|Hungary (1946), when money was trash.|
Previously, he had proposed to pay off the debt through giving bondholders "haircuts." Rather than paying the full value of the bonds he would "negotiate" deals where bondholders would be forced to accept partial payments for the debts they hold.
In simple financial terms, that would be declaring bankruptcy and defaulting on the debt or, as Trump called it, "playing with debt."
That didn't go over too well with the global financial market.
|A ten billion mark German postage stamp, worth about 50 cents.|