I was listening to a Peter Zehan presentation. He said the US covid stimulus package of three trillion dollars was larger than the rest of the world combined and the entire thing was purchased as debt by the rest of the world to stabilize their currencies. I am not certain how this works, but it isn’t as bad as just printing money... apparently.
Good post.
I assumed the USA Federal Reserve “purchased” most of that $3 trillion stimulus.
That is how money gets printed - the Fed creates money out of thin air, then sends a $3 trillion electronic check to the US Treasury in exchange for US Treasury bonds.
When you consider how low interest rates are, I am surprised that ANYONE buys long term US Treasury debt.
I view this the way Europe’s many childless leaders view allowing Muslims into their countries; they won’t have to deal with the consequences anyway, and they have no offspring who will either.
I think this applies to many of the middle-aged or older people engineering these Ponzi schemes with paper debt.