On Legitimacy, Leadership, Taxes, and "The Real Problem" | Nayib Bukele

I am here to tell you that in El Salvador, globalism is already dead. If you want globalism to die here in the United States as well, you must be willing to unapologetically fight against everything and everyone that stands for it. 

 

 » Winning the election is not enough. «

Nayib Armando Bukele Ortez (born 1981), the 81st President of El Salvador, serving since 2019; re-elected in 2024

with 84.6% of the vote, and currently maintaining approval ratings between 79% and 91% as of December 2025.

 

[...] The next President of the United States must not only win an election; he must also have the vision, the will, and the courage to do whatever it takes. Above all, he must be able to identify the underlying forces conspiring against him. These dark forces are already taking over your country. You may not see it yet, but it is already happening. 

 

[...] There are other symptoms that are even more difficult to diagnose—for instance, the financial situation of the United States. When I talk to my conservative friends here in the US, they always tell me that the problem is high taxes. But they are wrong. Of course, taxes are extremely high here in the United States, but that’s not the real problem. The real problem is not the high taxes themselves, but the fact that they are not even funding your government. 

 

So, who is financing your government? Your government is financed by Treasury bonds. Paper. And who buys the Treasury bonds? Mostly the Fed. And how does the Fed buy them? By printing money. But what backing does the Fed have for that money being printed? The Treasury bonds themselves. So basically, the Fed finances your government by printing money out of thin air.

If your government can print unlimited amounts of money out of thin air, why does it collect taxes? The answer is simple, but it's very shocking: The real problem is that you pay high taxes only to uphold the illusion that you are funding your government. It’s shocking, but it’s true: Your government is funded by money printing: paper backed with paper. This bubble will inevitably burst.

 

The situation is even worse than it seems, because if most Americans and the rest of the world were to become aware of this farce, confidence in your currency would be lost. The dollar would fall, and Western civilization with it. If the next president of the United States doesn’t make the necessary policies and structural changes, sooner or later that bubble will burst.

 

» Israel First. Trump has fully betrayed America. «

Genocide MIGA ZioDon, "1st Jewish POTUS," December 16, 2025.

[...] Winning the election is not enough. It will require a total re-engineering of the government from top to bottom. It will entail making difficult decisions. But you have the right to determine your own fate. [...] That is my message to you: put up the fight, because in the end, it will be worth it. You will have your country back. May God bless you.

 

Quoted from:

Nayib Bukele (February 22, 2024) - Keynote Address at CPAC. (video)

 

 

» The complete degeneracy of the US political class is on full display. «

 

Winning the election is not enough: 

1. Alexander Grigoryevich Lukashenko (born 1954), the 1st President of the Republic of Belarus, serving since July 1994; re-elected in 2025 with approximately 88% of the vote, and maintaining an approval rating around 75%-85% as of December 2025.

2. Vladimir Vladimirovich Putin (born 1952), the 4th President of the Russian Federation, serving since May 2012; re-elected in 2024 with approximately 87% of the vote, and maintaining an approval rating around 82%-86% as of December 2025.
3. Nayib Armando Bukele Ortez (born 1981), the 81st President of El Salvador, serving since June 2019; re-elected in 2024 with approximately 85% of the vote, and maintaining an approval rating around 79%-91% as of December 2025.
4. Claudia Sheinbaum Pardo (born 1962), the 66th President of Mexico, serving since October 2024; elected in 2024 with approximately 60% of the vote, and maintaining an approval rating around 70%-79% as of December 2025.
5. Emmanuel Jean-Michel Frédéric Macron (born 1977), the 8th President of the French Fifth Republic, serving since May 2017; re-elected in 2022 with approximately 59% of the vote, and maintaining an approval rating around 14%-18% as of December 2025.
6. Javier Gerardo Milei (born 1970), the 59th President of Argentina, serving since December 2023; elected in 2023 with approximately 56% of the vote, and maintaining an approval rating around 42%-52% as of December 2025.
7. Recep Tayyip Erdoğan (born 1954), the 12th President of the Republic of Turkey, serving since August 2014; re-elected in 2023 with approximately 52% of the vote, and maintaining an approval rating around 35%-45% as of December 2025.
8. Nicolás Maduro Moros (born 1962), the 34th President of Venezuela, serving since 2013; re-elected in 2024 with approximately 51% of the vote, and maintaining an approval rating around 65%-90% as of December 2025.
9. Luiz Inácio Lula da Silva (born 1945), the 39th President of Brazil, serving since January 2023; elected in 2022 with approximately 51% of the vote, and maintaining an approval rating around 40%-43% as of December 2025.
10. Gustavo Francisco Petro Urrego (born 1960), the 35th President of Colombia, serving since August 2022; elected in 2022 with approximately 50% of the vote, and maintaining an approval rating around 30%-36% as of December 2025.
11. Donald John Trump (born 1946), the 47th President of the United States, serving since January 2025; re-elected in 2024 with approximately 50% of the popular vote, and maintaining an approval rating around 38%-41% as of December 2025.
12. Mark Joseph Carney (born 1965), the 24th Prime Minister of Canada, serving since March 2025; elected in 2025 with approximately 43% of the vote, and maintaining an approval rating around 62% as of December 2025.
13. Narendra Damodardas Modi (born 1950), the 14th Prime Minister of the Republic of India, serving since May 2014; re-elected in 2024 with approximately 37% of the vote for his party, and maintaining an approval rating around 70%-78% as of December 2025.
14. Keir Rodney Starmer (born 1962), the 58th Prime Minister of the United Kingdom, serving since July 2024; elected in 2024 with approximately 34% of the vote for his party, and maintaining an approval rating around 20%-25% as of December 2025.
15. Friedrich Merz (born 1955), the 10th Chancellor of the Federal Republic of Germany, serving since May 2025; elected in 2025 with approximately 32% of the vote for his party, and maintaining an approval rating around 23%-30% as of December 2025.

The Psychology of Revolution | Gustave Le Bon

In his 1913 analysis of The Psychology of Revolution, French physician and polymath Gustave Le Bon (1841-1931) argues that "political revolutions" are abrupt upheavals driven primarily by "affective and mystic elements" rather than "rational discourse," which he attributes to the "erosion of established traditions" and the "contagious spread of discontent."

 

"A revolution is effected from above, that is, by the leaders of the old regime; but when it is victorious it is rapidly vulgarised, because the people interferes and applies the only means in its power—violence. To destroy is within its scope; to reconstruct is beyond it. [...] The instinctive soul of the people is above all remarkable for its extreme mobility. Deceived by its own chimeras, it enthusiastically applauds its idols of a day, to overthrow them the next day in favour of others. No gods ever long survived its favour. This mobility renders the people credulous and ignorant at the same time. 

 

» An individual in a crowd is a grain of sand, which the wind stirs up at will. « 

Gustave Le Bon, The Crowd, 1896.

 

Le Bon argues that during political revolutions, individuals are driven more by inherent character traits than by intellect, with certain mentalities rising to prominence amid chaos:

  

[...] We have seen in all times apostles arise who have had an irresistible influence over the popular mind by cultivating its instincts and speaking its language. The people always follows them with enthusiasm, whether they be ignorant fanatics, hard and upright logicians, ferocious maniacs, or eloquent speakers. Whatever their aims, the leaders of the people are obliged to enter into reciprocity with it, to recognise its psychology, even if they do not share its sentiments. They must be in communion with it, or they will not act upon it. 

 

» The people loves equality, but it respects titles and prestige. «

 

[...] When a political party triumphs, all the forces of interest, ambition, and hatred which parties contain become enlisted in its service, so that the triumph of a political revolution is always accompanied by a complete overthrow of all the institutions of a country. The chief result of a revolution is to sweep away the forces which held together the edifice of government, which was perhaps already tottering, and to substitute for them nothing but the will of the victors, which is for that reason all-powerful. 

 

» Irresistible influence over the popular mind. «

  

[....] A revolution cannot change the soul of a people. This soul commands, and all must obey. It is for this reason that after a revolution the laws and institutions of a people are so often in contradiction with the interests of the new rulers, and also with the prescriptions of pure reason. But presently the laws are modified or abrogated, until they are more or less adapted to necessities. When the dogma which serves as the base of a revolution is victorious, the dissociated social elements which have resulted from the destruction of the old institutions become agglomerated under the action of new ideas."

Le Bon dissects the role of "the people" in such revolutions, distinguishing between the "conservative majority" and a "subversive minority" prone to violence. He argues that the masses are often manipulated and contribute mainly through destructive acts rather than constructive change:

 

"1. The Meaning of the Word 'People:' The term 'people' represents merely the superior portion of a nation. It comprises an elite: the nobility, clergy, magistrates, etc. By extension it was applied to the whole nation, and finally it has come to mean the most inferior elements of the population, the lower populace. We shall examine it in this last sense, and shall show what part the people plays in revolutions. From the political point of view the people may be considered in two aspects—as an army and as a crowd. As an organised army it plays the part of follower. As a crowd it is often revolutionary. 

 

» To become the master of the people one must know how to dazzle it. « 

 

2. How the People regards Revolutions: The revolutions are sometimes regarded with favour by the people, because they represent the triumph of its claims. But the people quickly becomes indifferent, and seeks only tranquility. It is always the people that suffers in revolutions, for it pays the cost in blood and poverty. It is for this reason that it often acclaims the return of a master. 

 

» To destroy is within its scope; to reconstruct is beyond it. «

  

3. The Psychology of Revolutionary Crowds: The revolutionary crowd is formed of transitory elements, recruited from all classes, but chiefly from the instinctive and criminal categories. It is the crowd that acclaims or murders kings, and whose violence has always been the principal factor of revolutions. The psychology of revolutionary crowds shows us that they possess the ordinary mental characteristics of all crowds: contagion, unconsciousness, exaggerated sentiments, intolerance, etc. They are above all remarkable for their credulity and their docility towards their leaders. 

4. The Part of the Leaders in Popular Movements: Although the people in rebellion generally begins by destroying everything, it soon grows weary of anarchy, and instinctively seeks a leader. It loves equality, but it respects titles and prestige. It was thus that all the great popular movements—those of the Reformation, the Revolution, etc.—were effected under the guidance of leaders. 

  

 » The people always follows apostles with enthusiasm. «

[...] From the preceding considerations we may draw the following conclusions: (1) The people, by reason of its instinctive soul, accepts without discussion the ideas presented to it. (2) By reason of its sentimental soul it incarnates these ideas in leaders, to whom it often delegates the direction of its destinies. (3) By reason of its mobile soul it personifies all its sentiments in a fetich. To become the master of the people one must know how to dazzle it, be able to make it hope, and if necessary know how to deceive it. (4) Finally, the leader must possess prestige, speak in images, incessantly repeat the same ideas in different terms, and know how to act by persuasion and never by reasoning." 

 

Le Bon further elaborates on the role of leaders and contagion in precipitating political revolutions, noting that discontent alone is insufficient without amplification through suggestion: 

 

"The role of the leader in all revolutions is very considerable. He does not create the beliefs which provoke them, but he directs them. Without him they would often remain latent and ineffectual. Although the revolution which overthrew the Bourbon dynasty was ripe, we know from the memoirs of contemporaries that without the prestige of Lafayette it would probably have remained nothing but a local riot. Whenever a revolution breaks out in one point of a territory, we see similar revolutions breaking out in succession in all the countries which surround it, even when communication is difficult. It was thus that in 1848 all Europe was inflamed by the revolutionary conflagration, and was shaken by it in spite of the slowness and difficulty of communication."

 

Le Bon finally examines the outcomes of political revolutions as often involving the establishment of new power structures, persecutions, and limited social transformations:

 

"Contrary to what occurred in religious revolutions, political revolutions show us merely peoples adapting themselves to new conditions of existence. We have already seen that this adaptation is effected by means of slow successive evolutions, which render violent revolutions useless. [...] The results of political revolutions being merely displacements of wealth and the triumph of certain classes, we may conclude, contrary to the general opinion, that they have been without psychological significance. They strike the imagination because they are accompanied by much violence, and blood flows in streams.

 

» Contagion, unconsciousness, exaggerated sentiments, intolerance, etc. «

 

But when we look a little closer we soon find that the economic or social changes which result from them are very slight. The importance of political revolutions must not, however, be exaggerated. They sometimes cost a country very dear, although they change nothing in respect of its natural conditions. It is especially when they involve disastrous wars that their results are most pernicious." 

 

Reference:

Gustave Le Bon (1913) - The Psychology of Revolution. 

 

See also:

Gustave Le Bon (1913) - The Psychology of Revolution. (complete audiobook) 

Gaetano Mosca (1896) - The Rulers and the Ruled (Elementi di scienza política).

Alexander L. Chizhevsky (1924) - The Physical Factors of the Historical Process.

Neema Parvini (2018) - The "Iron Law of Oligarchy" and the Delusion of Democracy.

Alexander L. Chizhevsky (December 14, 2025) - Mass Excitability during Solar Cycle 25 (2019–2030).

Javier Milei's Chainsaw Massacre of the Trump Presidency? | Alex Krainer

Yesterday, Argentinians voted in midterm elections which were critical as the first nationwide referendum since President Javier Milei came to power and introduced his radical economic reforms. The recent bailout(s) from the US Treasury helped Milei’s La Libertad Avanza Party win the elections with 40.8% of the vote. However, not everyone is convinced: that result was better than even Milei’s own party hoped for.

» To bail out his [Bessent's] dumb friends on Wall Street, that’s banana republic level corruption. «

 

Inevitably, haters will say that the polls were rigged which won’t help the government’s legitimacy. Either way, Argentina will remain stuck in a downward spiral. Milei’s reforms have been so staggeringly successful that keeping Argentina’s economy scotched together required repeated massive rescue packages this year.

First, on 11 April 2025, the IMF approved a $20 billion Extended Fund Facility (EFF) to support Milei’s awesome economic program, strengthen foreign currency reserves, and facilitate the removal of capital controls. The IMF is seldom that generous but it seems that it wasn’t generous enough that time, requiring the Trump administration to step in last month. On 24 September, Treasury Secretary Scott Bessent announced another $20 billion bailout for Argentina.

"El Bobo de Wallstreet"—"The Dumb-Ass of Wall Street".

Under the plan, the US Treasury provided Argentina with US dollars in exchange for Argentine pesos. This raised the awkward question: why did Trump’s MAGA, “America first,” administration put its taxpayers on the hook for Argentina? Bessent said that Argentina was “a systemically important US ally in Latin America,” and that the US “stands ready to do what is needed within its mandate to support Argentina. All options for stabilization are on the table.”

» [Trump] may have to distance himself from Bessent or even sack him. «

 

Well, OK then, but even supposing that Bessent’s justification for the huge bailout of Argentina is good enough, it didn’t seem that the bailout was big enough: the Argentine Peso continued to crash and hit a record low on Friday at nearly 1,490 pesos to the dollar. Before Milei won Argentine presidential elections on 19 November 2023, it took about 360 pesos to buy one dollar. Ever since, Argentina’s currency has been collapsing in spite of the successive IMF/US bailouts:

 

» Either way, Argentina will remain stuck in a downward spiral. «

 

“All options” being “on the table,” on 15 October, weeks after Bessent announced the $20 billion swap, he said that he was arranging a separate $20 billion facility financed by banks and private equity. But for the deal to stick, it may still have to be backed by the US Treasury. A-gain. And in spite of President Trump himself admitting that the bailout might not work and would provide little benefit to the American people. So again: if this is a burden on the American people with no benefit to them, then why is the MAGA administration doing it? [...] As it happens, Rob Citrone is a personal friend and former colleague of Scott Bessent. Here’s what the “Popular Information” newsletter reported earlier this month:

Major Argentine media outlets are now reporting that Citrone asked Bessent for a United States rescue package. Ariel Maciel, Political Economy Editor at Perfil, a large Argentine media outlet, wrote that after the Buenos Aires elections, Citrone “returned to his friend and former colleague… to request a second bailout, this time from the very coffers Bessent manages: the US Treasury.”

CE Noticias Financieras, a major wire service in Latin America, similarly reported that after Argentine officials ran into resistance with lower-level Trump officials, “Citrone managed to connect with Bessent to get him to intervene directly.” But from there, it gets a bit worse than that still: “Maciel also noted that two weeks before Bessent announced the bailout, Citrone purchased additional bonds for “almost nothing.” Maciel said the timing of Citrone’s recent purchases has raised “suspicions” that Citrone had access to “confidential information.”

If true, these arrangements present horribly bad optics for Donald Trump and his administration. If his Treasury Secretary is using his office and American taxpayers’ money to bail out his dumb friends on Wall Street, that’s banana republic level corruption. Any substance of this story will be milked for all it’s worth - and it could be worth a lot - by his political opponents at home and abroad. It doesn’t even matter whether Trump himself was aware of the nature of the bailouts.

Trump may have bought the ideological and geostrategic story about the chainsaw freedom crusader Milei and Argentina being a systemically important ally. In that case, he may have to distance himself from Bessent or even sack him. But even so, the damage has been done. It is hard to see how this won’t undermine the confidence in his administration and further erode his MAGA-base support. On top of that, corrupt dealings with Argentina and Trump’s aggressive stance toward Venezuela, has worsened his administration’s standing in the region:

» Like nobody’s ever seen before. «

The MIGA-MAGA gaga crowds are diminishing, and not only in Argentina.

 

Even if you bring all your carrier strike groups to the Caribbean Sea and threaten action “like nobody’s ever seen before,” the ultimate struggle is and always will be that for the hearts and minds of the people. That struggle is being lost like nobody’s ever seen before.

Quoted from:
Alex Krainer (October 27, 2025) - Milei's chainsaw massacre of Trump presidency?

 

See also:
Alexander Markovics (February 20, 2024) - Javier Milei - Latin America's Prime Golem Zionist.

US Economy: A Closed-Loop Scam And AI-Bubble About to Pop? | Bloomberg

The entire US economy right now seems to be seven companies sending a trillion fake dollars back and forth to each other. This isn't a joke. This is actually real, and the AI scam is going to come crashing down. Soon?

The AI Funding Loop Scam and Bubble according to Bloomberg, October 8, 2025. 

 

Sooner or later. A Bloomberg diagram (see above on the right) reveals trillions in circular AI deals among tech giants like Nvidia ($4.5T market cap), Microsoft ($3.9T), and OpenAI ($500B valuation). Examples include Nvidia's $100 billion investment in OpenAI and Oracle's $300 billion cloud partnership. This interconnected funding, detailed in Bloomberg's October 8, 2025, report, has fueled a $1 trillion AI market and $192.7 billion in 2025 Venture Capital investments. However, as these mutual deals lack broad economic productivity gains, they raise concerns about a potential bubble.
 

The "Magnificent 7" make up approximately 30% of the S&P 500.

  

The "Magnificent 7" mega-cap tech stocks—Apple, Amazon, Alphabet, Meta , Microsoft, Nvidia, and Tesla—make up approximately 30% of the S&P 500 and have driven most of the index’s recent performance. As of October 26, 2025, their combined market capitalization exceeds $21 trillion, highlighting their outsized global influence. Nvidia leads the group with a $4.535 trillion market cap, driven by AI chip demand, with Apple and Microsoft close behind in the $3.9 trillion range. While Tesla has the lowest capitalization in the group, its explosive one-year growth reflects optimism around EVs and autonomy despite recent volatility.

» We're gonna win so much that you may even get tired of winning! You’ll say: 'Please, please, it’s

too much winning. We can't take it anymore, Mr. President. It’s too much!' And I’ll reply—'No, it isn’t! 

We have to keep winning, we have to win more!' «

 Circus Maximus Ringmaster Narcissus during his presidential election campaign in October 2024.

 

The group's average trailing Price-to-Earnings (P/E) ratio of approximately 70 is significantly higher than the S&P 500's average of about 25, signaling substantial bubble risks. Nvidia’s P/E of 53.22 and Tesla’s extremely high 303.30 suggest a premium pricing based on lofty future growth expectations. However, forward P/E ratios, such as Alphabet’s 23.31, indicate potential P/E compression if growth moderates. Alphabet leads the group with a 60.44% one-year return, fueled by ad revenue and AI integrations like Gemini. Tesla's 66.51% one-year gain stands out but is contrasted by a -3.40% daily drop, tied to recent production updates. Year-to-date, Nvidia (+38.73%) and Alphabet (+37.75%) are the top performers, while Amazon (+2.20%) and Apple (+5.32%) have cooled amid broader market rotations.

Reference:
Bloomberg (October 8, 2025) - The Circular OpenAI, Nvidia and AMD Deals Raising Fears of a New Tech Bubble.

Bloomberg (October 8, 2025) - OpenAI, Nvidia Fuel $1T AI Market With Circular Deals (Video). 

Bloomberg (October 7, 2025) - OpenAI’s Nvidia, AMD Deals Boost $1 Trillion AI Boom With Circular Deals.

  

US margin debt reached a record high of $1.13 trillion in September 2025, a 6.3% monthly surge, according to FINRA margin statistics. The Wolf Street chart above shows this leverage at 2% of the S&P 500 market capitalization, surpassing the 1.7% peak seen during the dot-com bubble in March 2000. This metric tracks investor borrowing for stock purchases; historical spikes, such as the 2.5% of market cap level preceding the 2008 financial crisis, have often foreshadowed sharp market corrections, as borrowed funds amplify both rallies and forced selling during downturns.

 

» As bearish as I want to be, I’d say the odds of any pullback being only a consolidation and

not the real reversal are increasing as the next major cycle inflection is early next year. «
Tom Pizzuti, October 27, 2025. 

 

October 29 (Wed): META, MSFT, GOOGL; October 30 (Thu): AMZN, AAPL.

See also:

TPR (August 13, 2025) - Buffett Indicator Hits All-Time High with Market Cap-to-GDP Ratio at 212.1%. 

TPR (October 9, 2025) - The Dow-to-Gold Ratio (DJI/XAU) Collapses: Get Ready for Tangible Assets.

Larry Williams (September 25, 2025) - US Stock Market Outlook for Q4 2025.

Lieutenant-General Sir John Bagot Glubb (1978) - The Age of Decadence.

State Central Banking vs Private Central Banking | Wen Tiejun

Let's delve into the core reasons underlying the strategic confrontation between the People's Republic of China and the United States of America, as this unveils a significant systemic discrepancy: [...] The issuance of the renminbi (RMB) is fundamentally based on the authority of the Chinese government, specifically through the People's Bank of China (PBC). The basis for the issuance of the renminbi is definitely not gold. The reason this money is valuable is because it is a sovereign currency issued by the state and backed by state authority. Empowering a sovereign currency establishes credit. The currency creates credit, and the sole resource available is political authority. Thus, political authority, governmental power, and the administration in control align with the currency system.

Wen Tiejun (温铁军) is a Chinese agricultural economist and a professor at the Renmin

University of China, best known for his studies on the Three Rural Issues in Mainland China.

 

On the other hand, the source of the US dollar's credit is an institution established by private bankers, not a country. Pay attention, this difference matters: The US dollar is actually issued by an institution called the Federal Reserve. The Federal Reserve is neither an official entity nor a government institution; instead, it is an organization operated by private bankers. This particular organization possesses the authority to issue the national currency and determines the financial policy of the United States, which the government then implements.

 

 

» The root cause of global chaos is financial capital globalization, which is

supported by military hegemony. « Wen Tiejun's complete discourse video.  

 

This occurrence is quite rare across the globe, both in terms of nations and systems. In the majority of countries, it is the political power of the state that grants authority to its national currency, forming a sovereign currency. In a select number of nations, such as the United States, institutions are established by private banking entities, and the government subsequently enacts the policies of these private banker collectives.

[...] Therefore, throughout the extensive history of the United States, numerous influential presidents have attempted to reclaim monetary authority. All of them ultimately failed. Almost every president who was resolute in their determination to reclaim monetary authority ended up deceased, including the widely recognized Kennedy assassination. These events all share similar demands to restore monetary rights back to the government, yet none of these plans have been fully realized.

[...] China continues to maintain its national control over financial capital. For what specific purpose? In recent years, when China faced global crises and a decline in exports, the Chinese government mainly relied on national finance, investing in infrastructure that may not yield immediate profits. A straightforward example is the allocation of funds for the construction of roads and railways in rural, mountainous, and even desert regions. All these investments cannot be recovered in the short term, and it's also difficult to recover them in the long term. So, should we invest? We should, because if we don't, businesses will have no market and workers will become unemployed. On the other hand, the government would have to use its finances to pay for unemployment benefits. Rather than doing that, it's better to invest. 

» The United States exploits the world's wealth with the help of "seigniorage." It costs only about 17 cents to produce a 100 dollar bill, but other countries had to pony up 100 dollar of actual goods in order to obtain one. It was pointed out more than half a century ago, that the United States enjoyed exorbitant privilege and deficit without tears created by its dollar, and used

the worthless paper note to plunder the resources and factories of other nations. The hegemony of the US dollar 

is the main source of instability and uncertainty in the world economy. «

Ministry of Foreign Affairs of the People's Republic of China, 2023. 

[...] I perceive this as one of Trump's most proactive and forward-thinking policies—to focus on the advancement of infrastructure development. His most significant challenge is that the US lacks the so-called state-owned enterprises (SOEs) similar to those in China. Additionally, it doesn't have a state-owned banking system. China's system uses state banks to receive currency from the government, which is directly paid to state-owned enterprises. These enterprises then directly engage in infrastructure construction, maintaining China's economic growth and sustaining employment. The US uses private banks to issue more currency to buy government bonds, which then leads to a virtual capital expansion, with two hands shifting the crisis to the whole world.

[...] Analyzing this with American theory suggests China's state-owned banks and state-owned enterprises are inefficient. They don't provide tax revenue and occupy a large amount of capital. But just because financial resources are utilized doesn't mean nothing is produced. A significant amount of wealth is indeed generated, but this wealth manifests in the form of airports, seaports, train stations, highways, and high-speed railway systems. None of these investments can generate returns in the immediate short term. Consequently, a substantial amount of capital in China's state-owned banks is currently tied up. According to general free-market economic theory, those that can't be recovered soon should all go bankrupt. As long as you genuinely and sincerely execute what is purportedly stated in the media today, China's economy should have gone bankrupt long ago because its large investments can't be recovered quickly.

» I think he [US Fed chairman Jerome Powell] is a very stupid person, actually. «
Not-calling-the-shots POTUS, July 13, 2025.

 

[...] How Trump might approach the situation? He doesn't have China's methods. So, how will he do it? By relying on private bankers to reform America's railways? How long will it take to recoup the investment? Why would private individuals invest in rebuilding American roads and airports? Private investment is dropping. This is similar to what's happening in China: whenever there's an economic crisis, China's private investment decline is inevitable. So, how do you counter it? You have to rely on state investment to push it up. One goes down, the other goes up. That's how it is. 

 

» The US uses private banks to issue more currency to buy government bonds, which then 
leads to a virtual capital expansion, with two hands shifting the crisis to the whole world. «

 

A significant number of individuals are critical of China's system. I don't intend to imply anything else; I'm merely suggesting that you observe the actual impact. I also don't wish to defend this so-called closed system of China because I equally dislike this bureaucratic system, but it actually maintains the nation's foundational employment and crucial economic development.

  

Reference:
Wen Tiejun (2021) - Money, War, Supremacy: The Root Cause of Global Chaos. (video)

See also:
Ministry of Foreign Affairs of the People's Republic of China (2023) - US Hegemony and Its Perils. 

Stephen Mitford Goodson (2019) - A History of Central Banking and the Enslavement of Mankind.
Murray N. Rothbard (1994) - The Case Against the Fed. (the legal monopoly of counterfeiting)

G. Edward Griffin (1994) - The Creature from Jekyll Island. 

Eustace Mullins (1952) - The Secrets of the Federal Reserve.

Ezra Pound (1939) - What is Money for?