Treasury Announces Record Debt Sale
Treasury Secretary Steven Mnuchin is about to surpass Timothy Geithner's achievement of selling a record amount of notes and bonds as he seeks to finance America’s soaring budget deficit.
According to the latest quarterly refunding statement, the US Treasury is about to sell a record amount of debt, surpassing levels seen both in the aftermath of the Great Depression and the Global Financial Crisis.
On Wednesday, the US Treasury Borrowing Advisory Committee unveiled that it will increase the amount of debt to be sold at the upcoming quarterly refunding auctions to $83 billion from $78 billion three months earlier. This will be the fourth straight quarter of increasing refunding auction sizes and is driven by the soaring US deficit shortfall, which in 2018 hit $779 billion the highest since 2012, as well as the Fed's ongoing balance sheet shrinkage.
We at ABN are sure you can see where this is heading by now. The United States and the rest of the world are headed towards the largest and greatest crash in history and there will be no recovery from this crash. Only one currency will survive what is coming... GODcoin.
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Dahboo7 did a pretty good video on this.
Ouch...the global economy will surely suffer. The debt keeps rising and people are encouraged to borrow more as they are unable to pay back the higher interests that shortly follow, along with many other factors...it's really such a mess.
The signs aren't good for many currencies, and there is a lot of talk of a crash coming... the Euro, the Pound (Brexit), and the US Dollar could get hit from multiple angles with the ongoing trade wars.
They will only repeat history and cause the fall of America
This debt will only increase cause Americans can't keep their eyes off the newest iPhone or latest android.