we will pay on the button”

essaywells.bsky.social•57 days ago

Nothing to do with private credit ratings. Credit as in "full faith and credit of the government".

davidjwbailey.bsky.social•57 days ago

And the USA? Having become a rogue, criminal, tyranny? Why should we be “tolerant” of that?

essaywells.bsky.social•57 days ago

If you want to exert economic pressure on the USA, the mechanism you use should be bad for the USA rather than for you. No country wants a reputation for defaulting on its bonds. Therefore the mechanism you want is to stop buying US bonds rather than to default on your own.

davidjwbailey.bsky.social•57 days ago

I’m still lost. If a criminal starts beating you, you have to accept the beating because otherwise you are not trustworthy? What if *everyone knows* the criminal is a criminal?

m7leicauser.bsky.social•57 days ago

Stop buying US anything. They don’t have anything that we can’t get elsewhere.

johnkmccausland.bsky.social•57 days ago

Might be better if they just call in the States of America's debts. Don't know how but it would put the cat among the pigeons.

https://ticdata.treasury.gov/resource-center/data-chart-center/tic/Documents/slt_table5.html

davidjwbailey.bsky.social•57 days ago

That, too

davidjwbailey.bsky.social•57 days ago

Take it further: every company outside the US. What if they say “we are not paying in USD. In fact we are not paying any US suppliers anything until this tariffs on our country are repealed.”

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