As governments of all levels in nearly every nation have removed all the brakes on the debt engine, there are plenty of us wondering how and when the end game will occur. Many believed that the implosion should have happened long ago, but as Keith Weiner, CEO of Monetary Metals, explains in this op-ed, fiat dollars have a very captive audience, like it or not. Although the analysis refers to the debts of the United States, rest assured that Canada is in a much deeper hole.
Leaving aside that there is no political will to even attempt [to pay off the debt]—most people seem happy to borrow more to spend more—it isn’t even mathematically possible.
If you can imagine them you can “electronically print” them.
It’s imaginary freedom, with imaginary $money$, in an infinitely elastic quantum orthogonal world debt vortex.
Don’t have money to pay the interest on the debt; no worries just print some more.
Fiscal prudence isn’t anything any politician is running on; around the entire world at the moment.
It is simply “Toy Story” economics:
“TO INFINITY AND BEYOND!”
Cheers
Hans Rupprecht, Commander in Chief
1st Saint Nicolaas Army
Army Group “True North”