Comment: Not necessarily. It doesn't

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In reply to comment: RE: Iceland (see in situ)

Not necessarily. It doesn't

Not necessarily.

It doesn't have to be default today. But creditors must know that the money train will not keep flowing and that they must renegotiate debt if they want any hope of getting any return at all. Prioritizing debt servicing does not curtail scans back the debt - rather it continues the scam.

Why do you or I and everyone else owe $20 Billion perpetual for a debt we never asked for or agreed to?

Government does not have to default; it can cut back on spending drastically and and signal to creditors that interest will not be further paid until the debts are renegotiated.

If you keep feeding them, it only encourages more of the same bad behavior.

Default is inevitable , but further deejaying and propping up of the system will only make a future uncontrolled default even worse.

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