Comments by "Eric Astier" (@ericastier1646) on "World Affairs In Context" channel.

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  8. Such dishonest hiding denial from that Bernstein. The reason the Usa government wants to borrow dollars from other countries and from USa corporations is because it's a Ponzi scheme that enforces the dollar as the world reserve currency which makes printing the dollar by the USa reserve bank free money for USa bankers (and the US government). It is no different than selling snake oil (it was thought in the old West frontier that snake use some kind of oil to slipper on the floor but in fact there is no such thing). When he says the USa will never default on its debt, he means the fraudulent USa reserve bank could print tomorrow the equivalent of the US debt and give it to all its creditors and have 0 debt. But of course that is the equivalent of bailing out banks by quantitative easing. It means devaluing (actually crashing) the value of the dollar from the dilution thus cheating all creditors which will receive worthless dollar bills in return. A worthless currency can no longer be a safe harbor reserve currency and that would mean the end of the dollar and nobody would buy bonds anymore and people suddenly would be in a hyperinflation where a loaf or bread would cost more than a tank full of fuel. This would be the end of the USa economy under a fiat floating currency system that is eating its butter and selling it at the same time (fraudulous). So yes the USA would pay off its debt but the consequences would be the same as defaulting,. It would erase the dollar from the world stage instantly and cause an economy crash the same as defaulting anyway. If you don't see how the dollar crash would happen in that scenario, just think that suddently the quantity of dollars in circulation in the world is multiplied by four from printing it at the reserve bank. This means the supply and demand for dollars would tip to over supplied and cause price of everything in dollar to jump to hyperinflation. Essentially cutting the buying power of the dollar by four. From there countries will drop the dollar (dollar run) for safer currencies like the Russian Rubble and the dollar will crash even further loosing 10x , 100x its value. The closer to that situation the USa government gets, it has nothing more to loose and can trigger world war to redeal the cards which is exactly why it's doing wars by proxy against the major growing economies. When the dollar will crash, it may well initiate a nuclear attack just to bring the world down with itself. That's exactly why the US military budget is growing inverse proportional to the debt.
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