We’ll be going through a default stage very soon!!
Russia has already led the way forward on defaults.
They have more international bond debts due fairly soon with an estimated probability of 95% defaults.
Germany defaulted around 1929 and the 30s which was a big factor in the worldwide depression and resulted in WW2. Could happen again. Germany was broken by the bankers and now they're doing it to Russia. Except Russia doesn't have to depend on international trade to survive.
Patriotism (and religion) is the last refuge of a scoundrel.
