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This is a generalization. I felt a lot like Taggerung 15-20 years ago.
And the keys that changed me have to do with my study of debt and money and foreign exchange.
Sovereign debt is very different from personal or business debt.
Fiat money is very different than PM or PM based currency.
The whole world uses and needs the USD and USD denominated debt paper. And there is no other currency around to supplant it.
Gold as a global currency makes much less sense. It has to be physically secured and stored. Transfer is not easy or efficient. There is limited supply, and that supply is too easily controlled.
I agree ...if none of this was working we would have seen the likes of the Great Depression years ago after 2008 .... we are a whole lot less bad today then we were in 2008 .....the dollar is still very strong
I agree ...if none of this was working we would have seen the likes of the Great Depression years ago after 2008 .... we are a whole lot less bad today then we were in 2008 .....the dollar is still very strong
It is. It would fail if we fail as a nation. It would stress if some nation or other entity gave the world a better currency deal. IMO in 100 years we will have the USD and probably the same other reserves as today, and maybe possibly the Yuan. For a generation already I've been pitching the Yuan that it will be a reserve within a generation. In 100 years there will be plenty of global economic room for the USD and the Yuan.
Fake money and debt -Not a good habit to develop
However if economy comes back and the riots are controlled- I think we are going to see a very different America in 4 years- more solvent, more work oriented, more conservative and most important- better paid
Now that we’ve successfully invented the free lunch and discovered an endless supply of cheap oil the next item on the agenda is a perpetual motion machine.
Now that we’ve successfully invented the free lunch and discovered an endless supply of cheap oil the next item on the agenda is a perpetual motion machine.
There is potentially free lunch through the Fed if there are significant unmet national needs, and if there are available/unused resources and labor. It might be that China has accelerated its move toward the first world using such policy on a grander scale:
They have been doing so for such a long time. Well not at the current denominations, but proportionally, they have been creating money after money since FED creation.
Only if The Fed runs out of ink....They can keep printing more money so income keeps up with inflated prices...The only ones who will lose are those left holding paper someday when The Empire collapses..and, at that point, we'll have more troubles than just holding worthless paper....(Mark Twain wrote about prices in terms of mils-- 1/100 of a cent.)
It's like playing musical chairs with one chair for every player. You can keep going as long as the band can keep playing.
When have incomes increased when FED prints more money? Any increases usually has nothing to do with FED action. Seems most of new money goes to bankers. They then do what they want with it.
In modern banking ‘money’ and debt are identical, there is typically no capital reserve. Governments via central banks can emit debt and will into existence any amount of “money”. But carrying debt has a cost, the interest payments, and that added vig is by nature an exponential function. History shows that governments have a poor record when it comes to dealing with exponential functions.
Govt should create money without owing/indebted to third party. Govt should have monopoly on violence, and its own currency.
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