That is useful. Should be required reading whenever someone starts advocating a return to the gold standard.
From what I understand (not an expert), people have some fear that China can manipulate the U.S. market by selling (or really, just decreasing their regular buying) of U.S. debt. That fear is probably overblown.
But there are so many misconceptions about debt. The whole thing where somebody divides the total debt by the U.S. population and states the result—meaningless! Not to mention that most of the debt is owned by U.S. institutions and individuals. Remember when Trump said he might renegotiate the debt and get creditors (uh, mostly Americans?) to accept less?
Exactly. NPR tried to figure out what in the world Trump might’ve meant. He had no idea what he meant.
