[vc_row][vc_column][vc_paragraph text=”Due to the COVID-19 pandemic’s consequences for the economy the US Treasury has recently announced it is going to borrow $3 billion.“][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Public debt keeps getting bigger ” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The US Federal Reserve is not only printing dollars with the unprecedented speed but even the Government itself is increasing its national debt.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”According to the recent statement made by the Department of treasury, the country is planning to borrow $3 billion for April-May expenditures.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”It’s two times more than the Government used to borrow last year, and five times more than was borrowed at the peak of 2008 crisis.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Besides, the Department of Treasury can borrow $677 billion more in the period May to September.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The US current public debt levels reach the all-time highs – $25 trillion. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”That’s 116% as a percentage to GDP.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Amidst the COVID-19 pandemic public dept has become the primary issue.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Many analysts are bothered by that the loans taken for overcoming the pandemic consequences may lead to chaos in the long-term perspective.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The USA are not the only country that has to borrow money. Thus, the Japanese bank has committed to purchase an “unlimited” amount of public debt.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”On the other hand, EU has recently launched a fund amounting to trillion euro for assistance in combating the pandemic.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Still it is unclear whether these measures may keep the coming economic consequences. We will see what happens as time goes but the current situation is definitely a catalyst for spread of the fiat currencies’ alternatives. And this is where cryptos come into play.”][/vc_column][/vc_row]
