The Federal Reserve purchased large amounts of government bonds and mortgage bonds to support the economy and financial markets during the COVID crisis, which has led to concerns that it is technically bankrupt. Behind closed doors, the report is already making the rounds in expert circles: if you follow the
According to data from the US Treasury, California owes the most debt at $18.6 billion and has defaulted on it. California’s recent decision not to pay back some $20 billion borrowed from the federal government to cover unemployment benefits during the pandemic will fall on the shoulders of employers, according to
Holders of dollars will see their purchasing power plummet, which is not a good thing for ordinary Americans if the US loses reserve currency status, and the fault will lie with the decades of monetary and fiscal mismanagement made possible by the dollar’s status as a global reserve currency. Earlier
With the national debt of the world’s reserve currency soon expected to exceed $32 trillion, some are predicting a potential $20 trillion dollar global financial collapse.
According to the Department of the Treasury, the current US national debt is $31.4 trillion, which is visualized below.
Pakistan is set to become the world’s next ‘zombie’ country after crisis-wracked Lebanon, as a large part of the population and businesses have tired of the shenanigans of a corrupt, self-serving elite and are seeking a permanent exit from the country.
One of the first Asian leaders to recognize the global and regional impact of China’s rise, the late Japanese Prime Minister Shinzo Abe laid the foundation for a new Asian order that is now emerging.
The minutes from the March meeting of the Federal Open Market Committee show that the Fed expects a banking crisis to cause a recession this year.
The chairman of Switzerland’s largest bank received an urgent call last week. On the other end were three top Swiss officials who delivered an ultimatum dressed up as a proposal. UBS Group AG needed to rescue its failing rival, Credit Suisse Group AG.
