The World Economic Forum said it is starting The Great Reset initiative to improve the urgently needed change of the state of the world. Max Keiser and Stacy Herbert explore what that could actually mean for the global economy.
They note that in January 2011 the same organization said at the DAVOS forum that $103 trillion in credit was needed to support global growth.
Stacy points out that they are now seemingly signaling that new credit loans will be needed for their so-called Great Reset.
“That means a new recalibration of the world’s currency greed, refactoring into the global market of gold and gold reserves,” says Max, adding that is what always happens during these great resets.
“It’s a great big accounting, it’s like the bill has arrived for decades of sloppy accounting and profligacy and debt binging and corruption.”
He goes on: “So, now the bill arrives at the big table of the reset, and global powers decide who pays what. And it looks like the US has to pay the most because that economy is the worst in terms of how abusive it’s been in using the world reserve currency, the US dollar, to expand its empire of debt to the far reaches of the globe. The hegemony of this now no longer works.”
For more stories on economy & finance visit RT’s business section