The USA and the ever-growing national debt.
Not long ago, one of the hottest news stories was the possibility of a US default, which would mean a record fall in the dollar.
But after the passage of the fiscal cliff law, the situation improved significantly and the government continued to sell government securities.
The US national debt has now reached almost $20 trillion, but bonds are still in demand.
The growth of government debt is due to a decrease in interest rates on this type of security; borrowing at a low interest rate is quite profitable.
True, constant borrowing still leads to an increase in annual payments; in 2016, $220 billion was spent on servicing the external debt.
Every year, the number of players betting on the collapse of the US financial system is growing, with the number of long-term short-term trades already reaching $100 billion.
