We’re at a point in American history where the country is run pretty much exactly like Venezuela:
The central bank prints money and the government nationalizes everything.
This gives rise to the question… Why hasn’t America collapsed under the weight of hyperinflation like Venezuela did? Answer: America has the benefit of being able to export all of the money that gets printed by the government.
Venezuela doesn’t have that benefit.
Incidentally, the petrodollar is why Venezuelan president Nicolas Maduro finds himself in the reticle of our deep state and the central banking system to which it is beholden. From the perspective of the permanent war establishment in Washington, Maduro’s willingness to sell oil for non-dollar currencies must be punished before he inspires other countries to do the same.
If future demand for dollars were to collapse on an international scale (and it might given the record pace at which foreign countries are dumping American treasuries), American bureaucrats wouldn’t be able to stave off the inflationary effect of printing money by sending it overseas. Our likeness to Venezuela will become readily apparent at that point. Our grocery stores are already starting to resemble theirs.
This is EPISODE 403 of So to Speak w/ Jared Howe!