It sounds like what he wants to do is create an investment product for people with savings. So instead of having it on your bank account you give it to the EU / member government to invest. The idea is then that it is wisely invested and thus creates profit that can be payed back as interest. So not that radical. The fact that they resort to this of course is another indication that the sanctions are backfiring immensely, but to me it doesn’t sound like the apocalypse.
Edit: although the fact that he keeps rambling on about AI makes me think a lot of Western European upper middle class families will loose some of their savings after the money disappears in some kind of AI Blockchain scheme. Or more realistically they get their savings + interest but governments need to cut healthcare spending to cover it.
Yeah, it is. The thing is 35000 billion euros is a lot of money and can absolutely improve Europe's manufacturing capabilities, and fund social programs for people. The problem is he's talking about going into "European's savings" which I have no idea what he means. I'm under the assumption that they'll start taxing savings, bc just taking people's cash is too extreme.
Correct me if I'm wrong, but in this instance, it sounds like the system is collapsing really hard on itself???
It sounds like what he wants to do is create an investment product for people with savings. So instead of having it on your bank account you give it to the EU / member government to invest. The idea is then that it is wisely invested and thus creates profit that can be payed back as interest. So not that radical. The fact that they resort to this of course is another indication that the sanctions are backfiring immensely, but to me it doesn’t sound like the apocalypse.
Edit: although the fact that he keeps rambling on about AI makes me think a lot of Western European upper middle class families will loose some of their savings after the money disappears in some kind of AI Blockchain scheme. Or more realistically they get their savings + interest but governments need to cut healthcare spending to cover it.
Yeah, it is. The thing is 35000 billion euros is a lot of money and can absolutely improve Europe's manufacturing capabilities, and fund social programs for people. The problem is he's talking about going into "European's savings" which I have no idea what he means. I'm under the assumption that they'll start taxing savings, bc just taking people's cash is too extreme.