[AAABEST]

Jackasses will blame BRICS, but the dollar isn’t a safe haven anymore. It once was “almighty,” until we weaponized and devalued it with outrageous spending on warmaking and socialism.

Even doctors and PLUMBERS don’t want dollars, unless it’s lots and lots of them. Who can blame foreign investors for running away from it? I don’t want dollars, and get them out of the bank into something real as soon as possible.

Instead of getting mad at BRICS, dummies should start turning dollars into hard assets, becoming self sufficient and getting ready for MUCH less buying power, or even possible systemic failure.

Lowering tariffs on bananas won’t help much.

[Zhang Fei]

[Jackasses will blame BRICS, but the dollar isn’t a safe haven anymore. It once was “almighty,” until we weaponized and devalued it with outrageous spending on warmaking and socialism.]

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Sure it is. The dollar is unmatched for liquidity and market depth, courtesy of the US economy being the largest by 50%, and the most open, by far, of the big ones. People use the dollar not because it’s a protection racket or because they like Americans, but because it carries the least risk and the lowest transaction costs.

Asset freezes are normal in special circumstances. The US literally stole German assets in WW1 and WW2 for war financing. Not just money and real property. Patents, trademarks*, licenses - all were stolen. Germany, of course, did the same to US assets there.

* The Bayer trademark reverted to its German parent 70 years after being seized, in the US, by the government. It had to be bought back from its US owner.

[Zhang Fei]

[Jackasses will blame BRICS, but the dollar isn’t a safe haven anymore. It once was “almighty,” until we weaponized and devalued it with outrageous spending on warmaking and socialism.]

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The Swiss franc is a rock solid currency. It has appreciated against the dollar for decades. Why don’t foreign countries use the franc? Because it’s a small economy, and the franc foreign exchange volume is low. That means transaction costs are high as a % of the value transacted. The kicker is that the Swiss central bank, instead of paying interest on large foreign-owned holdings of francs, charges foreigners interest on those holdings. The Swiss do it to discourage foreign holdings, prevent the franc from appreciating further, making Swiss exports uncompetitive, whether it’s drugs, chemicals, machine tools or luxury watches.