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<p>[QUOTE=&quot;medoraman, post: 1066960, member: 26302&quot;]<img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> Always disagree. Russia yes was borrowing under other currencies, but Asian countries weren&#039;t. Debt/currency problems are effectively the same. All countries can simply print more money if their debt is denominated in that currency, which is what they do on a technical default. Effectively they steal from lenders and their citizens by creating 10 times more money, devaluing all of it by 10 so its easy to pay back. I do not think anyone would suggest teh government would keep a strong dollar policy and simply try to have 70% tax rates on all citizens, so US default will have to be a dollar devaluation. I cannot see another way.</p><p><br /></p><p>Debt problems, if denominated by dollars, is the same as dollar currency problems. US Treasuries are treated around the world as currency with a bonus interest payment. Most bankers, when referring to &quot;dollars&quot; are referring to US Treasuries, not currency. Its not our currency printing presses that are devaluing the dollar, its our US Treasury debt printing presses.[/QUOTE]</p><p><br /></p>

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