In a speech over the weekend in Brazil, Treasury Secretary Yellen said about the implications of Climate change: “The transition will require no less than $3 trillion in new capital from many sources each year between now and 2050”. $3Tn per year for 26 years is $78Tn. If we distribute that amount among countries using their respective weights into global gdp, the U.S. would have to put in $20.5Tn, or $789Bn per year. That comes in top (or prior) to any financing needs related to the budget deficit or any other programs we’re currently supporting. As you can see below, global debt is already beyond $300Tn, and the only reason why the ratio over gdp went down is inflation. Now that we have more moderate price increases, the ratio will go back up again. The amount of pressure over the global fiat system keeps growing.
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