No need for war. The FED can print this money and pay all outstanding debt if they wanted. Off course - this might cause a little inflation and devaluation of the USD, but in turn this would make imports very expensive and thus bring jobs home. Way better than trade war.
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But this would also mean giving up ambitions of the US to be an empire that rules the world. That's the real issue here. The empire is crumbling, but it's fighting it's demise - and this fight could bring the whole world down.
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The USD
isn't just a currency. It's a weapon. But only as long, as the USD is the world reserve currency. To keep this weapon, #USEmpire will do everything to protect the#Petrodollar scheme that prevents the USD from crumbling to dust.https://twitter.com/ml_maria_/status/1122059505838301184 …
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Steadily more large countries are de-dollarising. Russia has already done this - sold all its US Treasury bonds - and other countries will be not far behind. The euro gives a soft route for de-dollarising for any that don't want to go the whole way to gold, yuan, or ruble.
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True. But China still sitting on a mountain of US treasuries. It'll take them a while to get rid of that. They can't do it too fast - since Dollar would crumble immediately, and US would by crying "economic warfare" and start a real war over this.
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Yes, China has a problem. but at the same time a credible threat. Dumping even some of its US Treasuries would hurt the US far more than it would hurt China. And I think the Chinese probably have enough political nous to know exactly how far they can go without sparking a hot war
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