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I posted an answer to this question:

Has any government made the unwinding of their US bonds and currency reserves** a core public policy plank or a law on the books?

My answer was, No, here is the reason why. [blah blah blah].

It was deleted (I am guessing), because the OP decided it wasn't an answer and a moderator agreed.

Should my answer to this question have been deleted, if so why?

Answer below

No country has, because they don't need to. The interest on the debt is 1/10th what they receive in revenue.

PolitiFact looked into this issue back in 2011 and declared it True on their Truth-o-meter.

Whether or not the debt ceiling is raised, the federal government collects significantly more revenue than it needs to fulfill U.S. debt obligations," Forbes wrote. "If the debt ceiling is reached, the government will still have ten times as much revenue as it needs to make debt payments. The only way the U.S. will immediately default upon reaching the debt ceiling is if the government actively chooses to do so by not making debt payments."

Well, if we’re talking about today, Forbes is absolutely right.

Forbes' bill, the Full Faith and Credit Act would require the Secretary of the Treasury (Treasury) to make timely payments of principal and interest when the statutory debt limit is reached. The House passed this legislation since their has been conflicting statements from the Treasury whether they could prioritize payments on the debt. If the US defaults on it's bond holders, it is only because the Senate and/or the President chose not to.

Additionally, the 14th Amendment requires that the US debt is paid, to do otherwise is unconstitutional.

The validity of public debt of the United States [...], shall not be questioned.

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Okay, I'm not really in a place to type a lot - in a phone with limited access. Rest assured, better answer coming.

  1. It wasn't an answer (as Dj says)
  2. It did suck the air out for other questions
  3. I responded to a flag, and did not initiate.
  4. User1873, your style of polemic is beginning to grate on me, to the detriment of the site. You post so much opinion that it is difficult to weed through your rhetoric- and I say this as a guy who is predisposed to Agree with you! You do have a higher bar than most. You are a high rep user. I expect better from you.

Please, for the love of God, we've heard your opinions. Now, stand down and start posting more balanced stuff. You are smart. Learn to moderate yourself.

  • It is unclear to me how it "sucked the air" out of other questions (assume you mean answers here). How does the existance of an answer saying that no country has so and so policy make it less likely for anyone to provide an answer? If anything, it encourages others to post a single example that proves me wrong. – user1873 Oct 25 '13 at 22:46
  • there has been no response (or it was rejected) to my flag of the non answer to my safest investment US Bonds. in what way does it not suck the air? – user1873 Oct 25 '13 at 22:50
  • +100 for You are a high rep user. I expect better from you. – SoylentGray Nov 5 '13 at 16:07
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I obviously didn't delete, but it seems to me that your 'answer' isn't an answer to the question.

You give reasons as to why you think there won't be a default. Even if you are completely correct (which not all economists and lawyers think is the case), there might still be governments that take action to unwind their holdings. Your answer doesn't address the question.

  • And if there are zero countries that have taken actions to unwind their holding, and the reasons they give are those that I stated, then is my "answer" a valid answer? – user1873 Oct 23 '13 at 1:56
  • You didn't provide any evidence to show that no countries had done this, nor that the reasons were those you stated. – DJClayworth Oct 23 '13 at 3:20
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    If you want to discuss that, ask a question about it. – DJClayworth Oct 23 '13 at 13:14
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user1873, I didn't know that the answer was removed by moderators instead of voluntarily.

From my standpoint, rather than moderator-deleted simply because my counter-arguments in this instance were more convincing to a moderator than yours, the answer should have been expanded to explain to how the answer fitted the question, in light of feedback. So if the answer<->question match still didn't convince enough people and accrued enough down-votes democratically over time and then gets deleted - then at least it followed through the usual stages for consensus on the site.

But I think being a moderator on this site might be a thankless task relative to other stack exchanges.

  • I agree with this answer for the most part. If my answer included either an increase/flat rate of foriegn investment by the major bond holders, would you accept that my "answer" was an answer to the question (one that you completely disagree with, of course). – user1873 Oct 25 '13 at 4:54
  • @user1873 Yes. I think answers, once any oratory tricks have been cleaned up, should be allowed to be voted on and let the chips fall as they may. It was perhaps a lack of a clear statement on how the answer bridged across to the scope of question that resulted in deletion instead of downvotes (or upvotes who am I to say). – LateralFractal Oct 25 '13 at 5:05
  • @user1873 If I had to guess, I'd figure AffableGeek deleted your answer, o'cunning Cicero, was because it had by omission and other framing tricks, sucked all the oxygen out of the question leaving other more topical answers to asphyxiate. – LateralFractal Oct 25 '13 at 5:26
  • that is an interesting hypothesis, but the non-answer to my question remains? Why two different results? – user1873 Oct 25 '13 at 5:31
  • @user1873 hmm? Its been a busy week. Do you have a link so I refresh my memory? – LateralFractal Oct 25 '13 at 5:36
  • currently the top of the page. Regarding the safest foreign investments (a corollary to your question). – user1873 Oct 25 '13 at 6:43
  • @user1873 Ah that one. I did comment that that answer was now out of scope (i.e. A non-answer for your revised question), but our comments have been flushed from that answer. – LateralFractal Oct 25 '13 at 7:25

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