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>"The United States is kept alive as a nation by the fact that if anybody wants to purchase goods from another nation, like China, they first have to buy US Dol
by asperous 13y ago
>"The United States is kept alive as a nation by the fact that if anybody wants to purchase goods from another nation, like China, they first have to buy US Dollars from the USA, then exchange those USD for the goods they want in China. That, and the fact that this results in all countries buying tons of USD to put in their currency reserves."
First of all, this isn't true. You can use the Forex market to exchange your currency however you wish. It's true that a lot of people save USD because there's a lot of trust in the USA (held by the fact we have the highest gdp in the world), which boost its value, even if that currency was replaced with people saving bitcoins instead, the usd would still have a lot of value. The value of the United States currency is in the trust that the country will survive.
While I wish we didn't have the national debt, it's just a fact of life for most countries. We owe most of our debt to ourselves actually, and as a percentage of gdp, the US debt is about #35 out of all the countries in the world https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html https://www.cia.gov/library/publications/the-world-factbook/... .