Alistair Lacleod:
From last March until today, we can see a total of $8 trillion worth of QE (money printing) required to pay for all the programs, and that includes Biden’s $1.9 trillion, which I know has not been authorized—yet. The figures are enormous. There is absolutely no way that the dollar can hold its value with that level of money printing. That’s just to deal with Covid. Biden also wants to finance green spending . . . . How much more spending on top of that goodness only knows. The thing is a mess, and it’s not just America. When I look at Europe . . . they are incompetent . . . and when you get an incompetent government like that, forget it. The Eurozone banks are on the verge of bankruptcy, I mean beyond insolvency. They are on the verge of bankruptcy. How do you handle a situation like that when you’ve got an incompetent bunch of bureaucrats at the top? This is going to happen, and I am surprised it hasn’t happened yet.
Econophysics2020 