Apologies for the repost, I had some technical difficulties migrating the podcast to a new host.
"The U.S. Government spends in a budgetary deficit, then issues treasuries to pay for the spending, then, at a bigger rate than anybody else, buys the treasuries to cover the loss. An unbelievable Ponzi scheme. The U.S. Government is the director of the Ponzi scheme, the old investor, and the new investor. A true masterclass."~ Cole Walmsley
Today we tackle the intricacies of fiscal irresponsibility through a Twitter thread by Cole Walmsley. As the U.S. government’s deficit spending spirals into what can only be accurately described as a “masterclass Ponzi scheme,” listeners are beckoned to question: How long can this last? With the state of national debt, the illusion of monetary stability, and the inevitable downfall of fiat currencies, are we witnessing the death throes of the dollar, and can a new monetary system rise from the chaos?
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"The whole government is a Ponzi scheme."~ Bernard Madoff