Treasury Secretary Janet Yellen was questioned about China suddenly dumping $859B US treasuries (due to the war).
The U.S. knew this was coming. That is why they have restricted the dollar supply by destroying crypto exchanges, raising interest rates, and holding trillions waiting to reverse the selling off of our treasuries by buying US debt.
The spending binge is part of the problem. At the same time, the US credit rating was dropped from AAA to AA+.
If China dumps their treasury’s, as they’re reportedly planning, that will collapse the market for U.S. debt, sending interest rates skyrocketing, which means tax revenues goes only toward debt servicing & the govt can no longer operate https://t.co/sxG69vpRNA
— Tom Elliott (@tomselliott) August 2, 2023
Yellen is puzzled by the downgrading of our ratings, but this observer said the only thing surprising is “it isn’t already rated junk.” Watch Yellen brag about how well everything is going in the next clip. After bringing inflation to an extraordinary high with wild spending and attacks on fossil fuels, she boasts that they’ve brought inflation down.
We are on track to have $50 trillion in debt in ten years thanks to their huge, wasteful bills.
The only thing that’s “puzzling,” @SecYellen, is why Treasury’s credit isn’t already rated junk. We’re $33 trillion in debt, w/ another $1 trill being added every 6 months, creditors are being paid back w/ debased dollars, & no one even pretends we’ll ever pay our off the debt https://t.co/WorP10LZvN
— Tom Elliott (@tomselliott) August 2, 2023
Subscribe to the Daily Newsletter
