How US Debt is a Sign of Its Strength

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[@putinstea]

War is Peace Freedom is Slavery Debt is wealth

[@gileswilliams3014]

Well done, mate. As a Brit myself, I'd like to point out that we're not all this gullible.

[@georgekim933]

That is not his point. Why do people not listen but always try to contrary and clever. You are contrary.

[@PhilipMatthewsPAEACP]

@georgekim933 No he's not

[@gileswilliams3014]

@@georgekim933 Er.. yes. I don't just listen to what the leaders of the Federal Reserve and the MMT guys. I prefer the Austrian school, because they talk about real life, not just currency manipulation.

[@ouss]

Diversity is strength

[@TuxedoTalk]

Basically it's Mafia guys running up a tab on a restaurant owner and telling him he should be grateful they chose to grace his business with their presence.

[@roaringfork]

22:20 If you owe the bank $1M, the bank owns you. If you owe the bank $1B, you own the bank. Eventually, you own the largest item on the balance sheet, so the bank is worth nothing if you default, so they will constantly extend credit to you to save their own ass.

[@devlinX]

Eventually this brings you and the bank down.

[@OnlineEnglish-wl5rp]

@@devlinX That's not what brings you down. If the value of your debt is less than the value of the assets it's held against, you're good. And let's remind ourselves, it's been the Right wing which has been happy to see national assets sold off to foreigners

[@TheMightyWalk]

@@devlinX* lord Rothschild - “ what bank”

[@FirstLast_Nba]

Correct if the system was not a scam and the people were forced to bailout the criminals every time.

[@jerkysasquatch9256]

@@OnlineEnglish-wl5rp Ah please, almost every single senator and house of representative member is apart of AIPAC. Let's not also forget that opening up China was a collaborative effort between both parties either. It's clear that the people running this country regardless of political affiliation are out to undermine and sabotage our industry and society.

[@yuothineyesasian]

I always tell people that my personal debt is a sign of my strength, no one ever believes me though....

[@william-tm]

Sell treasury bills

[@ericwinters1513]

Credit-maxing is gigachad behavior.

[@gileswilliams3014]

Most importantly, the banks who are Federal Reserve shareholders don't believe you because they wouldn't give you a loan, but they're perfectly happy to spread this bilge when it's their debt about which we're talking.

[@georgeandthedragon9564]

A mortgage is a sign of strength as one pays it off over their life time and have access to a high quality house.

[@KnownNiche1999]

Because you don't control the currency your debt is issued in

[@varvarith3090]

It's not just "how much money we owe" It's "How much money we can get away with not paying".

[@JunkSock]

Line go up is always a flex

[@evolvedape3341]

Speaking of, did you see the market yesterday? Let’s hope for 40k today! My investments are looking great!

[@KnownNiche1999]

Sir, this is the IMF

[@tropics8407]

For the UK…you must use as much as your UK resources as possible, produce your own oil and gas (frack baby frack), produce your own coal, make your own steel, generate your own electricity, produce your own food…stop the importing and bleeding away your US dollars. Export export export or die, surplus and grow or deficit and shrink. Lower your corporate tax rate like Ireland did, remove stupid greenie restrictions….you are free from the EU, what are you waiting for ? Attract your capital instead of it going to the USA stock market

[@Zidana123]

Makes sense, but how does any of that help the UK government import more Africans? It doesn't? Well then they won't do any of that stuff you listed. Instead they're gonna import infinity Africans.

[@davidadiwego4608]

IMHO, one major reason why Liz Truss (i.e short term UK prime minister before Sunak) had her leadership destroyed was because she planned to slash corporate tax rates. Washington and Brussels may tolerate little ol' Ireland being super competitive of CTRs, but they weren't gonna tolerate a relatively major economy, UK, doing the same.

[@cortain330]

Nominally "free" from the EU, but not free from the GAE.

[@14Anon2]

We are free from the EU but we are not free from those who took us in, fought to keep us there and sabotaged us leaving.

[@Paul-A01]

I've missed Economic Agent

[@bastait]

he is straight up telling the deficit finance lie with extra steps.

[@Paul-A01]

@@bastait what's the truth?

[@CivilizedWasteland]

Watch The Money Masters documentary if you want to know the origin of these sneaky little fellows

[@NPC-st7zv]

Continuation of the British empire but wearing little hats?

[@FirstLast_Nba]

You are being an Anti.....

[@Caleb6000]

​@@FirstLast_Nba You sound like a cultist.

[@-Zardoz-]

Watch "A history of Central Bank king and thr enslavement of mankind"

[@juanmartinmesa2228]

@@Caleb6000 This is what a cultist would say.

[@nightcitydrive534]

I disagree there are no attempts at austerity. In the 90s there was a big push to get rid of the debt and USA actually ran a surplus budget. Untill 9/11 and all the wars.

[@bunberrier]

The Bill Clinton admin

[@notastone4832]

@@bunberrier lol the former government in canada got rid of the debt in 08.. now its far worse than its ever been.. all from trudeau lol problem is harper sold our gold reserves to pay it off last time..

[@tropics8407]

The benefits of having the world reserve currency and the largest economy and the largest private sector. Most of the debt is held by Americans and ominously the American central bank.

[@MatthewBester]

Debt is strength *if* managed properly.

[@plebenforcement3130]

It might’ve been a strength when their debt to gdp ratio was low single figures but the ratio now is forcing America into “logical” policies that are in fact extremely risky with any wrong move is capable of toppling the house of cards. Indeed Russians, Chinese and aligned countries are increíble close to being able to attack it effectively. With the competency crisis accelerating this cannot go on for much longer. Alternatives need to be explored.

[@devlinX]

Yes, this debt is only a sign of strength when you have the ability to pay it back. When it becomes obvious that you don't have the ability to pay it back then the system starts collapsing as they lose faith in the system. That's part of the reason that the dollar has seen so much inflation since 2008.

[@FeHearts]

@@devlinX if America defaults on its debts then it would be everyone else who suffers. As such the incentive is for everyone who owns US debt to prop up America in order for them to pay their debts.

[@tropics8407]

So you see why China does not attack Taiwan because then the USA will impose sanctions and seize assets (I.e. not pay back the principle of their T bills and bonds) just like they are doing with Russia.

[@os3ujziC]

​@devlinX US debt is denominated in USD, which the US can print in unlimited quantities. There will never be a situation where the US can't pay its debts because they can always print as much money as needed for that. The concern is that printing all that money will devalue USD, not that the US debt can never be repaid.

[@devlinX]

@@os3ujziC I was oversimplify the terminology, if the dollar loses value at a rate where the money becomes worthless then the debt won't be paid back in any meaningful way effectively defaulting on repayment of the debt. If the US feels that repaying their debt will collapse the economy then imo they will likely default before choosing hyperinflation.

[@guenthersteiner3311]

You should do one on who Soros “broke the Bank of England”. I want to know the mechanics behind it

[@user-kk8sw7bs2r]

He shorted the British pound… basically he bet that it’s price would decrease, which it did

[@guenthersteiner3311]

@@user-kk8sw7bs2r okay, when they say "broke the bank", they imply he was responsible for it going broke, but you're just saying he made a bet?

[@user-kk8sw7bs2r]

@@guenthersteiner3311 I don't know all the details super well, but yes, I think "broke the bank" is colloquial. Basically he realized that the British pound was valued too high on the European exchange market and that the British would have to devalue their currency. he then made "short bets" predicting the currency's devaluation. Britain did make this correction in September 1992. (this is similar to those who noticed the inflated US housing market prior to 2008 and likewise predicted it's collapse through short bets) So, again, without having deep knowledge on this, it appears that British made poor choices with regards to their monetary policy and Soros properly read the situation and got rich. I think from the market perspective, short betting is considered legitimate as a means to keep a check on currency and stock bubbles. In practice I don't know how well it all works out.

[@uncreativename9936]

@@guenthersteiner3311 The bank of england was on the other side of the bet and didn't have the money to pay the wager. Basically what Michael Burry did in the 2008 housing crisis.

[@guenthersteiner3311]

Thanks everyone for the intelligent and perspicacious responses. It is expected from an AA stream.

[@DashCamSamVids]

For what it’s worth I’d like to share something. I’m an OTR trucker covering about 3k miles a week up and down the Eastern region of the US. Industrial warehouses are being built on a level that I have never seen since my 25 years of driving. Some of the new construction I see do seem like factories but at least 90% are all warehouses. Much of them sit empty with signs “available for lease” but the rate of new ones seems to be increasing. I don’t know if it means anything in the context of AA’s discussion of the downfall of the dollar but believe me, something is happening all over the place. One person seeing one or two in town might not notice it but from my vantage I can really tell that something new is happening. Any ideas?

[@Schwertsan]

My only suggestion is fear of supply lines failing like they did during the lockdowns.

[@realityisenough]

Why make things if you can just stockpile all of it

[@unodragon2294]

Maybe detention facility in the making?

[@liquidkameleon]

Could some of them possibly be datacenters?

[@unodragon2294]

@@liquidkameleon possible think they have become smaller

[@tastypymp1287]

The rate of a bond never fluctuates unless it's inflation linked.

[@gabrielguitarman]

The rate is only set IF you secure it until its liquidation date. Up until then, buyers and sellers will push the rates to and fro based on demand, changing the Price per bond, changing the final yield.

[@tastypymp1287]

@@gabrielguitarman No. The rate the bond offers NEVER changes. You are confusing rate with yield.

[@gabrielguitarman]

Please, calculate the real yield of a bond pushed to maturity and another one sold before in a low demand market. If both are equal and the rate is the same, the bond market would not exist.

[@tastypymp1287]

@@gabrielguitarman I refer you to my previous answer. You need to understand the difference.

[@gabrielguitarman]

@@tastypymp1287 No, you're being a hard headed fellow. The rate of a bond is a promisse of payment due in its maturity. It is a standard of comparission. In the mean time between buying a bond and the maturity date, the yield (the "real rate", which still needs to be discounted by inflation) varies according to changes in Unity Price. The bottom-line question on this should be: does a 10% rate of a bond from a defaulting company or government provides the 10% yield? Academic Agent's followers are quite realistic individuais regarding politics, but you are being quite nominal about finance.

[@edgymandrill]

Glad to see AA make economic videos again. Good old classic content. It’s why I subscribed to the channel in the first place.

[@ilikethiskindatube]

Considering the claim at 30:40 ish that one nation alone can do this, isn't it said that France does it to North African economic satellites?

[@casadellangelo]

Yes, probably the only other example, and of course at a much more impoverished scale!

[@economicerudite4924]

I have to salute you with this one AA, great video and I’ll be picking up this book

[@evolvedape3341]

I think a big problem is the last comment at the end saying that countries can just “sell off” their US debt. Who would be the buyer in this dedollarization scenario? If countries are moving towards dedollarize their economies, who will buy up all their US treasuries?

[@user-wv8ii6tf5w]

I could be wrong, but the only way to dedollarize is cashing out and spending all the dollars on American goods and services or...just flushing all the treasures down the toilet. That'll show 'em )

[@tastypymp1287]

There's a mistake here I fear. Gold reserves facilitated the supply of money. But credit status is mostly linked to productivity. The US has a large, advanced, sophisticated, dynamic and diverse economy. This primarily gives lenders confidence in lending to the US. You'll see that many nations, Latin America as an example, default more quickly with a much lower debt to GDP ratio. This is because they typically have simple and less diverse economies. Servicing debt becomes unmanageable far more quickly. Advanced economies like the US and Japan however can handle far higher ratios without default. 'It's the economy, stupid.' 'This Time is Different' by Reinhart and Rogoff provides an explanation.

[@FeHearts]

10:32 Isolationism in US foreign policy means the Monroe Doctrine. For example American occupied Haiti from 1915-1934. Nearly 2 decades.

[@jamesforran9409]

Monroe Doctrine was a good thing

[@FeHearts]

@@jamesforran9409 I have to mention it because many in our sphere, disproportionately libertarians, are under the false pretense that America never invaded any foreign nations between the world wars.

[@deedoubleyou6024]

Very very interesting. I'm big into Bitcoin and a lot of the evangelists talk about dedollarisation and things. I still doubt that BTC will be the thing that does it, but with the BRICS and other countries signalling moves away from the dollar it really does look like the balance of power might be on the cusp of change

[@JDmix123]

BRICS 😂😂

[@TrickyNekro]

You have to be able to back soft power like a currency with hard power like a military ( or 4k nukes for that matter ). The reason the US was able to establish the dollar as a currency was its military power and primarily its navy. But I would argue that in the age of hypersonic missiles, the navy is simple tin can ducks sitting around.

[@mitchellcouchman1444]

​@@JDmix123China, Russia, India are all capable economies with vast access to raw resources and as the west decides it won't use its resources because "co2 is bad" they will overtake in industry.

[@JDmix123]

@@mitchellcouchman1444 BRICS is an idea that will not last or work.

[@richardmcdonald8724]

Hold gold and BTC when the dollar falls wealth will transfer to holders of real money. He who holds real money will become the new elites.

[@bjornkihlberg2103]

Damn, this was a good video. I realized already that the USD chasing more goods than just the goods of the US economy means that the US get a discount on printing its currency. I did NOT however realize that nations not using USD in their economies can still share the burden of US inflation. Lots to think about. Also, I've wondered why Milei would be so eager to adopt the USD for Argentina. Maybe it's better in the long run for a nation addicted to printing money.

[@NPC-st7zv]

Centrica did buy British gas. They bought the AA and sold almost everything they owned and then sold the AA on.

[@vickingvicbubble8042]

I still wonder why our overlords believed that the deindustrialisation of the US economy was a good idea?

[@highbrass3749]

Cheap labor. Same reason they don’t have a problem with open borders.

[@user-vo4cu2cn6c]

Honestly a little surprised it has taken AA so long to look into the money system. All of this is old news. An interesting video would be a follow up looking into the competing viable alternatives, detailing their pros and cons in usurping the dollar reserve system. Be they competitor government projects, or open protocols largely free of state interference. Long form content is the way.

[@AcademicAgent]

Most explainations I've seen focus on "petrodollar", I found Hudson's focus on balance-of-payments of US Treasury Securities quite novel and clear in a way others have not been

[@user-vo4cu2cn6c]

@@AcademicAgentThe focus is usually there, on the petrodollar, because that’s where the most throughput is. You notice as soon as leaders start to try and tinker with this they get the Gadaffi treatment. It’s the Achilles heel.

[@vorpalanvil]

@@user-vo4cu2cn6c Is this one of the reasons the regime is pushing "green" alternatives so hard, regardless of thier actual viability?

[@user-vo4cu2cn6c]

@@vorpalanvil it’s another way for them to gain throughput. With BRICS on the rise and a petrodollar waning as a sure thing, it’s important for them to create new markets using lawfare which they can get a monopoly on. But the bureaucracy of the US is now so suffocating that it even prevents it from building on, let alone maintaining their head start in green energy markets as we can see from Chinas absolute mogging of the US in their production of electric cars, solar etc

[@accelerationquanta5816]

Strasserism.

[@christianhall3034]

Fantastic video. Clearly explained American parasitism, which I failed to get across to our mutual Friended.

[@vorynrosethorn903]

Fascinating, explains a good deal.

[@Jigsaw0097]

I actually have that book. Bought it several years ago but never got around to reading it fully. I also read that intro though!

[@tastypymp1287]

Payments were not tied to gold. Money supply was. This is not the same thing.

[@markgoede5940]

2:51 The majority of US Treasury securities are issued by the US Department of Treasury (T-Bills, Notes, Bonds, FRNs, TIPS & savings bonds). STRIPS are the only US Treasury securities issued by investment banks (which are created through coupon stripping & are backed by treasury bonds purchased by investment banks that are held in escrow).

[@hkmorhsi]

Well same as any kingdom, like france back in 18th century

[@tdowell8615]

I had AA’s ad interrupted by another ad. Wtf.

[@AcademicAgent]

Ad inception

[@mikeybikey7201]

That happened to me aswell !

[@michaelgordonsaxophone]

Adblock on pc or youtube revanced on android. Can't understand how anyone is still watching ads.

[@tdowell8615]

@@michaelgordonsaxophone you still had to watch AA’s ad. And you had to seek out and install Adblock and probably downloaded malware.

[@rideforever]

Ads are a sign of AA's strength, here's why ....

[@albionicamerican8806]

The world's per capita refined gold supply is literally about an ounce, so remonetizing gold isn't going to work.

[@SCHMALLZZZ]

Silver works too. Most countries used to have a fold standard and Silver standard.

[@TrickyNekro]

Hard power wins every time over soft power and any currency is simply soft power as it involves the willingness of the participants to be part of the system.

[@Lexster918]

Who’s resisting the soft power? It wins in the long run. It’s more deceptive. Hard power shows itself as an enemy. Examples like pride celebrations are a soft power move. No opposition over time and it becomes the norm.

[@MoralistaDefinitivo]

Very interesting. Thanks.

[@LawrenceTimme]

This is the most interesting aa video in a while.

[@tomeboaventura9054]

Great stuff AA. One day you will write the book "Economic Delusion" xD

[@14iansphone11]

I think you glossed over what happens to the Stirling denominated profits from, say, the Cadbury takeover by Kraft. They would need to be repatriated back to the UK, reversing the Bank of England's need to repatriate $ ? Otherwise, salient points.

[@FourOf92000]

if you owe the bank all of your money, they own you if you owe the bank all of _their_ money, _you_ own _them._

[@coAdjointTom]

I think you'll find Jeff Snider's work in eurodollar university and his macrovoices podcast episodes very very interesting

[@frydemwingz]

never going to happen as long as the USD exists. all the people in the world that benefit from this and get all the adrenochrome they want dont want there to be a hiccup in this scheme.

[@tastypymp1287]

Precisely. Hudsons work, of which this take is based upon, places blame squarely and exclusively on the US. But many are complicit in this.

[@tastypymp1287]

How are the deficits free? You begin by explaining that bonds attract a yield and that the holder receives more than they gave. That deficit needs to be serviced. The debt cannot go on indefinitely if the servicing costs (the cost of capital) becomes too high. Default beckons at some point or serious inflationary problems (which can be considered a de jure default.) It is the productivity that ultimately underwrites the US. Ceasing buying US debt was a major contributory factor to the Great Depression.

[@uncreativename9936]

The video kind of gets it wrong. Think of US debt as a savings account for people with more USD than FDIC will insure. Buying US debt is just the rich person equivalent of putting money in a savings account. If you're the Bank of England and you've got all your finical bases covered and the US buys a British business which gives you an extra $10 Billion and you can't think of anything smart to do with the money, you just buy US debt with it so you can at least earn the interest of the bond. Because everyone else wants to park their excess USD in US debt, it makes it very easy to sell and exchange for actual USD instead of a bond, for when you do decide to do something with it. Edit (Selling a US bond is the equivalent of moving money from a savings to a checking account) Basically the US debt HAS to grow to keep pace with the demand of people to park their excess USD in a psuedo savings account. More about FDIC. Basically the US govt will guarantee up to $250k in a bank account in the event the bank goes under. Obviously if you have millions and millions of dollars even splitting it up into many accounts wouldn't be worth the trouble. So with money in excess of what FDIC will cover, the safest place to put it is US debt (if you've run out of good investments to put money into). TL:DR Whenever you hear "US debt" replace it with "Savings accounts for people with more money than FDIC will insure"

[@tastypymp1287]

@@uncreativename9936 You have a good point but it's not the primary motivation. Holders of significant USD that they're not deploying want to protect the value being eroded by inflation (currency depreciation.) US Gov debt is considered the best financial asset all-round for this purpose.

[@uncreativename9936]

@@tastypymp1287 The interest is hardly relevant actually. US bonds could literally pay 0% nominal interest and people would still buy them. Hence why people continued to buy them when the interest rate was lower than inflation. Again, working with the assumption that you're dealing with amounts larger than FDIC will insure, say $5 million. If you just leave that in a checking account with Bank of America, UBS, Barclays, etc. If the bank goes bust you're basically losing your whole account, there's no guarantee of the return of your money except whatever the govt is willing to insure. With US bonds the entire amount held in bonds is completely insured by the government. As long as the US (more specifically, the Federal Reserve) is able to issue new USD, they will always have the ability to payout the bonds no matter what. For personal use, if the amount in question is below $250,000 there's is ZERO reason to ever hold US bonds (unless you want to try bond trading, but even then corporate bonds will be more lucrative). You could put that money in a FDIC insured money market account and receive the interest rate the fed sets and have insured and liquid cash. Some brokerages will even issue you a debt card for your money market account.

[@tastypymp1287]

@@uncreativename9936 People 'didn't buy them anyway' which is why trillions sit on the Feds balance sheet. What's more, dealers are obligated to bid on them regardless of yield. 0% nominal return is fine when faced with potential deflation in a highly risky and volatile environment. You can still anticipate earning a real yield before getting the principle back. In any case your point is moot as we are not talking about household investors here. The institutions and sovereign wealth funds own nearly all the debt. My point is correct and still stands.

[@edenalmakias817]

Love this book, Hudson is an awesome intellect. The recent mmt documentary "finding the money" is very interesting and related to his work (same university in KC) but I felt they avoided speaking about this specific topic because it's way too controversial

[@tastypymp1287]

Supplying dollars to facilitate exports is not 'despite its vast wealth.'

[@Gauntlet_Videos]

This video needs 100K views

[@madeinengland1212]

I dint think Hudson has identified everything. When they made us bonds valid collateral, they just became money that pays interest. Another advantage to banks. Since our money devalues but theirs pays interest.

[@KamilSkalny]

I think that has been explained long time ago in the movie "Network".

[@somethingblank1589]

Good video.

[@PhilipMatthewsPAEACP]

If debt is no problem, and it is not to people who print the money! Why are they priming us for a economic collapse? CBDC!!!!!!!

[@DEadSpaCE211]

CBDC is more control and information of what you buy etc. knowledge is power. Also they get little fees with every transaction. Just another way to suck up more funds.

[@Usammityduzntafraidofanythin]

Do you think Australia is the most tory boy country in the world? It's censorship of Tiktok is extreme, and yet its govt doesn't confront progressivism.

[@greggturkington1]

TikTok? I'm Australian and have never heard of our Government censoring TikTok

[@DEadSpaCE211]

We have too many Karens in government yes.

[@regbar0]

I think Gregory Mannarino talks about this every day on his channel. Literally.

[@BrockSamson18]

I don't care. I just want to be able to afford food.

[@Javier-rm6ql]

This has been known even from before the internet. The only new part of the story was the last sentence. That is going to end soon.

[@theworldsays4264]

Damn, my homeland is awesome 👍😎. No one is going to 🤙 that bluff ever. Ever.

[@mouthofpower8492]

The Longhouse, just with money.

[@tastypymp1287]

But did the US own all that gold in 1949? Genuine question.

[@NGE0001]

My pension is full of US assets such as Stocks and in the UK it is easy and cheap for Brits to buy these unlike in most other countries so to an extent I don’t really mind. Those US companies also get higher valuations so UK assets in the USA actually make me richer. A better deal than we’d get with China I feel

[@JagdgeschwaderX]

I like the UK miners and oil companies though, they seem ridiculously cheap at the moment.

[@NGE0001]

Indeed! Though that discount is fast correcting itself. @@JagdgeschwaderX

[@The_Iron_Yuppie]

@@JagdgeschwaderX Yes, Shell is a baragin at the moment

[@TheGreatness-gg1jx]

Interesting premise but his conclusions are lacking. It would arguably be better to simply slap tariffs on imports to finance our domestic endeavours. The dollar as reserve currency really doesn't benefit most Americans, especially with Congress continually over-printing and eroding the dollar's purchasing power. Also, whatever fee European countries "paid" in buying US debt was more than balanced by us funding NATO and giving them tariff free access to US markets. If you don't think European NATO countries enjoy the luxury of American military aegis being the guarantor of peace just look at how pathetic their response has been to Russia's invasion of Ukraine. The idea that we would "invade" a NATO country because they don't want to buy our debt is a little absurd.

[@diewahrheituberfakten4800]

"The idea that we would "invade" a NATO country because they don't want to buy our debt is a little absurd." Of course there are more subtle ways to use a military. Look what the US did in the middle east and how it impacted Europe.

[@chickenfishhybrid44]

​@diewahrheituberfakten4800 you have yourselves to blame for how handled that. Your country in particular

[@diewahrheituberfakten4800]

@@chickenfishhybrid44 in liberalism mass migration (and also de jure illegal migration) is completely welcomed. I am against this lowest denominator ideology of weakness and self depreciation and have opposed my government since the beginning of the mass arrivals in 2014. And I can tell you, because this topic is of interest to me, there is no country in the Western world (EU, NA) that handled it good. The ONLY reason why migrants went to us and not to countries of Eastern block for example was because of higher social welfare for the RefUgEes. In no way any smaller country had dared to oppose the initial masses with military forces. And it was totally wanted by the Americans that it played out like it did. Just like they brought us the fucken Turks in the 60s. Nobody wanted them, but it happened (see how good democracy works??). In the Germany of today we have a press that is mostly for this migration from shitholes, even though it is proven to harm us. They are detached from the common man, probably even in agony against him.

[@judgecaligulabushman]

AA econ vid! RETVRN!

[@_tor]

Oh no, why did he do this, now I have to buy another book! My library is starting to look like a carbon copy of the Academic agents.

[@BlackMasterRoshi]

i just got a new shelf 😢

[@BasedLibertarianZ]

Has anyone seen the documentary '97% owned'?

[@spartacus4929]

Might as well invest in VUSA forever then, and have done with it?

[@johnson2207]

13:55 where did you get a picture of my cellar?

[@Mr_Sh1tcoin]

An investment of $1000 in a 10 year bond paying 4% would return you $1480.24 pretax, not $1400.

[@hugor1338]

But the bond issuer is still only going to pay you 1400. What you do with the coupons is a separate issue: put them on a winning horse and who knows where you'll end up.

[@madeinengland1212]

Making money from money is the eternal shell game.

[@peterconley5533]

"The large pile of cocaine I snort every day is an indicator of how powerful I am"

[@dara7678]

AA would you please consider a deepest lore with Zoomer Historian? Thanks

[@masscreationbroadcasts]

Is this like a "they're strong because they have the debt without collapsing", or "the debt contributes to its strength". Because I have several intelligence insults for the latter. (edit) Ah, getting others indebted and getting others to pay for it... that is more understandable.

[@anthonyyawtwumasimensah197]

I knew the comments were going to be wild.

[@Fudz4]

Stupid question, if the US government can raise money this way, what is the point of taxes?

[@GetOhn]

Control the plebs and make them think they have a say???

[@rubensano4860]

Just because they can.

[@ShankThatBear]

Subjugation

[@user-kk8sw7bs2r]

That would be a disastrous money policy… just because the US has the ability to print lots of money and keep interest rates low doesn’t mean that they don’t have to worry about inflation at all… tax collecting does not add new money into circulation so it is not inflationary

[@mouisehay930]

​@@user-kk8sw7bs2r correct, direct taxation is not inflationary.

[@caleb--]

Conveniently placed between Nudge Nap shows so no overlap.

[@ChrisAthanas]

Bitcoin is a solid solution, its following the power power law... keeping up with the exponential printing unlike gold

[@JurijPopotnig]

🤣😂🤣😂🤣

[@GetOhn]

​@@JurijPopotnigelaborate.

[@flangelouder]

tick tock next block. in this silly old world we live in, it might just be worth holding some.

[@rich1701]

Peter Schiff’s entire career destroyed in 30 minutes.

[@Godsservant778]

Excellent video

[@rileymckenzie6276]

hudson is based

[@rexmann1984]

MMT sounds great to the average. 😒

[@HerrOnuseit]

Michael Hudson on Cigar Stream. That would be very nais.

[@martingreer2714]

What is the intro animation from? Too much effort went into that for it to be a standard YT premiere intro.

[@Karl_Burton]

Have you read Bill Bonner's Empire of Debt ?

[@tastypymp1287]

Debt and Delusion by Peter Warburton is also a good read.

[@willosee]

I thought AA had been imbibing

[@tastypymp1287]

A depreciating currency can be good for exports but bad for imports. The US relied less on imports at that time so that's why it benefited. Well, until the oil shocks in the 70s....

[@golagiswatchingyou2966]

interesting

[@sgtgunfodder9263]

It is worth wondering, as Europeans, do we really want to get out of the American system? If we exclude the turmoil us stopping crediting the Americans would cause, Is the alternative without American investment in Europe any better?

[@GreyBearLine]

Not in the short term, but in the long term yes

[@anthonykeane4984]

It's that fear of short term economic crisis that has kept us in this slow death spiral . It needs to end though it'd be best on our terms not the Americans. They can't bomb us all 😂😂

[@100c0c]

Why do you think France's African "interests" collapsed when US hegemony is being threatened? Europe by itself will be worse than it is now.

[@edenalmakias817]

Self sufficiency is the goal and the solution to healthy economic systems. Extreme interdependency is what opens the door for manipulation and systemic crises

[@chickenfishhybrid44]

Seriously doubt it. People are so use to the current world order thar the US has largely funded and policed they assume it's the natural state of the world. Despite all the chaos the US causes in the world, things can be worse. Europe's precious trade the last 80 years has largely been protected by the US Navy.

[@_Dovar_]

It's a påråṣïțė on all dollar-using economies of the world. I'm sure [1] and their allies have multiple ways to turn this around, and cause [2] in the [3] proper. It would be like a [4] through the [5] of the GAE. _________ 1. China 2. hiperinflation 3. US 4. stake 5. heart

[@_Dovar_]

The censorship is f*****g ridiculous. I wrote this comment so many different times, I'm a cryptologist at this point.

[@joeshmoe7899]

​@@_Dovar_ 'murica has freedumb.

[@bellphorusnknight]

The velocity of money > its value I wish DAN and black horse was here

[@rickhaydan3433]

Thank goodness we have a response to all fatcat propaganda about how bad the National Debt is for America. The real problems in America are corporate debt and personal debt, neither of which the government controls. For a simpler explanation of this situation, read the excellent book by Stephanie Kelton titled "The Deficit Myth".

[@hoshinotanecedryctensaibat9711]

The whole world is a stage lol

[@MrValgard]

well China holding rumored 144k tons of gold giving them 75% of world gold too, with opec in Brics they can make petro-gold standard

[@666kingdrummer]

Knowing China, I wouldn't be surprised if all that Gold was really Pyrite.

[@TheMightyWalk]

The interest payments are a sign of death

[@TheShorterboy]

What Hudson not calling for global neo-feudal socialism

[@gileswilliams3014]

This is MMT nonsense!

[@AcademicAgent]

No. This clearly states that only one nation gets to do this. I have a video against MMT which many have watched.

[@gileswilliams3014]

@@AcademicAgent Yes, because being the global reserve currency allows for higher levels of money printing before the liquidity is no longer sucked up by international buyers, so MMT works better before it eventually breaks anyway.

[@edenalmakias817]

What??? ​@@gileswilliams3014

[@vickingvicbubble8042]

So now that the bluff is being called out, what is going to happen to the US dollar? What should people do with their savings?

[@tastypymp1287]

Your Kraft example ignores the fact that eventually the US needs to repay the principle of the bond as well as pay the yield in the meantime. Who benefits the most here?

[@odond36]

But they don't truely repay the principal do they? They repay the first loan with a second hence the liaibility is just "refreshed" but its still there.

[@tastypymp1287]

@@odond36 No. They do truly repay it. What the investor does with it is at their discretion. They may well choose to reinvest it in more US Gov debt if the yield is attractive. The US may well refinance in order to repay the principle. But that's their problem.

[@NathansHVAC]

sputnik is reporting that brics will use a cryto called "unit"

[@GI.Jared1984]

We all need to say no to america

[@BradleyGearhart]

This video was greatly needed. It’s almost impossible to get the point across to libertarians and the “fiscal conservatives”

[@geehod_jimmy3544]

where doth this anime intro come from?

[@zaacharydc]

It was made by YT for a premier intro preset