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We are at a pace of detoriation of the US dollar. It is quite obious that the dollar at some point in time will no longer be the worlds reserve currency.
We produce nothing and import everything. We send our dollars for these goods, and the dollar is losing more and more value at a accelerated pace.
I was at a party today talking to a neighbor that recently moved up the street. I elaborated the situation about the dollar most likely losing its status in the next decade or so. He laughed it off and did not take it serious.
Why are people in denial that the ponzy show is over and we abused the power we were granted with?
The irony of it all is that the US is shooting themselves in the foot with the sanctions on Russia. That only accelerates the decline of the dollar.
UK had more manufacturing and less debt then. It's no coincidence that they lost WRC status after WW1 and WW2 where they accumulated a ton of debt.
Hmm, what country today also holds WRC status, used to be a manufacturing powerhouse, and is in a ton of debt due to constant wars? Hmm...
The first part of that is right but very incomplete. The UK was more or less driven to insolvency because of WWI and WWII but also because it woefully botched handling of a re-introduced gold standard during the interwar period and some head scratching inter-war and post war economic decisions like 90% income and "purchase" taxes on nice goods of 33.3%.
After WWII at Bretton Woods the USD was installed as the world's backbone currency.
After WWII everyone who paid attention, even the Brits, knew the $ was king. Maybe if we have another WW or two something will replace the dollar.
What does the U.S. currently produce in terms of significance?
USD's and they are demanded and supported by most of the world.
This whole idea of the US cancelling foreign holdings has to be due to reasons of national security. And I think any fiat reserve would do the same if necessary, in times of War for instance. We are not quite at war with Russia or Iran, but have to use that power. Otherwise we would in effect be supporting their war effort against us or the West.
So if you are the enemy or potential enemy of the US or the USD, beware. And that surely doesn't sound like anything new.
We are at a pace of detoriation of the US dollar. It is quite obious that the dollar at some point in time will no longer be the worlds reserve currency.
We produce nothing and import everything. We send our dollars for these goods, and the dollar is losing more and more value at a accelerated pace.
I was at a party today talking to a neighbor that recently moved up the street. I elaborated the situation about the dollar most likely losing its status in the next decade or so. He laughed it off and did not take it serious.
Why are people in denial that the ponzy show is over and we abused the power we were granted with?
What does inflation do to debt?
There’s your answer. America can get back in its feet from the debt it has taken on but it will cost their standard of living that was multiple times over the average human on Earth.
So, like, um, “inflation” is like bad and all except it helps pay off the debt quicker and all we have to do is, ultimately, cohabitate with multiple generations of family in much smaller homes while making all attempts to stretch what they do have.
The generally espoused figure is 70-80% drop of PPP. You’re going to have to learn to do more with less.
Or we go through a Great Reset Marxist revolution and see if those hundred million deaths by the last Marxist revolution were accurate.
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