Can a Country File Bankruptcy.

[bigcountrysg]

Can a Country file Bankruptcy. If so what kind can they file. Chapter 7,9,11,13, if a country does file bankruptcy is that considered depression.

[Snowman66]

means that country's money is no more.
When a country file for bankruptcy, how is the bankruptkcy court funded?

[Banshee34]

I think they just raise the taxes.

[BryanH]

Originally Posted by Banshee34

I think they just raise the taxes.

I think your right on the .............................................MONEY ...

[Snowman66]

Originally Posted by Banshee34

I think they just raise the taxes.

With who's currancy? If it was us probly our own.

[Banshee34]

Our currency is more electronic now isn't it? I mean I rarely have cash, only my card.

[rdc]

Originally Posted by Banshee34

Our currency is more electronic now isn't it? I mean I rarely have cash, only my card.

Exactly. Our money system now is a house of cards, with no
underlying inherent value.

[Snowman66]

Originally Posted by rdc

Exactly. Our money system now is a house of cards, with no
underlying inherent value.

I like that one.

you mean if i get more CC I have more money.? Dam I'v been throewing away all that money in CC ads I'v been getting in the mail.

[rdc]

Originally Posted by Snowman66

I like that one.

you mean if i get more CC I have more money.? Dam I'v been throewing away all that money in CC ads I'v been getting in the mail.

Shoot, I didn't even realize I had made a pun.
I was refering to the fact that we are no longer on the gold standard, and our currency
is not backed by anything of value. Just our 'trust'.

[Snowman66]

Originally Posted by rdc

Shoot, I didn't even realize I had made a pun.
I was refering to the fact that we are no longer on the gold standard, and our currency
is not backed by anything of value. Just our 'trust'.

I take it you don't own any T-bonds?