No. of Recommendations: 1
despite doge's failures to save money by 100-1000X, the gop myth of fiscal conservatism will survive an upcoming record spending gap. more meaningful shenanigans are afoot, and of course there is strong link to trump grift.
"To postpone the day of reckoning so that this becomes the next administration’s problem (and who knows, maybe a productivity miracle or, more likely, a bigger problem will crop up in the meantime!) Scott Bessent and the US Treasury are engaged in a concerted policy effort to create more forced and/or artificial buying of US Treasuries.
[“Stablecoins could create $2 trillion of demand for US Treasuries.” — Scott Bessent, May 23,2025]
Most of these policy initiatives, like a central bank digital currency (CBDC) stablecoin issued by the big banks or the elimination of supplemental leverage ratios on big bank ownership of long-dated Treasuries, are attempts to monetize the debt through the balance sheets of JP Morgan, Bank of America, Citi and Wells Fargo. We are literally going to do the Weimar thing, but – haha! – no one will be wise to our clever ruse because it will be through our giant, centralized banks rather than the giant central bank."
episilontheory
