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Add to that mix over 70% on international trade is done in US$'s and as people head for safety they mostly have to trade in $'s and hence demand for $'s increases. Fed then prints trillions of $'s to pump into the US economy and also allow the world to trade easier...otherwise global trade stops as many people are simply holding US bonds and hence no $'s available to allow trade to happen. Chinese gov is pushing to do trade deals in Chinese currency and hence trying to diminish the $ as the global currency of trade....if this happens then people will dump the $ and hence anything priced in $'s will collapse.
The US government sells bonds to the market, commercial banks etc
The Fed with QE buy those bonds from the commercial banks but they don't give them money back, they give them the dollar equivalent in a collateral account held at the fed that can't be withdrawn from so they can't be spent, they're just added to the banks reserves
This lowers interest rates hopefully making loans more attractive and with the fractional reserve system that is where new dollars are actually created, not through QE
But banks are tightening loaning standards
This year governments were giving out stimulus and also deferring loans
There's still something in the US atm you can't evict renters for instance and that doesn't run out till January, something like 32 billion is owed in rent
Student loans also don't need to be repaid until December
At some point in the next few months there's going to be a real lack of dollars unless banks actually start loosening up