I just want to know HOW THE USA CAN ORDER ANYONE TO PAY BACK NATIONAL DEBT WHEN WE OWE SO MUCH!

Argentina ordered to pay $1.3bn by US court, fears of default

 

 

 

A New York Federal court has ordered Argentina to immediately pay $1.3bn to foreign creditors holding bonds that it defaulted on in 2001, but has refused to pay up till now.

­“It is hardly an injustice to have legal rulings which, at long last, mean that Argentina must pay the debts which it owes,” Judge Thomas P. Griesa of Federal District Court concluded. “After 10 years of litigation, this is a just result.”
Argentinean President Cristina Fernandez de Kirchner criticized the judgment and said her government would not pay a single dollar. Economy Minister Hernan Lorenzino also opposed the decision and called it "judicial colonialism".

The decision bars Argentina from making a coming $3 billion payment to investors who own restructured bonds, and puts the country on the risk of a new default. If Argentina does not fully meet its payments in December, the exchange creditors could demand immediate payment on the entire $24 billion of debt issued in 2005 and 2010, experts say. The judge also restricted Argentina from paying other debts until it pays off the $1.3bn due on December 15.

Read more: http://rt.com/business/news/argentina-court-bonds-default-410/