How does the debt system work, what happens when the other countries buy our debt, can they sell our debt to other countries, can they force us to pay our debts at any given time, please explain how the national debt system works?
Thanks, I need lots of details and really want to understand so thanks again for your help!
How is debt sold by our government to other countries?
Other countries buy bonds or Treasury Direct Securities from the US Treasury.
Reply:Its a wash. Normally a nation, not normally ours but we drew the short stick, borrows 30 BN$$$, time goes by another disaster, more aid needed, whatever occurs, I%26#039;ve yet to see any nation pay its debts back. Of course they can sell it to other countries but the 3rd Party is beholden to the 1st Party, the 2nd Party is beholden only to the 1st.
Reply:They buy our BONDS which are backed by the US Treasury. All BONDS are debt or I.O.U.s
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