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The problem is that these debt amounts are so large now that countries could easily justify a war against another country that refuses to honor the debt obligation. IMHO that is what we will have if the US, in its current form, walks away from that debt. The Chinese can bleed us dry on the Korean Peninsula. The Russians can bleed us dry in Iraq/Iran. The Saudis can bleed us dry in AfPak. Some people have apparently learned the value of having a little guard dog.

I think we can crush the Saudis, they would not be a match for the French or the UK, even Italy, there are only like 15 million of them but I do agree that Iran and North Korea could be tougher nuts to crack. I think if a war scenario happens over the debts, it could go into an atomic war. The downside is in that case no one will ever be repaid. I always thought maybe we should have a Day of Jubilee where all debts are forgiven, deep down inside, we will never pay it off, it would be like me trying to lift the front end of a 1952 Hudson Hornet. Trouble is, I don't know how we can do it outside of giving the whole world the Middle Finger.

I think we can crush the Saudis

The House of Saud is also too smart to fight us directly. We will be fighting their war in AfPak for them. They will just make the costs of fighting very high. Threaten the nukes in Pakistan, and the US tripwire goes off and we go in. Thousands dead in the Khyber Pass.