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Miss Nagasaki 1945
they are liquidating their supply of US Treasuries
doubt she was "Miss Nagasaki", it's not like we have a Miss Chicago or Miss NYC
Not all bonds pay interest regularly.At a U.S. Treasury bond auction, the difference between the face value at the maturity date and what you pay for it determines the "interest" you earn buying it if you hold it until maturity.For example, what would you pay for a US bond which will pay you $10,000 in the year 2032? You are not going to pay $10,000 for it today, neither will anyone else. The Federal Reserve helped enable the U.S. Congress to wastefully spend trillions of dollars by buying a lot of the bonds. The media call this having the bonds on the Federal Reserve's "balance sheet". I'm depressed and disgusted by the wasteful, foolish, stupid, irresponsible behavior by our government and by the people I know who hate saving and are broke. The Democrats playbook is typical; spend a ridiculously huge amount of borrowed money and then later raise taxes on the responsible people (just 43% of Americans pay income tax).
They are doing it because the yen is in deep shit:https://doomberg.substack.com/p/battle-for-the-yenJapan can't raise rates because their national debt is ~200% of GDP but if they don't the yen falls v the dollar. So they are selling the T-shit to buy yen.
Moral: Have a million bucks or more in your Roth IRA, fingers crossed they don't outlaw them.
For example, what would you pay for a US bond which will pay you $10,000 in the year 2032?
800,000 dead in Iraq