A country that controls its currency can always bail itself out of all debt by printing all that money. Now they would destroy their whole economy in the process because of inflation and countries being mad about a country doing that. If they don't pay and default they kind of also piss everyone off and that makes the curency rates fall as well. In that case they would repay as much as they want really, the price for not doing that is economy strengt. The dollar could lose the global currency status either way, fun!
But wouldn't it make sense to believe those debts are in gold or other sort of exchange coin?
I heard many Asian countries as selling US and buying Yen and Wuan as countermeasures for the possible devaluation of the USD and to guarantee trade.
I understood that the threat of doing so slowed down things but it seems inevitable at this point that it accelerates.
I am not sure on what I am talking about. This is what I understood from the news. I would like to be corrected if I'm wrong though
Regardless of what the debt is in you have to get that resource somehow, so if your debt is in euro, you'd have to print dollars to buy euro if all your economy provides is dollars. I don't know what US' debts are in, but dollar being the lingua franca of finance, it is probably their home currency. But if you have a debt in a currency that you don't own, then your acquisition of said currency with your home currency is kind of limited, because the market will react with fx rate so dollar yields less and less euro per unit the more dollars you print. In that case, the country would probably just not pay which annihilates trade relationships ergo economy. I don't know if I understand your first sentence correctly though, maybe that's not an answer you were searching for lmk :)
As for selling dollar for other currencies, I am sure it makes sense to dump some of it because it seems to be a bit more volatile, holding another country's currency is exposing you more to their economy after all. I am not sure what that has to do with guaranteeing trade, maybe someone smarter can answer that, my understanding is that you hold a currency buffer so that if you need to trade in some currency you already have some of it so it flows nicely, but I can be completely wrong.
I bloody hate the linkedin speak that is used in this article. I am sort of glad that a lot of AI articles use such language, since I was repulsed by it before AI was a proper thing, I don't have to update my filters :))
I doubt this ecosystem is dying, I am pretty sure it has reached the critical mass of software where enough things depend on it that if it is to die out it needs to be replaced by something way better. Some technology is here to stay for better or for worse (Java won't die no matter how hard I'd want it to).
Also nix is one of a better languages when it comes to ai, since invalid programs just don't really run. As long as I dislike the slop aspect of ai, I can trust it to do things to my nixos system without my system breaking, which I'd never even imagine on any other os. I believe that it may be one of a few languages that will benefit from clankers, since the barrier of entry is so high, you can use it as a very reliable crutch.
