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There’s More to China’s U.S. Debt-Dumping Rush Than Meets the Eye
There’s More to China’s U.S. Debt-Dumping Rush Than Meets the Eye Unprintable Alternative to Debt, De-Dollarization, Not Just China, Leaving the West for the East “Gold is money. Everything else is credit.” ~ J. P. Morgan Earlier this week, I told you how China has accelerated its de-dollarization efforts with rapid-fire sales of U.S. debt. The country […]
Is China Dumping US Treasuries and Buying Gold? Bloomberg Says Yes, Pettis Uncertain
Is China Dumping US Treasuries and Buying Gold? Bloomberg Says Yes, Pettis Uncertain Bloomberg reported that China is selling a record amount of US debt while buying gold. Previous reports of debt selling were false. Let’s check in with Michael Pettis at China Financial Markets for another opinion. China Sells Record Sum of US Debt […]
US Dollar’s Status as Dominant “Global Reserve Currency” Drops to 25-Year Low
US Dollar’s Status as Dominant “Global Reserve Currency” Drops to 25-Year Low Central banks getting nervous about the Fed’s drunken Money Printing and the US Government’s gigantic debt? But still leery of the Chinese renminbi. The global share of US-dollar-denominated exchange reserves dropped to 59.0% in the fourth quarter, according to the IMF’s COFER data […]
U.S. Debt Has No Meaning Anymore (Until It Eventually Does)
U.S. Debt Has No Meaning Anymore (Until It Eventually Does) Photo by Wikimedia.org | CC BY | Photoshopped The national debt currently looks like a runaway freight train. Not only is it clocking in at $26.1 trillion at the moment, but it has made the jump of the last few trillion dollars fast. Really fast. Wolf Richter summarizes the frenzied ascent in […]
Gold Futures Extend Gains To 8 Year Highs After Pelosi’s Trillion-Dollar Promise
Gold Futures Extend Gains To 8 Year Highs After Pelosi’s Trillion-Dollar Promise COVID-19 appears to have impacted the deep fiscally-conservative regions of the brains of politicians more than many suspected possible as left, right, and center seem to be coalescing around the fact that moar spending is better, moar helicopter money is even better-er, and […]
Changes in Government Deposits and Money Supply
CHANGES IN GOVERNMENT DEPOSITS AND MONEY SUPPLY The US debt ceiling suspension, signed in February 2018, expires at the beginning of March this year. Some commentators are of the view that the US Treasury must carry out special measures if it expects a delay in raising the debt ceiling in March. The Treasury would have […]
US Debt: Bomb or Overblown?
US Debt: Bomb or Overblown? SUMMARY The latest report from the Congressional Budget Office (CBO) is enough to curdle the blood of any fiscal conservative. According to the report, US federal debt held by the public relative to GDP currently stands at 78 percent (debt issued in Treasury securities). If current trends hold, that number […]
In Just 2 Years, US Debt Grew The Size Of The Entire Brazilian Economy
In Just 2 Years, US Debt Grew The Size Of The Entire Brazilian Economy In a mere two years, the United States debt has massively grown. In fact, the amount of debt the US incurred equaled the size of the entire Brazilian economy. U.S. government debt is on track this year to rise at the […]
US Treasury Issues More Bonds, But No One Wants Them
US Treasury Issues More Bonds, But No One Wants Them In an attempt to feed the soaring debt and spending habits of the United States government, the US Treasury is issuing more bonds. But they’ve run into a big problem: no one wants to buy those worthless bonds anymore. Debt is going to be a big problem […]
US Gross National Debt Jumps by $1.27 Trillion in Fiscal 2018, Hits $21.5 Trillion
US Gross National Debt Jumps by $1.27 Trillion in Fiscal 2018, Hits $21.5 Trillion But wait — these are the Boom Times! The US gross national debt jumped by $84 billion on September 28, the last business day of fiscal year 2018, the Treasury Department reported Monday afternoon. During the entire fiscal year 2018, the […]
Who Bought the $1.47 Trillion of New US National Debt over the Past 12 Months?
Who Bought the $1.47 Trillion of New US National Debt over the Past 12 Months? China, Japan, other foreign investors, the Fed, US government funds? Nope. Foreign private-sector investors and “foreign official” investors – central banks, governments, etc. – whittled down their holdings of US Treasury Securities by $21 billion at the end of July, […]
The U.S. Government To Fork Out A Half Trillion To Service Its Debt In 2018
The U.S. Government To Fork Out A Half Trillion To Service Its Debt In 2018 The U.S. Government is going to surpass another significant milestone this year. According to the recently released data from the TreasuryDirect.gov, the government will fork out a stunning half trillion dollars just to service its debt in 2018. Unfortunately, as […]
US Debt Sales To Surge: Treasury Raises 2018 Borrowing Need To $1.33 Trillion
US Debt Sales To Surge: Treasury Raises 2018 Borrowing Need To $1.33 Trillion America’s funding needs are starting to grow at a dangerous pace. Even before the NYT reported of Trump’s startling suggestion of a further $100 billion tax cut in the form of an inflation-adjusted capital gains tax cost basis which mostly benefits the […]
Total U.S. Debt and Gold
Total U.S. Debt and Gold After rising together through 2012, the past five years have seen a massive divergence between the total amount of accumulated U.S. government debt and the price of COMEX gold. When, if ever, will we see this correlation reappear? After falling together through the late 1990s, the price of COMEX god […]
