Today, without much fanfare, US debt to GDP hit 101% with the latest issuance of $32 billion in 2 Year Bonds. ... with just under $1 trillion in new debt issuance on deck in the next 9 months, we will be at 110% in no time. Still, this trend made us curious to see who has been buying (and selling) US debt over the past year. The results are somewhat surprising.
... in the period December 31, 2010 to December 31, 2011, there have been two very distinct shifts: those like the UK who are going all in on the ponzi, and those like China and Russia who are gradually shifting away from the greenback, and reinvesting their trade surplus in something distinctly other than US paper.
This is a Suspicious News Brief. Read more at ZeroHedge