China was the biggest holder of US debt until recent years when our Fed started buying it. China wants to have the reserve currency of the world. The US has that currently, and it's a huge economic advantage, but the rest of the world is going to pull the rug out from under the US. Oil is being traded in gold rather than USD here and there already. China is working with other countries in their region to move towards making a basket of currencies the reserve currency. The underpinnings of all the US insane social welfare programs and maybe the military, will be more gone than they currently are... Bibles and guns anybody?
being the reserve currency has allowed the fed to spread dollars around the world and systematically debase the dollar. (prior to monetizing) how is that a benefit?