Comments by "Frederick Miles" (@frederickmiles8815) on "Making Life Hard for Chinese Tech || Peter Zeihan" video.

  1. Sort of right but also very wrong - CCP currency is a derivative of USD (pegging, yen carry trade, etc) that is all it is. The more as you put it 'saturate' the more they are inflating that peg and make yen carry unsustainable. The real deflation is the underlying - USD denominated debt (collateral). As I told Heather and Janet prior Biden taking the oath - there would be no post lockdown recovery there would only be USD deflation that idiots in the Fed would treat as inflation as rehypothethication of existing pristine collateral that underpins liquidity is a chimera, as most collateral is built on decaying quicksand (derivatives, equity - which is rigged via ml algos, and good old fashioned ponzi schemes - 'hedged' by toxic CDSs), meaning a huge chunk of that global 300+ tril USD debt cannot be paid back and as rates rise in order to fight a nonexistent enemy, causing production grinds down and prices go up). True inflation is money supply is flooded (like DXY under 85) and tons of cash are chasing goods and services that cannot keep up as the economy runs hot, causing prices to out pace prod. True deflation is the cost of capital is so great to due scarcity of currency you produce less and charge more (in the depression wages went up and many times prod would be shuddered for weeks at a time). Its been so long that folks cant separate price v monetary inflation/deflation. As the Austrians pointed out all inflation/deflation in monetary, price to prod stats are KPIs or KRI and no one can track global dollar supply. Also if you dont understand that Fed bank reserves are not currency - you shouldn't comment on economics. Currency in our system is created via bank lending not Powell going brrrr (while reserves may prime the pump that is only true if our clients are credit worthy). BOE and others are different, but in our system credit risk is decentralized and our hollow man central bank is privately owned (by participants) but guided by public targets.
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