The Treasury Department is taking “extraordinary steps” to prevent a default that could do “irreparable harm” to the economy. #DebtCeiling

There has been a surge in public debt in the US and other countries around the world. Are we going to face a looming currency crisis? In this episode, we talk to Jim Rogers and Peter Westaway to unpack these themes.

#jimrogers #usdebt #economy #debtcrisis

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A war of words has been started between two largest economies of the world – US and China. They are engaged in a tussle over debt issue, it started after US Treasury Secretary Janet Yellen called China a ‘barrier’ to debt reforms in Africa.

#china #us #janetyellen

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in 2013 China announced the BELT & ROAD INITIATIVE which was designed to provide new Land & Sea Connections from China to the Rest of the World. This Initiative was designed to help EMERGING & DEVELOPING COUNTRIES to improve ROAD, RAIL, AIR & SEA Infrastructure and to Build POWER PLANTS. China has advanced $1.3 TRILLION in Loans to HIGH RISK Countries and the majority of those loan are now in DEFAULT. In this video I provide details of the investments made by China, the outstanding loans by SECTOR & COUNTRY and the amount of debt now in DEFAULT.

For specific details please check out the CHAPTER list below.

Thanks for watching and please LIKE and SUBSCRIBE.

Chapters:
0:00 Intro
3:01 BELT & ROAD INITIATIVE
3:46 SECTOR EXPOSURE
6:21 COUNTRY EXPOSURE
10:27 CREDIT RISK
13:22 DISTRESSED LOANS
15:56 DEBT RESTRUCTURING
17:31 CASHFLOW
19:51 RUSSIA
22:31 SUMMARY & CONCLUSION

#china
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Zhenro
#Bonds

Senate Republicans blocked a bill to keep the U.S. government open and also prevent a federal debt default, but the Senate could bring the funding measure up for another vote later this week without a debt-ceiling extension, which isn’t needed until mid-October. Congressional Democrats are also hoping to pass at least part of President Biden’s domestic agenda, which contains more than $4 trillion in spending over two bills. CBS News’ Laura Podesta reports on the developments in Washington, and CBS News congressional reporter Zak Hudak joined “CBSN AM” to discuss.

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An exhaustive investor handbook presenting the first rigorous framework to value gold and understand gold attributes in an asset allocation. It also offers a unique perspective by taking a non-US centric view on gold investing. Contrary to popular beliefs, the US government is prone to default. Indeed, it has already defaulted in the past century (1934, 1971), incurring large losses on the back of non-residents. It is very likely it will continue to do so, and for non-US residents, holding gold is a low-cost insurance to holding US Treasuries.

Why do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. Lending to the Borrower from Hell looks at one famous case–the debts and defaults of Philip II of Spain. Ruling over one of the largest and most powerful empires in history, King Philip defaulted four times. Yet he never lost access to capital markets and could borrow again within a year or two of each default. Exploring the shrewd reasoning of the lenders who continued to offer money, Mauricio Drelichman and Hans-Joachim Voth analyze the lessons from this important historical example.

Using detailed new evidence collected from sixteenth-century archives, Drelichman and Voth examine the incentives and returns of lenders. They provide powerful evidence that in the right situations, lenders not only survive despite defaults–they thrive. Drelichman and Voth also demonstrate that debt markets cope well, despite massive fluctuations in expenditure and revenue, when lending functions like insurance. The authors unearth unique sixteenth-century loan contracts that offered highly effective risk sharing between the king and his lenders, with payment obligations reduced in bad times.

A fascinating story of finance and empire, Lending to the Borrower from Hell offers an intelligent model for keeping economies safe in times of sovereign debt crises and defaults.