“no one really knows”...and that’s the truth!
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I suppose it would be sort of like what happens if you or I were to default...
if it was secured debt, or unsecured debt...
(I think the U.S. debt is “unsecured”)
Defaulting on a secured debt, like a car payment or a house payment,
means you lose your car or you lose your house.
Defaulting on an unsecured debt, like your visa or mastercard,
means the lender bites the bullet, but nobody wants to loan you money anymore.
We’d be relegated to second world status for a while, but that would change after SHTF and CW3 are over. Heh.