[Max Combined]

They get paper that must be spent here eventually.

[A. Pole]

They get paper that must be spent here eventually.

The world market is widely open. They can sell dollars, US treasury bonds in other countries.

There are only two ways to get out of the debt trap - paid it back or default/go bankrupt. Otherwise one stays in the servitude for ever. Governments have one extra option - they can debase their currency. Imperial Spain did it.