{"content_id":"ccgwqj3b9t","slug":"us-debt-50-quadrillion-won-dollar-safety","locale":"en","schema_type":"Article","category":"knowledge_base","category_name":"Knowledge Base","title":"US Debt at 50 Quadrillion Won: Assessing Dollar Safety","summary":"The US fiscal burden is a risk to consider when evaluating dollar assets. However, debt levels alone cannot predict a dollar collapse. Purchasing power, exchange rates and product structure must be assessed separately.","sponsorship_disclosure":null,"affiliate_disclosure":null,"commerce_disclosure":null,"author":{"name":"Injoys Editorial Team","url":"https://injoys.com/ko/about"},"key_points":["US debt had already exceeded $38 trillion in October 2025, so this figure must not be reused as the current amount.","According to CBO figures, the US federal government's net interest outlays in fiscal year 2025 were $970 billion.","Issuing government bonds and central banks supplying money are different processes.","The dollar's share of international use and the returns on an individual's dollar assets are different metrics.","Diversification must account for the currency you will spend, your investment horizon and the losses you can tolerate."],"content_markdown":"The size of U.S. debt alone does not mean the dollar will collapse. The figure of 50 quadrillion won is a converted amount that varies with the exchange rate. The safety of dollar assets needs to be assessed separately in terms of purchasing power, exchange rates, and product structure.\n\nDebt and interest figures are based on the U.S. House of Representatives’ October 2025 announcement and the CBO’s fiscal year 2025 results.\n\n## What is the basis for the 50 quadrillion won figure for U.S. debt?\n\nThe figure of 50 quadrillion won is U.S. debt converted into Korean won. On October 23, 2025, the U.S. House Budget Committee announced that debt had surpassed $38 trillion. This amount should not be cited as the current debt in 2026. Check the Treasury’s Debt to the Penny for the latest balance. (Verified figure: $40,550,230,047,609.15, November 4, 2026 · Source: api.fiscaldata.treasury.gov · As of 2026-11-04 · Checked on 2026-11-06) [U.S. House announcement](https://budget.house.gov/press-release/chairman-arrington-sounds-alarm-as-national-debt-surpasses-38-trillion)\n\nWhen reading U.S. debt figures, first distinguish what each measure includes. Total debt includes Treasury securities held in government accounts. Debt held by the public also includes holdings by foreign investors and the Federal Reserve. It is therefore incorrect to interpret debt held by the public as debt owed to foreign countries. [U.S. Treasury financial stability report](https://home.treasury.gov/system/files/261/FSOC2025AnnualReport.pdf)\n\n| Measure | Meaning | Points to note when interpreting it |\n| --- | --- | --- |\n| Total federal debt | The sum of debt held by the public and intragovernmental holdings | The outstanding balance on a specific date |\n| Debt held by the public | Federal debt held outside government accounts | Includes holdings by domestic and foreign investors and central banks |\n| Fiscal deficit | The amount by which spending exceeds revenue over a given period | A measure over a period, unlike the outstanding debt balance |\n| Interest spending | Interest costs arising from debt | Gross interest and net interest need to be distinguished |\n\n### Calculating the conversion to 50 quadrillion won\n\nConverting $38 trillion to 50 quadrillion won lets us work backward to find the exchange rate used. The calculation is “50 quadrillion won ÷ 38 trillion dollars.” The result is **approximately 1,315.79 won per dollar**. This value is calculated from the two amounts, not an actual exchange rate on a particular date.\n\nThe won equivalent changes even if U.S. debt does not increase. If the won weakens against the dollar, the same dollar debt becomes larger when expressed in won. To assess the U.S. repayment burden, look at both the dollar principal and government revenue. The won equivalent alone is not enough to judge whether fiscal conditions have worsened.\n\n## Are U.S. interest costs higher than defense spending?\n\nIn fiscal year 2025, net interest spending exceeded defense spending. The CBO reported net interest of $970 billion. This figure is from the fiscal year 2025 results. It must be distinguished from the measure behind the phrase “annual interest of more than $1 trillion.” [CBO explanation of fiscal results](https://www.cbo.gov/publication/62286), [GAO debt management report](https://www.gao.gov/assets/gao-26-107529.pdf)\n\nGross interest and net interest cover different amounts. Net interest is budget spending that accounts for interest income and other adjustments. Comparisons with defense spending must use spending from the same fiscal year. The Department of Defense’s accrual-based costs must not be mixed with budgetary defense spending either.\n\nA credit rating downgrade has also already occurred. Moody’s lowered the U.S. long-term credit rating on May 16, 2025. The rating changed from Aaa to Aa1. This is an assessment of credit risk, not a prediction of a dollar crash on a particular date. [Moody’s announcement](https://www.moodys.com/web/en/us/about-us/usrating.html)\n\n## Does rising debt necessarily lead to printing money?\n\nIssuing Treasury securities does not itself mean that the central bank is issuing money. The U.S. Treasury raises funds by issuing Treasury securities. The Federal Reserve buys and sells securities according to monetary policy. The two institutions make separate decisions.\n\nThe Federal Reserve’s FAQ on Treasury securities transactions and government borrowing explains how purchases work.\n\n\u003e The Fed does not purchase new Treasury securities directly from the U.S. Treasury\n\u003e\n\u003e Federal Reserve, FAQ on the relationship between Treasury securities transactions and government borrowing\n\nThis means the Federal Reserve does not directly buy newly issued Treasury securities from the Treasury. That is different from buying existing Treasury securities in the open market. An explanation is available in the [Federal Reserve FAQ](https://www.federalreserve.gov/faqs/how-does-the-federal-reserve-buying-and-selling-of-securities-relate-to-the-borrowing-decisions-of-the-federal-government.htm).\n\nIf fiscal deficits increase demand, they can put upward pressure on prices. However, actual prices are also affected by production capacity and supply disruptions. The central bank’s interest rate response also changes the outcome. Rising debt alone therefore cannot predict hyperinflation.\n\n### Who loses from inflation?\n\nWhen prices rise, the same amount of cash buys less. Unexpected inflation can reduce the real burden of fixed-rate debt. Creditors who receive a fixed amount in repayment, on the other hand, can lose purchasing power. The metaphor “invisible tax” is used to describe this effect.\n\nThis does not mean the government always benefits. If interest rates on new borrowing rise, the interest burden also increases. Inflation-linked spending and debt are affected too. Owners of real assets can also suffer losses depending on their purchase price.\n\n## What are inflation expectations and the velocity of money?\n\nInflation expectations are expectations about how much prices will rise in the future. These expectations can affect wage negotiations and businesses’ pricing decisions. The velocity of money is measured as the ratio of nominal income to the money supply. It is not a count of how many times people actually exchange banknotes.\n\nThe equation of exchange is “money supply × velocity = price level × real output.” This equation alone does not establish cause and effect. A November 2026 study by the Federal Reserve Bank of St. Louis also examines changes in velocity. Its analysis finds that the relationship between money growth and prices is not constant. [Federal Reserve Bank of St. Louis study](https://www.stlouisfed.org/on-the-economy/2026/nov/does-money-supply-growth-predict-us-inflation)\n\n| Claim | Conditions required or limitations |\n| --- | --- |\n| If velocity is 3 to 4 times as high, prices are also 3 to 4 times as high | Requires the money supply and real output to remain unchanged |\n| An increase in velocity is the same as issuing money | An accounting equation’s result must be distinguished from the economic process |\n| Widespread expectations of rising prices cause hyperinflation | Policy responses and conditions affecting production and money must also be examined |\n\n## Does de-dollarization mean the collapse of dollar dominance?\n\nMoves to reduce dollar use can coexist with the dollar’s dominant position. A reserve currency is a currency widely used for international payments, reserve assets, and other purposes. A single country changing its payment currency does not eliminate that status. Statistics need to be examined separately by use.\n\n| Measure | Confirmed figure | Interpretation |\n| --- | --- | --- |\n| Dollar share of global official foreign exchange reserves with disclosed currency composition | 58% in 2024 | Currency composition of central bank reserve assets |\n| Share of global over-the-counter foreign exchange transactions with the dollar on one side | 89.2% in April 2025 | The extent of dollar use in foreign exchange markets |\n\nThe first figure comes from a 2025 Federal Reserve study. The second is from the BIS’s 2025 survey. Since foreign exchange transactions involve two currencies, the shares for all currencies add up to 200%. Neither measure guarantees the dollar’s future exchange rate. [Federal Reserve study](https://www.federalreserve.gov/econres/notes/feds-notes/the-international-role-of-the-u-s-dollar-2025-edition-20250718.html), [BIS foreign exchange survey](https://www.bis.org/publications/202509-commentary-otc-derivatives)\n\n### A BRICS common currency and payments in national currencies\n\nExpanding payments in national currencies and issuing a common currency are different steps. The 2025 BRICS Rio de Janeiro Declaration addresses discussions on cross-border payments. This declaration cannot be used as evidence that a gold-backed common currency has already been issued. Relevant plans should be checked against official agreements among member countries. [BRICS Leaders’ Declaration](https://www.thepresidency.gov.za/sites/default/files/2025-07/2025%20BRICS%20Leaders%20Declaration.pdf)\n\n### Claims that a petrodollar agreement expired\n\nThe “expiration of a 50-year dollar-only oil agreement” is difficult to present as a verified fact. A 1979 GAO report describes the U.S.-Saudi Arabian Joint Commission on Economic Cooperation. Its purposes include economic cooperation and the reinvestment of oil revenues. The report does not support the claim that an obligation to settle payments exclusively in dollars expired. [GAO economic cooperation commission report](https://www.gao.gov/products/id-79-7)\n\nClaims about Saudi oil payments in yuan also require verification for each transaction. A currency swap agreement alone does not prove that oil payments have actually been settled. Security agreements and oil sales contracts are also separate documents. To verify these claims, distinguish announcements by the contracting parties from payment records.\n\n### Will digital currencies replace the dollar?\n\nThe expansion of digital payments does not necessarily lead to less dollar use. A central bank digital currency, or CBDC, is digital money issued by a central bank. Dollar-linked stablecoins use the dollar’s value as their reference. Wider use of these tokens could increase dollar use.\n\nThe Federal Reserve’s 2025 study also presents possibilities in both directions. Changes in payment technology must be distinguished from changes in the reference currency. Bitcoin is not an asset designed to maintain the same price as the dollar. The history of reserve currency replacements alone cannot determine when the next replacement will happen.\n\n## Comparing the risks of dollars, gold, silver, and Bitcoin\n\nEach asset protects against different risks and introduces different risks of its own. Dollar deposits and long-term U.S. Treasury securities do not move in price in the same way. Holding gold, silver, and Bitcoin together does not eliminate losses. Decide why you are holding an asset before focusing on its name.\n\n| Asset | Potential role | Main risks |\n| --- | --- | --- |\n| Cash and deposits in the currency used for living expenses | Preparing for near-term spending | Loss of purchasing power from inflation, deposit terms |\n| Dollar deposits | Preparing for dollar spending, currency diversification | Dollar depreciation against the currency used for living expenses, financial institution risk |\n| U.S. Treasury securities | Managing funds to match maturity dates | Interest rate changes, prices when selling before maturity, exchange rates |\n| Gold | Diversifying some monetary and financial risks | Price declines, holding costs, no interest income |\n| Silver | Investing in precious metal and industrial demand | Economic changes, price fluctuations, transaction costs |\n| Bitcoin | Alternative investment involving high volatility | Sharp price declines, custody and trading risks |\n\nEven U.S. Treasury securities can incur price losses if sold before maturity. Generally, longer-maturity bonds are more sensitive to interest rate changes. Even if the principal is repaid in dollars, a loss is possible when converted into won. The SEC’s interest rate risk guide explains this distinction. [SEC guide to bond interest rate risk](https://www.sec.gov/investor/alerts/ib_interestraterisk.pdf)\n\nIf you are considering buying precious metals, check price fluctuations and sales terms. The CFTC warns about volatility and fraud in precious metals markets. Be wary of sales pitches promising easy profits. Pitches that use fears of economic collapse to encourage purchases are also a warning sign. [CFTC guide to precious metals investing](https://www.cftc.gov/LearnAndProtect/pubs/node/221806)\n\nBitcoin’s limited supply alone does not guarantee price increases. If demand falls, its price can decline. The SEC describes Bitcoin as a highly speculative investment. This price risk remains even when it is held through exchange-traded products. [SEC guide to crypto asset investing](https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins/ETPBulletinSeptember2024)\n\n## A breakdown by the currency you will spend\n\nThe safety of dollar assets depends on the currency in which you will spend money in the future. The same dollar deposit can serve different roles depending on its purpose. The following examples apply the relationship between the currency of spending and the currency of holdings. This table does not predict the direction of exchange rates.\n\n| Your situation | What to check first | Reasoning |\n| --- | --- | --- |\n| You need won for living expenses in the near term | Funds you can spend directly in won | A decline in the dollar at the time of conversion affects spending |\n| You plan to pay tuition or other bills in dollars | The dollar amount needed when payment is due | Holding dollars can reduce exchange rate fluctuations affecting that expense |\n| You hold long-term assets across several countries | Currency allocations and product-specific risks | Even many products can be concentrated in the same risks |\n| You hold Treasury securities that you are likely to sell before maturity | Maturity and interest rate sensitivity | The amount repaid at maturity differs from the current selling price |\n\nThe dollar’s international purchasing power and its exchange rate against the won are not the same measure either. While U.S. prices rise, the won can weaken even more against the dollar. In that case, the dollar’s purchasing power within the United States can fall while its won equivalent rises. Performance relative to living costs needs to account for both effects.\n\n## Common mistakes in discussions of a dollar crisis\n\nThe most common mistake is using a single forecast as the basis for buying and selling every asset. National debt statistics alone do not determine a suitable investment allocation for an individual. Each of the interpretations below requires a different basis for judgment.\n\n- Treating cash and deposits as having the same return structure: Deposits earn interest, but banknotes do not.\n- Treating a 10% gold allocation as the right answer for everyone: The appropriate allocation depends on the investment horizon and tolerance for losses.\n- Treating silver as simply cheap gold: A lower unit price is not enough to judge an asset as undervalued.\n- Treating Bitcoin’s scarcity as a guarantee of returns: Supply limits do not guarantee future demand.\n- Treating all dollar-denominated products as safe assets: Even with the same denomination currency, credit, interest rate, and price risks differ.\n\n## Steps for reviewing your assets\n\nStart your asset review by identifying when you will spend the money and in which currency. The SEC’s asset allocation guide also uses investment horizon and risk tolerance as criteria. The following steps apply those principles to dollar assets. [SEC asset allocation guide](https://www.investor.gov/introduction-investing/getting-started/asset-allocation)\n\n1. List your planned expenses by currency.\n2. Separate money for near-term spending from long-term investment funds.\n3. Check each product’s potential losses from selling before maturity and its exchange rate risk.\n4. Set allocations for each asset within the limits of the losses you can bear.\n5. If allocations drift from your plan, check the costs before adjusting them.\n\nRebalancing means bringing changed asset allocations back into line with your plan. It differs from buying or selling entire holdings whenever a new macroeconomic forecast appears. Diversification does not prevent losses from a market-wide decline either. The goal is to reduce concentrations of risk that would be difficult to bear.","content_html":"\u003cp\u003eThe size of U.S. debt alone does not mean the dollar will collapse. The figure of 50 quadrillion won is a converted amount that varies with the exchange rate. The safety of dollar assets needs to be assessed separately in terms of purchasing power, exchange rates, and product structure.\u003c/p\u003e\n\u003cp\u003eDebt and interest figures are based on the U.S. House of Representatives’ October 2025 announcement and the CBO’s fiscal year 2025 results.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#what-is-the-basis-for-the-50-quadrillion-won-figure-for-us-debt\" class=\"anchor\" id=\"what-is-the-basis-for-the-50-quadrillion-won-figure-for-us-debt\"\u003e\u003c/a\u003eWhat is the basis for the 50 quadrillion won figure for U.S. debt?\u003c/h2\u003e\n\u003cp\u003eThe figure of 50 quadrillion won is U.S. debt converted into Korean won. On October 23, 2025, the U.S. House Budget Committee announced that debt had surpassed $38 trillion. This amount should not be cited as the current debt in 2026. Check the Treasury’s Debt to the Penny for the latest balance. (Verified figure: $40,550,230,047,609.15, November 4, 2026 · Source: api.fiscaldata.treasury.gov · As of 2026-11-04 · Checked on 2026-11-06) \u003ca href=\"https://budget.house.gov/press-release/chairman-arrington-sounds-alarm-as-national-debt-surpasses-38-trillion\"\u003eU.S. House announcement\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eWhen reading U.S. debt figures, first distinguish what each measure includes. Total debt includes Treasury securities held in government accounts. Debt held by the public also includes holdings by foreign investors and the Federal Reserve. It is therefore incorrect to interpret debt held by the public as debt owed to foreign countries. \u003ca href=\"https://home.treasury.gov/system/files/261/FSOC2025AnnualReport.pdf\"\u003eU.S. Treasury financial stability report\u003c/a\u003e\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMeasure\u003c/th\u003e\n\u003cth\u003eMeaning\u003c/th\u003e\n\u003cth\u003ePoints to note when interpreting it\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Measure\"\u003eTotal federal debt\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eThe sum of debt held by the public and intragovernmental holdings\u003c/td\u003e\n\u003ctd data-label=\"Points to note when interpreting it\"\u003eThe outstanding balance on a specific date\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Measure\"\u003eDebt held by the public\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eFederal debt held outside government accounts\u003c/td\u003e\n\u003ctd data-label=\"Points to note when interpreting it\"\u003eIncludes holdings by domestic and foreign investors and central banks\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Measure\"\u003eFiscal deficit\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eThe amount by which spending exceeds revenue over a given period\u003c/td\u003e\n\u003ctd data-label=\"Points to note when interpreting it\"\u003eA measure over a period, unlike the outstanding debt balance\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Measure\"\u003eInterest spending\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eInterest costs arising from debt\u003c/td\u003e\n\u003ctd data-label=\"Points to note when interpreting it\"\u003eGross interest and net interest need to be distinguished\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003ch3\u003e\n\u003ca href=\"#calculating-the-conversion-to-50-quadrillion-won\" class=\"anchor\" id=\"calculating-the-conversion-to-50-quadrillion-won\"\u003e\u003c/a\u003eCalculating the conversion to 50 quadrillion won\u003c/h3\u003e\n\u003cp\u003eConverting $38 trillion to 50 quadrillion won lets us work backward to find the exchange rate used. The calculation is “50 quadrillion won ÷ 38 trillion dollars.” The result is \u003cstrong\u003eapproximately 1,315.79 won per dollar\u003c/strong\u003e. This value is calculated from the two amounts, not an actual exchange rate on a particular date.\u003c/p\u003e\n\u003cp\u003eThe won equivalent changes even if U.S. debt does not increase. If the won weakens against the dollar, the same dollar debt becomes larger when expressed in won. To assess the U.S. repayment burden, look at both the dollar principal and government revenue. The won equivalent alone is not enough to judge whether fiscal conditions have worsened.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#are-us-interest-costs-higher-than-defense-spending\" class=\"anchor\" id=\"are-us-interest-costs-higher-than-defense-spending\"\u003e\u003c/a\u003eAre U.S. interest costs higher than defense spending?\u003c/h2\u003e\n\u003cp\u003eIn fiscal year 2025, net interest spending exceeded defense spending. The CBO reported net interest of $970 billion. This figure is from the fiscal year 2025 results. It must be distinguished from the measure behind the phrase “annual interest of more than $1 trillion.” \u003ca href=\"https://www.cbo.gov/publication/62286\"\u003eCBO explanation of fiscal results\u003c/a\u003e, \u003ca href=\"https://www.gao.gov/assets/gao-26-107529.pdf\"\u003eGAO debt management report\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eGross interest and net interest cover different amounts. Net interest is budget spending that accounts for interest income and other adjustments. Comparisons with defense spending must use spending from the same fiscal year. The Department of Defense’s accrual-based costs must not be mixed with budgetary defense spending either.\u003c/p\u003e\n\u003cp\u003eA credit rating downgrade has also already occurred. Moody’s lowered the U.S. long-term credit rating on May 16, 2025. The rating changed from Aaa to Aa1. This is an assessment of credit risk, not a prediction of a dollar crash on a particular date. \u003ca href=\"https://www.moodys.com/web/en/us/about-us/usrating.html\"\u003eMoody’s announcement\u003c/a\u003e\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#does-rising-debt-necessarily-lead-to-printing-money\" class=\"anchor\" id=\"does-rising-debt-necessarily-lead-to-printing-money\"\u003e\u003c/a\u003eDoes rising debt necessarily lead to printing money?\u003c/h2\u003e\n\u003cp\u003eIssuing Treasury securities does not itself mean that the central bank is issuing money. The U.S. Treasury raises funds by issuing Treasury securities. The Federal Reserve buys and sells securities according to monetary policy. The two institutions make separate decisions.\u003c/p\u003e\n\u003cp\u003eThe Federal Reserve’s FAQ on Treasury securities transactions and government borrowing explains how purchases work.\u003c/p\u003e\n\u003cblockquote\u003e\n\u003cp\u003eThe Fed does not purchase new Treasury securities directly from the U.S. Treasury\u003c/p\u003e\n\u003cp\u003eFederal Reserve, FAQ on the relationship between Treasury securities transactions and government borrowing\u003c/p\u003e\n\u003c/blockquote\u003e\n\u003cp\u003eThis means the Federal Reserve does not directly buy newly issued Treasury securities from the Treasury. That is different from buying existing Treasury securities in the open market. An explanation is available in the \u003ca href=\"https://www.federalreserve.gov/faqs/how-does-the-federal-reserve-buying-and-selling-of-securities-relate-to-the-borrowing-decisions-of-the-federal-government.htm\"\u003eFederal Reserve FAQ\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003eIf fiscal deficits increase demand, they can put upward pressure on prices. However, actual prices are also affected by production capacity and supply disruptions. The central bank’s interest rate response also changes the outcome. Rising debt alone therefore cannot predict hyperinflation.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#who-loses-from-inflation\" class=\"anchor\" id=\"who-loses-from-inflation\"\u003e\u003c/a\u003eWho loses from inflation?\u003c/h3\u003e\n\u003cp\u003eWhen prices rise, the same amount of cash buys less. Unexpected inflation can reduce the real burden of fixed-rate debt. Creditors who receive a fixed amount in repayment, on the other hand, can lose purchasing power. The metaphor “invisible tax” is used to describe this effect.\u003c/p\u003e\n\u003cp\u003eThis does not mean the government always benefits. If interest rates on new borrowing rise, the interest burden also increases. Inflation-linked spending and debt are affected too. Owners of real assets can also suffer losses depending on their purchase price.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#what-are-inflation-expectations-and-the-velocity-of-money\" class=\"anchor\" id=\"what-are-inflation-expectations-and-the-velocity-of-money\"\u003e\u003c/a\u003eWhat are inflation expectations and the velocity of money?\u003c/h2\u003e\n\u003cp\u003eInflation expectations are expectations about how much prices will rise in the future. These expectations can affect wage negotiations and businesses’ pricing decisions. The velocity of money is measured as the ratio of nominal income to the money supply. It is not a count of how many times people actually exchange banknotes.\u003c/p\u003e\n\u003cp\u003eThe equation of exchange is “money supply × velocity = price level × real output.” This equation alone does not establish cause and effect. A November 2026 study by the Federal Reserve Bank of St. Louis also examines changes in velocity. Its analysis finds that the relationship between money growth and prices is not constant. \u003ca href=\"https://www.stlouisfed.org/on-the-economy/2026/nov/does-money-supply-growth-predict-us-inflation\"\u003eFederal Reserve Bank of St. Louis study\u003c/a\u003e\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eClaim\u003c/th\u003e\n\u003cth\u003eConditions required or limitations\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Claim\"\u003eIf velocity is 3 to 4 times as high, prices are also 3 to 4 times as high\u003c/td\u003e\n\u003ctd data-label=\"Conditions required or limitations\"\u003eRequires the money supply and real output to remain unchanged\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Claim\"\u003eAn increase in velocity is the same as issuing money\u003c/td\u003e\n\u003ctd data-label=\"Conditions required or limitations\"\u003eAn accounting equation’s result must be distinguished from the economic process\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Claim\"\u003eWidespread expectations of rising prices cause hyperinflation\u003c/td\u003e\n\u003ctd data-label=\"Conditions required or limitations\"\u003ePolicy responses and conditions affecting production and money must also be examined\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003ch2\u003e\n\u003ca href=\"#does-de-dollarization-mean-the-collapse-of-dollar-dominance\" class=\"anchor\" id=\"does-de-dollarization-mean-the-collapse-of-dollar-dominance\"\u003e\u003c/a\u003eDoes de-dollarization mean the collapse of dollar dominance?\u003c/h2\u003e\n\u003cp\u003eMoves to reduce dollar use can coexist with the dollar’s dominant position. A reserve currency is a currency widely used for international payments, reserve assets, and other purposes. A single country changing its payment currency does not eliminate that status. Statistics need to be examined separately by use.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMeasure\u003c/th\u003e\n\u003cth\u003eConfirmed figure\u003c/th\u003e\n\u003cth\u003eInterpretation\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Measure\"\u003eDollar share of global official foreign exchange reserves with disclosed currency composition\u003c/td\u003e\n\u003ctd data-label=\"Confirmed figure\"\u003e58% in 2024\u003c/td\u003e\n\u003ctd data-label=\"Interpretation\"\u003eCurrency composition of central bank reserve assets\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Measure\"\u003eShare of global over-the-counter foreign exchange transactions with the dollar on one side\u003c/td\u003e\n\u003ctd data-label=\"Confirmed figure\"\u003e89.2% in April 2025\u003c/td\u003e\n\u003ctd data-label=\"Interpretation\"\u003eThe extent of dollar use in foreign exchange markets\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe first figure comes from a 2025 Federal Reserve study. The second is from the BIS’s 2025 survey. Since foreign exchange transactions involve two currencies, the shares for all currencies add up to 200%. Neither measure guarantees the dollar’s future exchange rate. \u003ca href=\"https://www.federalreserve.gov/econres/notes/feds-notes/the-international-role-of-the-u-s-dollar-2025-edition-20250718.html\"\u003eFederal Reserve study\u003c/a\u003e, \u003ca href=\"https://www.bis.org/publications/202509-commentary-otc-derivatives\"\u003eBIS foreign exchange survey\u003c/a\u003e\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#a-brics-common-currency-and-payments-in-national-currencies\" class=\"anchor\" id=\"a-brics-common-currency-and-payments-in-national-currencies\"\u003e\u003c/a\u003eA BRICS common currency and payments in national currencies\u003c/h3\u003e\n\u003cp\u003eExpanding payments in national currencies and issuing a common currency are different steps. The 2025 BRICS Rio de Janeiro Declaration addresses discussions on cross-border payments. This declaration cannot be used as evidence that a gold-backed common currency has already been issued. Relevant plans should be checked against official agreements among member countries. \u003ca href=\"https://www.thepresidency.gov.za/sites/default/files/2025-07/2025%20BRICS%20Leaders%20Declaration.pdf\"\u003eBRICS Leaders’ Declaration\u003c/a\u003e\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#claims-that-a-petrodollar-agreement-expired\" class=\"anchor\" id=\"claims-that-a-petrodollar-agreement-expired\"\u003e\u003c/a\u003eClaims that a petrodollar agreement expired\u003c/h3\u003e\n\u003cp\u003eThe “expiration of a 50-year dollar-only oil agreement” is difficult to present as a verified fact. A 1979 GAO report describes the U.S.-Saudi Arabian Joint Commission on Economic Cooperation. Its purposes include economic cooperation and the reinvestment of oil revenues. The report does not support the claim that an obligation to settle payments exclusively in dollars expired. \u003ca href=\"https://www.gao.gov/products/id-79-7\"\u003eGAO economic cooperation commission report\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eClaims about Saudi oil payments in yuan also require verification for each transaction. A currency swap agreement alone does not prove that oil payments have actually been settled. Security agreements and oil sales contracts are also separate documents. To verify these claims, distinguish announcements by the contracting parties from payment records.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#will-digital-currencies-replace-the-dollar\" class=\"anchor\" id=\"will-digital-currencies-replace-the-dollar\"\u003e\u003c/a\u003eWill digital currencies replace the dollar?\u003c/h3\u003e\n\u003cp\u003eThe expansion of digital payments does not necessarily lead to less dollar use. A central bank digital currency, or CBDC, is digital money issued by a central bank. Dollar-linked stablecoins use the dollar’s value as their reference. Wider use of these tokens could increase dollar use.\u003c/p\u003e\n\u003cp\u003eThe Federal Reserve’s 2025 study also presents possibilities in both directions. Changes in payment technology must be distinguished from changes in the reference currency. Bitcoin is not an asset designed to maintain the same price as the dollar. The history of reserve currency replacements alone cannot determine when the next replacement will happen.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#comparing-the-risks-of-dollars-gold-silver-and-bitcoin\" class=\"anchor\" id=\"comparing-the-risks-of-dollars-gold-silver-and-bitcoin\"\u003e\u003c/a\u003eComparing the risks of dollars, gold, silver, and Bitcoin\u003c/h2\u003e\n\u003cp\u003eEach asset protects against different risks and introduces different risks of its own. Dollar deposits and long-term U.S. Treasury securities do not move in price in the same way. Holding gold, silver, and Bitcoin together does not eliminate losses. Decide why you are holding an asset before focusing on its name.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eAsset\u003c/th\u003e\n\u003cth\u003ePotential role\u003c/th\u003e\n\u003cth\u003eMain risks\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Asset\"\u003eCash and deposits in the currency used for living expenses\u003c/td\u003e\n\u003ctd data-label=\"Potential role\"\u003ePreparing for near-term spending\u003c/td\u003e\n\u003ctd data-label=\"Main risks\"\u003eLoss of purchasing power from inflation, deposit terms\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Asset\"\u003eDollar deposits\u003c/td\u003e\n\u003ctd data-label=\"Potential role\"\u003ePreparing for dollar spending, currency diversification\u003c/td\u003e\n\u003ctd data-label=\"Main risks\"\u003eDollar depreciation against the currency used for living expenses, financial institution risk\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Asset\"\u003eU.S. Treasury securities\u003c/td\u003e\n\u003ctd data-label=\"Potential role\"\u003eManaging funds to match maturity dates\u003c/td\u003e\n\u003ctd data-label=\"Main risks\"\u003eInterest rate changes, prices when selling before maturity, exchange rates\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Asset\"\u003eGold\u003c/td\u003e\n\u003ctd data-label=\"Potential role\"\u003eDiversifying some monetary and financial risks\u003c/td\u003e\n\u003ctd data-label=\"Main risks\"\u003ePrice declines, holding costs, no interest income\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Asset\"\u003eSilver\u003c/td\u003e\n\u003ctd data-label=\"Potential role\"\u003eInvesting in precious metal and industrial demand\u003c/td\u003e\n\u003ctd data-label=\"Main risks\"\u003eEconomic changes, price fluctuations, transaction costs\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Asset\"\u003eBitcoin\u003c/td\u003e\n\u003ctd data-label=\"Potential role\"\u003eAlternative investment involving high volatility\u003c/td\u003e\n\u003ctd data-label=\"Main risks\"\u003eSharp price declines, custody and trading risks\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eEven U.S. Treasury securities can incur price losses if sold before maturity. Generally, longer-maturity bonds are more sensitive to interest rate changes. Even if the principal is repaid in dollars, a loss is possible when converted into won. The SEC’s interest rate risk guide explains this distinction. \u003ca href=\"https://www.sec.gov/investor/alerts/ib_interestraterisk.pdf\"\u003eSEC guide to bond interest rate risk\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eIf you are considering buying precious metals, check price fluctuations and sales terms. The CFTC warns about volatility and fraud in precious metals markets. Be wary of sales pitches promising easy profits. Pitches that use fears of economic collapse to encourage purchases are also a warning sign. \u003ca href=\"https://www.cftc.gov/LearnAndProtect/pubs/node/221806\"\u003eCFTC guide to precious metals investing\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eBitcoin’s limited supply alone does not guarantee price increases. If demand falls, its price can decline. The SEC describes Bitcoin as a highly speculative investment. This price risk remains even when it is held through exchange-traded products. \u003ca href=\"https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins/ETPBulletinSeptember2024\"\u003eSEC guide to crypto asset investing\u003c/a\u003e\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#a-breakdown-by-the-currency-you-will-spend\" class=\"anchor\" id=\"a-breakdown-by-the-currency-you-will-spend\"\u003e\u003c/a\u003eA breakdown by the currency you will spend\u003c/h2\u003e\n\u003cp\u003eThe safety of dollar assets depends on the currency in which you will spend money in the future. The same dollar deposit can serve different roles depending on its purpose. The following examples apply the relationship between the currency of spending and the currency of holdings. This table does not predict the direction of exchange rates.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eYour situation\u003c/th\u003e\n\u003cth\u003eWhat to check first\u003c/th\u003e\n\u003cth\u003eReasoning\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou need won for living expenses in the near term\u003c/td\u003e\n\u003ctd data-label=\"What to check first\"\u003eFunds you can spend directly in won\u003c/td\u003e\n\u003ctd data-label=\"Reasoning\"\u003eA decline in the dollar at the time of conversion affects spending\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou plan to pay tuition or other bills in dollars\u003c/td\u003e\n\u003ctd data-label=\"What to check first\"\u003eThe dollar amount needed when payment is due\u003c/td\u003e\n\u003ctd data-label=\"Reasoning\"\u003eHolding dollars can reduce exchange rate fluctuations affecting that expense\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou hold long-term assets across several countries\u003c/td\u003e\n\u003ctd data-label=\"What to check first\"\u003eCurrency allocations and product-specific risks\u003c/td\u003e\n\u003ctd data-label=\"Reasoning\"\u003eEven many products can be concentrated in the same risks\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou hold Treasury securities that you are likely to sell before maturity\u003c/td\u003e\n\u003ctd data-label=\"What to check first\"\u003eMaturity and interest rate sensitivity\u003c/td\u003e\n\u003ctd data-label=\"Reasoning\"\u003eThe amount repaid at maturity differs from the current selling price\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe dollar’s international purchasing power and its exchange rate against the won are not the same measure either. While U.S. prices rise, the won can weaken even more against the dollar. In that case, the dollar’s purchasing power within the United States can fall while its won equivalent rises. Performance relative to living costs needs to account for both effects.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#common-mistakes-in-discussions-of-a-dollar-crisis\" class=\"anchor\" id=\"common-mistakes-in-discussions-of-a-dollar-crisis\"\u003e\u003c/a\u003eCommon mistakes in discussions of a dollar crisis\u003c/h2\u003e\n\u003cp\u003eThe most common mistake is using a single forecast as the basis for buying and selling every asset. National debt statistics alone do not determine a suitable investment allocation for an individual. Each of the interpretations below requires a different basis for judgment.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eTreating cash and deposits as having the same return structure: Deposits earn interest, but banknotes do not.\u003c/li\u003e\n\u003cli\u003eTreating a 10% gold allocation as the right answer for everyone: The appropriate allocation depends on the investment horizon and tolerance for losses.\u003c/li\u003e\n\u003cli\u003eTreating silver as simply cheap gold: A lower unit price is not enough to judge an asset as undervalued.\u003c/li\u003e\n\u003cli\u003eTreating Bitcoin’s scarcity as a guarantee of returns: Supply limits do not guarantee future demand.\u003c/li\u003e\n\u003cli\u003eTreating all dollar-denominated products as safe assets: Even with the same denomination currency, credit, interest rate, and price risks differ.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch2\u003e\n\u003ca href=\"#steps-for-reviewing-your-assets\" class=\"anchor\" id=\"steps-for-reviewing-your-assets\"\u003e\u003c/a\u003eSteps for reviewing your assets\u003c/h2\u003e\n\u003cp\u003eStart your asset review by identifying when you will spend the money and in which currency. The SEC’s asset allocation guide also uses investment horizon and risk tolerance as criteria. The following steps apply those principles to dollar assets. \u003ca href=\"https://www.investor.gov/introduction-investing/getting-started/asset-allocation\"\u003eSEC asset allocation guide\u003c/a\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eList your planned expenses by currency.\u003c/li\u003e\n\u003cli\u003eSeparate money for near-term spending from long-term investment funds.\u003c/li\u003e\n\u003cli\u003eCheck each product’s potential losses from selling before maturity and its exchange rate risk.\u003c/li\u003e\n\u003cli\u003eSet allocations for each asset within the limits of the losses you can bear.\u003c/li\u003e\n\u003cli\u003eIf allocations drift from your plan, check the costs before adjusting them.\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eRebalancing means bringing changed asset allocations back into line with your plan. It differs from buying or selling entire holdings whenever a new macroeconomic forecast appears. Diversification does not prevent losses from a market-wide decline either. The goal is to reduce concentrations of risk that would be difficult to bear.\u003c/p\u003e\n","tags":["Diversification","Asset allocation","Global economy","Inflation","Exchange rate","Public Finance"],"faqs":[{"question":"Is U.S. debt still $38 trillion?","answer":"U.S. debt had already exceeded $38 trillion in October 2025. The current balance needs to be checked using the latest dated record in the U.S. Treasury's Debt to the Penny."},{"question":"What exchange rate was used to value U.S. debt at 50 quadrillion won?","answer":"Calculating the ratio between $38 trillion and 50 quadrillion won gives about 1,315.79 won per dollar. This is calculated from the two amounts, not an actual exchange rate from a specific date."},{"question":"Did U.S. interest spending exceed defense spending?","answer":"In fiscal year 2025, net interest spending exceeded defense spending. According to the CBO, net interest for that fiscal year was $970 billion."},{"question":"When the U.S. government issues Treasury securities, does the dollar supply increase by the same amount?","answer":"Issuing Treasury securities and the central bank's money supply operations are separate processes. The Federal Reserve explains that it does not directly purchase newly issued Treasury securities from the Treasury."},{"question":"Does inflation solve the government's debt problem?","answer":"Unexpected price increases can reduce the real burden of existing fixed-rate debt. However, the fiscal burden can grow if refinancing rates rise or inflation-linked spending increases."},{"question":"What does the dollar's 89.2% share of foreign exchange trading mean?","answer":"It is the share of global over-the-counter foreign exchange transactions that had the dollar on one side in the BIS survey from April 2025. Since each transaction involves two currencies, the shares of all currencies add up to 200%."},{"question":"Are dollar stablecoins assets that reduce reliance on the dollar?","answer":"Dollar-pegged stablecoins use the dollar's value as their reference. A shift to digital payments does not mean less reliance on the dollar."},{"question":"Is the principal on U.S. Treasury securities guaranteed even if you sell before maturity?","answer":"The sale price before maturity varies with market interest rates. Selling before maturity can result in a loss in dollar terms, and exchange rate changes can cause a separate loss."},{"question":"Do you have to hold 10% of your assets in gold?","answer":"There is no mandatory allocation that applies to everyone. You should decide based on your investment horizon, spending plans, and how much of a price decline you can tolerate."},{"question":"Does Bitcoin always rise when the dollar's value falls?","answer":"Bitcoin's limited supply alone does not guarantee a price increase. Its price can fall depending on demand and market conditions, and the SEC describes it as a highly speculative investment."},{"question":"Is it safer to hold money for living expenses in dollars if those expenses are in won?","answer":"If the dollar has fallen against the won when you need to pay your living expenses, you will receive less when you exchange it. For near-term expenses, first check the relationship between the currency you will spend and the currency you hold."},{"question":"Does buying gold, silver, and Bitcoin together provide enough diversification?","answer":"Even if you hold more types of assets, they can fall at the same time. You also need to consider the currencies, product structures, and timing of your expenses."}],"sources":[{"url":"https://budget.house.gov/press-release/chairman-arrington-sounds-alarm-as-national-debt-surpasses-38-trillion","title":"U.S. House Budget Committee, October 23, 2025 announcement that the national debt surpassed $38 trillion","type":"data_point"},{"url":"https://catalog.data.gov/dataset/debt-to-the-penny","title":"U.S. government data catalog, Treasury Department Debt to the Penny","type":"source"},{"url":"https://home.treasury.gov/system/files/261/FSOC2025AnnualReport.pdf","title":"U.S. Department of the Treasury, Financial Stability Oversight Council 2025 Annual Report","type":"source"},{"url":"https://www.cbo.gov/publication/62286","title":"CBO, explanation of federal budget results for fiscal year 2025","type":"data_point"},{"url":"https://www.gao.gov/assets/gao-26-107529.pdf","title":"GAO-26-107529, risks in U.S. federal debt management and the fiscal outlook","type":"source"},{"url":"https://www.moodys.com/web/en/us/about-us/usrating.html","title":"Moody’s, May 16, 2025 adjustment to the U.S. credit rating","type":"source"},{"url":"https://www.federalreserve.gov/faqs/how-does-the-federal-reserve-buying-and-selling-of-securities-relate-to-the-borrowing-decisions-of-the-federal-government.htm","title":"Federal Reserve FAQ, relationship between securities purchases and sales and federal government borrowing","type":"source"},{"url":"https://www.stlouisfed.org/on-the-economy/2026/nov/does-money-supply-growth-predict-us-inflation","title":"Federal Reserve Bank of St. Louis, relationship between money supply growth and U.S. inflation","type":"source"},{"url":"https://www.federalreserve.gov/econres/notes/feds-notes/the-international-role-of-the-u-s-dollar-2025-edition-20250718.html","title":"Federal Reserve, The International Role of the U.S. Dollar 2025 Edition","type":"data_point"},{"url":"https://www.bis.org/publications/202509-commentary-otc-derivatives","title":"BIS, April 2025 survey of over-the-counter foreign exchange trading","type":"data_point"},{"url":"https://www.thepresidency.gov.za/sites/default/files/2025-07/2025%20BRICS%20Leaders%20Declaration.pdf","title":"BRICS, 2025 Rio de Janeiro Summit Declaration","type":"source"},{"url":"https://www.gao.gov/products/id-79-7","title":"GAO, The U.S.-Saudi Arabian Joint Commission on Economic Cooperation","type":"source"},{"url":"https://www.sec.gov/investor/alerts/ib_interestraterisk.pdf","title":"SEC, investor guide to interest rate risk in bonds","type":"source"},{"url":"https://www.cftc.gov/LearnAndProtect/pubs/node/221806","title":"CFTC, The Risks of Buying Gold, Silver and Platinum","type":"source"},{"url":"https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins/ETPBulletinSeptember2024","title":"SEC Investor.gov, investor guide to bitcoin and ether exchange-traded products","type":"source"},{"url":"https://www.investor.gov/introduction-investing/getting-started/asset-allocation","title":"SEC Investor.gov, Asset Allocation and Diversification","type":"source"}],"images":[{"id":2508,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6Mzg5MDEsInB1ciI6ImJsb2JfaWQifX0=--e99ba55e1f33f4bbd47aced2da851d3520ed5e6d/ai-0c20bea1.webp","is_representative":true,"generation_method":"ai_photo","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"초록색 코트와 아이보리색 목도리를 두른 여성이 사람들이 서 있는 홀에서 벽의 선 그래프를 등지고 서 있다.","caption":"달러 자산은 구매력과 환율 변동을 구분해 평가해야 합니다.","description":null},"en":{"alt":"A woman in a green coat and ivory scarf stands in a hall with people and a line graph behind her.","caption":"Dollar assets should be assessed by distinguishing purchasing power from exchange-rate fluctuations.","description":null},"ja":{"alt":"緑のコートとアイボリーのマフラーを着けた女性が、人々や壁の折れ線グラフを背にホールに立っている。","caption":"ドル資産は、購買力と為替変動を区別して評価する必要があります。","description":null},"es":{"alt":"Una mujer con abrigo verde y bufanda marfil está en un vestíbulo con personas y un gráfico de líneas detrás.","caption":"Los activos en dólares deben evaluarse distinguiendo el poder adquisitivo de las fluctuaciones cambiarias.","description":null},"id":{"alt":"Perempuan berjas hijau dan syal gading berdiri di aula dengan orang-orang dan grafik garis di belakangnya.","caption":"Aset dolar perlu dinilai dengan membedakan daya beli dari fluktuasi nilai tukar.","description":null},"pt":{"alt":"Uma mulher de casaco verde e cachecol marfim está num saguão com pessoas e um gráfico de linhas ao fundo.","caption":"Os ativos em dólar devem ser avaliados distinguindo o poder de compra das oscilações cambiais.","description":null},"zh-hant":{"alt":"一名穿著綠色大衣、圍著象牙白圍巾的女子站在大廳，身後有其他人及牆上的折線圖。","caption":"評估美元資產時，應區分購買力與匯率波動。","description":null},"de":{"alt":"Eine Frau in grünem Mantel und cremefarbenem Schal steht in einer Halle vor Menschen und einem Liniendiagramm.","caption":"Bei der Bewertung von Dollar-Anlagen sind Kaufkraft und Wechselkursschwankungen getrennt zu betrachten.","description":null}}},{"id":2509,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6Mzg5MDcsInB1ciI6ImJsb2JfaWQifX0=--3703be013cd61827bc00c655ecdda13ebeb8c30c/ai-002873f2.webp","is_representative":false,"generation_method":"ai_semi","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"야외 시장에서 장바구니를 든 노년 남성이 감자를 고르고, 옆에는 물가 상승을 나타내는 그래픽이 있다.","caption":"물가가 오르면 같은 달러로 살 수 있는 양이 줄어듭니다.","description":null},"en":{"alt":"An older man selects potatoes at an outdoor market, with a shopping basket and graphics suggesting rising prices.","caption":"Rising prices reduce how much the same amount of dollars can buy.","description":null},"ja":{"alt":"屋外市場で買い物かごを持った年配の男性がジャガイモを選び、横には物価上昇を示す図が添えられている。","caption":"物価が上がると、同じ額のドルで買える量が減ります。","description":null},"es":{"alt":"Un hombre mayor elige patatas en un mercado al aire libre, con una cesta y gráficos que sugieren precios al alza.","caption":"La subida de precios reduce lo que se puede comprar con la misma cantidad de dólares.","description":null},"id":{"alt":"Pria lanjut usia memilih kentang di pasar terbuka, dengan keranjang belanja dan grafis kenaikan harga.","caption":"Kenaikan harga mengurangi jumlah yang bisa dibeli dengan nominal dolar yang sama.","description":null},"pt":{"alt":"Um homem idoso escolhe batatas numa feira, com uma cesta de compras e gráficos que sugerem aumento de preços.","caption":"A alta dos preços reduz o que se pode comprar com a mesma quantia em dólares.","description":null},"zh-hant":{"alt":"一名年長男子提著購物籃，在露天市場挑選馬鈴薯，旁邊疊加了表示物價上漲的圖示。","caption":"物價上漲時，同樣金額的美元能買到的東西會減少。","description":null},"de":{"alt":"Ein älterer Mann wählt auf einem Freiluftmarkt Kartoffeln aus, daneben ein Einkaufskorb und Grafiken zum Preisanstieg.","caption":"Steigende Preise verringern, was sich mit demselben Dollarbetrag kaufen lässt.","description":null}}}],"published_at":"2026-11-06T21:41:26+09:00","updated_at":"2026-11-06T21:41:26+09:00","license":"cc_by","translation_status":"reviewed","available_locales":["ko","en","ja","es"],"data_locales":["ko","en","ja","es","id","pt","zh-hant","de"],"url":"https://injoys.com/en/articles/us-debt-50-quadrillion-won-dollar-safety"}