On Twitter I saw some post about universal income, some mentions that would add even more debts to countries (but that’s not the point of this) and some answers that countries, well their central banks actually, can just say “nope” to any kind of debts applied to them.
Is it technically true? And if so, what are the reasons it’s not applied, diplomatic, economic, capitalist unwritten rule?
In: Economics
debt is a “gentlemens agreement” for payment in the future.
You can always break that agreement on your side. the problem them is, once you do it, no one will like to make such agreement on the other side (i.e. lend you money).
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