Japan's national debt has soared to 235% of GDP, reaching 1,324 trillion yen, the highest among developed nations. In response, the Bank of Japan is selling off its extensive holdings of exchange-traded funds, valued at over 79 trillion yen, marking an unprecedented move by a major central bank. This action is causing significant turbulence in global financial markets. The yield on Japan's 10-year government bonds has climbed above 1.6%, escalating the cost of debt servicing. Meanwhile, the U.S. is grappling with its own debt challenges, with national debt exceeding $37 trillion, or 120% of GDP. As confidence in paper currencies declines, investors are increasingly turning to alternatives like bitcoin and gold. Japan's fiscal situation highlights the risks of excessive borrowing for other developed economies.