#208 - Ann Pettifor - "A $40 Trillion Debt Crash Is Coming”

Ann Pettifor is a world-renowned political economist, author of The Production of Money, and former director of the Jubilee 2000 campaign, which successfully mobilised millions to cancel over $100 billion in sovereign debt for developing nations. Correctly predicting the 2008 Great Financial Crisis in her 2006 book The Coming First World Debt Crisis, she has spent decades exposing how unregulated global finance, central bank printing and Wall Street speculation starve the real economy of productive investment.

Ann and I discuss how a grassroots army of ordinary citizens forced Gordon Brown and Tony Blair to cancel third-world debt, the reality of commercial and central bank money creation and how Richard Nixon’s 1971 decision to sever the dollar from gold handed total economic control to global financial markets.

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TIMESTAMPS:

00:00:00 - They Are Never Going To Repay

00:01:22 - How To Cancel $100 Billion Of Debt

00:06:50 - Germany Had Its Debt Cancelled In 1953

00:10:12 - Arms Dealers, Dictators And Guarantees

00:13:40 - Creditors Love An Empty Balance Sheet

00:16:42 - Where Money Actually Comes From

00:17:30 - We Entered The Number Into A Computer

00:19:24 - Debt Is A Function Of A Weak Economy