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RE: The US debt will rise to at least $30 trillion within ten years
Yeah, and the problem is that other countries have accepted these debts to be expressed in US dollar. So basically if the US wants to devaluate their debt, they just have to print a few more dollars...
It is time debts are noted in BTC ;-)
it is because we are the world's reserve currency, that we can print all we want without devaluing the dollar. If this changes, we will go bankrupt; immediately.
That might indeed happen.
Yes, and a big part of that is the requirement that all crude oil sales take place in USD. We've brought down governments for their announcing plans to sell their oil in some other currency. We Americans rarely even see all that our govt. is going to prop up our access to cheap imports and global dominance of our corporations. But it is so fragilely balanced. Just takes one country to big or too connected in NATO to decide to upset the apple cart, and it all comes tumbling down.