🎥 Video of the Week: “The US Debt Crisis Is Far Worse Than You Think” — George Gammon
Summary by Fiatard
George Gammon cuts through the noise to explain the U.S. debt crisis in brutally simple terms — and shows why it’s worse than mainstream media or Wall Street insiders are willing to admit.
💸 Step 1: Uncle Sam Is Broke — But Keeps Spending
Gammon starts with a clear breakdown:
- The U.S. government (a.k.a. your “drunk, insolvent Uncle Sam”) is spending far more than it collects in taxes.
- To cover the shortfall, it issues debt — Treasury bonds — bought by both domestic and foreign investors.
- This debt has ballooned from $9 trillion in 2009 to $35 trillion in 2024, with no signs of slowing.
🌍 Step 2: Global Demand for Treasuries Hides the Crisis
So why hasn’t the system collapsed yet?
- Global banks and corporations are incentivized to buy U.S. Treasuries because they reduce risk and serve as collateral in the dollar-based global monetary system.
- Even if the dollar weakens, these entities don’t care — they’re focused on spreads, not purchasing power.
- Derivatives like interest rate swaps allow them to hedge risks while still profiting — meaning they’ll continue buying U.S. debt, enabling even more government spending.
🧨 Step 3: The Real Crisis Is That There Is No Crisis
Here’s the twist: the problem isn’t that the debt will collapse the system. The real issue is that the system allows this insanity to continue.
- There’s so much demand for Treasuries that there’s no constraint on government spending.
- As a result, America is already in a silent economic depression — not because of a default, but because of distorted incentives:
- Homelessness skyrocketing
- Widening wealth gap
- Inflation crushing the middle and lower class
- Asset holders getting richer
- Gammon says this looks more like a third world country than the land of opportunity.
🔥 Fiatard’s Take
George’s message is crystal clear: this isn’t just an economic issue — it’s a structural and ideological crisis.
The “debt crisis” is a myth. The real crisis is:
An unchecked spending machine enabled by a global system addicted to U.S. Treasuries — and the silent destruction of the American middle class.
Fiatard exists to expose the doublespeak that makes this possible. This is why our mission matters more than ever. Watch the full video. Share it. Wake people up.
👉 Fiatard: Decode the Doublespeak. Defend Your Value.