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It has everything to do with it, but I'm not surprised by your need to ask over it. The status of the US in international trade and finance is DIRECTLY related to the size of our economy and to our long history of deep involvement as a global player. As I have had to point out repeatedly here, globalization has been around for centuries. Our status meanwhile has nothing whatsoever to do with imaginary meddling oligarchs or other supposed satanic string-pullers.
So much for your hand waving. Currently global trade is ~7x greater than it was in 1960 and climbing. And in the US it's gone up by a factor of >12:
Exactly what do you think you are contradicting? Globalization is a centuries-old given in economics. Go around denouncing Marco Polo if you'd like, but the facts of the matter here are not going to change.
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Originally Posted by rruff
Since you keep not answering the question, I'll ask again. What has "important dollars" done for us?
You would prefer that US dollars were insignificant, I suppose? We are an important economic power in the world PRECISELY because of the size of our economy and the degree to which we have and still do participate in international trade. Pick up a book. Take a course. None of this is being kept a secret.
Exactly what do you think you are contradicting? Globalization is a centuries-old given in economics. Go around denouncing Marco Polo if you'd like, but the facts of the matter here are not going to change.
Whats new is that there is 7x more of it going on than 50 years ago. Scale and relevance. You understand these things when they suit your argument.
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You would prefer that US dollars were insignificant, I suppose? We are an important economic power in the world PRECISELY because of the size of our economy and the degree to which we have and still do participate in international trade.
Why do you suppose that? You are the one who is stating that the "importance of the US$" is a good thing. So once again, what has it done for us? It hasn't made us richer, that's for damn sure. Did we get some other benefit?
Why do you suppose that? You are the one who is stating that the "importance of the US$" is a good thing. So once again, what has it done for us? It hasn't made us richer, that's for damn sure. Did we get some other benefit?
For instance everything that China sends us, paid for with USD fiat is essentially found wealth.
China send us stuff we want and what they want to sell.
We get what we want in real goods without having to use our resources and spoil our own environment while doing so. They get our fiat, which we essentially conjured out of thin air.
And at a savings, for gosh sakes!
Even Henry Hazlitt knows the advantages of imports:
We get what we want in real goods without having to use our resources and spoil our own environment while doing so. They get our fiat, which we essentially conjured out of thin air.
They can't do anything internally with dollars. Exporters off-load them to the central bank for Renminbi. The People's Bank then has the options outlined earlier. They can use dollars to finance imports from the US, to finance imports from third countries willing accept dollars in payment, or to finance the purchase of dollar-denominated assets.
And of course, all currencies today are fiat currencies conjured out of thin air.
The dollar lost it's value when Woodrow Wilson allowed the Federal Reserve to charge the USA to print our money. The Federal Reserve is not a USA government agency but zionists that run our whole banking and political system. The Federal Reserve dictates our interest rates also. No reason to save money in a CD when the rates are .10%. We spend 2/3 of federal income tax to support our military who fights wars for the zionist bankers. Remember Vietnam War? A total lie that Vietnam attacked the USA. A war for profit created by our government and backed by these zionist bankers AKA Federal Reserve. By the way 58,000 USA soldiers died for that lie to increase their profits.
They get our fiat, which we essentially conjured out of thin air.
The same fiat, phoney, conjured out of thin air US$ that you been paid with your whole life. If they are worthless, then why do you accept them as payment, and why does everyone else?
Let me see... since we embarked on this great adventure with China, their economy has grown faster than any in world history, while ours has sucked... flat wages and huge debt escalation with nothing to show for it.
Do you think you might be missing something? If you are interested I'll give you a short lesson.
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