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floro 16 hours ago [-]
I wonder how impactful that debt is. If america simply says "no, we wont pay it back, suck it up" there's nothing iran can realistically do. Same for most countries.
233mhz 16 hours ago [-]
The entire world is based on trust and doing what you said you would do, everyone more or less got the memo except trump. The thing with trust is that it takes decades to build and one sentence to break
hagbard_c 16 hours ago [-]
They could but it'd be the end of the dollar as the exchange medium of choice. With that it would effectively end the USA's position as the economical powerhouse of the world. That in turn would kick down the US economy. That in turn would hamper the USA in maintaining its military presence around the world. That would be the end of the USA as a superpower just like Russia lost its position when the Soviet Union collapsed. It might not be a permanent relegation to the sidelines like the UK experienced but the hiatus would certainly be filled by China, India and possibly some other players.
innagadadavida 15 hours ago [-]
The article is basically predicting the opposite. USA will become the sole energy supplier (with Venezuela) of the world. All outstanding debts will get paid off due to huge economic windfall. USA will only sell oil in USD so it really doesn’t matter what other oil producers do.
_aavaa_ 50 minutes ago [-]
Look at the rate that countries have started transitioning away from fossil fuels this year because of what’s happening in Iran and because of the USA’s growing untrustworthiness. Why in the world would they go back to being dependent on oil, much less dependent on just the USA?
hagbard_c 15 hours ago [-]
Well, if the USA ever defaults on its debts we'll see what happens. Let's hope it doesn't come that far because even though the article claims the USA will benefit in the short term it won't end well for either them or the rest of the world.