Well, IIRC, our actual total fiscal exposure is over $600T, $24T of that by the end of this year.
48% of 7-Yr Fed Notes were bought back after a few days recently. That’s a whirlpool if ever there was one.
Ticker guy & Peter Schiff are all over this.
He who controls the debt controls everything.
Actually, you are wrong. There comes a point when the debtor has more leverage. It happens sometimes when banks loan money to a business and then end up making other loans to try to keep the business afloat. At some point the bank has more to lose than the original business. The bank would love to throw in the towel, but the better option becomes to ride it out.
If everything collapses, including the legal system that enforces payment of debt, he who controls the debt controls nothing.
In such a situation, power reverts to its original and inherent form: Power grows out of the barrel of a gun.
>>>He who controls the debt controls everything.
So where is it going to go from here?