Report: Pandemic Response Pushed Global Debt to $272 Trillion in Q3, $5T in B...
The Institute of International Finance (IIF) says global debt will soar to a record $277 trillion by the end of 2020 as governments and companies continue to spend in response to the COVID-19 pandemic. Already, the debt has ballooned by $15 trillion this year to $272 trillion through September. Governments from developed markets account for more than half of that increase, according to the IIF’s Global Debt Monitor. Governments from Developed Markets Are the Biggest Borrowers According to a report, debt repayments will prove to be “much more onerous” despite the....
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William Cline, a senior fellow at the Peterson Institute for International Economics, dismissed using bitcoin to address the U.S. debt in response to a caller question on C-Span’s Washington Journal on Monday. Cline talked about information released by the Treasury Department about which foreign countries own the largest amounts of $6 trillion of U.S. Treasury debt. The report showed that the U.S. owed Saudi Arabia $117 billion. Caller Cites Bitcoin’s Benefits. The caller asked if the U.S. has considered using bitcoin to hold some of the national debt, or investing in bitcoin, “because it....
Bonds worth $17.05 trillion now yields a return below zero, according to Bloomberg Barclays Global Negative Yielding Debt index.
The US national debt is several times greater than the value of all physical cash, and thousands of times the value of Bitcoin. Standing at around $19.5 trillion, the debt accrued by the US federal government amounts to significantly more than the combined value of all the world’s physical cash, gold, silver, and cryptocurrency. Those four combined barely cover two-thirds of the US national debt, leaving the daunting task of debt reduction. Bitcoin is still a small player in the global financial world. Besides the staggering level of US debt, what this fact reveals is how new and minor a....
Earth is reaching a historic “inflection point,” Keiser warns after Singapore’s central bank admits that more debt is not an option for anyone. The world now has so much debt that, for the first time ever, it is impossible to add more, says Max Keiser.On the latest edition of his Keiser Report TV show on Sep. 22, the RT host warned that central banks were responsible for global debt reaching a new “inflection point.”Keiser on debt: “We’re at saturation point”Together with co-host Stacy Herbert, Keiser referred to comments from Singapore’s central bank, the Monetary Authority of Singapore....
Harry Dent predicted 2020's economic upheaval several years in advance. The coronavirus pandemic was just a trigger to a long-term reckoning over public debt.