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Remember that about 70% of these treasury bills are held by the public. This makes up social security, retirement accounts, they are held by mutual funds, pensi
by gen3 5y ago
Remember that about 70% of these treasury bills are held by the public. This makes up social security, retirement accounts, they are held by mutual funds, pensions, and banks.
A default would shudder the world economy, and destroy confidence in the USD.
- mark_l_watson 5y agoYes indeed. In the spirit of “know your enemy” (the elite class) I joined The World Economic Forum about a year ago - lots of interesting material! Just my little opinion, but the economic elites either eventually need to run up inflation or crash global currencies. There seem to be logical reasons for both approaches, so to me it is a coin toss what they will do.
- nradov 5y agoWhen debt service eventually becomes unmanageable the economic elites will most likely pick a technical default instead of inflation that wrecks confidence in the dollar. Essentially they'll force creditors to take a cram down by exchanging their current Treasury bonds at face value for new ones with longer maturities and lower interest rates.
- kayamon 5y agoMy bet is that they'll swap for something ultimately blockchain based, using Bitcoin's fixed inflation curve to rebase the dollar on going forward. (eg BTC-ETFs, central bank digital currency, etc)
- WhisperingShiba 5y agoIf the protocol is worth anything, the Elite can't control the economy as well. Then what point is there to being elite, if you cant use your 'superior' intellect to direct global trade?
- AnimalMuppet 5y ago> I joined The World Economic Forum about a year ago Can you just... decide to do that? How do you go about doing so?
- mark_l_watson 5y agoI got a free invite from the Exponential View. Search for digital edition works economic forum.