Posted on 03/02/2022 11:45:14 AM PST by RomanSoldier19
Powell knows that the dollar is bout to puke. But, damn….that’s like talking trash about your wife in public.
Well, when the money changers take a bit of every transaction automatically…it makes tax day a lot easier.
No link to what he actually said, so it can be put into context.
About what is to be expected.
The US wants to implement a digital currency. They are so willing to get rid of the paper dollar.
Yes. At the behest of Klaus/WEF.
All Part of The GR Plan™
I found it because the original blogger is too stupidly lazy to post the question by C. Mahoney and reply by Powell. Sorry it’s in all upper case on C-Span.
Mahoney - “THANK YOU. IF IT HAS BEEN ANNOUNCED AS A RESULT OF THE UKRAINE WAR AND OTHER DISAGREEMENTS THAT RUSSIA AND CHINA ARE NOW MOVING TO TRADE COMPLETELY IN THEIR CURRENCY AND NO LONGER USING THE DOLLAR, AND PAKISTAN IS MEETING WITH RUSSIA AND THERE’S SOME TALK THEY MAY BE PART OF IT. WHAT AFFECT WOULD THAT HAVE ON THE U.S. ECONOMY IF CHINA AND RUSSIA NO LONGER USE THE DOLLAR IN CERTAIN BLOCK TRADES AROUND THE WORLD AND WITH EACH OTHER, WHAT AFFECT WOULD THAT HAVE ON OUR ECONOMY?
Powell - WELL, WE DO BENEFIT FROM BEING THE RESERVE CURRENCY AND THE MAIN CURRENCY FOR THE WORLD AND THAT’S BECAUSE WE HAVE OPEN CAPITAL ACCOUNTS IN THE RULE OF LAW, AND WE HAVE INFLATION OVER A LONG PERIOD OF TIME UNDER CONTROL SO THE DOLLAR PRESERVES ITS VALUE, SO OUR MARKETS ARE THE MOST LIQUID AND IT’S THE PLACE PEOPLE WANT TO BE. OVER TIME THE QUESTION IS, IF SOME WANT TO MOVE AWAY FROM THE DOLLAR WHAT WILL BE THE AFFECT ON US? I DON’T THINK IT’S SOMETHING THAT YOU WOULD FEEL OVER TIME, AND THEY WOULD HAVE TO CREATE AN EKE YO ECO — AN ECONOMIC ECOSYSTEM WHERE THERE BECOMES A BETTER CURRENCY FOR THEM TO USE. WHAT WE CAN DO IS WE CAN MAKE THE DOLLAR THE MOST ATTRACTIVE CURRENCY BY MAKING IT ATTRACTIVE FOR PEOPLE TO INVEST. THERE WOULD NOT BE A SHORT-TERM AFFECT, BUT OVER TIME IT WOULD DIMINISH OUR STATUS AS THE RESERVE CURRENCY. IT’S ALSO POSSIBLE TO HAVE MORE THAN ONE LARGE CURRENCY, AND THERE HAVE BEEN TIMES WHEN THAT WAS THE CASE. SO IT’S NOT REALLY CLEAR.
Re: 45 - As expected, the stupidly lazy blogger referenced in the original post did not put the comments in context before he blasted out “Possible to have more than one reserve currency!”
What a stupid blogger.
Yep.....When the world went after Russia’s banks and financial Institutions my first thought was.....We’ll all soon be doing transactions with digital currency. ...and whoever controls the internet can control the flow of money.
Here’s the text from C-Span without being in all caps:
Well we do benefit from being the reserve currency and the main currency for the world and that’s because we have open capital accounts in the rule of law, and we have inflation over a long period of time under control so the dollar preserves its value, so our markets are the most liquid and it’s the place people want to be.
Over time the question is, if some want to move away from the dollar what will be the effect on us? I don’t think it’s something that you would feel over time, and they would have to create an economic ecosystem where there becomes a better currency for them to use.
What we can do is we can make the dollar the most attractive currency by making it attractive for people to invest. There would not be a short-term affect, but over time it would diminish our status as the reserve currency. It’s also possible to have more than one large currency, and there have been times when that was the case. So it’s not really clear.
“They are so willing to get rid of the paper dollar.”
They have no other choice. Literal Reset of the world economy. Most everyone will buy what Central Bankers choose, at their set prices, or you won’t eat.
Unless the parallel economy.
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