Posted on 01/24/2025 7:58:55 PM PST by SeekAndFind
,,, it wasn't hairdressers or cab drivers who got us to this point. The Fed has always looked in the rear view mirror and driven with a good degree of false confidence.
Scott Bessent has a strong chance.
Yes, yes he can
Yes.
If President Trump can DownSize_DC and at same time rally industries inside the USA to expand and compete, YES it can be salvaged.
Why?
No other nation has our strength.
We have a lot of petroleum and other key ingredients.
Hes at leasttrying to peg it to a tangible resource again that has demand and inherent value
American Oil
US oil-backed Petrodollars
I mean, theres no one anywhere else with any plan they’ve put out there and believe in that isn’t grossly controlling and one world orwellian...
I don’t know but I hope he gets rid of pennies. Round up or down to the nearest nickel. I think Elon Musk is going to recommend this.
Because America is by far the greatest nation in the world the dollar is inevitably strong.
BRICS fantasies become more deluded by the day.
There is no other national currency that people would trust like the dollar.
It would always be rounded up; it would never be rounded down.
We’ll pay more, as usual.
Keep the penny through the semi-quincentennial. The Mint(s) should make a lot of money selling mint sets.
hello gold standard!
The piece is long on qualitative opinion, but short on quantitative analysis, typical of libertarian autology.
I have a problem with gold as the magic fix for a productive economy, as the sole basis for a currency. Wealth invested in precious metals stored in a vault produces NOTHING; it is deflationary by definition. Worse, those countries blessed to have mineral resources are then, by definition, wealthy, never having done anything to build real wealth. That weal is made fungible by extracting it from the earth with every incentive to cut corners that damage the lands from which it came, a process that is not making the earth more productive.
Somehow, this ties in to AI as the ultimate in replacing labor with capital. If we don’t find something that is a replacement for that outlet for human endeavor, we’re in trouble there.
The problem with land productivity as a basis for wealth is the lack of objective and quantifiable metrics. An active soil microbiome has a million species in a teaspoon, with miles of fungal fibers. Productive soil is the foundation of civilization itslef. To me, quantifying and characterizing these systems is a holy grail of biology, right up there with the human gut microbiome.
So in these ideas I see a potential confluence of principles worthy of synthesis for the land’s sake and ours. Somehow, to me, it beats bitcoin. I’d enjoy betting this around a bit later, but right now it’s Shabbat, I’m really tired, and my dog needs dinner.
I doubt it. When I was stationed in England in the 1970s we didn't use pennies. The reason was that pennies could be sold to the blokes (British) for more than one cent each.
Transactions ending in 0, 1, 2 rounded down to 0. Transactions ending in 3, 4, 5 were rounded up to 5. We never missed the pennies, and that was 50 years ago.
Was that a military PX?
I doubt if it will be rounded down in the good ‘ole U.S.A.
Different situation than the British looking for a collectible.
Go back on the gold standard.
Nixon changed it by Executive Order in 1971; Trump could rescind that order.
Our dollars have lost most of their purchasing power since 1971.
This is what I wish Trump would come to understand. He tends to wrap himself in what he sees as symbols of American might, but in this case his embrace of the dollar involves knee-jerk support for a weaponized tool of the globalists to undermine and impoverish productive Americans. It would be better to let the dollar die so long as the alternative (such as a BRICS currency) wasn't worse. My money remains on Bitcoin as the best, most politically neutral and incorruptible alternative.
Well put.
>> I think Elon Musk is going to recommend this
I believe he did
Guessing this would only be a currency matter
BTW, tax form entries typically round to the nearest dollar
Good post.👍
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