At some point, it's possible that we could default on our debt. In that situation, it's conceivable that they'd demand seizure of some of our assets. We purchased Alaska from Russia long ago. Considering the oil and geographical proximity of Alaska, perhaps that's what they'd want in payment of our debt. We might even be forced to toss in Hawaii.
Oh no, they'd demand Alaska. Perhaps we'd tell them to pound sand. They can buy all the T-Bills they want. We can print the money to pay them back. Paper is cheap.
Nah, the bankers wouldn't stand for that. They get a commission on the transaction no matter which way it goes. But they may persuade China to accept Kalifornia instead: there's a lot more mortgages to foreclose on and eviction notices to serve. Bankers like that!
They can buy all the T-Bills they want. We can print the money to pay them back. Paper is cheap.
True, devaluation is another option... if you don't mind pushing a wheelbarrow full of money to the corner store just to buy a loaf of bread.