A financial apocalypse. The government attempts to "sell U.S. debt" to foreign countries and other buyers and nobody shows up at the Treasury auction. So.... The U.S. states itself buys it own debt. That's called "monetization of the debt." It's like you not being able to pay your credit card, so you open ANOTHER credit card to pay the old credit card and current expenses for which you have no revenue. Pretty soon, your word, your money, and your "promise to payback" are all meaningless to stores with which you do business. So, the only way to survive is to "reset" and "start over." For the government to do such a thing, they must close the current Central Banking system, go "cashless" and turn to CBDC with NEW digital Central Banks. It would be a brand new system, and the government would be able to control EVERYTHING - how much you spend, how much you make, how much you should be penalized for your Carbon Footprint (by taking away CBDC's) from your account. Jefferson knew that DEBT leads to the tyranny of totalitarianism. We about to get a taste.
"rrr Rick Kuter"
A financial apocalypse. The government attempts to "sell U.S. debt" to foreign countries and other buyers and nobody shows up at the Treasury auction. So.... The U.S. states itself buys it own debt. That's called "monetization of the debt." It's like you not being able to pay your credit card, so you open ANOTHER credit card to pay the old credit card and current expenses for which you have no revenue. Pretty soon, your word, your money, and your "promise to payback" are all meaningless to stores with which you do business. So, the only way to survive is to "reset" and "start over." For the government to do such a thing, they must close the current Central Banking system, go "cashless" and turn to CBDC with NEW digital Central Banks. It would be a brand new system, and the government would be able to control EVERYTHING - how much you spend, how much you make, how much you should be penalized for your Carbon Footprint (by taking away CBDC's) from your account. Jefferson knew that DEBT leads to the tyranny of totalitarianism. We about to get a taste.
What happens in the "black swan" event?