Check out London, Manhattan, Aspen and East Hampton real estate prices, as well as high-end art prices, to see what the leading edge of hyperinflation could look like.
The Congo is very wealthy from oil money but is not paying its debts and at the same time is applying for special status at the World Bank. That's shocking and disingenuous.
Derivatives trading should be standardized and as much as possible moved to clearinghouses.
It is a very bad idea for governments to create arbitrary and unfair outcomes, or outcomes resulting from the passions and whims of the government rather than from the law, just because they have the power to do so.
Imagine how much capital a country like Argentina might attract - if instead of defaulting seriatim and affecting a pose of anger toward creditors, it borrowed responsibly and honored its obligations.