I'm saying if other countries want to debt-collect in case of a default, there are other levers they can tweak besides just showing up at the US' door and saying 'give us our money back'. There are trade levers like tariffs, bonds, foreign currency reserves, gold reserves, and more. And I daresay in a concerted effort the US wouldn't be able to do much, unless it dares to risk enraging the entire world. In which case it would be able to do less still.
Funnily enough, it has already got halfway there, which was precisely my point. And sufficient damage was done to the markets that it managed to erase 4 years' worth of growth in one week flat, with a rather muted recovery afterwards.
I'm saying if other countries want to debt-collect in case of a default, there are other levers they can tweak besides just showing up at the US' door and saying 'give us our money back'. There are trade levers like tariffs, bonds, foreign currency reserves, gold reserves, and more. And I daresay in a concerted effort the US wouldn't be able to do much, unless it dares to risk enraging the entire world. In which case it would be able to do less still.
Funnily enough, it has already got halfway there, which was precisely my point. And sufficient damage was done to the markets that it managed to erase 4 years' worth of growth in one week flat, with a rather muted recovery afterwards.