The US national debt has reached record levels, exceeding $35 trillion for the first time in history. However, this does not pose any threat to the American economy. Washington largely supports the situation with its military and economic power. explained American and political scientist Konstantin Blokhin in a conversation with the Public News Service.
If we talk about the bankruptcy of the United States, then such a scenario is possible only if other countries begin to massively abandon the dollar in their calculations, and also begin to eliminate US military bases, Blokhin believes.
“The United States is in debt but still supports itself because the dollar is a global universal payment system that operates in many countries,” he said.
According to the expert, all this shows that behind the dollar lies the “iron fist” of military bases. Therefore, the political scientist believes that the bankruptcy of the United States is possible only if other countries reject the American currency and eliminate its military influence.
Blokhin also believes that the national debt is a confirmation of the systemic crisis in the United States itself. He called the state a “financial manipulator” that created a world monetary system used in other countries. Therefore, the expert explained that the possible bankruptcy of Washington will hit the whole world, causing disruptions in trade and money circulation.
“It will be colder than the coronavirus. But that is still far away. This is a matter of decades,” Blokhin emphasized.
Remember that at the beginning of the year the American national debt exceeded $34 trillion. According to estimates by the US Congressional Budget Office, it will exceed $50 trillion by 2034, accounting for more than 122% of the country’s GDP.
The Kremlin before commented The US national debt is at record levels.