In the latest debt ceiling drama, Washington signaled that it would default. "Full Faith and Credit" no longer means what it meant when China bought all that debt. And this could also mean using inflation as a means for default.
When a debtor defaults, what is a lien-holder to do? What collateral has been pledged?
Don't be so quick to believe China is fully satisified with the status quo. Their actions say otherwise and other asian nations are preparing. Why we aren't only means that there is an understanding... And understandings change.

