I showed that foreign Treasury holdings were up lately, not down. I suggest you concede the point, and go on to another
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I suggest you do the same. Without Japan and England ( only two countries ) increasing their buying to “ fill the gap”, the Fed will have to keep purchasing more and more of our debt, as they have been doing.
You see nothing alarming with the Fed now being the largest buyer of US debt?
Do you understand we are now paying $$$1 trillion in interest payments on our debt? Let that sink in.
The original argument was re BRICS, trends in that, and whether foreign holdings of US Treasuries show some progress towards BRICS. I showed that US Treasuries are holding up in foreign markets.
If you want to argue for BRICS otherwise go ahead.
US debt is another matter. Per classic macro the main result of that is to crowd out US private debt issuance making investment capital scarce and raising interest rates. And that is happening.
https://www.jpmorganchase.com/about/our-business/historical-prime-rate
https://www.global-rates.com/en/interest-rates/libor/