[PeterPrinciple]

As for sovereign bankruptcy, there is no such thing because there is no global bankruptcy court to expunge debt.

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Bankruptcy rules are for an orderly process.

Not everything happens in a court. There is settlement outside of courts more often than not.

The satellite countries grabbed all assets in their borders. But they did assume the pension plans for their citizens.

The interesting thing is Russia assumed all the debt of the soviet union. ever wonder why?

[Owen]

>>The interesting thing is Russia assumed all the debt of the soviet union. ever wonder why?>>

That’s pretty typical. When a country changes governments, the new government doesn’t get a clean debt slate.

This stuff is all carefully designed to get the casual human to just walk away and presume it all makes sense.

https://youtu.be/LtFyP0qy9XU?t=54 Voila