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View Full Version : is "national debt" charged to the land or the government?



homegrown terror
28th March 2013, 03:49
hypothetically, if the revolution started in the US tomorrow, and by sunday it's overtaken DC and thrown the capitalist puppets out of their marble mansions, (unlikely i know, but it's a hypothetical) would those countries to which the US government owed trillions of dollars be likely to continue to hold credit to the new revolution since they would occupy the land of the former US, or would that debt be dissolved since the governing body that accrued it is now gone? i guess what i'm asking is could a former country's "estate" be held in debt the way a the benefactors a mortgage-holder's will must continue to make payments or forfeit the house.

Rurkel
28th March 2013, 03:52
It's up to the new revolution/government to decide. Of course, if the new government is strong enough, it can default and stick its tongue at its former creditors. If it's weak and still refuses to pay, well, creditors may very well start a "pay us our debt back" war or something.