You’re witnessing the accelerated fall of an empire. This year expect major escalation with Russia and China for driving global de-dollarization. When the US can no longer fund its debt with money printing it will collapse under the weight of its current debt. It’s happening now.
— Kim Dotcom (@KimDotcom) January 17, 2023
via dailymail:
The debt ceiling showdown: Republicans and Democrats in furious negotiations over spending as Congress decides whether to increase the $31.4 TRILLION limit – 120% of the US GDP
Speaker Kevin McCarthy and President Joe Biden are facing a showdown in their first major legislative clash since Republicans took control of the House, as they prepare to do battle over whether or not to increase the country’s eyewatering $31.4 trillion debt limit.
Treasury Secretary Janet Yellen warned that the US will hit its cap on Thursday, January 19. Once that happens, she will not be able to issue new debt without congressional action. In the meantime, the department will use ‘extraordinary measures’ to keep the government afloat – a move that is expected to last until June.
Congress is spending more than 120% of US GDP and as a result the government is breaching its $31.4 Trillion debt limit. t.co/flI9c0yH7T
— @amuse (@amuse) January 18, 2023
With 2 Days Until Deadline to Raise Debt Limit, Congress Not in Session, Biden Not Negotiating
De-dollarization in action.
Saudi Finance Minister:"Saudi Open to Settling Trade in Other Currencies."
World’s largest oil exporter, which maintained the US dollar for decades in oil trade, is seeking to strengthen its relations with crucial trade partners including China. pic.twitter.com/MRo7KBxx70
— Kim Dotcom (@KimDotcom) January 17, 2023