Lol. But it's not dishonest if both parties agrees! Now I empathise BOTH parties. But of course, it's an underhanded way of getting rid of your debts by...... printing paper $ to pay for it! It reduces the debt ratio, and therefore enables The US to borrow more by issuing more T-bills!Intriguing; can i get a source i can read further into this? Seems like a very dishonest tactic that would have most sovereign natures in an uproar.
The other party shouldn't agree to this as there are no benefit to them. But I guess there will be some inducement for them to agree.
This is akin to companies wishing to reduce their debt ratio by offering share instead. As shares are "never" redeemed. Where as corporate bonds have to be repay when due!
The sooner the $ is not the world's reserve currency the better.