Default/debt crisis is inevitable
I see this almost every time I post something about America's economic predicaments. And yes, it is inevitable. But I want to emphasize, and I keep emphasizing it, that it will not happen tomorrow.
The USD is still the standard reserve and payment currency around the world. As long as that is true, none of these lines on graphs matter much. Now, the share of the USD in circulation is getting lower. Very slowly, but it is. That means those dollars are coming back to the US and the supply becomes larger while demand becomes lower. The process is very gradual.
I'm saying this because I don't want anyone to hold illusions about an imminent collapse. There will be one, yes. And yes, it's inevitable. And holy shit will it explode when it does. But it'll take a while.
On the other hand, no one really knows. And I do mean that. The financial "experts" are consistently wrong about pretty much everything, so their guess is as good as ours.
@americanmajority
I see this almost every time I post something about America's economic predicaments. And yes, it is inevitable. But I want to emphasize, and I keep emphasizing it, that it will not happen tomorrow.
The USD is still the standard reserve and payment currency around the world. As long as that is true, none of these lines on graphs matter much. Now, the share of the USD in circulation is getting lower. Very slowly, but it is. That means those dollars are coming back to the US and the supply becomes larger while demand becomes lower. The process is very gradual.
I'm saying this because I don't want anyone to hold illusions about an imminent collapse. There will be one, yes. And yes, it's inevitable. And holy shit will it explode when it does. But it'll take a while.
On the other hand, no one really knows. And I do mean that. The financial "experts" are consistently wrong about pretty much everything, so their guess is as good as ours.
@americanmajority
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The American Majority
Default/debt crisis is inevitable I see this almost every time I post something about America's economic predicaments. And yes, it is inevitable. But I want to emphasize, and I keep emphasizing it, that it will not happen tomorrow. The USD is still the standard…
That being said, the writing is on the wall and it's pretty obvious. The baksheesh sent to all our "allies" should be returned as soon as possible. The moment the pyramid of shit falls apart, anyone caught inside the USD system is going to get royally fucked.
So why aren't people withdrawing from it? Well, they kind of are. Why not more? Because the empire is pretty good at forcing countries to use its shitty fairytale currency through coercion, blackmail, and war. Also, the people making decisions won't be the ones to struggle when shit hits the fan.
It's pretty much a case of "being a friend to the US is suicidal, but we won't be the ones to die when it comes to it and it's profitable now." But there are exceptions. Those exceptions will keep corroding the system. Bit by bit.
@americanmajority
So why aren't people withdrawing from it? Well, they kind of are. Why not more? Because the empire is pretty good at forcing countries to use its shitty fairytale currency through coercion, blackmail, and war. Also, the people making decisions won't be the ones to struggle when shit hits the fan.
It's pretty much a case of "being a friend to the US is suicidal, but we won't be the ones to die when it comes to it and it's profitable now." But there are exceptions. Those exceptions will keep corroding the system. Bit by bit.
@americanmajority
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USS George Washington arrives in Middle East to relieve USS Abraham Lincoln after lengthy deployment
...The USS George Washington, which had been operating in the South China Sea, is expected to relieve the USS Abraham Lincoln following months of deployment in the region amid the ongoing tension with Iran.
The Lincoln's lengthy deployment has sparked concerns regarding the carrier's conditions onboard and the sailors' welfare. Families of crew members have expressed worry about mental health struggles sailors have been experiencing.
CENTCOM Commander Adm. Brad Cooper visited the Lincoln recently and acknowledged that long deployments bring unique challenges. However, he praised the crew for "their camaraderie, teamwork and resilience," while noting that the carrier maintains relatively low reported mental health cases across active fleets...
New toilets have arrived!
@americanmajority
...The USS George Washington, which had been operating in the South China Sea, is expected to relieve the USS Abraham Lincoln following months of deployment in the region amid the ongoing tension with Iran.
The Lincoln's lengthy deployment has sparked concerns regarding the carrier's conditions onboard and the sailors' welfare. Families of crew members have expressed worry about mental health struggles sailors have been experiencing.
CENTCOM Commander Adm. Brad Cooper visited the Lincoln recently and acknowledged that long deployments bring unique challenges. However, he praised the crew for "their camaraderie, teamwork and resilience," while noting that the carrier maintains relatively low reported mental health cases across active fleets...
New toilets have arrived!
@americanmajority
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Yemen announces new attacks on Saudi Aramco facility, "sensitive site" in Najran
The Yemeni Armed Forces (YAF) released a statement on 20 August announcing new military operations against Saudi Arabia, targeting an Aramco facility and an airport in Najran province.
The YAF said it "carried out two military operations using two drones." "The first targeted a sensitive target belonging to the Saudi enemy at Najran Airport, while the second targeted Aramco in Najran. Both operations successfully achieved their objectives, by God's grace," the YAF declared. The operations came in response to "Saudi violations of Yemeni airspace" over Saada.
On Wednesday, the Ansarallah led Yemeni army released an infographic and a statement detailing recent operations targeting Saudi maritime assets, in line with the naval blockade launched in July...
I don't know about you guys, but I'll be honest, I'm losing track of the fighting a bit.
@americanmajority
The Yemeni Armed Forces (YAF) released a statement on 20 August announcing new military operations against Saudi Arabia, targeting an Aramco facility and an airport in Najran province.
The YAF said it "carried out two military operations using two drones." "The first targeted a sensitive target belonging to the Saudi enemy at Najran Airport, while the second targeted Aramco in Najran. Both operations successfully achieved their objectives, by God's grace," the YAF declared. The operations came in response to "Saudi violations of Yemeni airspace" over Saada.
On Wednesday, the Ansarallah led Yemeni army released an infographic and a statement detailing recent operations targeting Saudi maritime assets, in line with the naval blockade launched in July...
I don't know about you guys, but I'll be honest, I'm losing track of the fighting a bit.
@americanmajority
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US treasury chief claims Washington "unlikely to restart" large scale hostilities against Iran
US Treasury Secretary Scott Bessent told CNBC on 20 August that Washington will likely "not restart" large scale military operations against Iran, as the White House shifts to a campaign of maximum economic sanctions.
"If we are doing the maximum economic pressure, then that means that likely there will not be a large scale kinetic restart," Bessent said in an interview with CNB'’s Squawk on the Street news program.
Trump had announced hours earlier on Truth Social that Washington would impose major economic penalties on any country extending Tehran what he called "any type of lifeline."
"This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat," Trump wrote...
@americanmajority
US Treasury Secretary Scott Bessent told CNBC on 20 August that Washington will likely "not restart" large scale military operations against Iran, as the White House shifts to a campaign of maximum economic sanctions.
"If we are doing the maximum economic pressure, then that means that likely there will not be a large scale kinetic restart," Bessent said in an interview with CNB'’s Squawk on the Street news program.
Trump had announced hours earlier on Truth Social that Washington would impose major economic penalties on any country extending Tehran what he called "any type of lifeline."
"This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat," Trump wrote...
@americanmajority
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UN reports 94 percent of Gaza's population without proper shelter ahead of winter
More than four out of five families in Gaza are living in "critical or catastrophic" conditions, lacking fuel, energy, and essential household items under the ongoing Israeli siege of the strip, UN agencies and partners revealed in a report published on 20 August.
"These constraints affect people's ability to sleep, their ability to cook, their ability to wash, their ability to store food and water, maintain adequate lighting, and cope with heat and cold," UN Spokesperson Stephane Dujarric said.
The UN report found that 94 percent of Gaza's 2.1 million residents need shelter, with close to two thirds of families housed in tents or improvised structures built for temporary relief rather than long term use...
@americanmajority
More than four out of five families in Gaza are living in "critical or catastrophic" conditions, lacking fuel, energy, and essential household items under the ongoing Israeli siege of the strip, UN agencies and partners revealed in a report published on 20 August.
"These constraints affect people's ability to sleep, their ability to cook, their ability to wash, their ability to store food and water, maintain adequate lighting, and cope with heat and cold," UN Spokesperson Stephane Dujarric said.
The UN report found that 94 percent of Gaza's 2.1 million residents need shelter, with close to two thirds of families housed in tents or improvised structures built for temporary relief rather than long term use...
@americanmajority
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Iranian President advocates for ending war from position of strength
Iranian President Masoud Pezeshkian stated that the ongoing war being waged against the country by the US should be brought to a conclusion while Tehran maintains a position of "power and dignity," defending the administration's recent diplomatic understandings.
Speaking at an event reported by Anadolu Agency, Pezeshkian characterized the outcome of recent negotiations as a "major achievement" and an "honorable and valuable" agreement approved by the country's Supreme National Security Council.
Addressing critics, Pezeshkian emphasized that the text contains no provisions indicating surrender, noting, "They cannot find even a single clause in this agreement that indicates surrender; all the commitments are related to the other side..."
@americanmajority
Iranian President Masoud Pezeshkian stated that the ongoing war being waged against the country by the US should be brought to a conclusion while Tehran maintains a position of "power and dignity," defending the administration's recent diplomatic understandings.
Speaking at an event reported by Anadolu Agency, Pezeshkian characterized the outcome of recent negotiations as a "major achievement" and an "honorable and valuable" agreement approved by the country's Supreme National Security Council.
Addressing critics, Pezeshkian emphasized that the text contains no provisions indicating surrender, noting, "They cannot find even a single clause in this agreement that indicates surrender; all the commitments are related to the other side..."
@americanmajority
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Drop in Iranian oil offers to Chinese buyers amid US blockade
Offers of Iranian crude oil to Chinese buyers have experienced a significant decline alongside a sharp jump in prices, driven by the reimposition of the US blockade on Tehran's shipping and ports.
According to a report by Reuters, the restrictions have severely constrained shipments from Iran, which serves as a primary source of hard currency for the country.
Trade sources highlighted by Reuters note that offers for September and October delivery cargoes to China have decreased as existing barrels on maritime vessels are progressively sold off.
Furthermore, ship tracking data from Kpler indicates that Iran's overall oil exports have fallen since mid July, applying additional pressure on independent refiners in China's Shandong province who frequently process sanctioned crude...
@americanmajority
Offers of Iranian crude oil to Chinese buyers have experienced a significant decline alongside a sharp jump in prices, driven by the reimposition of the US blockade on Tehran's shipping and ports.
According to a report by Reuters, the restrictions have severely constrained shipments from Iran, which serves as a primary source of hard currency for the country.
Trade sources highlighted by Reuters note that offers for September and October delivery cargoes to China have decreased as existing barrels on maritime vessels are progressively sold off.
Furthermore, ship tracking data from Kpler indicates that Iran's overall oil exports have fallen since mid July, applying additional pressure on independent refiners in China's Shandong province who frequently process sanctioned crude...
@americanmajority
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Pyongyang dismisses Trump's "goodwill gesture," says military drills with Seoul "still provocative"
The Democratic People's Republic of Korea (DPRK) dismissed US President Donald Trump's move to significantly reduce joint military exercises with South Korea, while casting doubt on the president's claim to be in communication with the nation's leader, Kim Jong Un.
Kim Yo Jong, sister of Kim Jong Un, stated late Wednesday that the trimming of US South Korean military drills is "not even worth commenting on" and does not alter their "provocative and aggressive" character.
If Washington made the decision "as some kind of 'goodwill measure,' they will not get the answer they desire," she added.
The US and South Korea hold joint military exercises each year, known as Ulchi Freedom Shield, simulating an invasion of the DPRK...
@americanmajority
The Democratic People's Republic of Korea (DPRK) dismissed US President Donald Trump's move to significantly reduce joint military exercises with South Korea, while casting doubt on the president's claim to be in communication with the nation's leader, Kim Jong Un.
Kim Yo Jong, sister of Kim Jong Un, stated late Wednesday that the trimming of US South Korean military drills is "not even worth commenting on" and does not alter their "provocative and aggressive" character.
If Washington made the decision "as some kind of 'goodwill measure,' they will not get the answer they desire," she added.
The US and South Korea hold joint military exercises each year, known as Ulchi Freedom Shield, simulating an invasion of the DPRK...
@americanmajority
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Why the US cut military exercises in South Korea short
The US cutting drills short in South Korea isn't a sign of political pivot, but one of resource management as its wars against Russia, Iran, and preparations against China continue to accelerate.
The US knows North Korea is not a real threat and maintains troops in South Korea solely to encircle/threaten China.
Unless the US both pulls troops out of Asia AND ends its political capture of South Korea, Japan, and the Philippines - nothing is changing about US objectives, just the means through which it pursues them.
@brianlovethailand
The US cutting drills short in South Korea isn't a sign of political pivot, but one of resource management as its wars against Russia, Iran, and preparations against China continue to accelerate.
The US knows North Korea is not a real threat and maintains troops in South Korea solely to encircle/threaten China.
Unless the US both pulls troops out of Asia AND ends its political capture of South Korea, Japan, and the Philippines - nothing is changing about US objectives, just the means through which it pursues them.
@brianlovethailand
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China rejects US demand on Iran
Beijing has called for diplomacy after Treasury Secretary Scott Bessent urged countries to join Washington's economic campaign against Tehran.
...Beijing, however, has rejected Washington's call. "Regarding the Iran issue, sanctions and pressure do not help resolve the problem," Reuters quoted a spokesperson for the Chinese Embassy in Washington as saying. "China calls on the relevant parties to take responsible actions and resolve the issue through political and diplomatic means."
@americanmajority
Beijing has called for diplomacy after Treasury Secretary Scott Bessent urged countries to join Washington's economic campaign against Tehran.
...Beijing, however, has rejected Washington's call. "Regarding the Iran issue, sanctions and pressure do not help resolve the problem," Reuters quoted a spokesperson for the Chinese Embassy in Washington as saying. "China calls on the relevant parties to take responsible actions and resolve the issue through political and diplomatic means."
@americanmajority
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Forwarded from Information Liberation
I predicted over a year ago that Trump's "Golden Dome" project was just to help Israel.
Now, the Jewish Institute for National Security Affairs' (JINSA) new plan for the next US-Israel MoU affirms just that.
Israel wants to be "formally included" in the Golden Dome project, and they want us to pay them for the Iron Dome tech they developed with our money (our "greatest ally" calls this a "partnership").
Our defense industrial base is being designed around protecting Israel rather than the United States.
Now, the Jewish Institute for National Security Affairs' (JINSA) new plan for the next US-Israel MoU affirms just that.
Israel wants to be "formally included" in the Golden Dome project, and they want us to pay them for the Iron Dome tech they developed with our money (our "greatest ally" calls this a "partnership").
Our defense industrial base is being designed around protecting Israel rather than the United States.
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Forwarded from Information Liberation
The Israel Lobby's new list of demands just dropped:
🔺$40B from US taxpayers over the next 10 years (as a base)
🔺US establish a "permanent" military presence and CENTCOM operational HQ in Israel
🔺Formally include Israel in the Golden Dome
🔺Merge our defense-industrial base
🔺A "limited" US-Israel Mutual Defense Treaty (to "honor" the "memory" of Lindsey Graham)
🔺A new NATO where the US organizes/arms Arab states in defense of Israel ("Membership in such a security structure should be conditioned on Arab members normalizing relations with Israel...")
What does America get? The bill.
🔺$40B from US taxpayers over the next 10 years (as a base)
🔺US establish a "permanent" military presence and CENTCOM operational HQ in Israel
🔺Formally include Israel in the Golden Dome
🔺Merge our defense-industrial base
🔺A "limited" US-Israel Mutual Defense Treaty (to "honor" the "memory" of Lindsey Graham)
🔺A new NATO where the US organizes/arms Arab states in defense of Israel ("Membership in such a security structure should be conditioned on Arab members normalizing relations with Israel...")
What does America get? The bill.
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ISIS inspired plot thwarted: NY woman charged in plan to bomb Albany Capitol
A New York woman who converted to Islam has been arrested in an ISIS inspired terror plot to bomb the state Capitol in Albany. She was charged with attempting to provide material support to ISIS, a designated foreign terrorist organization.
According to a federal criminal complaint released on Thursday, 35 year old Jessica Bowie was taken into custody on Wednesday.
Bowie's plan reportedly involved detonating a bomb, which would be placed inside of a DoorDash delivery food bag, in front of the state Capitol. However, unbeknownst to her, she detailed the plan to a Federal Bureau of Investigation (FBI) informant whom she believed would assist her as an accomplice...
Every time they talk about ISIS or "ISIS inspired," please remember that ISIS was a Judeo-American imperial project. Paid and organized. The fact that they never attacked kikes and only murder other Muslims and Christians should be a clue.
@americanmajority
A New York woman who converted to Islam has been arrested in an ISIS inspired terror plot to bomb the state Capitol in Albany. She was charged with attempting to provide material support to ISIS, a designated foreign terrorist organization.
According to a federal criminal complaint released on Thursday, 35 year old Jessica Bowie was taken into custody on Wednesday.
Bowie's plan reportedly involved detonating a bomb, which would be placed inside of a DoorDash delivery food bag, in front of the state Capitol. However, unbeknownst to her, she detailed the plan to a Federal Bureau of Investigation (FBI) informant whom she believed would assist her as an accomplice...
Every time they talk about ISIS or "ISIS inspired," please remember that ISIS was a Judeo-American imperial project. Paid and organized. The fact that they never attacked kikes and only murder other Muslims and Christians should be a clue.
@americanmajority
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Pentagon says over 750 US troops wounded during war on Iran
More than 750 US service members have been wounded since the US launched its war of aggression on Iran on 28 February, according to Defense Department casualty data updated on 19 August.
The update added more than 50 wounded US soldiers to the Pentagon's war casualty database, bringing the official total to 757 wounded and 18 killed.
Those figures are drawn from two separate entries in the Pentagon's Defense Casualty Analysis System, combining the totals listed under "Overseas Operations" with those recorded for Operation Epic Fury.
The Defense Department created an Overseas Operations category last month in its casualty database for personnel killed or wounded from 7 July onward, separating those figures from casualties recorded under Operation Epic Fury...
@americanmajority
More than 750 US service members have been wounded since the US launched its war of aggression on Iran on 28 February, according to Defense Department casualty data updated on 19 August.
The update added more than 50 wounded US soldiers to the Pentagon's war casualty database, bringing the official total to 757 wounded and 18 killed.
Those figures are drawn from two separate entries in the Pentagon's Defense Casualty Analysis System, combining the totals listed under "Overseas Operations" with those recorded for Operation Epic Fury.
The Defense Department created an Overseas Operations category last month in its casualty database for personnel killed or wounded from 7 July onward, separating those figures from casualties recorded under Operation Epic Fury...
@americanmajority
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It's amazing just how much these people grew over the past 2-3 years. I'm sure many of you have seen this woman's parody of jews, I don't really care about that. But to see a mainstream political commentator get to a point where they say this...
I remember this woman being hysterical about Trump and to now see her understand (or starting to understand) that it doesn't matter makes me happy.
Well done. Nothing else to add.
I remember this woman being hysterical about Trump and to now see her understand (or starting to understand) that it doesn't matter makes me happy.
Well done. Nothing else to add.
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"Drop in the bucket": Why Wall Street will shrug off Bessent’s bond market plans
Treasury Secretary Scott Bessent on Wednesday announced that the federal government will buy back more of its own bonds, a move that briefly reversed a weekslong selloff in long term US debt that had threatened to drive up mortgage rates and consumer borrowing costs in the lead up to the midterm elections. Few expect Bessent's cure to fix what’s ailing the bond market...
As far as I can tell, the ultimate goal is to inflate away the debt. We are running out of people to borrow money from. Not only is our debt now growing rapidly, the cost of servicing that debt is also growing. The Fed plan? Print even more money to buy even more of our own bonds to artificially increase the demand. Brilliant. We are going bankrupt so fast it's not even funny. None of this fixes anything. Can't even call it a "short term solution" anymore, because it lasted exactly 1 day before the bond yields went back up.
@americanmajority
Treasury Secretary Scott Bessent on Wednesday announced that the federal government will buy back more of its own bonds, a move that briefly reversed a weekslong selloff in long term US debt that had threatened to drive up mortgage rates and consumer borrowing costs in the lead up to the midterm elections. Few expect Bessent's cure to fix what’s ailing the bond market...
As far as I can tell, the ultimate goal is to inflate away the debt. We are running out of people to borrow money from. Not only is our debt now growing rapidly, the cost of servicing that debt is also growing. The Fed plan? Print even more money to buy even more of our own bonds to artificially increase the demand. Brilliant. We are going bankrupt so fast it's not even funny. None of this fixes anything. Can't even call it a "short term solution" anymore, because it lasted exactly 1 day before the bond yields went back up.
@americanmajority
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The American Majority
"Drop in the bucket": Why Wall Street will shrug off Bessent’s bond market plans Treasury Secretary Scott Bessent on Wednesday announced that the federal government will buy back more of its own bonds, a move that briefly reversed a weekslong selloff in long…
Please, look into it, because the Feds will rob you of everything you have in the coming years to trick the economy into not imploding for another few years. They'll suck you dry and leave you with nothing.
Please reconsider how you use your currency and assets. If you have any US bonds - get rid of them. If you have money in pension funds, close it and reinvest into something real. If you have credit, extend it for as long as you can through refinancing.
Even the greedy, corrupt idiots on Wall Street seem to now understand what's coming. But don't worry about them, they'll get everything they want and more. Where will they get it from? From you.
Please reconsider how you use your currency and assets. If you have any US bonds - get rid of them. If you have money in pension funds, close it and reinvest into something real. If you have credit, extend it for as long as you can through refinancing.
Even the greedy, corrupt idiots on Wall Street seem to now understand what's coming. But don't worry about them, they'll get everything they want and more. Where will they get it from? From you.
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