Mark Carney -- Governor of Bank of England -- World needs new reserve currency. (unemployment, weapon)
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That you wasted your time touring other nations polling the local populace about whether or not they trust the US.
Believe it or not, I give you more credit than that.
Waste my time? No, my viewpoints are not singularly myopic on the USA, and I understand that there is more to the world than America. The countries I visited the people gave their opinion without be encouraging that discussion; you really have no idea how much damage this president has done. Nor do you want to know, but it will cause problems for decades.
Under Obama the unemployment rate fell from 9.9% to 4.7% (a decrease of 5.2%)
Under Trump the unemployment rate fell from 4.1% to 3.7% (a decrease of 0.4%)
During Obama's time in office the stock market rose from 6,547 to 19,762 (a increase of 13,215 points.)
During Trumps time in office the stock market rose from 19,762 to 25,444 (a increase of 5,682 points.)
Who cares what foreigners trust or not. What makes them so trustworthy?
Because the world has always had trusted allies and customers.
Do you really think that the USA has much to offer to the world for goods that are not available elsewhere, often at a much better quality and price? Do you really want to be so insular because no one trusts you anymore? Don't you see how that weakens America?
As a Canadian, I know that if Canada makes a treaty with the European Union, that it will be honored. As a Canadian I know that our resources are needed by many countries, and although the USA is our large trading partner, it has become less and less reliable. Europe had become more reliable. It harms both Canada and the USA that the trust is eroding.
Canada is the largest buyer of USA goods at this point. Mexico is second, and China third.
Rounding out the list of America’s top trading partners in terms of U.S. export sales, the following ten countries ranked highest in 2017.
Canada: US$282.5 billion (18.3% of total US exports)
Umm no, the world needs more gold backed currencies that are actually backed by something beside good intent.
If you want the most manipulated currency in the world, go gold!
That way we can price fix our way out of anything, right? It's not like literally anyone can just mine gold, flood the global economy and massively devaluate (or vice-versa) the entire affair.
Bank of England Governor Mark Carney said the world’s reliance on the U.S. dollar as a reserve currency is too risky and proposed a new digital currency to replace it.
I don't think they have ever talked about the instability of the USA dollar before.
WOW.
This isn't something to happen in the short term....but it shows how other countries are changing views on the USA and its role in the world.
The USG can't allow that to happen. One of the two reasons why the USG waged a war of aggression against Iraq was Hussein's threat to the hegemony of the dollar. Dollar hegemony is how the US Empire extracts tribute from the rest of the world. And dollar hegemony is the only downside for any State that might consider seceding from the union.
Wouldn't it be glorious? It would be like Robert Tainter's description of the fall of the Roman Empire: the greatest tax cut in history.
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