I don't know how much it matters. The numbers sound big but then in different perspective not so big. The internal debt of the US, in some sense, at least when

I don't know how much it matters. The numbers sound big but then in different perspective not so big. The internal debt of the US, in some sense, at least when we are thinking about the viability of the US dollar in international trade, cancels itself out. And debt and swaps with Europe or the UK? Perhaps it matters less than debt to other countries. It really boils down to the exorbitant privelige. How big is it really? Who exactly bears the cost and who encurs the benefits? Not exactly clear in the details. However were Japan and China to give up their "mercantalistic" practices of buying US treasuries and instead letting their own currencies appreciate and start trade and investing without using the USD. Then that probably would be quite a thing.