Power Corrupts: Never Mind Democracy

Power Corrupts: Never Mind Democracy

…..Even though governments print their own money, they still default. The question is, do governments ever intend to pay? The answer is No!

Here is a list of so-called sovereign defaults from 1981 to 2003. These are only the acknowledged defaults researched by Eduardo Borens and Ugo Panizza: Zambia, Yugoslavia, Uruguay, Sierra Leone, Philippines, Panama, Niger, Mozambique, Morocco, Costa Rica, Chile, Brazil, Guinea-Bissau, Cote d