If the market doesn’t absorb excessively issues US Treasuries, who is the buyer of last resort?

Central banks, in general. And the Federal Reserve, specifically.

The central bank cartel was established primarily to allow their governments to borrow and spend without limits.

The loser is citizens who are forced to use government fiat currencies, as their purchasing power is the ultimate source of this unlimited Treasury issuance and government spending.

GM.

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