Dear American people:
In this world, people don't trust any nation but the US because of the Federal Reserve system. The issue of US dollar, every penny of it, needs the guarantee of US Treasuries. Let's think the issue seriously...If one day, the Fed Reserve system is rewritten which permits the US dollar issue can no longer need the same amount of US government bond support. For example, the US congress may permit an one-time exceptional 10 trillion US dollar issue without the guarantee of US government debt. And the US governement uses the 10 trillion US dollar to buy back the existing US government debt in the market. Then we may see the US debt level is largely reduced from 18 trillion to 8 trillion. How about that? Do you think that is a good idea?
If it is a good idea, will the US Fed do that for the whole American people? Release the whole American people from the US debt nightmare hereafter. What do you think? It may bring inflation to the US or it just lets those greeback out of the US and even pushes up the currency of USD. Lately we see the case of euro and Japanese yen. But it may cause the short supply of US Treasuries and even lead the US 10-yrs bond yield into the negative territory because there are too much US dollar but a few US government bonds. Then we may see the negative yield of US Treasuries happens in the USA just as we see in the West European countries and Japan. Is is good for pension fund? Is is good for those people who rely on the US Treasury for their pension? Is it a good idea? In the end, it does destroy the credibility of US dollar. You may ask how come the quantitative easing of euro or Japanese yen doesn't destroy the credibility of those currencies. To be honest, it remains to be seen. People may find out, in the end, that the money on which the wealth is built may be just an illusion.
Red China can issue the RMB without the guarantee of its government bond. So does other nation. Then, American people should ask one question...How come it can not be implemented the same way in the USA?
By the way, Mr Trump is a retar........