RT: US blows out $16.7 trillion debt limit

US passes its own debt limit. Economic collapse to infinity.


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2 Responses to RT: US blows out $16.7 trillion debt limit

  1. Ryu says:

    That was pretty much expected. We set new records every month.

  2. trouble says:

    I think the key will be gold.

    The dollar as global reserve currency is supported by US military power and US military power is supported by the dollar as global reserve currency. Technically there is no upper limit to the debt as long as that duality remains true and it will remain true as long as there is no alternative reserve currency.

    However USG is an increasingly erratic rogue state.

    China, Russia etc can’t contain USG militarily so there only option is to take down the dollar and replace the global reserve currency with something else.

    Hence China buying all the gold that’s been stolen from the Federal Reserve over the years.

    The Chinese don’t want to float their currency as it would instantly turn into the global reserve currency and appreciate massively hurting their exports but they must be close now to the point where they *could* take down USG in a day.

    Personally i think this currency collapse scenario is the most likely. It doesn’t chaneg all the MW stuff you talk about as all that would be just as useful in a currency collapse.

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