Comments by "Piccalilli Pit" (@piccalillipit9211) on ""Elon Musk is Wrong Again" Top Economist Warns the US" video.

@evilryutaropro I totally agree with your comment - the one very interesting thing is, China is now issuing govt Bonds in $USD that are redeemable in $USD or RMB cos OPEC countries don't trust the US wiht thir $$$. This is sucking up the $USD in the world and bumping up the value of the $USD, China now has $1.5 trillion $USD in cash that it is operating as a swap fund for other countries. So the US has partially lost control of the $USD - I have no idea what the long term implications are for this cos it has NEVER happened before... In essence, China is sucking up your inflation for you, whilst lowering their own currency value relative to yours so you can buy more - which sounds like the best buddy in the world. But what happens when China has $5 trillion in cash? You HAVE to do what they say or they just collapse your economy by dumping trillions of $$$ onto the market.
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@discreplayboss Well I just did and so did the other chap - its not hard
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GOVERNMENTS SPEND MONEY INTO EXISTENCE they then tax that money back and effectively destroy it to curb inflation Government LITERALLY are the magic money tree...!!! You notice they can always find money when the banking system goes belly up cos of greed...??? If the government does not spend money, then there IS no money. The GOVERNMENT creates the fiat money
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70% of the US economy is based on people self promoting
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They all borrow money in external currencies - which is real and then printed paper money [which is fiction] to supply internal demand. The US [much as I dislike the US] borrows money in $USD and prints $USD and destroys $USD at will. This is why even as a massive supporter of the EU - I as a Brit would NOT region if we had to lose the £GBP. Not cos I like the Kings head on the money - but for this EXACT reason
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