Learning from Americas forgotten debt default…

But it happened:

​President Franklin D. Roosevelt​ signs the Gold Bill (also known as the Dollar Devaluation Bill) ​

One of the most pervasive myths about the United States is that the federal government has never defaulted on its debts. There’s just one problem: it’s not true, and while few people remember the “gold clause cases” of the 1930s, that episode holds valuable lessons for leaders today.

 

https://www.project-syndicate.org/commentary/americas-forgotten-debt-default-by-sebastian-edwards-2018-05

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