If I owe you dollars, you have no right to demand payment in something else. A deal's a deal. If you didn't hedge to protect yourself, it's your own damn fault.
mbs
So, if we devalue, it's easier for us to pay back in dollars, but why would a foreign country want the devalued dollar? Why wouldn't foreign countries demand payment in their own currencies? Will the US Marines make an offer they can't refuse?
Wouldn't major price increases be touched off by even the thought of devaluation? With interest rate increases that practically shut us down?
I fail to see what devaluation buys.
-- John K. Taber