5 sats \ 0 replies \ @Solomonsatoshi 8 Oct \ on: Boomers got all the money. The great wealth transfer is coming charts_and_numbers
The global power structure is changing.
There will be huge wealth redistribution as a consequence of factors many are ignoring.
USA has not had a trade surplus since the 1970s.
US debt is unsustainable- USA is trading while insolvent.
If it loses USD fiat debt seigniorage and hegemony USA is no longer the number one empire.
China is now the strongest manufacturing economy and not only produces the goods most nations want at the best price but also controls most commodity markets.
Few if any nations can afford not to trade with China.
USA only remains dominant due to legacy control over the fiat monetary system USD/SWIFT. This legacy dominance is easily lost.
China has already built its own independent CBDC monetary system which enables trade payments and internal liquidity.
Iran and Russia are now reliant upon Chinas new trade payments system and are selling China oil and gas at discount prices while they attack US associates and impose huge cost upon USA.
This is a proxy war for global dominance and the USA looks like losing.
Wealth redistribution will be significant- already more new millionaires and billionaires are created in China then the USA.