The debts of the Americans must always be repaid. #美债

It is said that as June approaches, the 65 trillion old debts hang like a noose on the beam, making it hard for people to breathe. Upon closer calculation, this number is not exaggerated — the total amount of U.S. national debt has exceeded 34 trillion, and the daily interest burns away 2 billion, equivalent to the livelihood of a city. In earlier years, they were accustomed to the trick of 'borrowing new to pay old', patching the east wall with the west wall, thus fooling the world. But now, this new debt actually requires five percent interest! Five cents — the ten-year treasury bond interest rate has surged from last year's 1.25% to today's 4.5%. Are the people of the world truly blind? Clearly, a deep pit has been dug, yet they insist on covering it with gold leaf, enticing people to jump in. This kind of calculation resembles that of a street gambler, betting that tomorrow they can borrow another jug of wine.

But the debt of wine is still debt. With no one buying the new debt, how can the old debt be repaid? Just the treasury bonds maturing in June account for thirty percent of the annual maturity amount. The bankers’ abacus beads click loudly, yet the deficit on the ledger grows like wild grass — last year's deficit was 1.7 trillion, and this year adds new wounds, with the debt-to-GDP ratio already surpassing 120%, which is thirty percent more than that before the fall of the Roman Empire. This world has always been like this: countless sweet words when borrowing, and all kinds of excuses when repaying. If in the past it was a 'paper tiger,' today it has become a 'paper money tiger' — unable to even print paper money.

When the dollar collapses, the building will tilt. Overseas creditors are smirking with their ledgers in hand: Japan holds 1.1 trillion, China 780 billion, and even a small country like Belgium has staked 300 billion. The former vassals are likely to scatter like birds and beasts. Allies are now holding their ledgers, coldly watching this drama — the European Central Bank sold off 10 billion in U.S. bonds last month, and Saudi oil money has turned to gold, clearly no longer trusting even 'paper money.' What 'tariff wars,' what 'trade knives,' are merely the dying whispers of a moribund entity.

Yet this world ultimately cannot tolerate those who deceive and steal reputations. The day the debts pile high is the day credit collapses. When the waters run dry, let us see how the hegemony turns to dust, scattered in the wind — no matter how fast the Federal Reserve's printing press works, it cannot outpace the calculations of the people of the world.

Alas! The world says capital is like a tiger, yet it does not know that this tiger can also starve to death. 34 trillion of flesh can never satisfy a bottomless pit.