“The world now has so much debt that it is impossible to add more for the first time,” says Max Kieser.

In the final episode of the Keizer Report on September 22, the RT host warned that central banks are responsible for bringing global debt to a new “turning point”.

The emperor owes: “We are satiated”
Alongside co-host Stacy, Herbert Keizer cited comments from Singapore’s central bank, the Monetary Authority of Singapore (MAS), which warned last week that copying postwar recovery methods will not work in 2020.

Central banks around the world are interfering in the markets by buying stocks and other assets, which is a very controversial move to limit and isolate the economic impact of Covid-19.

“First of all, it is very clear that you cannot keep increasing your debt,” said MAS President Tharman Shanmogaratnam.

“But I don’t think that the new and high levels of debt that many countries are now heading to will be sustainable without significant costs for growth and equity in their societies.”

The national debt of the United States alone has risen $ 26.7 trillion this year, up $ 4 trillion from June 2019.

“The land economy does not have the capacity to take on large debts; we are at saturation point,” Kaiser summed up.

Regarding the implications for increasingly indebted countries, he said that from now on, ordinary consumers would simply pay the bills:

“Now every dollar these central banks pay will go straight to CPI inflation – and you’ll see that in the treasury right away and there is incredible social unrest [.]”

In the 1940s, countries that had accumulated debt as a result of hostilities were able to dismantle them. This time, Herbert said, there were so many unimportant jobs in the gig economy that wages were independent of rising prices, leading to a kind of discord between the elite and the rest of society, which Kaiser called “the new feudalism.”

MicroStrategy and Bitcoin Business low timing preference
Keizer has long fought for Bitcoin (BTC) as a way out of the dizzying impact of monetary inflation.

With its steady, unchanged emissions and decentralized network, Bitcoin is the opposite of centrally controlled money.

As reported by Cointelegraph, the Bitcoin / US dollar rate is rising in line with the ballooning balance sheets of central banks, but it is still being affected by the US dollar.

Kaiser noted on September 22 that “Bitcoin, like gold, is inversely correlated with the US dollar, not the stock market.” “Do not be fooled by chance.”

In addition to its technical prowess, Bitcoin also promotes what’s called low preference time in real time – which saves money, while making sure that the value does not increase over time.

As Cefidan Amous explains in his famous book The Bitcoin Standard, this ultimately allows for better and faster progress over time than just spending money as quickly as possible on the largest amount possible.

Keizer and Herbert noted that MicroStrategy’s decision to invest more than $ 400 million in Bitcoin cash holdings indicates a low preference for large companies.

Source: CoinTelegraph