Tag: Treasury bonds
The United States has the largest external debt in the world; the total number of U.S. Treasury securities held by foreign countries in January 2022 was $7.74 trillion, up from $6.63 trillion in June 2019. This infographic shows the 30 countries that hold 90% of the U.S. T-bills.
This month marks fifty years since President Richard Nixon closed the “gold window” that had allowed foreign governments to exchange US dollars for gold. Nixon’s action severed the last link between the dollar and gold, transforming the dollar into pure fiat currency.
Treasury Secretary Janet Yellen has proposed that governments around the world require payment of at least a uniform “global minimum corporate tax.
Michael Hudson and Pepe Escobar resume their conversation about a global monetary system that appears headed for divorce.
