🇨🇦💙 What if Japan sells billion$ in US bonds and starts paying for imports in Chinese Yuen? This could be the global crisis that tanks the US dollar and gets the world back to WTO rules based trade?
With the current national debt nearing $39 trillion, and Trump blowing through $$ faster than the Titanic taking on water, this seems absolutely plausible in the near future. Additionally as the #2 holder of US debt, China, while not quite in the dire straights (no pun intended) as Japan, is I read 2 days ago; getting nervous over the current Trumpian War. That first domino could be teetering at this very moment.
About a month ago I mentioned that the U.S. was on the road to bankruptcy. This was just an accountant's gut feeling from reading about the debt - GDP ratio. This bean-counter brain says if you owe more than you produce from every source in the country, then you are technically bankrupt. Sure, the debt is backed by the country's assets, but they're not exactly saleable! Dollars aren't backed by gold reserves anymore! If nothing else it's a huge Source of Funds problem! The answer to that, since 1971, has been to print more money and say "you know I'm good for it!"
So the less than obvious course of action would be to spend billions a day in a meaningless war, and at the same time strangle the folks who hold your debt! With absolutely no business acumen the Orange Blob is on that road I mentioned once, where he's been so many times before!
🇨🇦💙 What if Japan sells billion$ in US bonds and starts paying for imports in Chinese Yuen? This could be the global crisis that tanks the US dollar and gets the world back to WTO rules based trade?
Yes that’s it. Sell all US stocks and bonds, and buy Canadian dollars, as we have PM Mark Carney 🇨🇦
how about $ a trillion?
I think Japan holds $1.9 Trillion in US bonds, but it’s time for USA lose SWIFT authority.
I overstated their position! wishful thinking. fixed it.
With the current national debt nearing $39 trillion, and Trump blowing through $$ faster than the Titanic taking on water, this seems absolutely plausible in the near future. Additionally as the #2 holder of US debt, China, while not quite in the dire straights (no pun intended) as Japan, is I read 2 days ago; getting nervous over the current Trumpian War. That first domino could be teetering at this very moment.
People have died, are dying and will continue to die because the US protects pedophiles and felons. This sickens me!
About a month ago I mentioned that the U.S. was on the road to bankruptcy. This was just an accountant's gut feeling from reading about the debt - GDP ratio. This bean-counter brain says if you owe more than you produce from every source in the country, then you are technically bankrupt. Sure, the debt is backed by the country's assets, but they're not exactly saleable! Dollars aren't backed by gold reserves anymore! If nothing else it's a huge Source of Funds problem! The answer to that, since 1971, has been to print more money and say "you know I'm good for it!"
So the less than obvious course of action would be to spend billions a day in a meaningless war, and at the same time strangle the folks who hold your debt! With absolutely no business acumen the Orange Blob is on that road I mentioned once, where he's been so many times before!