Robert Rubin — Newshour Interview with Margaret Warner — 23 Feb 2001
A world-leading nation cannot sustain itself while losing 2 trillion monetary units per annum, which money is so run down that it attracts no global investors as bond-holders. Such currency is in an intractable compromise the plight of which must be made fiat with no more backing than the good will of its issuing authority. In the case of the US dollar, this authority is government of the United States itself.
Many people across the world will wonder how such a powerful nation arrived at this juncture the morning after the collapse of the Social Security Administration of the United States of America. This contributory fund has been completely denuded of its financial assets by the inept, unlawful and unpunished misappropriations of its political and governmental trustees—the same who are corrupt and criminal bent beyond any degree of measure.
Published 22 Aug 2019 — Interest Rate: Russia, 7.25 per cent; China, 4.25 per cent.