US Treasury Seeks To Borrow $3T. But From Who?

Plus bitcoin on 'Billions'

Happy Monday, Blockfolians

The Lede

The Treasury has announced that it will borrow approximately $3 trillion this quarter to pay for Coronavirus-related relief efforts.

It’s an interesting choice of word - “borrow” - it suggests that there is actually a way to pay it back. Increasingly, many aren’t sure that’s possible.

Although he remained supportive of the Administration’s response, Warren Buffett pointed out in his remarks on Saturday night that we were in uncharted territory when it comes to this level of borrowing.

One thing that’s for sure. We’re in uncharted territory.

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Why the level of U.S debt is meaningless - Economics Student ...

Highly Relevant Reading


Community Commentary

The latest season of billions kicked off with a discussion of bitcoin!
One of the interesting revelations of Buffett’s talk was that a number of companies that had come to him for money were able to get better terms from the government.

A Really Big Number We Should Be Paying Attention To

$21,600,000

That’s the amount sold in NEAR Protocol’s token sale, led by A16Z


Final Thought

Money printer go brr through the ages