Warren Buffett says U.S. debt will be acceptable for a long time due to dollar's reserve currency status

The March 25th, 2024 Wall Street Journal reported that the Treasury market is about 6 fold larger than before the 2000 and eight 2009 crisis. Do you think that at some point in time the world market will no longer be able to absorb all of the US debt being offered? Well, I would say the answer is of course I don’t know, but the but the my best speculation is that U.S. debt will be acceptable but for a very long time because there’s not much alternative. But it won’t be the quantity you know any, any you know. The national debt was nothing to speak of like you know for a long, long time and then it won’t be the quantity, it’ll it’ll be weather in any way. Inflation would get let loose in a way that that really threatened the whole World Economic situation. And there really isn’t any alternative to the dollar as a reserve currency. And you get a lot of people. We’ll give you a lot of speeches on that but that that really is the answer. That and and Paul Volcker worried about that back in 19, you know before 1980. But but he had threats on his life and I happened to have a little contact with him at that time and he was an amazing amazing fellow that that in effect decided that he had to act or no really the the financial system would fall apart in some way that he couldn’t predict and and and he did it and he you know that people threatening his life and do all kinds of things and but he was the man for that crisis but it it wasn’t the quantity of U.S. Debt that was being offered that threatened the system then it was it was the fact that that inflation and the future value of the dollar you know the cash is trash type thinking the turn that you know that that we’re setting up something that could really affect future of the world in terms of its economic system. And Paul Volcker took it on and he was got his could be and if you haven’t read a book or two about him or the one he last wrote you’d be able to take a look at it but it is I I don’t worry about the quantity. I worry about the fiscal deficit you know if it it but I’m not a warrior just generally I mean I I think about it and but I don’t sit and get up work myself into a Stew about it in the least but I but I can’t help thinking about it and that’s we’ve got a we’ve got a great attention it’s it’s interesting and I think the media enters into this and the focusing that focuses on the Fed and they you know they just love it because things are always happening and economists are always saying what’s going to happen with the Fed and everything else but the the the fiscal deficit is what should be focused on and and and Jay Powell is a a a not only a great human being but he’s he’s a very very wise man but he doesn’t control fiscal policy and every now and then he he sends out a kind of a disguise plea for please please pay attention to this because that’s where the trouble will be if if we have it.