re: #76 imp_62

Treasury does not issue secured debt, so no national assets can legally be “seized” or forfeited as collateral to any holder of US sovereign debt. The true penalty of default is the inability to issue debt at reasonable rates post-default. The national currency suffers as a result of economic contraction. The private sector also suffers trade-related consequences.

That too of course, but I meant in general sense there would be no way to single out one country for default on the debt, its pretty much an all or nothing system.