Comments by "US Debt Implosion" (@timcampbell2023) on "The Great Debtpression 2029-2039" video.

Imagine a world where the entire money supply is created as debt, and rented out at interest. "While each euro, pound, crown, rouble, dollar and yen of course is somebody’s asset, at the same time it is also somebody’s debt. Consumers carrying banknotes in their wallets hardly think of themselves as creditors; nonetheless, banknotes represent the central bank’s debt to banknote holders. Similarly, a bank deposit represents the bank’s debt to the customer." - Soumen Pankki - if you woke up tomorrow and all the debt had be magically paid, there would be no more money in circulation, in our current system money comes into existence in the form of debt with interest. If people could wrap their minds around the implications of this there would be a revolution by tomorrow morning. The fiat fractional reserve currency system is the greatest fraud and injustice against humanity and the ecology of the planet that has ever been witnessed.
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Our debt was just downgraded. As the debt grows the a greater portion of tax revenue collected goes to servicing the debt and not the common good. This percentage increases over time and thats a huge problem. How do you resolve that? At some point debt spending does not increase GDP. That is what policy makers hope, is that tomorrow’s debt spending produces the growth that it once did. But the debt spending will become more inefficient over time. Also, Japan central bank has kept its rates low. If the US government lowers its rate the Fed will have to overtly monetize. They are covertly monetizing the debt right now through the 10 year. This economy is trapped. Any benefit of innovation will be negated by the Leviathan. We are at an impasse, the corruption of Washington is the main issue.
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And how much GDP growth say this year is based on credit debt which is very high, possibly all time. In other words you can use debt today and have GDP growth, but what is this in the future? It becomes a drag on growth.
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@EconLessons I'm not talking about the debt slavery oblivion our government is spending the masses of unborn citizens into, that's not what I'm talking about at all. MONEY IS DEBT. Money comes into existence as commercial loans made by banks with interest attached in the form of debt. Money they created out of nothing, this is fractional reserve banking. This means new credit money must be created to service the interest on previous debt... fractional reserve banking is highly inflationary during periods of credit expansion. This is the crime against the environment and humanity. If new credit money is not created, there is a shortage in the system and that means assets are forfeited back to the banks, who created the money out of nothing. That is occurring right now. That and what the US government is doing, taking us into war for zionism when we can no longer afford will cost us dearly. Political zionism is a curse upon this earth. During WW1 Britain fomented arab nationalism to overthrow the ottoman's and one of the promises they made was to the Zionist for state. Problem is, they stole that land and claim biblical right of return. This is nothing biblical at all, but we are going to fight to the death over political zionism. How much do you think that will cost? Zelinsky will turn against the US now as his funding begins to dry. The Ukraine issue is obsolete to DC now. There is a new war baby in town? This is exciting! Washington birthed another endless taxpayer project right out of it's rear, what next?
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Iran will open a front, then north Korea will open a front, then China will open a front. US will the have a four front war and the debt based fiat currency empire will come crashing down. We really are going down the path to hell and the Washington elites only know escalation. An existential threat to humanity like no other is before us.
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we need an abundance of all types of energy, mainly cheap energy, because renewable in and of itself won't help a whole lot because we need ever increasing energy consumption in out debt money paradigm with it's ever growing interest demands. We have to destroy the planet just to satisfy the wet dreams of the people that run the monetary system. “Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist” - Ken Boulding -- change the system, then we can talk about sustainability, until then its spitting in the wind.
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