>>715861118
The system "works" by funding previous debt with newly generated debt. This is intended to continue infinitely as long as the debtor does not default on their currently issued debt. Meaning they don't hit their debt limit and can continue paying interest and the principal of the loans. Of course, this comes at the expense of the populace, who bear the brunt of this money generation via inflation.
The system is ideally maintained globally by having a single hegemon (the US) enforce such a system centered around their currency. "Enforcement" in this context meaning threat of war and destabilization if your country tries to undermine the system (without possessing nuclear weapons).
Ironically, the system's insatiable quest for growth has led to its own undoing. By pursuing globalism to exploit cheap labor and mask inflation, formerly undeveloped countries have undergone the same modernization process as the first world. This allowed them to create their own regional spheres of influence, known as multipolarity. We are currently in an era where the great powers are being forced to scale back and stay in their own lanes.
