More News, Rumors and Opinions Monday Afternoon 7-10-2023
US Debt Now Higher than Finland, Hong Kong, and Greece’s Combined GDP
Sunday, 9 July 2023,
US Debt Explodes by $865,000,000,000 in One Month – Larger Than Finland, Hong Kong and Greece’s Combined GDP
Henry Kanapi July 8, 2023
The US national debt has surged by nearly a trillion dollars in just one month.
The latest numbers from FiscalData show that on June 2nd of this year, the total public debt outstanding of the country stood at $31.467 trillion.
A month later, on June 30th, that figure rose to $32.332 trillion, an eye-popping increase of $865 billion.
The sharp growth in US debt over a 28-day time frame is larger than the combined gross domestic product (GDP) of three large global economies.
Data from the World Bank shows that Hong Kong’s GDP hovered at $359.83 billion as of 2022. In the same year, Finland registered a GDP of $280.82 billion, while Greece’s economy produced $219.06 billion.
In total, the three economies produced $859.71 billion in wealth last year, a figure that’s lower than the debt accumulated by the United States in four weeks.
Last month, the Congressional Budget Office (CBO) released a report that projected US debt will dramatically outpace GDP growth, and it will be worth nearly three times the country’s GDP in three decades.
The CBO predicted that by 2053, US GDP will rise to $79.5 trillion with debt meteorically ascending to $143.895 trillion.
According to the federal agency, the hemorrhaging US debt will likely have detrimental effects on the US economy.
“Such high and rising debt would slow economic growth, push up interest payments to foreign holders of US debt, and pose significant risks to the fiscal and economic outlook; it could also cause lawmakers to feel more constrained in their policy choices.”
Source: The Daily Hodl
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Courtesy of Dinar Guru
Frank26 We are right on the edge of the cliff of the monetary reform, on our tiptoes leaning forward with our arms open, our head down waiting for a gust of wind to knock us over. That's how close we are.
Walkingstick There are no restrictions on the Iraqi dinar? Yes there are...It's still a program rate. That's a sanctioned rate. The Iraqi dinar is in position to trade internationally when they put it on Forex...I believe the Iraqi dinar is being put into position to go to Forex, to go into international platforms without restrictions...
CITIGROUP WARNS ON STOCKS... MARKET RISK CONTIUNES TO RISE... BONDS SELLING OFF.
Greg Mannarino: 7-10-2023
FIAT Currency Bubble to Burst? with Matthew Piepenburg
WTFinance: 7-10-2023
On todays episode of the WTFinance podcast I had the pleasure of speaking with Matthew Piepenburg, Commercial Director at Matterhorn Asset Management and Co-Founder of SignalsMatter.com.
During our conversation we spoke about whether the FED has control over the debt market, Risk of US Dollar losing its hegemony, what happens with a debt collapse and the winners and losers of such an event.
I hope you enjoy!
0:00 - Introduction
0:45 - Can the current situation get worse?
7:45 - Does the FED have control over the debt market?
11:55 - Risk of International US Dollars flooding the country?
16:55 - US becoming the common enemy
12:25 - US threat has lost its bite
22:45 - What collateral will replace US Treasuries?
29:20 - What happens with a debt collapse
33:45 - Which countries will be the winners?
37:50 - Investing on Commodities?
42:30 - Commodities detach from trends?
44:50 - One message to takeaway from our conversation?