Views of Vicky Sue Mckinnis
Today Max Keiser interviewed Stefan Molyneus to discuss the most recent political theatre. Stefan said, China makes the argument the US has already functionally defaulted on its debt by devaluing the dollar against other currencies. The Dow, in its real return, has lost 34% since New Years 2000 as the dollar has lost 40% in the past 10 years. Stefan said, “This has been done by keeping interest rates artificially low and printing money.”
The US has become the primary holder of US debt; having purchased over two trillion dollars of US debt and becoming the primary holders of the US mortgage industry.
If we are paying our Visa with our American Express card we’ve already shown we can’t pay our debt. The US has used Federal Reserve tricks to “buff up the beast a little longer; however; it is similar to rearranging the deck chairs on the Titanic after it’s already hit the ice berg.
This was written by my oldest daughter Vicki Sue a well read young lady.