BRICS GOLD Currency A Hoax?! | Alasdair Macleod

[@SoarFinancially]

We are on Substack! Be sure to check it out for exclusive summaries, video updates and more! Alasdair Macleod article👉 soarfinancially.substack.com/p/brics-gold-currency-a-hoax

[@Lukky_Luke]

It's Republican funded polls that claim Trump is leading. So why you believe it's s done Deal?

[@rogerburn5132]

I see Alasdair Macleod Brilliant information I press LIKE LIKE 👍👍👍👍👍

[@ScottRuark-q8x]

Did you say debt to gdp in US going down since 2020-how could that be- maybe the government shut the economy down in 2020- long term trajectory not good going back to 1970’s if you think it’s possible for debt to GDP to go down your not good at arithmetic or political science

[@ScottRuark-q8x]

@@Lukky_Lukeyour life won’t change no matter who wins-lighten up! And besides there are no Republican funded polls that we actually see- prepare yourself mentally because in the last two elections Trump was under polled by 4-6%-

[@rogerburn5132]

@@ScottRuark-q8x Maybe he made mistake debt to GDP in USA is Going up everybody knows that

[@Tonyrobs2]

It’s always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I’d say you’re better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.

[@DonaldStokes-p]

Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver, stocks and digital currencies are also good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you.

[@PASCALDAB]

Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.

[@SeanTalkoff]

I envy you, I’m still trying to recover from losses I incurred in 2021/2022, who is this investment adviser you work with, I’m intrigued and I could use some quality guidance

[@PASCALDAB]

@@SeanTalkoff My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@SeanTalkoff]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@naderblack1114]

Alasdair Macleod is one of the best I have ever heard, everything he said is spot on. Thank you for inviting him to speak and looking forward to the next time.

[@rodmarshall6747]

Alasdair Macleod is an excellent guest!! Very insightful, thanks Alasdair 👍

[@SoarFinancially]

Glad you enjoyed it!

[@JayDee-x2b]

Nah he is too biased against real money...the replacement for fiat currency. He only loves debt and fake money system. He sold out to Lord Rothschild usury NWO

[@Fitinfifties]

Gold is rising because countries and banks are trading out of their depreciating dollar assets and into gold.

[@tschmitz4522]

You saved everyone 57 mins, but I like hearing the gory details...

[@Julian-pj2zi]

As a percentage of reserves, they're not putting much into gold tbh. The Chinese for example are putting far more into belt and road loans, I.e. acquiring infrastructure assets. You do realise they make those loans in dollars btw? Noone wants CNY, yuan are no use if you're trying to build a cargo port in Africa. You do realise that CNY has debasement too? If nothing else, its soft pegged to the dollar, so as the dollar debases the CNY has to as well to maintain the soft peg.

[@naveenkotha67]

If no country uses Swift system US will loose track of commodity prices ,countries trade in their respective currencies so eventually $ will fall.

[@pieterviljoen1620]

BRICS trades are done in a distributed local currency manner. The countries us whatever collateral they have, but not FAIT: Gold, Minerals, Commodities etc. The purpose is not to replace Gold as many analysts claim. It is to move trades where they are no longer manipulated by the US and it’s forced use of the dollar. Realizing true value of the trade and eliminating what gets collected as fees on the dollar.

[@eymaslacker]

Exactly. The petrodollar near monopoly was one of the points that was used to support the value of the dollar. The BRICS countries are among the top 10 in various commodities from grain to metals. So now you are putting up a new currency unit to a basket of commodities + a balance source such as gold (to prevent too large a variance range). The gold exchange is also prevent western manipulation of gold prices (and thus indirectly the currency unit) + the BRICS are major producers

[@mikkimikki5376]

Best info on BRICS!

[@shawnkristoferu8303]

He is absolutely right. Gold retains its value. Thus when gold is going up it is because its value versus fiat currencies is going up while those fiat currencies values are declining.

[@jimmillward3505]

This man is the Gold guru. such a wonderful insightful interview. Stackcellerate

[@SoarFinancially]

Thanks for the feedback. 🙏

[@JackieBaker-e3k]

Agree. Very likely we r headed for a decade long bear market in all western assets. It will be a period of geopolitical n currency changes. Within US this is the chance to do the long-needed economic n social n government reforms. If we succeed, US will be on a long-term sustainable growth path in a decade. But we must take the pain 1st n do the adjustments. From investing pov, sell all US, european equities n bonds. Go long Gold and Crypto. Go long emerging market trade........ I have managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to JinnyFranz whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[@JackieBaker-e3k]

She's mostly on Telegrams, using the user name

[@JackieBaker-e3k]

JinnyFranz

[@CraigLeiphart]

Access to good information is what we investors needs to progress financially and generally in life. this is a good one and I appreciate

[@WhitneyMorgan04]

Thank you for sharing your experience. She’s helped grow my reserve, despite inflation, from $87k to $246k as of today..Her insights and daily siignals are worth following.

[@SamMcNaughton01]

This is why it is advisable to connect with a true market strategist in order to avoid missing such opportunity and maintain steady gains.

[@christopherbailey1221]

Great discussion with Alasdair MacLeod. Thanks

[@odysseus521]

BRICS are going to use some kind of gold backed currency. This is why most world banks are securing as much gold as possible. The old fiat way and its settlements functions and banking systems will be transformed into something different. The Unit is a viable solution or will be some derivative of. Whatever it'll be, it'll be gold related. Central banks are currently telling us that.

[@stephenyoung8429]

Always wise words from Alasdair! Top class guest ❤

[@stevion2250]

Very good interview, Kai and Alasdair. Thank you!

[@SoarFinancially]

Glad you enjoyed it! Thanks for the kind feedback 🙏

[@phil7442]

Alasdair should be appointed Chancellor of the UK - such a clever and knowledgeable man, thank you to you both!

[@alanmrsic893]

Great stuff, thanks again!

[@charnockvideo]

Great discussion, thanks a lot to you both.

[@SoarFinancially]

Thanks 🙏

[@adamzioriophotography]

We don’t live in a fair system. For one, Bitcoin shouldn’t be at that price, BUT IT IS! Gold SHOULD be higher, BUT ITS NOT! If you’re going off of a market on a true value, you’re going to lose. The “bad guys” are in power and always will be.

[@fairuzshahimi6930]

Exactly and agreed 💯. Bitcoin does not have intrinsic value.

[@carlostello5734]

The guys in power play with us and we sheep's just follow them...

[@jeremysmith5232]

history shows this is not true, civil war is coming in many places, and a changing of the guard

[@Chuck68ify]

​@@carlostello5734Only game in town. 😊

[@ESKFmma]

Not being a sheep if you have to use paper money We have no choice

[@johannakamstra-schickendan7380]

Thanks love Alasdair so well explained.

[@douglasthompson9482]

Some good thoughts…..everyone has their opinion.

[@longgowhereto]

17:00 "Money does not move - credit does!" So store your metal in freedom and find it for yourself as well.

[@livinthedream7714]

Finally.... an expert who can squash Andy Salesman's BRICS goldbacked Unit bs! Thank you, Mr. MacLeod!

[@adamzioriophotography]

This is also one opinion.

[@stephenyoung8429]

Agreed 😂

[@harpoen7358]

When the master speaks we listen

[@sonofwilliam8]

Two of my favorites. I love your educational content

[@SoarFinancially]

Thank you for the kind feedback 🙏

[@RantingOldHat]

Debt … or evidence of Debt is what people often confuse with Credit… Debt is money… we create it by an equitable pledge or promise to pay… the person taking the loan actually is the creator of money and some bank have a license to create money or register debt obligations… it is very simple actually

[@vermeerrecpt9290]

I wish I had the panache of Alasdair Macleod.

[@Dragon-gl1rw]

In Gold We Trust!

[@dillonsawyer9377]

Thanks!

[@SoarFinancially]

Our pleasure! Thanks so much 🙏

[@sulaimanabdullah952]

Excellent host and guest and good information THANK YOU

[@SoarFinancially]

So nice of you

[@ronaldmiller3619]

Some guest on Donella(ITM) Said gold wouldnt reach 3000until 25. I agree, gold has gone up way too fast. Down 41.00 today 31st. Silver is always down.

[@crazeben]

Nothing goes in a straight line, but the trajectory long term for gold looks positive.

[@Silvermachine7]

It's a regular pattern at the moment for gold and silver. Check the daily history for both metals. Silver pulls back 3-4% a couple of times a month, then creeps back up again, gradually reaching post 2010 new highs. It still has a way to go until it reaches it's all time high of 2010. I am only invested in gold, silver and uranium at the moment.

[@John-c4r1o]

That logic would be correct if an identifiable currency was depreciating, but the USD EU GB are all relatively in alignment while gold has appreciated.

[@aal9330]

Yes it’s super inflation in currency all over. Everything is up except the trust in governments and currencies.

[@SpencerHall-ve9su]

Kai is the bomb…..goes the dynamite! Great interview as always!

[@SoarFinancially]

Very kind, thanks! 🙏

[@Indoor-Cyling-Revolution]

I disagree. Why haven’t platinum and palladium rallied if it’s a weaker dollar?

[@seeker2118]

I guess probably because they are not considered monetary metals. So they are not widely considered stores of value.

[@ozyrob1]

Yes, and why haven't all commodities gone up in line with the increase in gold price? If it was simple a case of the dollar losing value EVERYTHING would be going up in price at more or less the same rate. Gold has a very good future and I have no doubts but there won't be a dying USD. No one country has anywhere near the required gold reserves to back their currency without it being repriced to completely absurd levels. Their will be no BRICS gold backed currency and Putin in the last day or 2 has stated exactly that. The most recent 2 is 1 gold channel paraphrased Putin saying exactly that. BRICS gold backed currency is a complete nothing burger nonsense with zero possibilities.

[@monetarnie3841]

Platinum and palladium are not gold and they will never have the same status in the society

[@Indoor-Cyling-Revolution]

@ I understand that. But if the argument is the dollar is losing its purchasing power, then the dollar loses its purchasing power against everything, not just a few things. Now I am not saying, the dollar is holding firm, I’m just saying that gold is on an extraordinary run that is not reflected in any of the other precious metals. And you can’t say your dollar is worth less when it’s purchasing gold, and then in the same breath, say your dollar is worth the same amount however when you’re purchasing platinum.

[@seeker2118]

@@Indoor-Cyling-Revolution The dollar has been losing purchasing power since 1913. The dollar lost even more purchasing power after the abandoning of the gold standard and it became purely a Fiat currency. Losing purchasing power is a matter of over creation of currency. Every new dollar created makes all the dollars in circulation weaker. So you will need more dollars the chase the same amount of goods, inflation. The difference now is the dollar is losing its value as a store of value being replaced by gold. Thus an increase demand for gold by central banks as store of value to replace the dollars and US debt drives gold prices higher. Also increased demand for gold in Eastern countries namely China and India as a savings instrument helps in pushing the pice higher. There is not demand now for the metals you mention but eventually. As more dollars are replaced in savings for gold more free dollars will drive up the price, in dollars, not the value of most commodities they will just be chased by more dollars, basic supply and demand.

[@qwerty90615]

Very coherent discussion.

[@Julian-pj2zi]

I''ll never understand how someone who ostensibly understands money, doesn't understand bitcoin.

[@ruster719]

Why cant the BIRCS trade in local currencies and allow any resulting surplus to be sold for gold? No need for their own currency.

[@Emilahp]

BRICS is on standby for Trump and the US dollar backed by Gold. The BRICS are waiting for the Trump Inauguration, and the new dollar backed by GOLD. The FED will be gone by April 15, 2025. So a new world, cheaper prices, and Trumps Alliance led by Putin & Xi are bringing about a World Currency in which no one will have to change trading in the US Dollar. With the FED gone, the sky’s the limit! Now Go and Suceed🎉🚦🗽💰💵

[@roadtested9009]

Given the reported accounts of the Chinese economy, I find it hard to believe that Chinese households are enjoying a 35% savings rate. Indeed, the savings of Chinese consumers may be evaporating as quickly are they are in the rest of the world.

[@petruflorintofoleanu5865]

ALASDAIR ❤

[@Truthkindnesslovefunhealth67]

Either way - we are being played

[@GM-zn5tx]

"Smart people were talking about the unit" lol. The irony is lost on Kai It was just a paper promoted by 2 people. These people were asking for donations for development of the "Unit" aka it was a crypto scam. Finally someone understands the "Unit". Thanks Alasdair!

[@survidmt]

I had a time I had to explain how paper money had value to someone. When they finally understood, it has value because people put value to it and faith others will too. So it's value is all based in faith it has value. They were shocked when they realized it is that fragil and loose of a system.

[@sholland42]

Tell them to try to buy something with Confederate money.

[@simonrowe3124]

It’s not as fragile and loose as one would think. The more people that have faith in the nature of something having ‘value’ and a medium of exchange to transfer that value from one person to another, the stronger the faith grows, and as populations grow and are introduced to the concept of value, the greater and stronger that faith becomes.

[@hart-coded]

grt interview.thx

[@MGTOWTheRationalMensClub]

India = 30000 tones of gold (official + privately held) China = 31000 tones of gold (official + privately held) Russia= 12000 tones of gold (official + privately held) USA-= claims 8300 tones of gold which has not been audited/verified since 1953

[@rozaliamajores4798]

I may not be a finance whizz, but know that AUD was stronger while gold backed! India has the most gold in the world, and playing the West has a lot to do with their greed and savvy business minds! The greedy Western countries took their business for cheap labour to Asia for a quick buck! China had plenty of practice in process work! As a former communist country they retained 1 custom, that profits them like Russia tremendously! Highest academic level of education from the poorest child to the richest, thus one can find that even street sweepers are more educated than Western politicians, who started private colleges , schools for the rich while dragging down state school education to gender ideology within 60 years! However todays rich get the diploma's not for their hard work, but money that opens doors to governments, without any common sense! US $35 trillion debt rises by $1 trillion every 100 days! NATO countries also like EU, with ruined economy in debt they won't be able to repay in a century! Facts and truth has nothing to do with good financial management, but lying about the others whose number is growing by billions considering there are 8 billion people on the planet, exploited colonies will certainly join those who set them free, so plenty of buyers for their products. US with 150 million living in abject poverty of whom 10 million are homeless, can't afford the inflated prices of cars or even clothes when working 100 hour weeks for putrid apartment and food alone with no health insurance! In the last 5 years or less life expectancy in the US down from 74 to 55, the biggest contributing factor is over 60-es ending their lives because they can't survive, and have no medical treatment( their report not mine) add to it the growing number of gender mutilated whose average life expectancy is 39 years! The Fentanyl US produced and spread it through China to kill their youth, China sent it back and sadly many homeless war veterans die because the government doesn't provide treatment for PTSD and that's all they can afford! Around 1.2 billion Westerners will no way survive trading among themselves alone! As over 100 wars, coups, civil, proxy wars in 75 years depleted them completely! Even if they get India and Saudi Arabia no countries will line up to join the evil warmongers club! As most of them were victims of the Democratic West some centuries! Facts please not propaganda as that will not change the end result but prove some to be liars!

[@laccess911]

The bear market for fiat currencies has been going on since the inception of fiat, but gold prices in fiat terms have been fluctuating since then. I think it's accurate to say it's bull market for gold.

[@Adnancorner]

I would like to know how much is military debt and the corporate debt by "bailing out" and if it is majority which I think it is, then public has no obligation to pay that.

[@fnuclone1229]

The public never was supposed to be obligated to pay debt. "They" hoodwink the citzens into a trustee position via forced birthing contracts, etc.

[@gerrydepp8164]

"There are no markets any more only manipulations" GATA 20+ years ago . If this was not so then it would be possible for the average joe to accurately estimate risk and it would be obvious to everyone that the real risk today is SO HIGH that the interest rates are no way adequate to compensate for that risk. I dont need to elaborate on what that would mean for the WESTERN economy - but without that constant manipulation - possible only because of the handy ability to (as Alasdair says elsewhere) "create credit out of nothing" it would have been obvious LONG ago. This is the problem nobody wants to talk about and what the BRICS are doing - nonsensical or not - is going to END that manipulation - which the US cannot allow. Golds rise is the beginning of that long awaited end.

[@Emilahp]

It doesn’t matter, DT and his Alliance are in charge. The new Dollar backed by Gold , and maybe Bitcoin? Many Conservatives who back Trump, want it to be only gold. But just like they thought only Gold, and only Christian, the US wasn’t set up that way. The US Constitution is pro religion, and the Constitution is based on the Torah, First 5 Books of Moses. The US is for a just and fair govt, supported by Free Men,rule of law. Let’s hope that we get that. DT got rid of the FED. It started when Trump moved the FED to under the US Treasury in 2019, nothing can stop it from being removed.

[@alimurateren5814]

Kai you are really doing well thank you for your efforts.. And you are very symphatic person İ like you mu friend

[@SoarFinancially]

So nice of you 🙏

[@mandrews1245]

Alastair thinks an interbank market is all you need. And if it was a one world system, that may be true. However, BRICS does not want the Global North to know about any transactions and trade they are conducting. Also a system which looks different from the Global North. The Summit proposed an easy to comprehend system which all the members could readily agree with. They were not introducing a “final” product…. They will now propose these new members be party to the development and the new system may be announced in 2025 meeting. Alastair said this is a long term program, not something implemented overnight.

[@nationaladjusterservices7887]

Trump 2024 save the planet

[@seymorefact4333]

its slow and slow until LIGHTS OUT FOR THE FIAT DOLLAR! AND Americans wonder why they have skyrocketing inflation.

[@survidmt]

Canada, oh boy, having to refi on mortgages like commercial property, that seems like it would suck.

[@foilrider2000]

Hes right on the dollar going down, but there something to be said for demand and there is plenty of it.😊

[@venkatagiribn2217]

Mr Alistair. You may be surprised at what is going to happen as far as Brics is concerned. Backing is only a fraction. Silver may also be used.

[@richardlamos1436]

Agreed buy the dips and stick with it for a while

[@AndyMacaskill]

Alasdair MacLeod... (Clicks on video)

[@donaldduck926]

Alasdair got burned by Basel III not moving the needle for PMs so now he dismisses the Unit project altogether. It seems we could spend a few more decades of watching paint dry...

[@sholland42]

As an American I can say I have zero faith in our currency.

[@rallabhandiprabhakar4750]

Does this man know Indian private households and temples hold about 28000 Tons of Gold. The RBI holds only about 850 T of Gold. Whether BRICs currency is linked to Gold or not, the days of arm twisting using USD are getting over since a lot of bilateral trade within BRICs plus is bypassing USD . Nobody expects USD to be replaced in next few years, but one can not deny that the dollar dominance is being challenged . More sanctions will lead to more bypassing of USD.

[@sunilrodrigo324]

Rather. loose. with HILARY. than in win with BERNIE. SANDERS 2016, . rather loose with. KAMALA . Harris than win with. Bernie 2024. that is the democratic party today. professor. RICHARD WOLF

[@ronaldmiller3619]

People don't have faith on the dollar, so why hasnt the dollar collapsed, love thus guy

[@billypickren758]

From what i got from the brics summit is that they did replace the swift system and now has brics pay

[@seeker2118]

Debt to GDP is a meaningless measure as the government doesn't control all the GDP revenue. What is a truer measure is debt to government income as the government owes the debt not the whole economy.

[@nataliosimon]

122% is without local goverment debt. with it is 135%

[@whadayaatmeolcock6071]

That's functional interbank to replace swift is Ripple, using XRP! 🎉

[@AA-ou8kl]

the Unit will be 40% gold and 60% each country currency

[@actualfacts1055]

Why can't we have more reserve currencies for world trade to have competition ?

[@AyyappanRandaman]

A bear market for USD and Euro? What are they falling against except for gold?

[@federicogeorgel3702]

Alasdair sounds like an ancient wise dragon who s talking about things he personally saw through the ages....

[@ecopsych101]

Debt/gdp was at 122.3% in december of 2023.

[@ronaldchew4147]

All Government prints fiat freely !

[@Jimmy-mx4cc]

Exactly same story in Australia Landlords.. mostly owners are ,, government public self servents,,

[@seanmonear4917]

Excellent show but your giest needs to do better reseaech on stablecoins and the real value proposition of bitcoin.....

[@user-dw7hw1no2n]

it makes sense for BRICS to have a category for independent silent partners , not everybody is an extrovert, leave room for functional, trade only partners who MYOB and want others to do the same.

[@a.911]

Real debt is discharged with your work (life force)energy or someone else’s.

[@rippin724]

Did he say 30-40 year project?

[@longgowhereto]

Which would be too short in my eyes - these cycles go 60-80 years.

[@rippin724]

@@longgowhereto But the focus is when it's ready for go live, not the cycle. When it's live, big changes are coming.

[@survidmt]

It's cool how he uses the older way of referencing of a country as "She" and "Her". Like is commonly done with vehicles and machinery of all types.

[@umeshg9107]

So if you need a functioning interbank market THEN you need a bank settlement currency ie an alternative to US$

[@fnuclone1229]

XRP?

[@mgray3130]

I wonder what China's debt is to gdp. How can China keep all their projects throughout the silk road that has cost them?!

[@KI6YNZ]

I’ve never heard Alasdair sound so biased and self contradictory. A bit Oxford ish (naive) assuming BRICS can’t create a Swift system, with the World’s top credit analysis and banking institutions. Regardless, as it is said, what is happening should be happening.

[@SteveSentosa]

@7:25. White people tend to use the negative connotation word 'diaspora' only on non-white people. They dont refer to local white north Americans as Scottish diaspora, or English diaspora. They dont refer to local white Australians as Irish diaspora or English diaspora. But say if you are local Chinese living in Malaysia, or Thailand. You are a Chinese diaspora.

[@remnant888]

He's calling the dollar a debt trap.. How so..?

[@trevordowney6425]

If "there's only one way to get people to use anything but the dollar is to use a gold substitute," why is everyone including yourself so sure that a CBDC will be pushed on us? And if you can answer that one, why do you think it will work? For the record, I don't.

[@fishtherapy100]

The German seems nervous.

[@actualfacts1055]

All currencies are going down, it's nothing new, that's why people invest.

[@johngordon880]

BRICS need Brick's of Gold/Silver to trade with but they re all too lousy to part with their precious metals!🤪

[@Truthkindnesslovefunhealth67]

The old good cop, bad cop routine, or bait and switch - yup probably

[@Denise-vn8wz]

What's the unit he keeps talking about?

[@scherbius-q8j]

The name given to the BRICS new currency.

[@ronaldmiller3619]

Gas is down, thanks Kamala 😂😂😂😂

[@shivakorn]

Bank for international settlement

[@Ariwakikilla]

Chinese ports are getting flooded now 🔍

[@indardeo2285]

McLeod you wish.still in a dream land.the world doesn't want wars

[@sidsoni4235]

India is got the highest amount of gold for ur kind info. Peep into indian home and u will get 22000 tons

[@kellypatel822]

its funny, you talk about tangiblr units while all currency printing goes on unchecked in your countries

[@actualfacts1055]

We need more currency derivatives, surely AI can give us that, or am I naive ?

[@crazeben]

Still credit tho, no?

[@actualfacts1055]

​​@@crazeben Some currencies are more so than others but why can't we have more reserve currencies, such as the Euro, Pound and Yuan etc ?

[@Lovin_It]

18:29 I guess that would make you a limey?

[@MyDunu]

Karma returns my lords😂

[@jeremysmith5232]

Alistair can be as dimissive as he likes, but the system we have is not working. The banks we have have too much debt, the countries have been allowed to run up too much debt. None of the numbers in the present system work. The system he understands is dissappearing into the sand. Demographic population collapse is the death of the debt based system, garanteed. This is a shot across of the bow. This will not be a long slow process, history shows credit collapses always happen all at once. After years of stability, Allistairs whole lifetime, change is coming. This guy does not have the answers.

[@jeremysmith5232]

The brics nations have enough oil producing nations behind them to bankroll whatever they want, WITHOUT the BIS or the IMF. Any action to limit these great nations will backfire, every western nation is massively in debt, stop pretending that is strength