What Could the US 31 Trillion Dollar Debt Mean to Us?
- 1 day ago
- 1 min read
This may be a strange subject to talk about on a local news outlet, but it affects local residents where it hurts most: their pockets.
We are lucky enough to have a building society in our town that keeps our savings safe for that summer holiday which we are thinking about in all this cold weather.
But if you have money elsewhere, there may be a problem coming soon. The United States is at a record high level of debt, and one of the factors that keeps their currency stable is the petrodollar. This is the currency under which all fossil fuels are traded. The Saudis are thinking of moving away from the dollar as a trading currency to something more stable.
This could make sense of the American invasion of Venezuela, which has the most untapped supply of fossil fuels on the planet. Also, Greenland has amazing reserves of minerals that the US could process and trade with China. But if these plans fail, it could be us who also have to pay if the US crashes.
So please check where your bank invests its money. If it is in American stocks, then you may need a financial review and consider a safer European investment.
This is just an opinion. Please do your own research.
What Could the US 31 Trillion Dollar Debt Mean to Us? - created 14th January 2025
