Lately, I’ve been seeing a lot of posts on TikTok claiming that the U.S. has overissued Treasury bonds, interest rates are too high, and the debt can never be repaid—so the U.S. economy is about to collapse. In reality, these numerical changes don’t pose as great a threat to the U.S. as they seem. As long as the world still needs the U.S. dollar, this debt is effectively being shifted onto the global population. How does the world come to need the dollar? How is the burden of U.S. debt transferred globally? Originally, the dollar was tied to gold—but gold had a major flaw: it couldn’t be printed at will. After decoupling from gold, the dollar became tied to oil. Once global oil transactions were denominated in dollars, anyone needing energy had to buy dollars—and was thus forced to absorb the inflationary pressure from U.S. debt. Now, two new channels have emerged: AI: CPUs and GPUs are tied to the dollar. If you need AI computing resources, you must use dollars to purchase American hardware. Crypto: Dollar-stablecoins transmit U.S. debt globally. Whenever individuals in third-party countries hold dollar-stablecoins or buy dollar-denominated assets—such as U.S. stocks—they passively take on U.S. debt. Ultimately, this inflation is shared globally. In an environment with such high interest rates, if you don’t hold U.S. Treasuries or dollar-denominated assets that appreciate—like AI-related assets—your wealth will be eroded even faster by inflation. After all, beyond today’s AI sector, how many other businesses can consistently outperform a nearly 6% risk-free annual return?