EXPLAINER
Money & global powerWho owns U.S. government debt?
The answer is less exotic than most viral versions.
What this covers
- The split between domestic and foreign holders
- What government agencies and central banks hold and why
- What foreign holdings do and do not give a country leverage over
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EXPLAINER
Sovereign debt
Who lends to governments, and what happens when it goes wrong.
How the world actually works
EXPLAINER
What actually happens when a country defaults?
Not a switch being flipped — a slow, negotiated mess.
Money & global power
EXPLAINER
Central banks
The tools, the mandates and the limits.
How the world actually works
EXPLAINER
Why is the U.S. dollar the world's main reserve currency?
Depth, law, habit — and what would actually have to change.
Money & global power