Hello everyone
Hello everyone. Is a major economic collapse upon us? Over the past few days, we've seen massive increases in bond yields, which is going to have major implications for national debt of many countries. In particular, the United States, which has hit national debt of over 40 trillion dollars in the past 24 hours. This comes at the same time when the 30-year bond yields, that is the amount of lending to government from private individuals and private institutions, which is seen as one of the safest.
Asset classes, has risen to nearly 6% in the United States. And many so-called Western democracies have also increased exponentially over the past number of months also, including the UK and France and Germany. And at the same time, this is always the game that the so-called elites play. Currently, we have the situation with the ongoing war in Iran, which is having major implications on fuel prices around the world. We can see it here in Ireland domestically in terms of the internal.
Strife it's creating. And also in the context of the war in Ukraine, and what's come out of COVID with the magic money tree and the quantitative easing policies which have been pursued by successive central banks around many jurisdictions in the world. Now, in the context of the bond yields here in Ireland, a 30-year bond yield is around 3.4%. It's up over one percentage point in the last year.
And the cost of service in this comes out of your national budget. So, what does that mean in the future for Irish people? It means increased taxes and less public services. But at the same time, Ireland is run running a budget surplus. Now, this is completely overinflated and overstated due to the GDP and the relationship of the corporations, the multinationals and foreign direct investment, which has left Ireland completely open to any international shock which occurs. We saw.
Previously with the last financial crisis in terms of settling over 42% of the total European banking debt. Now, this was at the same time that many of those who were standing up for government at the time were saying that they should burn the bond holders, but remember when Jean-Claude Trichet said a bomb would go off in Dublin if that was the case. So, the bond holders are sacrosanct, private investors are sacrosanct, and those big private equity firms and bankers are.
Sacrosanct in this corrupt system
Sacrosanct in this corrupt system. And in terms of funding this going forward as well, this is creating major problems for the United States because they've had the so-called buybacks over the last number of days where they've increased it from $2 billion to $4 billion where they're buying their own national debt. And how did they do it? Yes, you got it, you guessed it, they print more money. Some may say they buy short-term debt, but what they're.
Actually doing is printing more money, the magic money tree, where they can print it out of thin air that's backed by absolutely nothing but just the trust of ordinary people. What essentially it is is a giant Ponzi scheme because what you're using is new investment money to pay off old investments or debts that's due to keep the tin rolling. And at the moment, over $40 trillion would pay testament to that. Much the same as many countries.
Around the world which run budget deficits, probably 150 to 160 countries currently run budget deficits. And it's the whole testament to the debt system which is really going to explode. Because when bonds yields go up, higher rates lead to higher interest payments, more spending, and bigger deficits, which they call a doom loop, which leads to more debt again, more bonds, lower demand, and more printing of money. What does that lead to? More inflation, and again, higher.
“And it's the whole testament to the debt system which is really going to explode”
Interest rates. So, it really keeps getting worse for ordinary people. In particular, there in Ireland, which is currently running a budget surplus. But, what's interesting there is that they've also followed suit because we're completely open to any international shock in terms of the whole globalist policies in terms of not having control of our currency, our monetary policy, our fiscal policy, and in terms of deciding the direction of our own country, where it's beholden to European Central.
Bank. They'll probably put interest rates up by probably a quarter percent in the next month. We already see food prices hitting extortionate levels, so-called inflation getting out of control as well, which is just another avenue used to devalue ordinary working people's money and transfer money upwards. Much the same will happen during the period of COVID. We see the war in Iran in terms of the fuel chaos. And also, we see the impact implications of the war in Ukraine as well in terms of.
Cutting off the cheaper fuel supply to many European
Cutting off the cheaper fuel supply to many European countries, most notably Germany, and deindustrializing that country as well. And this leads to massive, massive pressure on the economic growth, which as we know is hitting negligible levels right across Europe. Where more and more people are being forced into poverty and struggling. And what's the solution of the so-called elites? Well, the solution is to print more money through the European Central Bank and bring forward austerity on steroids,.
Which means that less spending on public services and more taxation on ordinary working people. So, here we go. This is setting up the key in terms of moving forward towards the resetting of the financial system. Austrian Central Bank digital currency and also digital identification. Where it's easier to monitor, easier to control, and easier to manage in terms of the financial leads and avert many more of these financial collapses. So, we can see what's happening with Trump. We can see.
What's happening across the Western world. And also in the context of many situations here in Ireland in relation to through the National Treasury Management Agency, which in the last couple of days has increased interest rates for post office savings accounts and other savings accounts trying to draw more money in so they can go back to the bond holders and again put more debt on ordinary working people. Remember, those debt servicing costs come out of current budget.
Currently, Irish national debt is around 215 billion euro. Not one of the highest in Europe, but when you take away the multinationals and the foreign direct investment and the tax haven economy that Ireland is, this really shows you how open we are to any international shock. We're not immune to it. And we're going to be right at the heart face of it. Remember when the politicians at that time as well with the last financial collapse, led to.
The 42% of the European banking debt being settled on the people of Ireland. Remember those pre-election promises about burning the bond holders? Well, how did they go? Jean-Claude Trichet said a bomb would go off in Dublin if that was to happen. So, we really have to look at the whole corrupt economic system and who it ultimately serves and represents and what our politicians are telling us and what the media are not telling us about what's taking place in.
Terms of the international complexities and what's taking place
Terms of the international complexities and what's taking place with the bond markets while they distract you with many more issues this should be top of the agenda cuz it's going to impact every single one of us going forward and at the same time many of these other countries across Europe are even ignoring the EU budget deficit rules in terms of using 3% of GDP because we're under massive pressure. At the same time they want to spend money on weapons, on war instead.
Of spending money on people who are struggling without a home, a roof over their head. Many are homeless, many are struggling on hospital waiting lists. These aren't priorities for these at the top of European political life. So thanks so much for all the support of my videos. Really appreciate it and from Dublin today, it's longer falls. See you all soon. Bye-bye.
