The growing rivalry between the world’s two largest economies, the US and China, is at risk of becoming a ‘financial war,’ a former Chinese finance minister says.
RT’s Keiser Report discusses the possibility of a trade war turning into financial one, with Stacy Herbert saying that America is an empire of debt, ran by derivatives.
Max Keiser agrees, saying that: “The only way to keep this Ponzi scheme going is to keep flooding the market with ever more trillions of dollars’ worth of fake fiat money and more derivatives.”
So, the Ponzi scheme will increase, he says, adding that “America’s debt will go from $23 trillion to $50-60 trillion; I’ve no doubt about that.”
For more stories on economy & finance visit RT's business section