Rebel Capitalist, George Gammon, has a YouTube channel with massive hits. He is generally seen as financially conservative, not apocalyptic, despite the name. But in his latest take he says that the chances of a US default have astronomically increased. What this means is that given US debt underpins the entire global money system, if there was such a default, at dinner time the question asked will be, honey, not what’s for dessert, but, where is our next meal going to come from; and, let’s prepared to adjust our life style to something like the medieval period. He says words to that effect. And, he says of the globalists, such as World Economic Forum types: “We want Armageddon, but not this much Armageddon!” It is like an arsonist, who starts a fire, but finds, that it quickly got out of control, and his escape path is now ablaze too, and that there is no exit.
How likely is such a default? The end of the US petrodollar would fuel this, along with the fast emergence of an alternative trading regime, based around communist China, thus cutting down the present strategy of letting the printing presses run red-hot. I simply do not know if Rebel Capitalist is right, but this has been in the air for some time. Hopefully this is wrong, but as always, best to put away some extra toilet paper, and tins of baked beans. Maybe some clean water as well, just in case. As always see the video and make up your own mind; I am, after all, no expert on this, or anything for that matter.
https://www.youtube.com/watch?v=ZYI16oBRheU
The debt limit has been raised to prevent such a default, so presumably this will be done, until it is no longer possible to do so:
https://www.breitbart.com/politics/2023/04/27/white-house-slams-house-gop-for-not-avoiding-default-after-gop-passed-bill-to-avoid-default/