Max Keiser and Stacy Herbert of the Keiser Report look into corporate buybacks of the biggest US corporations which have continued for two decades, while in China business is booming.
Max points out that before Covid hit, countries around the world “were trapped in a fiat game theory.” China and the US had a “symbiotic relationship” where China had all the manufacturing capacity and the jobs while the US was the consumer, he says.
“However, post-Covid there’s a breakdown. China is breaking away from the pack, and it’s clearly establishing itself as not needing the US anymore in terms of its ambitions for global economic dominance.”
Max adds that growing US debt will cause “confidence in US dollar to evaporate,” followed by hyperinflation and currency collapse.
For more stories on economy & finance visit RT’s business section
