X @Nick Szabo
Nick Szabo·2026-04-04 08:41
RT Nic (@nicrypto)The largest foreign holder of US Treasuries isn't China.It isn't Japan. It isn't the UK.It's the Cayman Islands. Hedge funds running basis trades.They absorbed 37% of all new Treasury issuance between 2022-2024.The US needs to roll over $10 trillion in debt next year.And the buyers are leveraged hedge funds in offshore tax havens. ...