Naive question: If the US Treasury is 'borrowing' $3 trillion this quarter, who _exactly_ is it 'borrowing' this money from, and what collateral are they offering?https://www.cnbc.com/2020/05/04/us-treasury-seeks-to-borrow-a-record-3-trillion-this-quarter.html …
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They’re borrowing it from bond holders, the bonds secured by the full faith and credit of the US government
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There’s no collateral in the same sense that money is only green paper.
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In other words: no, there is no collateral
End of conversation
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