Money is a created myth for exchange under capitalism it could be anything @SmilingGecko . Powerful
countries don’t pay their debts witness the US. Greece was only in trouble because other countries agreed to punish it instead of just writing off the debt. In the end they quietly write of the debt they sell
it off at a lower price then print more money which is why countries can’t go broke. The capitalists don’t like welfare and government spending so they go on about debt. The US is three trillion in debt but because oil and most international
trade is conducted in US dollars no one takes any notice of that debt instead buying US treasury bonds. The US simply prints more money. Prices constantly go up so there’s constant inflation only the rate varies if inflation goes up so do interest rates. Rising interest rates attracts investment in a country’s currency and also bonds so countries can’t go broke. But when there’s a supposed debt crisis cuts are reinforced and the poor lose out the most.
