One of my more recent reports!
See the original article below:
Josh Sigurdson talks with author and economic analyst John Sneisen regarding the recent development out of Algeria as the country issues helicopter money.
Algeria's economy has been weakening due to low oil revenue and a massive budget crisis, so the government has decided to borrow directly from the central bank while avoiding international debt markets which is an odd differentiation from most countries where helicopter money targets banks instead.
Well Ben Bernanke would be proud!
Algeria, an OPEC member has seen its government debt to GDP go from 8.8% in 2015 to 20.4% when last officially noted in 2016. Their current account to GDP is at about 13.5% when last officially noted in 2016.
As John Sneisen notes, it's likely that Algeria is heading towards a hyperinflation scenario and we could very likely see even more collaboration from the IMF which of course will result in more debt and more global subservience.
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