Posted on 02/25/2019 8:14:54 AM PST by Olog-hai
Strongest sick horse in the stable of sick horses...
It wouldn’t be near as strong if we didn’t have a Navy.
So how did tax cuts add to the debt if revenue is up?
Not saying you’re wrong, but holy cow this is contrarian.
The least dirty shirt on the floor is not a clean shirt. But if you have to wear one, that’s the one you choose.
Same with the dollar.
You mean he demands respect instead of cow towing to every two bit dictator and mussie extremist?
More political hog slop from the New York Slimes.
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The ‘public debt’ of the USA is far higher than a mere $22 trillion.
That’s just the Federal debt! You throw in state and local debt and that number climbs to north of $40 trillion!
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Not even CLOSE. Add a ‘1’ to the front and maybe another few TRILLION via the illegal, unconstitutional, Ponzi schemes known as SS\MediXYZ.
How much was added when ‘student loans’ were Federalized? After O’Care?
Ah, but even the (R)N(C) love ‘em some Socialism+...they just think *they* can run it BETTER
If not the dollar, where else are you going to go?
Bitcoin!!?
There is still demand for the monopoly money USD only because the local currencies are even worse!
The world is awash in Fiat currency lies, and I’m still waiting for the reset.
Your post is the truth.
The only way for the little guy to protect himself from inflation is to have assets that rise in nominal price as the inflation proceeds.
Because: Petro-Dollar System
Saudi Arabia: Sparsely populated, so/so military, dire security needs
USA: Many people, strong military, needs world to use the dollar internationally for trade and as a store of value
The USA asked Saudi Arabia if it would please accept ONLY dollars in return for it’s massive oil sales. In return the USA would protect Saudi Arabia.
This arragement spelled the end of Bretton Woods.
The Petro-Dollar bargain keeps Saudi Arabia safe but it puts us at their beck and call —we also can’t expose just S.A.’s full role in 9-11, which was more serious than is commonly understood.
It also means that since the outside world mostly HAS to use dollars, the USA can continue to massively overspend; midnight basketball games, foreign aid, welfare, fat gummint retirement packages, etc.
If the world lost faith in the dollar, trillions of US dollars would flow back to the USA, resulting in massive inflation and total destruction of US national savings.
The era of cheap imports and massive overspending would be over and the US would have much less influence in the world; we would protest stuff and people mostly wouldn’t care.
It’s nice the US dollar is still King but how much authority do we have to refuse these many tiresome War Requests/Demands that people forcefully hand us..?
Less and less, as long as we don’t have our financial house in order.
We’re sort of like a harried, endebted waiter in a busy, chaotic restaurant, but with guns.
Don't forget the additional "missing" $21 trillion discovered by Dr. Mark Skidmore of Michigan State University, missing from the DoD and HUD, making the debt actually over $40 trillion.
The entire accounting apparatus of the US government is opaque and fraudulent.
The New York Times is part of that 'chorus' - doing their best to destroy a duly elected President - - they are sooooo obvious in their hatred.
Thanks for posting this.
How many times each month, the doom/gloom and end of America opeds are posted on Free Republic with our doomers and gloomers agree?
“But money tells a different story. The dollar has in recent years amassed greater stature as the favored repository for global savings, the paramount refuge in times of crisis and the key form of exchange for commodities like oil.
The enduring potency of the dollar gives force to President Trump’s mode of engagement. It has enabled his Treasury to find buyers for government savings bonds at enviously cheap rates, even as his $1.5 trillion worth of tax cuts added to the debt. It has reinforced Mr. Trump’s authority in imposing his foreign policies on an often-reluctant world by amplifying the power of his trade sanctions — especially against Iran and Venezuela.”
Krugman hasn’t had a sane thought, since he started his lies posing as economic theories.
Remember how President's Trump's tariffs on other countries would destroy us? How has that bs worked in the real world after he enacted tariffs on some countries and products?
How? Strongest economy in the world produced and maintained via capitalism, free markets, land, natural resources, oil, tremendous ability of wealth-building FREE people and corporations and all made possible by the grace of God.
I am arguing that the reset is a LOOOOOOOONG ways off
because nobody wants to risk not having a chair when the music stops. They have every incentive to support EVERY lie and keep the Jedi Mind Trick going.
I don’t suspect it will happen in my lifetime.
Outstanding summation of U.S. dollar dominance, sir.
Not to mention the fact that up until recently, oil purchases around the world were near solely conducted using the U.S. dollar, hence The Petro-dollar.
US debt growth went to sh1t in 1971 when Nixon de-coupled the dollar from gold.
Up until then, foreign countries could redeem dollars in their equivalent value of gold which up until 1971, was $35 / per ounce of gold.
BTW, an ounce of gold =$1330 at this time.
Gold did not go up in price as much as the dollar and other tethered currencies have de-valued since then.
Nixon sent Kissenger over to Saudi Arabia to make a deal that All OPEC oil trade was to be done in US dollars.
In return, the US promised back the SA Royal families without question.
The worm is turning - BRICS nations are turning toward using the gold backed Petro-Yuan for oil trade.
Someday the SHTF for the US dollar, and global financial reset will result in a digital unified world currency system likely linked to IMF SDR basket of currencies.
RE: “The dollar is king because it is the only pool of currency deep enough to handle $4 trillion of foreign exchange per day in the currency markets. No other currency comes close.
The depth of this pool is determined by the national debt. The more debt we create, the deeper the pool. Today there is an insatiable worldwide demand for dollars, and thus there is an insatiable worldwide demand for American debt.”
Educate me. Why is it that they can’t simply print more dollars out of air? Why is it they have to spend to create this? I understand that’s how banks create money when you acquire a loan but if we control the curreny why do we need to spend as a government?
(I really don’t know so that’s why I’m asking.)
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