US defaulted at least twice before

Ratings agencies deem an issuer of debt in default any time it fails to pay back creditors in full & on time or seeks unilateral change in conditions of repayment. This led to S&P assigning a default rating on Greece.

It turns out the US has defaulted TWICE on its gold obligations. FDR infamously “nationalized” almost all private holdings of gold & Nixon in 1971 refused to redeem dollars for gold.

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Content of "Natural Order" attempts to reflect the commitment of Universidad Francisco Marroquin to support the development of a society of free & responsible individuals. The principal commentator for this blog is Christopher Lingle.

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