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the debt
(lemmy.world)
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this post was submitted on 07 Jun 2024
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Okay, but even if the USA can't change the law regarding states bonds, it is virtually impossible that people stop buying US states bonds since the US Dollar is kinda like the most established currency in the world.
So your argument is completely theoretical.
I hear what you are saying, but that is changing, america is losing its strangle hold on the world. That became most evident with what we tried to do with Russia after their invasion and the cracks in our system are starting to become more obvious. Unless you think that the US will be the worlds reserve currency forever, there will be a time when it falls.
I see what you mean, but this is not about having a strangle hold on the world or being the world's reserve currency. This is about having your own currency and collecting taxes in this currency. As long as a country collects taxes in its own currency there will be demand for that currency.