Hugh Hendry says, “God is dead, and there are no rules…”
This is a 20 minute video that will give you an idea of how the kings of capitalism think. He’s a “brilliant” man in worldly terms, I suppose. I find it interesting that he is worried right now about the creditor nations (specifically China), and not so worried about the USA and the potential for hyper-inflation coming from too much money-printing.
Folks, there’s a lot of fear-mongering about the US national debt, and the possibility of eventual hyper-inflation and the fall of the U.S. Dollar. Yes, it is true that the rest of the world is financing our $16 trillion debt by buying US Treasuries, and if they ever lose confidence in the US and decide to sell their Treasuries, then our economy would crash catastrophically. But how likely is that to happen, given the central role of the dollar in the world economy? What could replace it? It’s already a global currency. Why would the global banking syndicate want to create a new one? Besides, the symbolism on the Dollar seems to WELCOME the reign of Antichrist! My view is that the US Dollar will be the world’s foundational currency right up until Judgment Day.
Hugh Hendry agrees that the US is sitting in the most powerful position when compared with China, Japan, or Europe. Here is what he says about China’s current economic relationship with the US:
“If we don’t have a sustained economic recovery, then I’m very fearful of the events that could befall the Chinese. And don’t tell me that they’ll sell their US Treasuries! It’s not an asset. An asset is something that you can sell to protect yourself. If they sell Treasuries the Renminbi goes higher, and higher, and higher, and their little companies that export go BUST!”