Josh Sigurdson talks with author and economic analyst John Sneisen about the recent news of Federal government “market debt” in Canada reaching 1 trillion dollars. Now, as John explains, this isn’t just “market debt” this is debt owed and debt that the government is simply paying the interest on. When you only pay the interest on the debt, you likely aren’t planning on paying off the debt itself. That’s where the panic is truly coming from as interest rates rise.
On top of that, the debt comes from ridiculous sources. Out of this world currency creation, fractional reserve lending, insane government spending. It all has to topple down eventually, it’s just a matter of when. Of course the fundamentals are off the table due to the level of manipulation in the monetary system and the markets so we cannot put a date on it, but we know the crash will inevitably happen.
All fiat currencies eventually revert to their true value of zero. They always have, they always will going back to 1024AD in China.
Interestingly enough, all the warning signs are popping up as The Bank For International Settlements warned recently that Canada is one of 3 economies (alongside China and Hong Kong) most likely to see a banking crisis in the coming years. Household debt recently reached 1.8 trillion dollars as well. To top that all off, Canadians are being taxed to death.
From the income tax to the property tax. The GST, PST, in many cases the MST. Business taxes, capital gains taxes, eco taxes, carbon taxes (which are taxes on generally every single product in stores) and of course the hidden tax of inflation as prices skyrocket everywhere while wages stay below the inflation line as government forces regulations on businesses knocking small businesses and employers out of the market while propping up major monopolies.
Trudeau is just the beginning. Government’s specialty is extortion and a populace in debt is a populace in servitude.