Posted on 03/02/2022 11:45:14 AM PST by RomanSoldier19
zerohedge @zerohedge *POWELL: POSSIBLE TO HAVE MORE THAN ONE RESERVE CURRENCY
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(Excerpt) Read more at forexfactory.com ...
Powell is acknowledging that the USD is about to be kicked to the curb.
Well that’s not going to cause people to dump their dollar holdings. Not at all.
I’m surprised they would say this.
“Hey everybody, remember when we told you we wouldn’t monetize the reserve currency back at Bretton Woods?”
Exactly, get ready for the $ to be worthless in much of the world.
Exactly right. Go Brandon!
Powell is acknowledging that the USD is about to be kicked to the curb.
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Bingo! EverythingSenile Joe’s administration does either, 1) backfires 2) destroys America. Question is - by design ( intent) or stupidity? ( lack of qualified advisors). A legendary financial great just mentioned through his paid for subscription, walks us through the USD destruction , SWIFT was mentioned, sovereign currency ( US cashless system) all of which Senile Joe advocates.Senile Joe is an idiot.
It should have been kicked to the curb when Nixon took it off the Gold standard. It is a currency vestigial organ ever since.
Me too and IMO by releasing this Powell is getting in front of the coming story. The disinvestment in America is about to begin.
We are witnessing the purposeful destruction of the country. The little chickens in the GOP let them steal the President and the Senate. It’s sad to watch our country dismantled brick by brick.
This will cause the cost of imported goods to skyrocket—and since both parties have wrecked our domestic industrial capacity it will be decades before it could be remedied in a serious way.
Would benefit the US actually: no more cheap crap from China, natural resources would have to be produced here, US exports cheaper, would hurt the globalist elite trying to seal control of the US.
What better time to go FULL RESET? The focus of the nation is on RUSSIA! and even previously clear thinkers are now staring at the TeeVee screen and absorbing propAgenda.
This would assume we have a clear thinking political class entrenched in America.
Your post is correct in the long term, but the transition will be very long and very ugly—we could be talking a generation to recover—with a Great Depression as the transition.
I remember in 1990 during the build up to the first Gulf War how everyone thought that Saddam and his Iraqi army were going to decimate the Americans and then the US military methodically demolished the Iraqi army with smart bombs, drones, and stealth combat aircraft while a stunned world watched. A whole industry of anti-American prognosticators we're eating crow. That spectacle encouraged China, Russia, and every other nation of note to totally revamp their military doctrine and to pursue a high tech military. Today the results are clear and the world has caught up to us.
Mark my words, the world financial system is going to go through an upheaval as nations wage and economic warfare and defense with software, communications infrastructure, and laws.
Yeah…the U.S. government goes bankrupt, it doesn’t survive this.
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