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Why China is Selling U.S. Treasurys – (Script)
China sold more U.S. Treasurys last year, than any country has ever sold in a single year! $188 billion worth of U.S. Treasuries! Japan is also making an exit, selling nearly $30 billion since election day.
Belgium, Switzerland, and Saudi Arabia have all become big sellers too… Official national debt is $20 trillion, but the real debt has been calculated to be as high as $200 trillion, because the what’s not included in the official numbers, is Social Security, Medicare, and Medicaid obligations.
These government programs don’t pay for themselves, in fact, if you take all of the Federal income, and just pay for these programs and our interest, ever single penny after entitlements and interest on our debt, is borrowed.
Think about it, every penny spent on the military, welfare programs, foreign aid, and even your congressman’s paycheck, it’s all borrowed money! Every cent, from researching how long it takes to scramble an egg… To the refugee and illegal alien aid programs, the U.S. is borrowing money to pay for all of it.
When President Trump spoke of inheriting a mess.. This was an understatement.
And in 2015, President Obama and John Boener suspended the debt ceiling, an act that ends on March 15th.
As of March 15th, the debt ceiling is restored, and it is set to whatever the debt is on that day, meaning, it’s maxed out now!
It will take an act of congress and the president, to come together to raise the debt ceiling Again, before the summer of 2017, because by June, the U.S. treasury department will be out of money!
The largest debtor in history is Flat Broke!
Without borrowing, it won’t even be able to pay social security recipients or the interest on our debt, the same debt and creditors who have been selling Treasuries, like China, Japan, Switzerland, and Saudi Arabia.
Democrats will see this as the perfect political opportunity to do permanent damage to the Trump Presidency, and frankly, so will establishment Republicans who hate him. Along with many of the Tea Party representatives who were elected to stop the reckless spending in DC.
The debt ceiling debate will be a vote that no one wants to give, but has to happen, otherwise, the U.S., holder of the world’s reserve currency, will experience a real national default.
With rising interest rates, the Federal government will be forced to pay more for interest on our debt, and of course, with the entitlement programs sucking up nearly all of the 3.5 trillion tax revenues, the U.S. will literally need to borrow money to pay for previous borrowing. Technical term used by economists for this predicament the U.S. is in, is Cluster Fuck! [Bleep out F word]
By March 31st, the U.S. Treasury will begin to make extraordinary budget changes in to make sure payments are made to our creditors and essential employees.
If the debt ceiling debates drags out, which it very well could, we are looking at the most volatile time in our markets that any of us have ever experienced.
Don’t think Trump has a Republican congress, because he doesn’t, what he has is establishment cronies, who even though they have have an R by their name, can’t wait to see Trump go, so they can get back to business as usual.
We had 60 congress people not show up to the convention, others already calling for impeachment, top Republicans insinuating the President is a potential dictator…
President Trump is fighting globalism, and his congress is 90% paid for by the globalists… These are the same Republicans and Democrats who if Hillary would have won, would have happily supported TPP, they previously supported NAFTA, the invasion of Iraq, and the support of Amnesty prior to U.S. citizens killing that bill through millions of phone calls to DC.
The same people who gave the banks hundreds of billions of taxpayer dollars, who gleefully supported bad trade deals for the middle class… These are the people the President is going to be tackling head on, with the purpose of making sense of corrupt D.C.
The Debt ceiling is the perfect opportunity for the Presidents enemies to strike back big, throwing us into something worse than 2008 and dumping 3 decades of reckless government policy on Donald J. Trump and his supporters.
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