I worry less about this than most people. If we ever needed to really play hardball with China, all we'd have to do is stop protecting the sea lanes from the middle east to China. Oil tankers would become prime targets for piracy. No one would insure those ships any more. The flow of oil to China would be so choked off they'd be on their knees begging us for mercy.
Our saving grace is that the debts must be repaid in US dollars.
That’s why the government wants inflation, it effectively reduces the debt.
And they can literally print those dollars if need be.
That’s the beauty of being the reserve currency of the world. Our military spending is fundamentally there to protect this status.
Our country will literally wage war before giving up reserve currency status.
No value judgement...it is what it is.
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