Because you print dollars. The US dollar is a debt instrument that you (Americans) sell to the world. We give you our money as a loan and you give us dollars at a predetermined rate back to us.
You are then indebted to every single bond holder, from the Banks of China and Europe to the retail bond holder or USDT holder.
That means, because the dollar is off a gold standard, that we are earning a sum total of potential from the American consensus and not it's weight in gold. We're giving you money and you're giving us a promise to uphold that dollar.
But you're slacking. So we're not holding bonds any more.
That's why it feels the way it does.
