by Capitalist Eric
Excerpt: "Well, folks, we’re here.
Over the past decade I’ve written a few essays on the coming economic collapse of the USA. I noted in 2013 that the on-book national debt was an estimated $16 Trillion. The actual debt using Generally Accepted Accounting Principles (GAAP), which includes all off-book obligations (promises of future payments such as Social Security, government retirement accounts, Medicare A & B, et.al.) was $238 Trillion. Today the on-book debt is $30.3 Trillion, not quite double what it was when I last wrote about this. We can reasonably assume the total debt according to GAAP is similarly doubled, all in at $450 Trillion.
The rest of the world loaned us such vast sums, merely because the dollar was the worlds’ reserve currency. And that worked, when the USA produced things of inherent value. Oil and gas, manufactured goods, electronics, software, infrastructure products, even textiles. These days we manufacture dollar bills (or digital currency), and shoot anyone who rejects them. But these strong-arm tactics have worked up until now because we basically slapped around weak countries to keep them in line. Anyone who attempted to “de-dollarize” has had economic sanctions put against them, or invaded, or “revolutions” fomented to facilitate the execution of such leaders who would dare to challenge the dollar hegemony. THIS is the real reason for US troops in Iraq, the desire to go to war with Iran, the NATO attacks of Libya, the attempts to start a war in Syria, the destabilization efforts in Turkey. In every single example listed, the leaders of those countries had announced their intentions to bypass the dollar. Even now, when Saudi Arabia announced they were negotiating with China to sell oil in Chinese Yuan, a missile was mysteriously launched from Yemen somewhere that wiped out a huge refinery in Saudi Arabia within a few days; quite the coincidence.
Speaking of Saudi Arabia, the country is now run by the Crown Prince Mohammed bin Salman, since the King is apparently an invalid. A source told me last year that Prince Salman had openly demanded of his generals, to buy Chinese or Russian military gear; he was told this wouldn’t be possible, due to losing support from the USA. I don’t understand the dynamics of the situation of the time, but the Afghanistan withdrawal debacle has demonstrated that the USA is a paper tiger, and undependable as an ally.
No surprise, considering our “woke” military generals, decrepit and fraudulently “elected leaders” like pedo-Joe and his sidekick “ho,” whose only apparent core skill is the ability to suck-start a J-58 jet engine. Oh, and don’t forget Nancy “box-wine” Pelosi and stolen-valor Senator “Dick” Blumenthal. Yeah, good luck in the next election. But I digress…
The point is, the Bretton-Woods-2 agreement was already on death’s door, and the intentional actions of the Deep State (who use Biden as a puppet) are destroying the credibility of the United States, have pulled the last vestiges of support for the dollar as the worlds’ reserve currency status by forcing Russia and China together… and now here we are."
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