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Politics : Formerly About Advanced Micro Devices
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To: IC720 who wrote (1478093)8/15/2024 10:57:14 AM
From: Qone02 Recommendations

Recommended By
denizen48
Doren

  Read Replies (1) of 1583152
 
So I take it you don't want to bet on Armstrong's last election prediction. LOL You're funny.

"How bout tell us in detail, what happens after US Canada, Europe, possibly Japan defaults in coming years?"
Sure, that's easy. A fiat currency can't default on its debt. It's impossible.

Lets look at the US debt in detail.

The US debt is denominated in federal reserve notes, a fiat currency.
They can be created to infinity. So any debt in them can be run to infinity.

The federal reserve with a click of a mouse could pay off the entire US debt tomorrow. They won't because that would break the fiat system.

I'll let you in on another little secret, the stock market is just a reflection of the amount of money there is. The more money there is the higher it goes over the long term.

Money can only be created through US debt increases, if this stops or reverses the stock market will tank.

This is why the federal reserve wants a 2% inflation rate. Inflation has the net effect of forgiving long term personal debt. As wages go up in inflation a 30 year mortgage payment becomes less and less of the percentage of income.

The US debt never goes down, it can't that would break the fiat system. Your hero Trump added 8 trillion dollars to it and there was no cry from the conservatives at all. The debt is just a political ping pong ball. It's bad when your not in power and ignored when you are in power.

The system will go on and on, through all political elections.
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