About $23T USD currently exists, ~90% of that exists only on ledgers.
The US National Debt is just shy of $40T USD
“Printing” money is an asinine suggestion, considering that trying to repay the National debt would require the US to at least double the amount of currency held digitally, if not triple it.
The entire world’s monetary system is balanced on a needle point.
not the entire world’s, just the Western financial system
Can we skip to the part of the movie when the US gets its kneecaps broken in an alley while the mob boss stands over it and screams “WHERE’S MY MONEY?!”
There’s too much pointless filler in this plot.
AI bubble bursting will cause a great tech depression. At that point its weapons free for the creditors.
Dear God,
Please collapse the American empire for the good of the rest of the world.
Love,
Little Timmy
Conservatives used to crow about how they’re the “party of fiscal responsibility” whilst simultaneously blowing up the deficit on completely unhinged endeavors every time they got into power.
They still do, but they used to, too.
Kinda like those student loans they won’t fix, huh
This phenomena ruined so many African nations. A dictator comes in, defleeces the economy and disappears. Leaving the country open to leveraged loans, and world banks.
A real country with a real sovereign currency shouldn’t need to borrow to print it’s own currency. That’s only done so they don’t have to seek political agreements to appropriate the money.
Easier to have the executive order the treasury to take on more loans than ask the Democrats in Congress to authorize a spending and appropriations bill.
This phenomena ruined so many African nations. A dictator comes in, defleeces the economy and disappears. Leaving the country open to leveraged loans, and world banks.
That is a very different phenomenon. Those countries owed money in a foreign currency, namely US dollars. The US also owes in US dollars, but that is its own domestic currency, which it can print at will.
The US has no need to take on these USD loans, because it is the issuer of that very currency.
So why is the US borrowing its own currency? To give the wealthy a safe place to park their capital with interest. Why would the US do that? Because the wealthy want it to do that, and they run the state.
I wasn’t thinking of hyper inflation due to debts denominated in foreign currency. More just about corrupt leaders.
lets just say, borrowing is favourable for the usa. If they decide to just not pay, noone is gonna get the money back. Of course, then you have no one willing to borrow you money, then you can still start printing.
Say the us owes 1 Trillion us dollars. They print so much money inflation made that 1 Trillion equal to the value of one Apple. Boom, you can pay all your state debt with 1 apple. For convienence you introduce Trump Dollars afterwards with exchange rate 1:1Trillion.
I think non banana republic consensus is, states shouldnt borrow money to cover running costs but to cover investments. investments provide a ROI you can pay the debt back with.
