More / Bitcoin Reddit - 2 years ago
If the US does not increase the debt ceiling and genuinely defaults, it's likely to render every commercial bank in the developed world insolvent.
Most banks hold US Treasuries as a large part of their "risk free" assets. If the US Congress does not agree to a debt ceiling increase by June-ish, and the US then defaults on a non-trivial amount of its debts, those "risk free"...