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Transcript
00:00Imagine a world-famous casino, where players from all over come to gamble.
00:04The casino has special chips that everybody trusts, and soon, these chips become so accepted
00:10that people start using them for games outside the casino in their own personal games at home.
00:16Now, to keep the system going, the casino has to keep handing out more chips than it takes in,
00:23running at a loss, so that everyone always has enough chips to play with.
00:28But here's the catch.
00:30The more chips the casino makes, and the more its debt grows, at some point, players might
00:35start wondering, are these chips worth as much as they used to be?
00:39What if other casinos make their own chips, and what if the other players actually start
00:43using them?
00:44And that's exactly what's happening with the US and the dollar.
00:47Eventually, players might stop using the US chips and switch to another casino's.
00:53Of course, in this analogy, the casino chips are the US dollars, the Las Vegas casino is
00:58the US economy, the poker players are other countries who rely on our poker chips, and
01:03the casino running at a loss is the United States running a trade deficit.
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