I wouldn’t call the banks “Leftists,” I’d call them Internationalist or Trans-national. They don’t try to hide this; they promote and extol it.
It seems like a fair bet for the banks. But I wonder how it might fail? Surely I’m not the only one wondering about this scenario.
Let’s say people jump the gun, and purchase foreign currencies before the banks have a chance to convert: soon the banks are spending already de-valued currency— simple supply —demand comes into play and the payout diminishes.
There’s also inflation. If 0 thinks they were raising hell in Europe, he hasn’t considered what we could do. Leave people with nothing, and they have nothing to lose.
This hinges on a couple of questions: How quickly can banks convert the massive sums without triggering a panic? What are the legal constraints? What are they willing to dare? What if 0&co. wake up and and take full account of political and financial constraints?
Its just too simple in some sense.But it will make a vast difference to many who do not see this coming.
It will fail because the US economy will not produce value fast enough to keep the standard of living to which Ameircans are accustomed. It will get ugly, violent, especially in the cities.And food will become scarce as bulk farms no longer have the ways to finance mass crop growth.
This is very heavy stuff. But as usual there is money to be made, if you can see what's coming and know what to do.
It also might mean war with China eventually.