Parky60 Loc: People's Republic of Illinois

And Biden is planning MORE stimulus? And Biden wants to shut down the economy for 6-8 weeks? Biden is a globalist and he doesn't want to destroy America's economy for the the Great Reset and the World Economic Forum's "Build Back Better" which he used extensively during his campaign? Get you heads out if your asses, this is OUTRIGHT INSANITY folks! We are on the precipice. Parky60

Strategist: Almost 20 Percent Of All U.S. Dollars Were Created In 2020 Alone
Dana Sanchez ~ October 14, 2020
More than $3 trillion has been created in 2020 alone, which means that almost 20 percent of all existing USD has been created this year, according to Andreas Steno Larsen, chief global FX/FI strategist for the Helsinki-based financial services firm Nordea.

“Crazy statistics,” Steno Larsen wrote in a blog with Nordea strategist Mikael Sarwe.

On Oct. 1, the financial news website Wall Street on Parade published a report on how the U.S. central bank had pumped out “more than $9 trillion in bailouts since September.” The findings show that the Fed is getting market advice from Wall Street hedge funds including Frontpoint Partners — a controversial firm that shorted the subprime mortgage market during the 2007-2010 financial crisis, Bitcoin.com reported.

Some people believe that the Fed’s massive money printing will lead to hyperinflation.

Reddit users from the subreddit r/btc shared a video called “Is Hyperinflation Coming?” and discussed how the U.S. central bank in 2020 has created 22 percent of all the USD ever printed this year alone.

“The U.S. dollar has been around for over 200 years and for the bulk of that time, it was backed by gold,” one Reddit user wrote. “Having a quarter of all USD printed in a single year is more than alarming, it’s mind-blowing.”

Put another way, in the entire history of the creation of dollars in the U.S., the government has created almost a quarter of its dollars in 2020 alone, Nasdaq reported.



On Oct. 8, the Congressional Budget Office estimated that the U.S. deficit hit $3.13 trillion for fiscal year 2020, which ended Sept. 30, CNN reported. That’s 15.2 percent of gross domestic product. The country spent $6.55 trillion and took in $3.42 trillion for the year.

“The U.S. response to the coronavirus has already hit $4 trillion. And the next stimulus package will likely be somewhere in the $1.5 – $2 trillion range,” Jeff Remsburg wrote for InvestorPlace. “To be clear, this is money that the U.S. does not have. It is created from thin air … backed by nothing more than good faith in the federal government … and it is a sum greater than what our economy will create this year.”

If the U.S. debt-to-GDP ratio remains distorted, that would ultimately be unsustainable, according to a Congressional Budget Office report.

How long the U.S. can sustain such growth in federal debt is impossible to predict with any confidence.

“Such an increase in the money supply should be short-term inflationary, while we are more in doubt over the medium term,” Nordea strategists reported. “It could be argued that a massive increase in the debt load will follow such an increase in the money supply, which is why the debt burden may over time lead to disinflationary impulses. A pick-up in the velocity of USD is simply needed before this huge monopoly experiment finally leads to a noteworthy inflation pressure.”

dtucker300 Loc: Vista, CA

Neither party really cares about debt and deficits. They get elected by promising more and kicking the can down the road. It's our own fault because we won't elect or re-elect politicians who are truthful and forthright.

Ronald Hatt Loc: Lansing, Mich

1. Call China, & tell them the "debt" they hold against the USA....is no longer in effect....{ they erased that with wuhan virus!

2. Make American Politicians, { both sides}.....accountable for a Budget!

3. Stop allowing "pork barrel projects", in proposed legislation!

4. Stop election fraud, immediately!

5. Cease "Special monetary benefits", for Politicians! "Term limits, & no "residual" benefits"!

6. No more Foreign Aid, to dependent countries.....{ Unless it is a world tragedy, & they must get help to survive}!

This is just a basic start, to the run-away inflation, & insane spending of America!

Irresponsible politicians, are the downfall of this nation! { Too many on both sides of the "SWAMP! }....

dtucker300 Loc: Vista, CA

Dinty

I agree entirely - Denty

RT friend Loc: Kangaroo valley NSW Australia

Yearly US Gross Domestic Product is $ 20•5 trillion up from $ 16 trillion since 2015 the pandemic pushed money printing up in all Western and affiliated leading economies by about the same ratio, EU, Japan, Britain and South Korea all with comparable National debt (Japan is nearly double the US) going off the gold standard could have ended the USD as the main measure of exchange value calibration with international trading, what saved it was the Petro Dollar, all oil deals had to be settled in USD according to OPEC.

What's next after OPEC is dead and Banking in general is obsolete due to the Tech Revolution and the cashless society about to take over, hummm -+ _ -+ I think New Nationalism with stringent financial rules and regulations easily enforced, when you see pyramid selling outlawed and their architect's wealth confiscated you will then know liberalism is deceased, good job too, wealth should go to a good home, and parasites should be imprisoned, the alternative is all to do with bananas and monkeys.

Bad Bob Loc: Virginia

lpnmajor Loc: Arkansas

Printed by the US mint.