Is there a way to save US debt? US Treasury Secretary reveals that a heavyweight buyer has become the new financier, and the story behind it is not simple

According to the Global Times, US President Trump has been in office for 100 days in his second term. From US stocks to the US dollar to US debt, the US financial market has experienced multiple "roller coaster"-style fluctuations. The yield on 30-year US Treasury bonds once recorded the largest weekly increase in decades, and its "safe haven" status was questioned. "The debt clock is terrifying." Musk, head of the US "Government Efficiency Department", once said bluntly. What he said was the statistics displayed on the US "Debt Clock" website. At present, the total US national debt has exceeded 36.8 trillion US dollars. The Chongyang Institute for Financial Studies of Renmin University of China recently released a report warning that the "Ponzi scheme" of US debt is on the eve of bankruptcy.

US Treasury Secretary Bensont told CNBC earlier that the United States will begin to build a cryptocurrency reserve by stopping the sale of its Bitcoin holdings. Bensont said that all confiscated assets will enter the reserve, and the first thing to do is for the government to stop selling Bitcoin "and then we will see how to make more purchases in the future."

U.S. Treasury bonds refer to national bonds issued by the U.S. Treasury on behalf of the federal government. From 2015 to 2024, the U.S. federal government debt climbed from $24.07 trillion to $35.46 trillion, an increase of 47%. The U.S. Treasury's official website disclosed that in the past few decades, events that caused the federal debt to soar include: the war in Afghanistan, the war in Iraq, the 2008 economic crisis, and the COVID-19 pandemic. For example, in the fiscal year 2019-2021, the U.S. federal government's spending increased by about 50% due to factors such as the COVID-19 pandemic.

Government spending continues to rise, but fiscal revenue cannot cover it, so it is necessary to expand the scale of debt, which has brought a heavy debt burden to the United States.

Since U.S. President Trump announced the imposition of tariffs, the stock market has rebounded. But there are still some problems in the bond market. Since April 2, long-term U.S. Treasury prices have fallen, and the benchmark 10-year U.S. Treasury yield has risen to around 4.37%. U.S. Treasury yields are deeply affected by investors' expectations of the average level of short-term interest rates set by the Federal Reserve during the bond's life. But long-term yields, which play an important role in determining the cost of borrowing for the overall economy, are now less correlated with the Fed's interest rate outlook, making it harder for the Fed to stimulate growth by cutting rates.

In the global financial market, U.S. Treasuries have always occupied a pivotal position. For a long time, U.S. Treasuries have attracted global investors. However, in recent years, U.S. Treasuries have been mired in a quagmire.

Recently, the U.S. Treasury Secretary suddenly dropped a bombshell, claiming that the cryptocurrency market will become the "white knight" of U.S. Treasuries, bringing up to $2 trillion in demand. This statement instantly caused a lot of discussion in the financial community. In recent years, the U.S. government has been ambiguous about the cryptocurrency market and tried to incorporate cryptocurrencies into its strategic system. Trump launched the "Cryptocurrency Strategic Reserve", which triggered a strong reaction from the market, and the price of Bitcoin rose to $100,000.

However, it should be pointed out that the previous two rounds of negotiations between Japan and the United States all broke down. In 2025, the total amount of U.S. Treasury bonds due will reach $9 trillion, and the amount due before the end of June will be $6.5 trillion, not including interest. For US President Trump, the only goal now is to find a way to "make money", and he is ruthless even when facing Japan, an extremely close ally.

However, Japan has recently become tough and no longer obeys the United States. Instead, it is ready to start fighting back against Trump, and the trump card in its hand is US Treasury bonds. As the world's largest overseas holder of US debt, Japan held about 1.27 trillion US dollars of US debt as of the end of March this year.

Why did Japan's attitude change? On the one hand, it is because Trump has put too much pressure on Japan. According to the Americans, there are currently dozens of countries willing to negotiate one-on-one with the United States on tariffs. And Japan is the first negotiating partner of the United States. The reason why the United States made such an arrangement is nothing more than thinking of taking advantage of Japan's weakness towards the United States to make the United States get a "good start" in the negotiations, and also better let other countries fall into a "prisoner's dilemma" and compete to compromise with the United States. For this reason, Trump himself even broke the rules and personally negotiated with Japanese representatives. This gap in status is one of the means of extreme pressure from the United States.

What is even more surprising is that "the US tourism industry is going to have a very bad year." Bloomberg reported on the 13th that according to the latest data from the joint analysis of the World Travel & Tourism Council (WTTC) and the Oxford Economics Institute, the United States is expected to lose up to $12.5 billion in tourism revenue in 2025, and tourist spending is expected to be less than $169 billion by the end of this year. This data means that US tourist spending has fallen by about 7% year-on-year, and has fallen by 22% from the peak of the US tourism industry in 2019. The United States has thus become the only economy among the world's 184 economies that is expected to lose tourism revenue this year;

The New York Times also said that the United States is the only country that expects a decline in the number of international tourists in 2025.