Why we carry you.

You are the only prominent personality in town. You can walk into any store, buy as much as you want and issue your personal cheque. They will accept it with a smile. In fact, they are grateful to have your cheques.

There's a catch. Because of your reckless shopping, your bank balance is running very low. Almost zero.

But you are completely at ease because you know that those cheques will never be cashed – instead, those cheques will be preserved. Idiots!

Shopkeepers and traders are also relaxed because they think you are the richest person in town and your cheques are safer than the national currency.

Imagine that this goes on for a while. For years. Meanwhile you are growing, very fast.  With your consumption, the traders are also growing. Every person, shop and even bank is counting their worth in your cheques. No one has thought (dared) about  cashing the cheque. Well, till now.

A reckless trader in town hates you. He announces that he will not accept your cheques anymore. He needs the actual currency. Worse still, he requests some other traders to do the same. They are on the verge of announcing it. 

What would you do?

Your whole existence is at stake. You would do whatever you can to preserve your prominence and the luxury that it brings. You do not want to lose all this just because of one trader.

You and your think-tank plant a few skeletons in his cupboard and opens it in public. You publicise this in your own newspaper, your own TV Channel and you have taken everyone (almost!) to confidence. Now it is accepted that he is an evil man and he should be destroyed. All the other big traders announce support for you and sends you their hit men.

And why do you think everyone supported you? Are they idiots?

Of course not. They did it for it their existence. Why?

You have grown too big and you are their biggest customer. Without you, they have to shut down their shops, factories and banks. They face disaster.

These guys are neck deep in your scam. Almost half of their assets are measured in your cheques. They know that your cheques are worthless but as long as they keep their mouths shut, things will go on as usual.

Now you know the real meaning of "having them by the balls".

They need to preserve you. They have to carry you on their shoulders.You are a national treasure. Whatever you do, they have to follow suit. There is no way out.

Now substitute U.S for yourself. Saddam for the trader. Dollar for your cheques - well, not the dollar - U.S treasury bonds.