Posted on 04/10/2022 5:20:34 PM PDT by delta7
Good. No more cheating by artificially reducing the exchange rate of mercantile powers in East Asia. We’ll have to make more here and extract more of our own resources. If the US elites try to stop that, they’ll simply be bulldozed out of the way.
Watch the dollar strengthen as the Fed begins QT. $95 billion a month, causing bond yields to grow - the mighty ruble and RMB will both weaken over the next quarter.
The Fed has one tool to cool inflation, interest rate hikes. Stocks will suffer. House prices will dip. Those who weren’t around for the Carter years will get to see how it felt back then.
Nice fantasy about reserve currency status - common among your group who cheer Russia.
Another trigger is that we have a mildly stupid President and we have been printing money mindlessly.
Given that the ruble is tied to gold, we will see a sea change in monetary policy.
You are correct. The US dollar as the reserve currency is an advantage that the Democrats have squandered away. Joe Biden has greased the skids.
“The ‘Crisis of the Third Century’ (235–284 AD) is most notable for its political disorders, a period when the empire was ruled by well over twenty men over a fifty-year period. However, this steady decay of the Roman state could also be tracked by the condition of its coinage, not just its politics. Though steady monetary debasement was a common and perhaps unavoidable feature of the Roman economy, it destructively accelerated during that period of crisis.”
And Rome never really recovered.
No Peace for Emerging Market Currencies as Mighty US Dollar Reigns
” We’ll have to make more here and extract more of our own resources. If the US elites try to stop that, they’ll simply be bulldozed out of the way.”
I hope you are right but I’m a big skeptic. It takes leadership to get us there and frankly we have not had leadership in many, many years. Look at the shape we are in now. The totally asinine decisions of the sanctions are just the latest of a long string of unmitigated disasters.
Frankly, I am beginning to doubt our way of governing and the structure of our society. Our path since the 19th century has been very spotty at best and we are heading toward a cliff if we don’t get it corrected.
I’m not smart enough to know the answer. But I do know that smarter people than I have told us that “insanity is doing the same thing over and over and expecting a different result.”
I guess there is always hope that we end up with the outcome you imply. That is one possible outcome. I shudder to think of the other possible outcomes.
Russia is the underdog in every respect.
But... They have been seriously preparing for this day for years.
What do you think BRICS is about? And which one of those nations is voluntary playing along with our sanctions? https://en.m.wikipedia.org/wiki/BRICS
Years ago, 2015 I believe, the Russians already required that all their federal employees not hold any foreign assets.
They made additional deals with China and planned to use Belarus as their back door (no sanctions on them I believe).
They know our game and they have been getting ready for this day.
We are the big boy, especially if all our European allies, Japan, S. Korea, Singapore, Taiwan and Australia stand with us.
We shall see what happens. I suppose the winner is the one that ends up less damaged?
Living by and inside the dollar world, the prospect of it becoming another Peso isn’t really appealing.
“The Dollar Dethroned: We Have Reached The End Of Monetary Policy.”
NOT A PROBLEM, as long as we ‘stick it’ to Putin on the way down.
Take the Federal debt and divide it — not by the U.S. population — but by the number of WORKING Americans. By my calculation, that comes to a debt of about $190,000 hanging over the head of every employed person in this country. A person entering the work force today is effectively obligated to pay off a mortgage, and doesn’t even have a home to show for it.
If you think “QT” to the tune of $95 billion per month is going to fix this disaster, I think you’re delusional.
“They know our game and they have been getting ready for this day.”
ROFLOL!! Oh so that’s why they held a paltry $132 billion in gold in country and all the rest of their reserves in Western banks in dollars and euros.
.
Good. No more cheating by artificially reducing the exchange rate of mercantile powers in East Asia. We’ll have to make more here and extract more of our own resources. If the US elites try to stop that, they’ll simply be bulldozed out of the way.
Oh, you don’t think they’ll “cheat” or “artificially” manipulate their new currency, to suit their needs??
Seriously?
And, clue to you….the elites ARE doing just that, stopping anything from being produced, here, right now. Who’s stopping, or, “bulldozing” them ??
They can’t raise interest rates. That’d mean government borrowing would be almost impossible. Also business investment would grind to a halt. Massive unemployment, private and public sectors.
So, the next step they’ll want is Digital Currency. So they can regulate every single transaction, and create money only for the compliant.
Great Depression II or Great Reset Slavery. Pick One.
What do you think would happen if Americans could no longer afford sneakers or TVs? The enormous fall in living standards would cause a political tidal wave.
Burn it all down. I have a sizable garden, a fishing rod, and a rifle. I’ll feed my family.
Russia doesn’t have the economy to back a reserve current. Neither do the chicoms and that will be evident to the world sooner than later. The chicoms couldn’t even muster the gravitas to strike out on their own delusion while the world was occupied by the petulant dwarf’s antics in corruptocrat Ukraine. They know that even with the decrepit pedophile fraud in the white hut, they would have gotten their asses handed to them by the combined forces of Eastern nations, likely lead by Japan which would wake up the next day with a host of nukes and bad attitude.
So no, they can chatter all they want, where do you think the elites are going to put their money where they believe it will still exist the next day? Who here would trust their money in a chicom bank?
Maybe some day there will be a problem, but not now, it any time soon.
Bitcoin billionaires pushers are pushing this.
Funny. Only one billionaire did anything worthwhile to help the Ukraines. These billionaires are as useless as the governments they despise.
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