China traded its #1 problem -- hundreds of millions unemployed and living on the edge of starvation -- for our #1 and #2 assets: our technical knowledge and wealth (capital). They've known from the beginning that the USD was just a piece of bumf. They aren't playing for payoff of all US treasuries; if they quit the poker game right now they have won beyond their wildest initial dreams. They are stuck with a trillion of bad debt? So what? They now effectively OWN all the infrastructure and technological manufacturing capability which used to belong in the US and they now effectively OWN all the US technology.
The US "defaulting" will reveal the US as a criminal fraud, not able to buy anything on world markets for "cash" or credit and yet utterly at the mercy of foreign creditors for actual production, and vault the Chinese into likely receivership of global economic hegemony. And, of course, they can then -- most likely LEGALLY, and certainly morally -- take full ownership of all assets previously owned by US corporations and US citizens.
Fait accompli. And they didn't need to fire a shot.
Think it through. It's not that hard.
Bill of Rights /Amendment X: "The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people."
Do you need a politician or judge to "interpret" those 28