So what is the best way to profit from the impending default of Venezuela? Out of the oil based economies in the OPEC it will be the first to go.
>>1050994
How, exactly, can a state default?
>>1051025
Same as a company, they aren't able to pay their debts.
>>1051029
A company defaults because their creditors declare it so, and the authority (state) acknowledges it. States themselves have no such authority above them.
>>1051043
states have debts to banks you stupid cunt. do you think money is just magically printed out of nothing?
>>1051048
What authority do banks have over sovereign states?
>>1051043
Well, since you are not convinced:
https://en.wikipedia.org/wiki/Sovereign_default
>>1050994
>So what is the best way to profit from the impending default of Venezuela?
Cheap and willing newly impoverished cuties.
>>1051055
They authority of not lending any more money.
>>1051080
Plus rating their ability to pay back debts. Callability is recognized as impossible if they don't want to pay. Modern state can't operate without credit and insurance.
