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I see the PC left are having a bad hair day. You got what you wanted. Obama wanted the USA to be the newest 3rd world country. You got it...... This is what Obama wanted all along too. Great going! Way to go you stupid morons!
Lined up like dead ducks no less. Wilson FDR JFK LBJ Carter LOL Clintoon O bomer friggin jokesters. It's ok I saw this day coming a long time ago. I am well supplied with guns ammo and bibles.
Anyone who bothers to read me should book mark this if not print out several copies
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."
First of all, this is what happens when the world watches conservative extremists in the House decide to use the threat of default as a negotiation tactic for their extortionist demands that they don't otherwise have the political support to carry through. Compound that with conservative simpletons who get on the news and say idiotic things like, "well, it doesn't really matter if we hit the debt ceiling," and you get why they are nervous about America. You guys own this 100%. You've been told a hundred times that you should pass the extension and not play games with the full faith and credit of the USA for your narrow political purposes, you didn't listen. Now only an idiot would choose tactics based on the threat of default and then blame others for their own choice.
Second of all, you should at least be embracing this based on your stated goal of spending reduction. When this happens (and it is only a matter of time), the USA will rapidly lose its superpower influence. The world will no longer need to flock to US treasuries as a safe haven, and that means that we will have to pay much higher costs to borrow. That means that spending won't keep on its current level. Entitlements will be reduced, but the true 800-pound gorilla that will finally get whacked WILL be the military - we simply won't be able to afford military bases in just about every nation anymore. The US will rapidly lose dominance, and you will finally have the reduced fiscal footprint you were looking for. But it's ok - the history of other nations suggest that they can still have reasonable standards of living once they lose their empire status. The other silver lining is that .
With the benefits of reserve currency status comes responsibility. The US Congress - chiefly the conservatives, but really most of them - have shown themselves to be reckless with that responsibility, and so it would honestly be best for the USA and the world that the USA should lose this status.
It's not the existence of the debt, it's how we are handling it.
When the U.S. acts as though we are not in debt, and continues to spend and rack up more debt, other countries wonder about our ability to pay them off - especially when less and less people are working and producing taxes and the government continues to spend more and more money.
When the U.S. continues to print themselves money to stay afloat - at some point, other countries wonder - what are you really paying me with? If you are simply printing paper and paying us - what is the real value?
Our currency will be rendered useless by other nations, and reserve currency status will be removed. That's when the trouble accelerates for us.
The OP's link about China said (nothing) about America printing money.
The link explains how China is upset about its US currency loosing value, and the link also explains how China does not like the war/torture policies of Americas political right.
China states its US currency is loosing value because of US debt, our dysfunctional government, and a government shutdown that could cause the US to default on its debt (thus decreasing China's US currency value even more.)
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."
The main reason for their comments is the fact that the Congress is telling the world that we will probably NOT honor our promise to pay our investors. Unfortunately this is the second time this happens in a few years, so I am not surprised the investors leave us.
Increased deficits do not necessarily lead to a devaluation of the currency. The value of any currency is not directly related to that countries overall debt.
Saddam Hussein and Iraq were also about to stop trading oil in US currency, and that never happened either. But if we never invaded Iraq it would have happened. And many people believe this is one of the reasons why we invaded Iraq after Sept 11 (Iraq had nothing to do with Sept 11.) There are many very high ranking US government officials in the following documentary.
The US dollar has been the world's reserve currency, and when any country buys/sells oil those transactions are always handled in US dollars. But perhaps in 2013 the US dollar was stopped from being the worlds official reserve currency?
For the last 10 years countries like China, Arab countries, Russia, South American countries, and other European countries have been trying to change the worlds official reserve currency away from the US dollar.
And a country's debt level strongly determines the value of its currency, and large deficits ultimately get transferred into debt. And your last source clearly state this.
Look at it this way. Imagine there are 2 identical US households with 4 family members each. Each household makes $100,000 a year. One of these households has -0- dollars in bank loan and credit card debt. The other household has $400,000 in bank loans and credit card debt.
Which household would banks, credit card companies, and business partners have more faith in to continue to be able to conduct good business with?
Any business partner or bank would be scared to do business with the household with $400,000 of debt, they would all choose to business with the family with -0- debt.
The above holds true with countries as well, and when a country has high debt it scares other countries from doing business with them. And a country with very high debt ultimatly sees its currency value decrease because other countries become scared of doing business with them.
The last source you listed clearly states that "Budget deficit and national debt" decrease the value of a countries currency its listed as #4.
Saddam Hussein and Iraq were also about to stop trading oil in US currency, and that never happened either. But if we never invaded Iraq it would have happened. And many people believe this is one of the reasons why we invaded Iraq after Sept 11 (Iraq had nothing to do with Sept 11.) There are many very high ranking US government officials in the following documentary.
It did happen, and our troops were quick to seize the oil ministry and change it back to USD.
Saddam Hussein and Iraq were also about to stop trading oil in US currency, and that never happened either. But if we never invaded Iraq it would have happened. And many people believe this is one of the reasons why we invaded Iraq after Sept 11 (Iraq had nothing to do with Sept 11.) There are many very high ranking US government officials in the following documentary.
The US dollar has been the world's reserve currency, and when any country buys/sells oil those transactions are always handled in US dollars. But perhaps in 2013 the US dollar was stopped from being the worlds official reserve currency?
For the last 10 years countries like China, Arab countries, Russia, South American countries, and other European countries have been trying to change the worlds official reserve currency away from the US dollar.
And a country's debt level strongly determines the value of its currency, and large deficits ultimately get transferred into debt. And your last source clearly state this.
Look at it this way. Imagine there are 2 identical US households with 4 family members each. Each household makes $100,000 a year. One of these households has -0- dollars in bank loan and credit card debt. The other household has $400,000 in bank loans and credit card debt.
Which household would banks, credit card companies, and business partners have more faith in to continue to be able to conduct good business with?
Any business partner or bank would be scared to do business with the household with $400,000 of debt, they would all choose to business with the family with -0- debt.
The above holds true with countries as well, and when a country has high debt it scares other countries from doing business with them. And a country with very high debt ultimatly sees its currency value decrease because other countries become scared of doing business with them.
The last source you listed clearly states that "Budget deficit and national debt" decrease the value of a countries currency its listed as #4.
Anyone that compares personal, business or credit card debt to debt issued by monetarily sovereign nations in their own currency has to know that they are comparing apples to bananas. And since most people and pols in our world don't understand the difference, the reality is that nonsense rules the day. So yes, ignorance can indeed influence the value of the USD.
I see the PC left are having a bad hair day. You got what you wanted. Obama wanted the USA to be the newest 3rd world country. You got it...... This is what Obama wanted all along too. Great going! Way to go you stupid morons!
Lined up like dead ducks no less. Wilson FDR JFK LBJ Carter LOL Clintoon O bomer friggin jokesters. It's ok I saw this day coming a long time ago. I am well supplied with guns ammo and bibles.
Anyone who bothers to read me should book mark this if not print out several copies
Why thanks for asking. And Just fine, but red commie china hasn't made any new orders for any machines in the past 9 months. Since i had vision I put a little something aside. The IRS has questioned that, but silence is golden not gold.
And you? Do you have plenty of govt cheese? Your a' gonna' need it...
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