Don't See How US Can Ever Pay Off Debts (Jim Rogers)(cnbc.com)
cnbc.com
Don't See How US Can Ever Pay Off Debts (Jim Rogers)
http://www.cnbc.com/id/44054257
2 comments
I don't believe sovereign nations ever pay off all their debts, any more than banks ever collect on all of their loans. In a dynamic financial system, the money never comes to rest with a full accounting. It's always moving. Rogers is likely just trying to bolster the value of his gold and commodities holdings.
Bankrupt means you can't pay interest due on your debts, not that you can't pay them off.