No. of Recommendations: 1
Jim, I'm curious if you have an opinion as to what might happen to the financial system if it's even broached at an official level that foreign debt holders would be forced to swap for perpetual bonds?
And closer to home: in such a situation would holding T-bills be relatively safer for those of us now invested in defensive positions than holding ETFs or mutual funds that invest in short-term U.S. backed government securities?
An interesting tidbit: perplexity.ai says about 23% of total U.S. debt is held by foreign entities (half of those entities are governments)
perplexity.ai - How much u s soverign debt in 