Many countries are struggling with national debts which are owed not to other countries but to banks. Now, forgive me if I’m wrong but most countries invest rather a lot of money in their armed forces yet I’m not aware of one single bank which has any army to speak of. Hypothetically speaking, what would happen if all the governments just refused to keep making payments?
“You’re sending in the bailiffs? We’ve got Trident!”
Sure, it might affect our credit rating and our ability to borrow money in the future but if we weren’t repaying the interest on loans then we wouldn’t need to borrow money. Anyway, with tanks aimed at their vaults we wouldn’t need to fill in a loan application. I mean, I’m not proposing civil disobedience or anarchy but I think it might be an interesting scenario to test.