If not, what should I do? It's like America paid back the money. Since the hegemony of the dollar, the United States has never paid back the world wool through dollars. However, since China has spent a lot of foreign exchange reserves to buy US Treasury bonds, it is necessary for us to discuss the problem that the United States has not paid back the money.

The international status of the dollar

There is no doubt that the dollar has replaced gold as the international currency. Although in international trade, there are also euros, pounds, yen and other pricing and transactions, but the dollar still occupies an absolute dominant position. However, the dollar has also experienced a lot of turmoil, so let us start a new stove and establish a diversified foreign exchange reserve. Therefore, if the United States defaults, it will also cause dollar turmoil and the credit status will be questioned.

What does America's strength come from: the dollar and the US military. The U.S. military can reach the whole world, control strategic resources with planes and artillery, and then achieve political goals; And the US military needs US dollar support. The premise of all this is the absolute circulation of dollars around the world.

Since the dollar can circulate around the world, it means that the existence of other countries itself allows the United States to collect seigniorage. From a national point of view, printed dollars, as long as they circulate, are the debts of the United States to currency holders, that is, the debts of the United States to the world, and this is not only at the level of US national debt.

Of course, it is impossible for the United States to print money indefinitely, because the circulation of dollars needs to match the strength and solvency of the United States. Otherwise, once it loses control of the dollar, the United States will lose not only money, but also the future.