First, oh shit!
Second, not really a surprise.
Like the initial monetization of our debt by the FED almost three years ago, this will mark a waypoint on the path to our eventual collapse. And yes Mrs. Matson, it can happen here.
As such, all those Americans pushing China to revalue, may want to consider that such an action could well guarantee hyperinflation, once the Fed is stuck as being the only buyer of US debt.
Not sure that I am 100% on the bandwagon with the hyper-inflation crowd, but it is an interesting idea to say the least.
Dear readers, these kinds of things lead to war on a macro scale.