US Debt ceiling crisis explained | Why QUAD Summit 2023 got canceled | What is De-Dollarization
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- čas přidán 18. 05. 2023
- In this video, we'll learn Why QUAD Summit 2023 meeting got cancelled. US Debt ceiling crisis explained, what is the reason behind the US Debt ceiling, what is de-dollarisation, why many countries are adopting de-dollarization and what are the reasons behind it.
#quadsummit #debtceiling #dedollarization
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America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April last year alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun.
Collapse is generous 1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them. Reckoning for participation trophies is incoming.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@tatianastarcic Hi Mate, please how can i reach this CFA of yours?
@@maiadazz It's best you do your due diligence, I have my portfolio overseen by “Laurel Dell Sroufe” and her qualifications speak for itself. Most likely, the internet is where to find basic info, she has a noticeable page for consulting.
@@tatianastarcic Thank you for the suggestion. It was simple to discover your coach. I did my research on her before contacting her. Given her credentials, she appears to be competent.
Don't fret, the debt ceiling always goes up. I wonder if 2008 crisis survivors had it easier. I'm concerned about the stock market, I've lost $35,000 this month, and my income is down. Worried I won't save enough for retirement as I can't add to my savings.
Save at least 20% in your 401(k). Use online calculators to determine your ideal contribution based on age and income. This strategy ensures a comfortable retirement and capitalise on compound interest for growth.
Amid the complexity since 2009 and Corona, consider diversifying your portfolio. A colleague grew hers by $160K with defensive system and an advisor in this turbulent market.
Hello! who is the consultant that assists you with yours and if you don't mind, how do I get in touch with them?
My advisor is Stacey Lee Decker, a highly respected professional in her field. I encourage you to delve deeper into her qualifications. With her extensive experience, she is an invaluable asset for anyone seeking to navigate the financial market.
Another big bank in America has just collapsed, now this means that 2 big banks in the past week have collapsed. That's not a good trend, furthermore there's additional banks that are now losing their value and their stock is plummeting right now. Now honestly hopefully this trend doesn't continue but if it does we could be looking at one of the biggest recessions in America history, hopefully not as big as a Great Depression but it could be a pretty recession, so everybody save your money, you know try to make sure you have multiple streams of income and stay prepared
As dollar is losing value so as other countries currencies values are depreciating gradually. Is time to start making use of Bitcoin now
If you don't want to waste your time learn how to trade instead. Take actions to achieve what you want in life.
It really isn't about how much you save, it's about how you manage your money. Whether you work to earn income or invest, it still boils down to you
I will advise you seek the help of a pro broker out there who can coach you to achieve success
Crypto trading is very profitable, I started the year joyfully after partaking in December last year. Never knew it was this lucrative
The next economic crisis will be bigger since we can't afford to bail it out like last time. It should have been worse last time and honestly it wasn't as bad as it should have been. Also, those who will default on their loans will be those individuals who had good credit scores and the loans were more prime, which makes it scarier in many ways. Moreover, we have inflation now devaluing the dollar and markets, yet back then we really didn't(other than high gas prices).
The true reason for our current financial crisis which we are about 7% into, was during the pandemic the central banks from England, Japan, France, Australia all the western central banks under the direction of the European Central Bank gave trillions in newly created dollars to the likes of BlackRock who bought assets like real estate from their rich buddies, injecting those trillions directly into an economy of consumption since everything was shut down. As for the market, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with much needed experience and know how.
think you can point me towards the direction of your Consultant? Been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
This recommendation came at the right time, very much appreciate it. Curiously looked her name up on my browser and found her site top search, no bs.. 31 years of experience is certainly striking!
A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k
@@MarkMilley810 in my opinion, the impact of the rise or fall of the U.S. dollar on investments is multi-faceted but learning how to grow your money has never been easier than now that you can explore and experience a truly diverse marketplace passively by using a well-performing portfolio-advisor.
@@leonarodwell I agree, having a portfolio-advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020, I was really having inveesting nightmare prior touching base with a license portfolio-advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
@@lindholmlille You are right! I diversified my $500K portfolio across various market with the guidance of an investment coach, I have been able to generate a little bit above $1m in net profit across high dividend yield stocks, ETF and equity during this red season in the market But the truth is that you cannot do that without a tested trading strategy
@@margaritasbunny Inflation is over 8%. The stock market is down 20% this year. Keeping my money in bank could be no good but investing is riskier, I wish to find better value deals as asset prices keep decreasing but lack the skillset, mind if I look up your advisor? I admit this is the only way for amateurs like mys
Most interesting thing is till now the debt of USA is collectively shared by world which would be overcome by de-dollarisation.
Hahaha 😂 everyone chips in with their US dollars since USA is the best.😂😂😂
@@catrojana3694 hha hha in 2012 the US dollar share in global economy was 83 per but it's just 56 per in 2023 , so just wait and watch 🤣🤣😁👍
@@catrojana3694 wHAt aRe YoUr PrnOUns?
@@bhaviksharma1856 I think their share dropped to 47% and still dropping. 🤣
One fact most ignores is that de-dollarization is a win for Americans. Production will come back to US, as it was before. It's just the stupid government (run by seniors) who still cling to be #1
Well explained, as usual. The US government is not operating according to the will of citizens. Citizens have been ignored for a many years, with the government operating independently using policy stated to be necessary due to terror threats and made under duress going back to 9/11, COVID, etc.
Looking back at covid, i now laugh at the NYT, guardian, BBC etc for publishing anti india articles becaused we didn't purchased the pfizer venom.
@@hemarawat5307 the US would still be planning it's regime change operations against India even while they are under such debt
Here’s the big picture:
Former US top strategist Zbignew Brzezinski said: “It is IMPERATIVE that no Eurasian challenger emerges capable of dominating Eurasia and thus also challenging America”. Because the US has just 4% of world’s population, and it’s isolated from Eurasia which has 70% of world’s population, or 87% with Africa included. Defensively, it’s a benefit to the US, but economically, it’s a handicap. That’s why, Eurasia is a rival to the US and the Euro a rival to the dollar.
How the US with an isolated 4% of world’s population stays a world hegemon? The dollar must stay as the world’s reserve currency. This allows the size of the US economy to be highly scaled up, instead of being limited by the fundamentals.
To be the world’s reserve currency, the dollar must circulate in the world. The US created a huge consumption economy and moved manufacturing outside, so that dollars flow out of the US to manufacturers like China or Japan. To make products, China & Japan need energy. So dollar is then circulated to Saudi mandated by the Petrol-dollar scheme. With the US stock and financial market much more lucrative than others, the dollars from Saudi are attracted back to the US. Money printed in the US to exchange for goods from outside ends up in Wall Street, where the rich gets richer. And that completes the cycle of circulation of the dollar.
If China or Japan brings back all the dollars and exchange to their local currencies, it inflates the local currencies, making their exports expensive. So, China & Japan use some of the dollars to buy US debts (Treasury Securities). That’s why the US, a rich country, is in-debt to China which has just 1/5th of the US’ GDP/cap. By holding US debts, China & Japan have to support the dollar.
Since the US’ debt is in its own currency, it can simply print more dollar to pay interests. Other countries have to earn dollars to pay their debts, failing which results in defaults.
In 2011 Obama announced “Pivot to Asia” to stop China’s rise. In 2013 China responded with the Belt and Road Initiatives (BRI) and diverted US debts into BRI projects, to avoid keeping all eggs in one basket. The BRI creates new economies, hence new trade markets for China.
If Asia & Africa develop, the share of the US’ economy shrinks, then Euro could replace dollar as the world’s reserve currency. Then the US would no longer be able to print money freely without a hyperinflation like in Venezuela. And the size of the US economy has to fall back to the fundamentals, which is a lot smaller than the inflated economy. That’s why no country in Eurasia is allowed to catch up with the US’ economy. When Japan was catching up fast on the US in late 80s, it’s knocked down to a 3-decade stagnancy by rising Yen (Plaza Accord). And in the last 30 years, the US created wars and color revolutions in the Middle East, Central Asia & Africa to destabilise Afro-Eurasia, and the World Bank & IMF keep them poor.
As the US prints excessively, other countries’ dollar reserves shrink. Furthermore, to prevent exports to the US becoming expensive, these countries have to print money too, which devalues the savings of the people and causes inflation. It’s estimated that our savings devalue by 6% per year after the abolishment of the gold-backed Bretton Woods system, after which the US prints money based on just the creditability of the dollar.
Free money allows the US to have a big military, and the big military in return, protects the dollar.
The US had no mercy on threats to the dollar:
* In 2000 Saddam Hussein said he would sell oil in Euros not Dollars.
>> Saddam was hanged by the US.
* In 2009 Gaddafi wanted to make Libya export oil in pan-Africa Gold Dinars, not in dollar or Euro.
>> Gaddafi was killed by US & Sarkozy-backed NTC.
* Iran has been trading oil in currencies other than US dollars since 2011.
>> Iran was sanctioned by the US.
* After being sanctioned in 2014, Putin started to trade in non-dollar. By 2019, Putin: (1) completely ditched dollars in oil trades, (2) sold almost all US debts, (3) is now the forerunner in de-dollarization.
>> The US tried to topple Putin by supporting Alexei Navalny, sanctioned Russia, and now the Ukraine war to weaken Russia.
* China: (1) created the BRI, (2) uses non-dollar in oil trades with Iran & Russia, (3) created the CIPS, an alternative to the SWIFT system now weaponised by the US for sanctions, (4) economy and high-tech are catching up fast.
>> The US started a hybrid war against China: Trade war in 2018. Hong Kong color revolution in 2019. Tech blockage (Huawei ban, EUV banned from ASML). Got Australia into a trade war with China in 2020. Created “Uyghur Genocide” & “Forced Labor” propagandas against Xinjiang (XJ), which is the hub of the BRI, to cut off the BRI. Sanctioned goods from XJ to create joblessness and uprising against the gov. After XJ was stabilized by China, the US orchestrated a coup in Kazakhstan in Jan ‘22, located right next to XJ, to cut off the BRI. In Aug ‘22, Pelosi visited Taiwan to provoke a civil war.
If a country supports the dollar, it is looted by the US; if a country doesn’t support the dollar, the gov is changed by the US. This is financial slavery.
The US can’t have direct wars with Russia and China as they are nuclear armed. Proxy wars put the battlefields outside of the US, and also allow the US to disguise as an outsider. In the 1980s, the US supported the Afghan Mujaheddin in a similar proxy war against the USSR.
Russia and China have clear redlines (*Russia: Ukraine a neutral buffer + Ethnic Russian’s safety in Donbas. *China: “One China principle”). The US used its proxies in Kiev and Taipei to step over the redlines to provoke wars, and got its allies to support the wars.
After the Maidan coup by the US in 2014, Ukrainian army began shelling ethnic Russians in Donbas. It subsided after Minsk agreements in 2014/15, but as disclosed by Poroshenko in June ‘22, and by Merkel & Hollande in Dec ‘22, the Minsk were intended to buy time to arm Ukraine against Russia, not to seek peace. The US occupied Afghanistan for 20 years, but it finally left in Aug ‘21, evidently to prepare for the Ukraine project 6 months later. In Sep ‘21 Zelensky visited Biden to get support to join NATO, and shelling in Donbas by Ukrainian forces up 2800% since 16 Feb ‘22 (OSCE data), crossing Putin’s redlines and provoked the war. Pelosi visited Taiwan in Aug ‘22, after which China surrounded Taiwan with battleships.
Historically, the US’ strategy against China-Russia has always been “one at a time” to avoid pushing them together. The move to put Russia forward amidst the on-going hybrid war against China, was due to a major development:
The Fed has issued 80% of all US dollars in market in just 24 months. There was $4 trillion in circulation at the beginning of 2020. The number reached $20 trillion by Oct ‘21, amounting to a 31 trillions debt. Coupled with a global move to diversify into non-dollar reserves fuelled by US sanctions & dollar’s creditability, the US economy and the dollar are in a crisis.
The US proxy war in Ukraine:
1.Strengthened the dollar by weakening Euro. Only twice in history dollar is above Euro, both after a war in Europe: NATO's bombing of Serbia in 1999 (2 months after Euro became the currency of EU) and the Ukraine war. A strong dollar and the Fed’s timely interest rise, created a giant magnet attracting capitals from all over the world into the US.
2.Divided Russia from Europe. As the first NATO chief, Hastings Ismay described NATO’s role: “To keep America IN, to keep Russia OUT, to keep Germany DOWN”. NATO also allows the US to station missiles in Europe, keeping the US safe across the Atlantic.
3.Halted Nord Stream 2, and German firm Energie Baden-Wuerttemberg signed up gas from America Venture Global LNG for 20 years. >the US wrestled from Russia the control of energy to Europe. As George Friedman of US think tank Chicago Council OGA said in 2015:”The US’ primary fear is the combination of German technologies and Russian resources”. And Condoleezza Rice said in 2014:”You (Europe) want to depend more on the North American energy platform, the enormous bounty of oil and gas we’re finding in America, not on pipelines through Ukraine or Russia.”
4.Pushes industries back to the US soil by de-industrializing Europe, as indicated by: (i) The US’ sabotage of N.S. pipelines and US gas sold 4x the price, (ii) The US’ proposed sanction on Algeria after Macron visited Algeria for a gas deal in Aug ‘22, (iii) The foiled sabotage on TurkStream pipeline which feeds Russian gas to Europe via Turkey in Oct ‘22, (iv) The US’ Inflation Reduction Act in Aug ‘22 which pulls capitals from Europe.
Note: The US already bagged TSMC of Taiwan.
5.Created continuity for the Military Industrial Complex after Afghanistan.
Despite the self-damage, the EU still gives unconditional support to Ukraine. In fact, two European countries (Ukraine and Germany’s N.S.) were attacked in 2022, NATO helped Non-Ally Ukraine, but Ally Germany was ignored. There are 4 other wars going on, e.g. the Yemen war which killed half mil ppl and starving 16 mil. No one cares, because Saudi is an ally, and the war was lobbied by Raytheon. It’s NEVER about justice. Boris Johnson visited Kiev 3 times, to stop Zelensky from peace talk w Russia. Leaders in Europe, the Transatlantics (elites loyal to US), are pinning hopes on Ukraine defeating Russia to say job done to Washington. Zelensky is advertised a hero to get public support.
The US is pushing Europe and Asia into wars. Remember after WW2, Europe and Asia were devastated, but the US emerged from the Great Depression, became the world leader and the dollar became the world’s reserve currency.
Can you tell what will america's stragegy for china?Is America trying to eliminate compeititors by waging a war against china and India?
Agree with everything you write. But, since Saudi Arabia wants to join BRICS alliance - among almost 50 other countries - there is no longer a petro dollar. Countries are already buying their oil in their currency or any other currency. BRICS currency is going to provide great alternative to the dollar because it is commodity backed. So, I hope we can establish a more just world in the near future.
Wow! Such a long but instructive post! You seem to have mastered the topic!👍
Exactly. Thanks for complete answer. Also note that Europe's debt to USA for the "generous" Marshall Plan to rebuild after WW2 has only recently been paid off.
@@fs203tusharchandaliya4 yep. Maintain dominance.
Amit! You used the term "open market operations" but nobody knows what it means, or why it was almost never used until the 2008 crash.
Open market operations has always been reserved only for very short-term use and only in extreme emergencies.
But it has been continuously in use now since 2008 -- under the name "quantitative easing" to hide what is really being done.
Can you please make a short video on Open Market Operations? And why it is so dangerous, and counter to all laws of classical economics?
Or whether it signals a complete change in our understanding and use of money...
Thanking you in advance!
Sir....your level of knowledge and clear concept is outstanding...never stop this journey of sharing knowledge for welfare of students...thanks....
Seems like they will print more money and that will lead to more inflation.
Affects India too as INR is pegged with USD
Can they print their way around the debt ceiling? Sounds unlikely
@@davidalexsebastiank6250 All currency will face it even Yuan
@@davidalexsebastiank6250 isn’t every currency pegged to the usd one way or the other? Especially when it come to determine currency values?
@@louise_rose just raise the debt ceiling just like the previous 160+ times their Congress had approved since 1960.
The day before the ASEAN community declared that they would settle debts between countries using their own currencies - NOT the USD.
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7:25: I love how the symbol of democratic party: Donkey
That’s what they are actually.😅
@@Aashu299 Don't insult donkey!
This crisis is typical of any borrower, be it an individual or a nation. When the borrowed money is not used productively and doesn’t generate revenue this bound to happen. Like Karma, debt also catches up.
Thank you Mr Sengupta for enlightening us.
Don't worry. Previously also US has increased its debt ceiling numerous times. This time they will do the same
Not worry at all, just waiting and see how the bully becomes shit at the end❤😂😂😂😂🎉🎉🎉
Maybe. If the Democrats & Republicans do not come to an understanding, then we will hit this limit and go in recession. *anything can happen in the USA*
The difference between this situation and most other countries is that this would be a *self-imposed recession/depression*
It is getting more and more embarrassing for the west.
Nope, not the west, US and allies in general. See poland, she's well stabilised.
Here in Australia, I see the headline: "Whole world will suffer if USA defaults". I recognise the typical egoistic narrative of America's own self importance at play.
I ponder: Is this just a scare psyop to force Congress to raise the debt ceiling (which is what always happens -- 78 times since 1960); and/or just a lot of media hot air; and/or a psyop to raise global sympathy and readiness for a new global crash which will, somehow, in the end, only benefit the American money elites.
I open the article to see in what ways "I" -- as one of the people included in The Whole World -- might personally suffer from America's mismanagement of its own economy since this last happenned (2021).
The writer, a top national economist, outlines how "credit will become much harder to get" and how local interest rates are "absolutely sure to rise" -- despite the fact that "Australia is NOT IN DEBT and has a current account SURPLUS". Hmmm, how can a bankrupt USA hurt a solvent Australia, I think?
As someone with no mortgage, no credit cards, no personal debt, who lives happily on their income, I have a little chuckle, roll over, and go back to sleep. Pft, prices might go up a bit, but only because retailers will opportunistically price gouge, as they do.
Bring it on, I say. The credit junkies can all go down with Big Daddy Dollar. Their stupid fault -- just like the US -- for living beyond their means.
It's all just a little game the Uniparty and the Fed play every now and then while Rome burns.
the Australia will take on debts to pay for $368B submarines deal.
@@lientruong2500
Quite true, from a government pov. But the ones who pay most for the government's external globally borrowed money are the mugs with locally borrowed money. That was my point. Most of world's finances run on credit and voodoo accounting. THE BEST PROTECTION is not to live on credit.
Using currency as a weapon should be one of the important reasons for de-dollarization.
Brandon has no time for QUAD but has time for G7. India should learn fro this where his priorities lie.
👍👍👍👍
Brandon? Who's he?
@@varuns7284 Joe biden
Well
When the Quad becomes "The Triad" it sort of just have a bad ring to it...
Sensible to cancel BUT NOT FAR ENOUGH
Why not just abandon the whole Quad concept, not just the summit...
@@varuns7284 its a negative jibe against his drug addicted pedophile son the brandon files on jeffrey epstien's island of pedophilia
Thanks ,the Best CZcams channel for Geopolitical news and development.
Thank you very much brother, you always give us a very clear analysis which is an easy to understand 👍🇰🇭
Your videos are very concise and explain the topic very well. Keep it up!
Very informative and straight to the point. Thank you
Broke it down into nice bite-size chunks. Thank you
So well explained... thank you sir🙏
Just six months back i was telling myself US will come the point where they can't repay the loans 🤣🤣 ayyo US US
Always infomative ,my favourite channel.
Thanks. very informative.
Very very informative
Precise data
Thanks for upload
Very very informative! Thank you 🙏
Very well explained thank you
Dedollarisation is a great idea it seems both from economic and political angle. I have always been thinking about it.. finally the world is doing this .. US hegemony will break and the world will be a more democratic place
Reality is very different even it would trigger a war with usa
Thanks for the video
Sir ...I wanna see ur whole setup for making this type of beautiful videos...plz make a vlog ..love u sir ❤
You go from factual description to speculation on economic crisis in US. Curious to see how this unfolds. Great job anyway!
well articulated amit!!!
Love this video. Thank you for highlighting the truth and educating us!
I was waiting fr Amit sir to explain finally did 🙌
Thanks well explained
Excellent analysis
Thank you sir for the information.
Please keep making video on current affairs. You explain everything very nicely.
Thank you amit sir🙏
Very much informative 💯
Thank you Mr.. for another well explained video. Always a pleasure to hear.
His name is Amit Sengupta.... Next time when you watch his videos, remember it
I hear all this talk of de-dollarization, yet whenever I look at USD vis-a-vis most other currencies, it seems either stable, or strengthening, even over greater or lesser timescales, like five years, one year, one month, etc.
De-dollarisation won't happen overnight it'd happen gradually with small agreements between many countries consequently leading to the fall of Dollar
Stay in Denial 💲
neat explanation. keep it up.
Thank you
Good video!
When I see Amit videos I stop everything I'm doing and listen to my my favorite analyst
Thank you Sir❤
Nice explained 👍
I love the way this teacher explains thinks
On the positive side, US has built an ambition for other citizens to live in their country. That has to be appreciated,
However, the world will be a better place to live, if US starts focusing on its internal affairs and stop meddling in the affairs of other countries. Recently, US was budgeting to establish democracy across the world despite the human rights violations by its own machineary like police against Blacks.
Brandon let's in the illegals as they provide black market slave labour - good for the economy as long you can keep hidden the illegal workers, cleaners, cherry pickers ... farmers and small business owners need them.
In expenses of the lives of Indigenous American (red Indian) , by employing slaves from Africa.🙏
Ya its said khud ki pao mei ohud kulhari marna
The US is a fvcked up society.
of course it will get other countries citizens to their country
1. to change demographic and votes in states as they want
2. to increase the net people whose generations will grind and grind underneath the huge debt.
so basically the "AMERICAN DREAM" is this - immigrant sees the "development" to be a part of, without realizing that they want a better future for their children and it is the exact opposite their children will get. NO cultural roots away from their homeland, NO shield against the WOKE AGENDA being disseminated at large in the name of "PROGESSIVE liberalism" and drug haven america has become.
at this point, i am like, WHO wud go to america especially after 2020 AND WHY?? aren't they seeing reality??
It’s cancelled because India wouldn’t stop buying Russian crude oil. Better still Australia couldn’t stop buying Chinese products. Better still, the Indians are doing business with Russia outside the American dollars. Australia maybe forced to buy Chinese products in Yuan or Brics currency soon.
great video btw, can you make one about why the usa has only 2 parties' system?
Great report as always. Thank you.
Best explanation ever
Thank you very much, I live in America and you explained some things about the debt of America that I did not know,
Biden is busy calling out WhITe SupREmacY.
Crystal clear ...Inspirational personality you are, ..Thanks
I love ur vdos please make vdos like this more often and longer
🙏 thank u sir
Always knowledgeable. Thank you Amitji. And I hope god helps the dollar value to be equal to zero.
Thankyou sir ❤
0:08 mpd 4:36 chk
A very complex matter but your explanation has helped me understand the issue a bit. 👍🏽👍🏽
Good Evening, Sir.
when it comes about gyaan and perspective. Two people come into mind JSD sir and AMIT sir
Amit sir >>>>>
Who is JCD Sir?
@@sahashranshubarik9204 may be he is talking about Jai sai deepak ….
@@shashisuman5599 yes j sai deepakji
@@Rammohammadsingh get help asap>>>>>>>
ONE OF MY FAVORITE CURRENT AFFAIR CHANNEL
You should question your assumption that *every country wants to develop.*
Not necessarily. It depends how and at what cost, especially to the environment. Development has been mantra for the past century, but what does it really mean? One thing is clear, no country can develop without access to abundant, cheap energy.
Jai guru good evening sir bahumulya video 🙏
I ain't watching the video cuz I don't have earphones with me😂 ur voice is addictive man
Good 👍
Sir, what is your view on Russia saying we have so much Indian Rupees but we can't make use of it. Can you give a solution. Thankyou in advance.
So in simpler words. He canceled it. Because he can’t afford to go. Like majority of us. He is broke.
Hi
Can u make video India-Russia trade issue currently ongoing.
Amit,
This debt ceiling Tamasha has been happening for decades. They will just reset their debt ceiling after both parties agree on how they will get money in their coffers. Then they will just print more money...its all paper and electronic at the end of the day.
but how WILL they get money in their coffers? dollar's world presence/relevance/dominance is on IRREVERSIBLE DECLINE. the writing is on the wall.
so, HOW??
@@ranirathi3379 Don't believe the stories. If you are given the choice to live in China, eat Chinese and use Chinese money versus live in USA, eat US food and use dollars what will you do?
All this dedollarization nonsense will lead to nothing. There are no good alternatives and dollars will be around for quite a few decades.
@Kraken Thunder bull shit. They have no choice and will soon raise the debt ceiling. What else can they do?
@Kraken Thunder meanwhile China is also trying to export their internal debt 😅
India should focus on RIC GROUP instead of irrelevant quad
BRICS
@@Whatis2468 if ric is solved half world will follow it
And us will be jealous
The US national debt is more than $31 trillion, with 38% of it held by foreign entities. The US also has $38 trillion in unfunded Medicare liabilities and $17 trillion in unfunded Social Security liabilities.
The US dollar is the dominant reserve currency, backed by its perceived strength, allowing the US to print unlimited dollars as long as the world maintains trust in it. The US dollar is the backbone of US power, and any actions that undermine confidence in the currency threaten to destabilize its position of dominance. Each unilateral sanction imposed by the US risk damaging the stability and credibility of the US dollar, leading to dire consequences for the nation's power and influence. The US is the only country actively undermining the strength of the US dollar. The freezing of Russia's $300 billion currency reserve by Western governments may lead countries to reconsider investing their funds in US Treasury bonds.
A significant portion of US dollars is held outside the US, estimated at 60-70% of all US dollars in circulation, due to its status as the dominant reserve currency and wide use in international trade and finance. The one trillion dollar trade deficit of the US is a consequence of being the reserve currency, as a strong dollar makes it difficult for US businesses to export goods and services while simultaneously making it easier for other countries to sell to the US. Countries are shipping goods to the US in exchange for green pieces of paper.
The US budget deficit is $1.38 trillion in 2022 which must be paid for by selling more Treasury bonds. The interest on this debt is greater than the military budget. To pay the interest on its debt, the government sells more Treasury bonds, leading to a cycle of increasing debt. The US printing of dollars has been exporting inflation in other countries for decades, but will eventually increase US inflation. Raising interest rates to fight inflation decreases consumer and business spending, increases the trade deficit, and higher interest payments on government debt. Other countries will respond to the US raising of interest rate by raising their interest rate, risking global recession. The Plaza Accord addressed this issue in the past, but it will be challenging to implement such measures now.
A well-run country collects taxes to fund essential services and infrastructure. In the US political system, wealthy corporations and individuals can lobby for tax breaks. The shortfall in funding for the US government has reached $31 trillion. Instead of collecting taxes from wealthy corporations and individuals, the government pays interest to them.
Banks hold Treasury bonds for their safety, liquidity, regulatory compliance, and potential profitability. When interest rates on Treasury bonds rise sharply, the decrease in bond values reduces liquidity and makes it harder for banks to raise cash quickly. This causes depositors to lose confidence, triggering a bank run. In response to the current bank run, the government is issuing Treasury bonds to raise funds to compensate depositors for any lost funds. There are $19 trillion in deposits in US banks. The estimated unrealized loss on these treasuries is $1.7 trillion. The total size of US banks' equity is $2.1 trillion.
The new Bank Term Funding Program (BTFP) help prevents discounted bondholders from taking losses when they have to sell them urgently. The BTFP accepts discounted bonds at face value to be used as pledges for loans to inject more money into the economy. More inflation.
It's a Ponzi scheme.
Stupendous explanation ❤❤😍😍
India should only humor QUAD I think, India's future should be for India, not for America or anyone else.
Can you comment on what Lavrov said recently that even even tho Russia settles in rupees, there’s not much that it can use it for?
Ty
Excellent information/analysis, Mr. Sengupta! I also totally agree with you. Thank-you!
Has to be addressed still top of ten at the moment but don't forget history and Roman empire and stuff don't let it go that far
I have seen coverage of this regularly occurring problem in the U.S., my native country, since I was a child, in countless venues, from TIME and NEWSWEEK Magazines to BBC to CBS, NBC, and ABC and CNN. But this, plus the similar coverage in the video by Wion, is the first time I've seen it covered from a non-Western international perspective, that includes comparison with the situation in other countries. So thanks for this astute analysis!
Your media is more interested in covering ukraine to shield biden govt from this big internal matter being discussed.
Sir please make a video on QUAD, Japan...
Tiwan crisis is going to be make or break for democracies.....
Thank you Amit...I am a US citizen and it is sad to watch how my government is broken...I will be voting for Donald Trump again in 2024 to make things right...
I found your video informative...
J
Reason, RBI sell dollar 💰 in foreign exchange market to give unprecedented profit.
waiting for video regards Sri Lankan debt
We work for years to have , $1million while some people I know put thousand of dollars in some meme coins and they become millionaires.
The thing about been successful is working toward it and not going the other way round
Just hope BRICS will hurry up with dedollarization!!!!!
What are specifications considered before setting debt ceiling?
@6:20 US policy taken fwd
4:15 why is Dr Sturgis in your video?
Why to cancel why not postpone...plz clarify Sir
Impeccable logic as always by the inimitably Scholastic Mr. Amit Sen Gupta 🎉