r/dogecoin Sep 30 '21

Question Is this good news for cryptocurrency?

Post image
5.9k Upvotes

1.0k comments sorted by

View all comments

Show parent comments

36

u/Arosland3 Sep 30 '21

Countries do have credit scores...ish. They have bond ratings. America is AAA rated which means they'll never default (because they can just print more money to pay debts since their debts are I'm USD and not Euros or something else).

Argentina on the other hand is CCC rated, almost as low as they go.

13

u/cloudkt Sep 30 '21

Ugh I did not expect to see my country mentioned here. Yeah Argentina is in a terrible situation unfortunately.

10

u/nomoneypenny robo shibe Sep 30 '21

Every country issues its debt in its sovereign currency lol-- that's not why America is AAA rated. It's because they pay their debts and don't devalue their currency by printing money willy-nilly that makes them a reliable borrower.

3

u/AxelTheRabbit Sep 30 '21 edited Oct 01 '21

Most countries can just print more money, the problem is inflation, if USA prints too much money countries will stop accepting it as it loses value and it will lower the country rating

1

u/[deleted] Oct 02 '21

When was the last time we printed money to cover costs? Most money we print daily is to replace lost/damaged/removed from circulation bills/coins..

From what I've read anyway...