USA Watchdog, Released on 5/15/21
“The Fed cannot allow the bond market to sell off because that would translate to higher interest rates. We are already at $30 trillion in a federal budget deficit . . . and they are averaging 1.5%. So, they are paying $450 billion in interest alone. If that goes to 3%, they are paying $900 billion. If that goes to 4.5%, they are paying $1.3 trillion. The whole budget deficit has already exploded, and there is no turning back.
Known primarily by his nickname “Turd Ferguson,” Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast, covering precious metals, the financial markets, and greater economic trends.