Let's take some notes, shall we.
Countries that went bankrupt, ran into economic problems, what caused them, what solved them?
Let us really brainstorm here.
Praefectus
How did history deal with bankruptcy?
Let's take some notes, shall we.
Countries that went bankrupt, ran into economic problems, what caused them, what solved them?
Let us really brainstorm here.
But mark me well; Religion is my name;
An angel once: but now a fury grown,
Too often talked of, but too little known.
-Jonathan Swift
"There's only a few things I'd actually kill for: revenge, jewelry, Father O'Malley's weedwacker..."
-Bender (Futurama) awesome
Universal truth is not measured in mass appeal.
-Immortal Technique
Dux Limitis
Re: How did history deal with bankruptcy?
in post-ww1 germany, the country went pretty much bankrupt to pay the penalty and when it couldn't pay for it, France and Belgium invaded to take over Germany's largest industrial area. So the german government just started printing money to pay for the penalty, triggering hyperinflation. There you get a box of matches costing 1 billion dollar something.
but in the end, Germany had to resort to asking for a loan of US dollar and issue new currency to stabilize inflation and re-construct its economy, after France and Belgium withdrew.
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Comes Domesticorum
Re: How did history deal with bankruptcy?
Yap, that was pretty much how Weimar Germany recovered from WWI.
Other than that, you can also sell your country in eBay if you want.
Vicarius Provinciae
Re: How did history deal with bankruptcy?
Debtor's prisons where have you gone?
As a teenager, I was taken to various houses and flats above takeaways in the north of England, to be beaten, tortured and raped over 100 times. I was called a “white slag” and “white ****” as they beat me.
-Ella Hill
Dux Limitis
Re: How did history deal with bankruptcy?
I think we should allow people to sell themselves as slaves again to repay debts.Originally Posted by Big War Bird
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｡◕‿◕｡
Re: How did history deal with bankruptcy?
just stop paying the debtsI think we should allow people to sell themselves as slaves again to repay debts.
________
condos Pattaya
Last edited by AqD; September 20, 2011 at 09:08 AM.
Re: How did history deal with bankruptcy?
a pound of flesh....
Praepositus
Re: How did history deal with bankruptcy?
Issue STABLE currency if you want to get out of tough economic times...and don't make loans you wont get back :/
I am with Europe!
Re: How did history deal with bankruptcy?
Freeze change when your money has the lowest exchange price for days.
Try to supply those who produce too much from a merchandise to cut their production.
Make communal works for the jobless masses.
Examine loan policy and freeze unnecessary expenditure.
Install confidence into the brokers and business people in your actions, so that they wont panick and withdraw their money.
IN PATROCINIVM SVB HORSEARCHER
quis enim dubitat quin multis iam saeculis, ex quo vires illius ad Romanorum nomen accesserint, Italia quidem sit gentium domina gloriae vetustate sed Pannonia virtute
Sorry Armenia, for the rascals who lead us.
Praeses
Re: How did history deal with bankruptcy?
form raiding parties
Re: How did history deal with bankruptcy?
Overthrow the government.
Re: How did history deal with bankruptcy?
It happened all the time in the Early Modern and earlier times.
One of the big questions about the leadup to the French Revolution is why Louis XVI didn't just repudiate the national debt. It would've made future borrowing very difficult, but it would've freed up about 50-60% of the budget, which went to interest on loans...
Many monarchies had done this several times. After all, what was a financier going to do against the King of France?
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