Theory: A debt jubilee is coming

by SleepNowMyThrowaway

The massive over-reaction to a supposed killer virus is being used to mask and provide cover for a debt jubilee for the average person and business, devalue the dollar to make it more competitive internationally, and also allow the US to default on it’s international debt.

The simple fact is the debt overhang is so large, it cannot be paid back; and if it cannot be paid off then it won’t be. Default is assured but the only question is ‘how’?

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Outright default could lead to war, and to disillusionment among the “I paid off my debts and worked ever so hard; why should anyone else get a break” dullard class.

So it has to be given cover – and shutting down entire states thus completely destroying tax revenue, while simultaneously ramping up their costs via unemployment and more social spending will provide that cover.

Toss in a few thousand dollars in direct payment to the population and that further burdens the Treasury.

In the end debt gets dialed back to zero, the USD is removed as reserve currency (Oh no! Not the brier-patch, Br’er Fox!), and a massive economic boom results as all the cashflow going to service debt can be poured into actually spending of goods or on savings, which are another word for capital.

Loss of Reserve Currency for the USD is needed before the US can return manufacturing, as the nation that holds the RC must run a current accounts deficit (Triffin Dilemma). A global default would do so.