technically not a default…but they can and will extend the lifE and PAYBACK WELL INTO THE FUTURE ..3 MONTH TREASURYS CAN BECOME 1YEAR TREAS,FIVE YEAR TREASURIES CAN BECOME 10 YEAR TREAS ..What happens then is an immediate drop in resale value to compensate for the TIME value of money ..They will be able to pay you back with inflated currency ,with lower purchasing Power..
Whats the solution ? GOLD…..!!!