Welcome to Cognitive Dissidence.

This is Monica Perez of the Monica Perez show. Her way of geopolitics and empire.

And Mike of Parallel Systems Broadcast and the Parallel Mic Podcast.

And actually, I want to start with you, Mike, because you've been doing a lot of work on something that has been all over my mainstream feed anyway. The, what looks to be a very wobbly

sovereign debt situation, the U.S. yet again, downgraded by Moody's. I don't know how big a deal it is.

And sometimes I don't over worry, but when it's on the front page of the Wall Street Journal,

a couple of days in a row,

I got to wonder what's going on. So can you tell us it in a nutshell and then I've got some

questions for you? Yeah, for sure. You know, it's interesting, isn't it, that now we're starting

to see the mainstream media talk about things like a financial reset or a bond market collapse.

Just a few years ago, when I was talking about things like that, it really was fringe.

You know, if you were saying that stuff, you was a crazy, not-job conspiracy theorist.

But even Jamie Diamond of JP Morgan this week said that he expects the American bond market to crack.

And the other strange thing is you've got Scott Besson coming out,

constantly defending the US saying we're not going to default.

Just the fact that you've got to say we're not going to default tells us that something

serious is going on.

So I'm not sure if the pre-conditioning people,

but in essence, the bond market is starting to go through some serious problems. And I think the most

important thing for people to realize is that the bond market is the financial system, particularly

the sovereign debt. That's like the base layer of everything. So you've got the sovereign debt,

and that's how the Ponzi scheme works. You've got to keep adding more debt to pay for the interest and the capital on the old debt.

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