Hillary Clinton, former prima donna and US Secretary of State from 2009 to 2013, warned in a viewpoint, published Monday by the New York Times, about the devastating results that could come from the American hinterland. pedaling his own personal debt pledges, showcasing the danger of the dollar lowering his own condition as the planet receives money.
“The debt ceiling debate is not about authorizing new spending. This is for Congress to pay debts it has already contracted. To refuse to pay would be to forfeit your mortgage, except with global consequences,” Clinton illustrated, warning:
Because of America’s primary duty—as well as responsibility—in the global economic situation, backpedaling our personal debts can spur a global currency crisis.
Noting that “competition between democracies and autocracies has intensified”, the previous prima donna warned: “By undermining America’s credibility and the pre-eminence of the dollar, the fight for the debt ceiling plays into Xi Jinping’s game from China and Vladimir Putin from Russia.
Clinton suggested, “Playing games with the debt ceiling jeopardizes the preeminent position of the dollar in the global economy and the power that the United States gives.”
The former condition assistant pointed out that the USD is actually the primary global purchase administered by individuals, businesses, and governments around the world. They buy US Treasury guarantees and depend on US financial institutions “because they believe America pays its debts, upholds the rule of law and provides stability,” she said, adding that this had in fact allowed the United States to establish winks, including those against Iran as well as Russia.
“It’s no surprise that Mr. Xi and Mr. Putin are eager to disrupt dollar dominance and roll back US sanctions,” Clinton said, concluding:
If Congress continues to tease non-payment, the money will have to be deposited because incomes around the world are going to rise much faster – and certainly not just in Beijing and Moscow. Countries around the world will start dodging their bets.
Many developing countries are making increasing attempts to avoid using US money in negotiations on the ground with ASEAN countries. Meanwhile, the BRICS countries (Brazil, Russia, India, China and South Africa) are expected to gain new money which will reduce their dependence on the USD.
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Do you agree with Hillary Clinton on the repercussions of the retreat of the American state on her own personal debt? Do you assume this will cause the USD to abandon its own international condition for obtaining money? Let our team understand in the remarks part below.
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2023-04-26 09:19:36
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