When you get your news from Bloomberg, you don't just get the story. You get the story behind the story.

How your Evie's battery may not be as green as it seems.

Why a decrease in global birth rates could send countries scrambling to increase immigration.

You get context.

And context changes how you see things, how you change things, because context changes everything. Go to Bloomberg

dot com to get context. Hello and welcome to another episode of the Odd Thoughts Podcast.

I'm Tracy Allaway.

And I'm Joe Wiesenthal.

So, Joe, I think, uh, oh, I'm trying to remember now. It must have been maybe four or six weeks ago you were

away and I recorded an oughts all by myself and I felt really bad because it was a really good episode and I think you would have enjoyed it.

It was the one with Mitu Galate and we were talking about debt defaults.

Yeah Tracy I was sad to have missed that one. I mean, I don't think you should feel bad per se that you did it alone without me because, you know, it's sort of occasionally I'll do one solo, you do one solo would pick up for each other, but I do like that topic a lot, and so yes, I wish I'd been part of it.

Well, as my personal gift to you, we are going to do a sort of redux episode. We're not talking about defaults or

sovereign debt restructuring in general. We're going to talk about one very

very specific instance of a debt default.

In fact, it's probably one of the most famous of all time.

It's certainly one of the biggest.

In fact, depending on your definition of debt defaults and how you actually

measure it, it is the biggest one of all time. Do you know what it is?

No, so I was just going to say this is really embarrassing to me because I know which one we're doing and if someone

had said what is the biggest sovereign debt default of all time you say oh this is the

most famous one I don't even know if this one would have occurred to me

...