The Fed did. Nearly everyone did. Even China nibbled again. Here’s who holds that monstrous $28.1 trillion US National Debt.
The US national debt has been decades in the making, was then further fired up when the tax cuts took effect in 2018 during the Good Times. But starting in March 2020, it became the Incredibly Spiking US National Debt. Since that moment 15 months ago, it spiked by $4.7 trillion, to $28.14 trillion, amounting to 128% of GDP in current dollars:
Opinion: A 1946 song, written by Merle Travis about a coal miner and made a hit by Tennessee Ernie Ford, comes to mind …
“You load sixteen tons, what do you get?
Another day older and deeper in debt
Saint Peter don’t you call me ’cause I can’t go
I owe my soul to the company store”
The US owes its soul to debt.
Zero Hedge Headline May 7, 2021
America’s “Unfunded Liabilities” Are $163 Trillion, More Than 5x National Debt
DoubleLine’s Jeffrey Gundlach called the Fed’s bluff late last month, telling investors during an interview that he suspected the central bank was merely “guessing” about the impact of inflation being “transitory”.
Since then, we have only received more signs that inflationary pressures are growing in the US economy, while a growing number of investors have been persuaded to agree with Gundlach.
From 2009 to March 2020 money printing (QE) has been causing the value of the US dollar to become worth less in value. It is the reason counterfeiting is illegal. It causes stealth inflation.
Beginning with the March 2020 lockdown, an event that has never happened in US history, cratered the financial markets. The Federal Reserve stepped in with $6.8 trillion to backstop the equity, bond and real estate markets. The move was/is unprecedented.
Here is who now holds the debt:
Business Insider headline March 24, 2021:
The reason is simple and it fits with Bible prophecy:
When new money is added to the financial markets, the people with the most investments will make much more money.
“…Do Not Harm the Oil and Wine”
Revelation 6:5-6 describes such a time. Unprecedented financial crisis when a man will be forced to work a full day to be able to feed himself for 1 day. Hyperinflation will grip not just the US but the world. Only the 1%, super rich, will still be able to afford the luxury of oil and wine, for a brief time.
See our study “The 1% and Revelation: Do Not Harm the Oil and Wine” HERE