Posted on 08/28/2022 3:32:32 PM PDT by C210N
Thanks for the sane post.
“Algeria, Indonesia, Mexico, Nigeria, Pakistan, Saudi Arabia, Sudan, Syria, Turkey and Venezuela”
All $h#@hole countries, as President Trump would say.
As long as China wants to run a trade surplus with the US they will need to peg the Yuan to the dollar to maintain parity in the exchange rate. The US trade deficit, floating exchange rate, and strong dollar allows US consumers a higher standard of living than those countries that depend on trade surpluses. Trade demand forces the exporting country to produce goods and services they can’t consume locally making them less available and more costly to their citizens.
China’s wage rates are steadily increasing and they expect to be a net importer (trade deficit) in the near future. They will also need to drop the dollar peg on the Yuan and float their exchange rate allowing their currency to reflect China’s true productivity relative to foreign countries which is not the case now.
Yup
But most places run fiat currencies
It all end up badly
Especialy when you also employ fractional reserve lending, ie creating 98% of your money out of thin air
With this kind of money creation taxes are unnecessary, its just a punitive weapon, and former fed reserve folks have said as much
[To the contrary, Saddam contained Iran and radical jihadis. That’s said, Saddam was a terrible guy, no doubt…]
https://www.theatlantic.com/ideas/archive/2018/11/isis-origins-anbari-zarqawi/577030/
Similarly, Syria’s Assad encouraged jihadists to go to Iraq to fight the Great Satan. They got a ton of experience, which came in useful when they turned their attention to him.
And the Dow futures are already down another 300 points, after a 1,000 pt nosedive on Friday. Black Monday?
Looks like the old Soviet economic alliance from 1960-1990, but this time run by China.
Sorry, dear, but even if partially true, your post ignores some important aspects of the dollar as a reserve currency.
First, it allows feds to export inflation, hence ruble and rupee aren’t always in a good shape, and not because of the fact that their fiscal authorities are less disciplined than that of the US.
Second, dollar is indeed a yoke at this point. The weaponization of commerce by Congress makes literally anything else preferable to it as a tool of international commerce. Who wants to trade in dollars when they can be frozen in any given moment? The same is true regarding US-sourced goods and services.
There is a cost in having a reserve currency, true, but it is going to be much costlier to lose it.
They'll just end up better off. Everyone on sanctions does.
[First, it allows feds to export inflation, hence ruble and rupee aren’t always in a good shape, and not because of the fact that their fiscal authorities are less disciplined than that of the US.]
“BRICS: Russia & India No Longer Need U.S. Dollar”
Take that, Putin!!!
Right… founded ISIS in Iraq after we whacked Saddam, not during his reign. There was no ISIS, no Al-Qaeda, etc. In Iraq under his rule. Yeah, every blue moon Saddam played to the sensibilities of Islamic radicals, but even then, rarely.
Further, Saddam absolutely crushed any Shia opposition, specifically the Al-Sadr factions (which became the Mahdi Army, again, after we removed Saddam).
The history is clear: no significant radical islam factions staged out of Iraq against America’s interests during Saddam’s reign. After we whacked him, it was a hotbed for years, obviously.
Ruble is at 5 years high.
When the petro dollar is dropped all hell’s going to break loose. Economic destruction like we haven’t seen since the 1930’s and probably a war we will lose. I hate to say it but the elites, establishments of both parties and the deep state have screwed up every call since January 1989.
“FED Bankster fiat dollar is very close to the end of its long history. Piss be upon it.”
It’s going to sting the US, but we had options that would have kept the dollar as king of the hill for, probably, another 20 years, such as letting Russia clean up its backyard.
We chose badly.
So here’s the killer for us: Not only are dollars no longer needed here, the end of SWIFT means that the United States will be TOTALLY BLIND as to transactions being made around the world. So, for this case, India can sell Russia whatever the hell it wants, sanctions or not, and we won’t have a CLUE as to what is going on between them.
All I can say is that if Putin knew how well things would go for Russia after taking Ukraine, he would have done it a decade ago.
ya... after how many hindus have come and gone and are still presently here on HB1 Visas collecting our money??... fkn get rid of them all if they dont want our dollar!!
[Right… founded ISIS in Iraq after we whacked Saddam, not during his reign. There was no ISIS, no Al-Qaeda, etc. In Iraq under his rule. Yeah, every blue moon Saddam played to the sensibilities of Islamic radicals, but even then, rarely.
Further, Saddam absolutely crushed any Shia opposition, specifically the Al-Sadr factions (which became the Mahdi Army, again, after we removed Saddam).
The history is clear: no significant radical islam factions staged out of Iraq against America’s interests during Saddam’s reign. After we whacked him, it was a hotbed for years, obviously.]
Jihadists are a minor threat, in the greater scheme of things. What we’ve discovered in the wake of 9/11 is that Muslims love life and only a tiny sliver will risk it all for Allah. And the destruction of Saddam and Mullah Omar was a stark warning to all Muslim rulers with either imperial ambitions or dreams of killing Americans on US soil - better be sure.
“I hate to say it but the elites, establishments of both parties and the deep state have screwed up every call since January 1989.”
Absolutely. Amazing how many chances we kept getting. But I agree, our luck is over and now more and more countries will simply ‘work around’ the US Dollar and there won’t be jack we can do about it.
(other than start a nuclear war, as some here seem to want)
Fed.gov just STOLE $300 billion of Russia’s reserves.
Maybe Russia shouldn’t have invaded Ukraine
Maybe Russia was stupid for keeping reserves in US$
Maybe its the USA’s currency and they can do whatever they like.
Maybe all true - but regardless, it all proves without a doubt - use the US$, and you are under the thumb of US Fed.gov policy and strategic goals.
So OF COURSE other nations are going to seek alternatives.
“no longer need the U.S. dollar”
…But they sure still want US dollars.
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