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I will never understand why the conservatives can't just be happy that they succeeded. They set out to damage the US's position in the world, damage its economy, and make government as dysfunctional/nonfunctional as possible, and that's exactly what they've done. Why do they then whine about the US's economy being damaged, government being dysfunctional, and its position as a world economic power being diminished.
Be happy. Take credit for the mess you set out to create.
And yet, we have a liberal extremist in the White House who won't negotiate with conservatives.
Our status of the world reserve currency is only going to go away, and it's only being accelerated by self-inflicted wounds.
Looks like we were lied to many years ago though via Propaganda, as usual.
We were told we won the cold war because Capitalism was Greater than Communism, when really it was the fact that we had the rest of the world to use as our piggy bank.
It is easy to keep spending other peoples money when you can print as you please and use inflation to spread the costs on to other countries.
Not a quip for Communism, but if loosing our reserve dollar will have that much a devastating effect on us, then what we have been told were lies in the past.
The current model we are under is in large part responsible for the situation we find ourselves in.
It is not competing capitalism full of innovation and new ideas and growth, but colluding corporate and banking interests seeking rentier income from everyone and buying up and shelving innovative ideas that may hurt their profit margins.
Eventually they run out of other peoples money to grow their ponzi schemes because the majority of Americans are tapped out.
85 Billion Dollars a month to Wall Street and for the top .5% and what does it have to show for the best interest of everyone in the nation?
Absolutely Nothing.
Your link is a good example of that, where these large Corporate and Banking Behemoths have colluded together and created their own little monopolies and no-one seems to have a problem with it. Collusion is not capitalist competition, something the Soviet Union was good for.
They are the problem. They have the political and monetary power over our government where they exist in a Jekyll and Hyde fashion as politicians one day and industry top dogs the next.
Shut it all down.
You have to include the municipal corps (govt) in there. They are the controlling shareholders and they are the largest machinery used for the heavy lifting. Govt is one of the most profitable industries on earth.
Well we do have the lowest MV in 40 yrs. We are in interesting times. Have We Reached Peak Federal Reserve?
The Tea party is not in freaking control of anything!
The Tea party does not run the federal reserve, does not control the state department, nor any of the various administrative agencies, and 0bama has not appointed the Tea party to any positions in government that decide US policy.
yup.... It's just amazing how the talking points are repeated by the faithful Obama cult.
Obama is on his second term and is not held accountable for anything, but the TEA Party is blamed for everything.
Obama's followers are like religious fanatics. Criticizing Obama to them is like criticizing the prophet Muhammad to a radical Islamist.
There cannot be a freaking default on the debt, unless 0bama chooses to not pay it. The debt is $20 billion a month, we bring in about $200 billion a month in tax revenue. Even the federal reserve is pumping $85 billion a month into the stock market, $20 billion is not something we cannot pay.
News flash! Raising the debt does not bring in any new revenue.
Congress can cause or allow us to default, but the Executive Branch has several other options if the S really looks likes it's going to hit the fan.
The President can use the 14th Amendment as a basis. And either the Treasury can issue the Trillion Dollar Platinum Proof Coins to the Fed. Or the Treasury can sell Treasuries directly to the Fed under the exigency clause. The former being more likely as the Fed has already stated a negative opinion on the coin option.
Status:
"everybody getting reported now.."
(set 22 days ago)
Location: Pine Grove,AL
29,551 posts, read 16,539,320 times
Reputation: 6033
Quote:
Originally Posted by KUchief25
You think these middle east wars are big you aint seen nothing yet. Obama has allowed this all to transpire. He should be iimpeached. At least Biden is an American.
"It also called for an end to the use of the US dollar as the international reserve currency, a step that would ensure the international community could maintain a safe distance from the side-effects of domestic political turmoil in the United States."
Central control corporate hierarchy is the model for the entire planet, including US. JPM and GS are part of a small group that control 80% of global wealth. They themselves are shareholder controlled via govt. The BRICS in general and China especially want more say-so and to protect their financial interest. I don't think this is surprising.
It is not, but they are powerless today. Maybe in a decade there might be palpable change, I just don't believe anything soon.
Blah, blah, blah. What happened the last time China called for the end of the US Dollar as a reserve currency? Nothing, thats what. Or how about the times when Russia called for the dollar's demise? Again, nothing. Or when China said it was going to start paying Russia in Rubles for it's oil? The dollar is still king. Saber rattling is easy, action is not. As another poster said, maybe one day, but not anytime soon.
China, Arab countries, and certain European countries have been trying to do this for over ten years.
For over 10 years these countries have been involved in a (conspiracy) to get the world to stop trading/buying oil in US dollars.
But Fox news and Rush radio never tells you about things like this. But somehow you heard about it, so you use it as a tool to attack Obama (when you know -0- about whats actually going on.)
This was going on before you even knew who B. Obama was.
No ****. That is why we go to war. Read my original post hero and get back to me.
When I was younger, I used to get all worked up over this stuff too. I considered my self an armchair economist, and would read all these articles and think that the world was always ending. But then it never did. Going back to the 90s, I bought a lot of gold (well, that part actually worked out well), and I waited for the dollar to collapse. Then I finally got tired of reading a bunch of hype that never really came to fruition, like the boy who cried wolf. So now I barely even pay attention to articles like this.
Eventually, somebody will be right. Maybe it will be you, and then you can tell me "I told you so." Or maybe you will get tired of it too...and then our kids will be right about it. Or maybe someone who knows what they are doing will get it right and there will be a smooth transition . Maybe the dollar goes out, not with a bang, but with a whimper. Who knows? I have stopped trying to figure it out. Now I just try to stay flexible and roll with the punches.
If you don't pay attention then why are you posting? I guess you are just mad you didn't hold onto that gold now? LOL
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We are in interesting times.
