Good. Donald Biden (or Joe Trump) have turned the USD and US debt into a dumpster fire. The sooner other countries dump it the better their finances will be.

[–] verstra@programming.dev 1 points 1 month ago (1 children)

Can someone ELI5?

[–] yogthos@lemmy.ml 7 points 1 month ago (1 children)

Japanese investors hold a large chunk of US bonds. With the yen rallying against the dollar and US rates being high, they're looking to dump their bonds because otherwise they're going to start losing money on them.

[–] verstra@programming.dev 4 points 1 month ago

Oh and the implication is that that could further devalue US bonds. Got ya, thanks.

[–] LemmyHead@lemmy.ml 1 points 1 month ago

They'd never do it if it'd hurt USA so badly. They rely strongly on them on many fields, including military support