Get Up Pig!

[Get Up Pig! @Getuppig]

@chigrl The baking soda raises the meat’s pH level, helping proteins retain more moisture during cooking and resulting in noticeably juicier burgers without altering flavor much.

[Get Up Pig! @Getuppig]

@zerohedge Options for SPCX start trading on June 16th. Check back later.

[Get Up Pig! @Getuppig]

@staunovo @US_OGA @chigrl why not build a data center here?

[Get Up Pig! @Getuppig]

@Jack_Raines @claudeai Request they refund the charges with equity.

[Get Up Pig! @Getuppig]

@andrepaltry For the same reason why WTI was at $60 back in 2015 when Cushing was busting at the seams.

[Get Up Pig! @Getuppig]

@andrepaltry Venezuela to supplement the heavy we need.

[Get Up Pig! @Getuppig]

The **US national debt** (also called the federal or public debt) stands at approximately **$39 trillion** as of mid-March 2026 (recent figures show it eclipsing $39 trillion around March 17, 2026, with Debt to the Penny data around $38.99 trillion mid-month and continuing to rise).

It's owed to a wide range of **domestic** and **foreign** creditors who buy US Treasury securities (bills, notes, bonds, etc.), which the government issues to finance deficits.

The debt breaks down into two main categories:

- **Debt held by the public** (~80% of total, roughly $31–32 trillion recently): This is money actually borrowed from outside the federal government.
- **Intragovernmental holdings** (~20%, roughly $7.5–7.6 trillion): This is money one part of the government owes another (mostly non-marketable securities).

### Who Owns the Debt (Key Holders of Debt Held by the Public)
The majority is held **domestically** (by Americans/American institutions), often 68–75% of the public portion.

- **US private investors and institutions** — The largest overall group (~40–50% of public debt): Includes mutual funds, pension funds, retirement accounts (e.g., 401(k)s and IRAs), ETFs, banks, insurance companies, corporations, state/local governments, and individual investors (including high-profile ones like Warren Buffett/Berkshire Hathaway holding hundreds of billions).
- **The Federal Reserve** — Typically the single largest single holder (~13–15% of public debt, around $4.5–5+ trillion in recent years, though exact amounts fluctuate with monetary policy).
- **Intragovernmental / government trust funds** — About 20% of **total** debt (not public debt): Primarily Social Security Trust Fund, Medicare trust funds, federal employee retirement funds, etc. (This is essentially the government owing future benefits to its own programs/citizens.)

**Foreign holders** own roughly **25–32%** of debt held by the public (~$9–9.4 trillion recently, a record high in some reports).

- Top foreign holders (as of late 2025/early 2026 data):
- **Japan** — Largest, around $1.1–1.225 trillion.
- **United Kingdom** — Around $800–890+ billion (has risen recently).
- **China** — Around $680–800 billion (has declined in share over time).
- Others in the top tier include Luxembourg, Canada, Belgium, Ireland, and various others (Europe as a region holds a large portion collectively).

Foreign ownership includes both governments/central banks (official holders) and private foreign investors.

In short: The US mostly owes the debt **to itself** (domestic investors, the Fed, and its own trust funds), with foreign entities (especially Japan, UK, and others) holding a meaningful but minority share. Treasury securities are seen as one of the world's safest investments, backed by the full faith and credit of the US government. Data comes from US Treasury reports, Fiscal Data, and analyses like those from the Peter G. Peterson Foundation.

[Get Up Pig! @Getuppig]

@_MAGA_NEWS_ @TRUMP_ARMY_ What Navy?

[Get Up Pig! @Getuppig]

What an incredible write up by @chigrl

[Tracy Shuchart (𝒞𝒽𝒾 ) @chigrl]

Cursory thoughts ...

1. The delivery squeeze at Cushing. April WTI expires March 20, which is 12 days away. Anybody short April WTI who doesn't want to deliver physical oil has to buy it back before then. Anybody long who wants to take delivery needs to be ready to accept 1,000 barrels per contract at Cushing. In a normal market, this is routine. In this market, physical barrels at Cushing are becoming scarce relative to demand because Gulf Coast refiners who normally supplement Cushing connected supply with waterborne imports (which are largely Brent priced, much of which transits Hormuz) have lost that supplementary supply. They're pulling harder on pipeline connected domestic supply. Cushing is the nexus. The short squeeze into expiry is amplified by the physical tightness.

2. The export arb is breaking. The US exports roughly 4 million bpd of crude. That export flow exists because WTI normally trades at a discount to Brent, so traders buy cheap WTI, pipe it to the Gulf Coast, load it onto tankers, and sell it into the global Brent priced market. When WTI approaches or exceeds Brent, that arb dies.

3. Physical versus financial settlement. This is the part nobody is saying out loud. WTI delivers real oil. Brent settles cash. When the market is genuinely afraid that physical supply is being destroyed, the contract that gives you actual barrels in a pipeline connected storage facility in Oklahoma is worth more than the contract that gives you a check based on a price assessment of North Sea crude that you still have to go find and transport. Cash settlement is a claim on nothing. Physical delivery is a claim on oil. In a supply crisis, that distinction reprices.

4. The Russian waivers are Brent negative, WTI neutral. Treasury's waivers let Indian refiners buy Russian Urals crude. Urals prices against Brent, not WTI. Millions of barrels of Russian crude are now flowing to the waterborne market, providing marginal relief to Brent's pricing complex. None of those barrels touch Cushing. So Brent gets eased at the margin while WTI doesn't.

[Get Up Pig! @Getuppig]

@chigrl @cvpayne Now that’s pro info. Never knew that option existed.

[Get Up Pig! @Getuppig]

@Muhammadummeyh @grok is this true?

[Gunther Eagleman™ @GuntherEagleman]

Iran is about to be more free than NYC.

[Get Up Pig! @Getuppig]

@safalniveshak @grok was this song a remake or completely created by AI?

[Vishal Khandelwal @safalniveshak]

If you have a father who can still pick up your call...call.

[Get Up Pig! @Getuppig]

@RedWave_Press Carbon monoxide vs carbon dioxide. What happened to planting trees? Make Arbor Day great again.

[Anand @anandragn]

Trading this market feels like...

[Get Up Pig! @Getuppig]

@Kalshi what are the odds of @saylor getting liquidated in 2026?

[Tracy Shuchart (𝒞𝒽𝒾 ) @chigrl]

The frac spread count refers to the number of active pressure pumpers used in hydraulic fracturing within the oil and gas industry. In laymens terms it means how many crews are being hired or fired.

[Get Up Pig! @Getuppig]

- The post recirculates a September 2025 clip from Russia's Eastern Economic Forum, where presidential aide Andrei Kobyakov claimed the US aims to offload its $35 trillion debt by shifting it into stablecoins, devaluing the "crypto cloud," and restarting economically, as part of reshaping global gold and crypto rules.
- By December 2025, US national debt has climbed to $38.4 trillion, per Joint Economic Committee data, fueling renewed speculation on crypto's role in debt management, though Kobyakov's theory lacks substantiation and echoes historical US inflation tactics like those in the 1930s and 1970s.
- Thread replies mix agreement on US debt pressures with critiques, including Russia's own $2 billion+ crypto transactions for sanctions circumvention in 2022-2024, per Chainalysis reports, underscoring mutual geopolitical maneuvering in digital assets.

[Get Up Pig! @Getuppig]

@ClayTravis @Riley_Gaines_ I do not support the University of Miami.