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The US economy and de-dollarization

May 10, 2024 — BarryK

The last political post to this blog was in August 2023, and a little bit before that I puzzled over why the USA hasn't become bankrupt:

However, there was a more recent post about spin in YouTube channels that touches on international politics:

I'm still immensely puzzled over how the global economy works, and in particular how the USA survives given the huge foreign debt and budget deficit that just gets bigger year after year.

I've taken to watching Lena Petrova. She is a Chartered Accountant, so does have a few clues about what is really going on. She is predicting, basically, that for ordinary Americans there is going to be a steady decline in their buying-power, also infrastructure will continue to crumble, and social services will dry up.

A big question; do the leaders in the US Government understand the economic dangers they are facing? Lena posted this quite shocking interview with Jared Bernstein, the President's chief economic advisor:


I don't understand everything she says, but do try and pick up the salient points. I never came across her predicting a marked collapse of the US economy, or maybe I missed that video. However, recently she posted a talk by a Chinese economist, that not only predicts likelihood of financial collapse, but also sets a date; about 4 years from now.

Hmmm, I can't find that video. The talk is probably still there in one of her videos. What particularly interested me about the talk were the factors that might affect the outcome of the US economy; he said it depends on the the ability of the US to continue to "harvest" foreign countries.

That word "harvest" is startling. But yes, that is how the US survives, or so it seems from my understanding so far, the Dollar being the main medium of international transactions. Many countries and foreign entities are trying to de-dollarize international transactions.

On the topic of de-dollarization, here was another video, Lena again I think, quoting what Donald Trump will do if he becomes president. He has stated that he will go all-out to sanction any country that tries to de-dollarize. Found this though, from Palki Sharma:

There is something else that shocked me a little bit, though it shouldn't have. I have posted previously that George W. Bush committed war crimes by invading Iraq under the false pretext of "weapons of mass destruction". After that, amazingly, he got re-elected, which spoke volumes about the lack of truth in US media. Anyway, President Bush covered himself from being charged with war crimes by the International Court in Brussels:

...yikes again!

You might have contrary viewpoints to what is presented above. OK, I'm just posting this as something to think about, viewpoints that are probably different from what you get in the mainstream media.

EDIT 2024-05-11:
I found a YouTube video where that Chinese economist is giving a 4 year timeline for USA economic collapse, subject to various conditions:

While searching for it, I stumbled across "Double Down News" channel. This Australian guy is posting how the Prime Minister of Israel, Netanyahu, was caught telling lies to President Biden, that Biden then repeated publically:

Reminds me of another Aussie guy, Jerry Grey, residing in China, who has "Jerry's Take on China" channel. He got upset by ongoing Western media misinformation about China, so started the channel.

He counters the many who have accused him of being a "Chinese shill" on the pay of the CCP: 

EDIT 2024-05-17:
We have to be so careful; take everything we read and see online with a grain of salt.

I received an email from Paul. He carefully studied the video of the interview with Jared Bernstein, frame by frame, see Lena Petrova's video link above. He determined that it is clips cut out from some longer interview. It seems these clips have deliberately been done to show Mr Bernstein in a bad light.

I found a video where a guy said that yes, that is what has been done. However, I have not been able to locate the original longer interview.

The clipped video went viral and Lena found it somewhere. She has used it, which somewhat lessens my opinion of her. She doesn't show sources either.   

Tags: ethos