It’s crazy, the USA has frozen assets that belong to Russia but are deposited in US Banks.
Russia defaults, what happens if the USA takes those frozen Russian Assets and pays the debts of Russia, avoiding a default and the triggering a debt crisis.
You have to ask yourself if you are foreign country with deposits in US Banks, how comfortable are you with the idea that at any time the USA could confiscate your assets...
Biden has weaponized the USD, and even gold
How many BRICS and developing world trust our future benevolence toward their sovereignty, to keep their reserves under our control?