37 posted 1 year ago by Khonalomgit 1 year ago by Khonalomgit +37 / -0 16 comments share 16 comments share save hide report block hide replies
Wait a sec, don't they own the most US debt out of any other country in the world?
Yes, but that's not how debt works. You can't just trade yours for someone else's.
Besides. Just say they decide to call in everything the US owes them on paper. How are they going to collect?
It's not really that, is there a chance another country, say China could aquire that from Japan if their economy gets worse?
Yep. But the more US debt any one country holds, the more their own economy is threatened by a possible US default.
There's the saying: "If I owe you a thousand dollars, and I can't pay it back, I have a problem. If I owe you one million dollars, and I can't pay it back, YOU have a problem."