[Age of Reason]

there is never any mention that China feels it HAS to buy our T-Bills in order to keep the dollar HIGH. We keep trying to depreciate the dollar in order to finance our debt with cheaper dollars, and China keeps buying T-Bills to keep the dollar strong. If the dollar were to go down, the price advantage Chinese goods have in the US would quickly erode. The end result is that we buy their cheap goods and they keep buying our paper.

Plus, it's illegal for anyone in China to hold American dollars except for the Chinese government.

China makes its businesses turn over American dollars to the government in exchange for less than a fair amount of Yen.

And thus American jobs move overseas.

Not because the American worker doesn't work hard enough.

Not because the American worker isn't as smart as foreign workers.

But because the American worker gets paid with overvalued American dollars, whereas Chinese workers get paid with undervalued Yen.

The American worker is the victim of an economic jiu-jitsu.

[Last Dakotan]

But because the American worker gets paid with overvalued American dollars, whereas Chinese workers get paid with undervalued Yen.

Well said..