DEBT DILEMMA! Interest Payments Are Expected To Reach $13 TN,121 Nations DE-DOLLARIZE｜AsianQuickTake

Welcome to Asian QuickTake, your source for comprehensive analysis of global affairs, international relations, and technology. In this video, we delve into the recent data released by the US Department of the Treasury, revealing a concerning trend in the federal budget deficit in the United States. According to the latest figures, the federal budget deficit for June soared to $228 billion, marking a staggering 156% increase compared to the same period last year and surpassing market expectations. Treasury revenue for the month decreased by $42 billion to $418 billion, while spending surged by $96 billion to $646 billion. These numbers contribute to a cumulative deficit of $ trillion for the current fiscal year, reflecting a 170% increase and ranking as the second largest deficit since the financial crisis. Moreover, the total amount of debt interest has reached a record high of $652 billion, indicating a year-on-year increase of over 25% and underscoring the United States’ path toward a fiscal crisis. As of the end of June, the weighted average interest rate on outstanding debt stands at %, the highest level since January 2012. Projections suggest the composite interest rate on debt may surpass 4% within a year. With the US debt amounting to $32.5 trillion, interest payments are expected to reach $13 trillion, becoming the largest single expense for the US government, surpassing expenditure on social security. The surge in interest on federal debt is a result of the rate hike policy implemented by the Federal Reserve in response to surging inflation. As calls to break the cycle of money printing and debt monetization grow louder, suggestions like restoring the gold standard have emerged to curb the excessive use of the dollar by the US Department of the Treasury and the Federal Reserve. Moreover, states within the US are taking steps towards currency independence and de-dollarization, with some states allowing gold and silver to be used as legal tender. This wave of alternative currencies is gaining momentum, and at least 121 countries have initiated measures to de-dollarize, challenging the US dollar’s reserve status. The global trend of de-dollarization is becoming inevitable as countries like China are shifting towards gold reserves and decreasing their holdings of US bonds. With increasing uncertainty surrounding the US economy and financial system, the future of the US dollar as the world’s reserve currency hangs in the balance. Stay tuned for more in-depth analyses on pressing global issues. Don’t forget to like, subscribe, and enable the bell notification feature to stay up to date with Asian QuickTake. See you in the next video. 💯TOP 3 Video Swiss Sells $36.4 billion U.S. Treasuries ▶ Africa Rejects US’ Blank Check ▶ China to Accelerate Dumping of Up to $800bn U.S. Debt ▶ ━━━━━━━━━━━━━━━━━━━━━ ✅ COPYRIGHT DISCLAIMER Asian Quicktake Doesn’t Fully Own Some of the Materials Compiled in Its Videos. It Belongs to People or Organizations Who Ought to Be Respected. If Used, It Falls Under the Following Provisions: Copyright Disclaimer Section 107 of the Copyright Act 1976. “Fair Use“ is Allowed for Purposes Such As Criticism, Comment, News Reporting, Teaching, Scholarships, and Research. ━━━━━━━━━━━━━━━━━━━━━ ✅ If You Are the Owner of the Materials Used in This Video, Let us Know in the Comments or Send a Email to me. We Will Follow Your Request Immediately. ━━━━━━━━━━━━━━━━━━━━━ ✅ FINANCIAL DISCLAIMER This Channel’s Content Should Not Be Interpreted or Construed As Financial Advice. We Are Not, and Do Not Claim to Be, an Attorney, Accountant, or Financial Advisor. This Channel’s Content is Not a Substitute for Financial Advice and is Solely for Entertainment Purposes.