Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 08/24/2026 11:15:09 AM PDT by ProgressingAmerica
JD Vance Wants To Ditch The Dollar’s Reserve Status
Tony Katz isn’t buying what JD Vance is selling on the dollar. “What is he talking about?” Katz said, reacting to the vice president’s recent comments questioning whether America should even want to be the world’s reserve currency. “And then why is he talking about it?”
Vance has argued that reserve currency status is a raw deal — that it floods the country with “mostly useless imports,” hollows out domestic manufacturing, and effectively taxes American producers to subsidize American consumers. Katz brought in Phil Magness, the David J. Theroux Chair in Political Economy at the Independent Institute, to pressure-test the argument. Translation: Katz wanted to know if any of it actually holds up. It mostly didn’t.
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
All I'm seeing is dishonestly/short clipped videos seemingly out of context by twitter users with agendas. They cannot be trusted.
What is the true story here?
Taken out of context.
Looks like a Rino swamp attack.
My Spidey Sense becomes more aware each day on just how worried the left is about our excellent VEEP.
I don’t think he said what they allude to.
The World Reserve enables us to control others without going to war....
Agree. Something is wrong here with the select edits.
But what is the true story then?
JD Vance did say thoughts about the U.S. reserve currency, where does it actually lead?
Having the reserve currency also allows massive deficit spending that feeds the welfare state. without it we would have to make tough choices pols would not want to make.
JD Dunce .... yeah I know his dumb line of reasoning on the USD as the worlds reserve currency.
Whether or not the US dollar is the world’s reserve currency is soon to be out of our hands if nothing is done to back up the dollar’s reputation. We have huge debt, and there will be inevitable inflation if we don’t start making stuff again. Other currencies have problems, too, but holding increasingly worthless dollars doesn’t sound attractive to anyone.
Coordinated hit pieces that are obvious and not well done.
The US dollar is losing reserve status regardless. I guess Vance is saying he’s ok with that. If you’re going to bring manufacturing back to the US, the dollar needs to go down significantly.
Because having $40T in debt and no control over interest rates is ALWAYS a good thing.
Good thing I replaced the bearings on my wheelbarrow; I will need it to carry my cash when I go shopping.
As usual JD Vance is right. Reserve Currency status does indeed hollow out the industrial sector of a country’s economy. There is a reason why China does not want it.
It did the same thing to Britain when it held the world’s reserve currency status. Britain’s industrial output steadily declined relative to other countries when originally it had been far greater. The industrial revolution and the steam engine were invented in Britain after all.
Exactly.
The USD losing reserve status would be the end of America.
The primary reason preventing runaway inflation and hyperinflation, even though America prints Dollars likes rivers spill water into the ocean, is the sustained global demand for the dollar as the world’s primary reserve currency. Removing this pillar would fundamentally alter the macroeconomic landscape, introducing severe and unprecedented financial instability.
Think Zimbabwe with an American accent.
America cannot forfeit reserve currency status for the Dollar. Anyone pushing for that would be both a fool and a traitor, and I am sure Vance is neither.
40 Trillion in the hole national government. Unlimited de facto “printing” of currency. Our current open air insane asylum in these formerly United States would never have been possible without all this phony baloney confetti-buck cannon currency being shot around far and wide.
Yes, the reserve currency status has benefits and costs. However, if it was such a bad thing as Professor Vance thinks, then why have alternatives been floated? Why is the WEF holding talks in the topic? Why is China having a go at reserve currency status, and so on.
JD Vance Takes on Milton Friedman (And Disappoints)
Here’s the whole interview. The segment in the economy and Milton Friedman starts at the 32 min mark.
The article covers a lot of ground and I can’t improve upon it. I will add, however, that Vance also can’t pronounce laissez-faire correctly. That’s pretty cringe.
It’s important to remember that Vance was chummy and worked on regulatory legislation with Sens. Warren, Brown, and Durbin - who are enemies of capitalism and a ghastly trio to boot.
As I wrote back then, this populist anti-“Wall Street” rhetoric coming from a former VC guy with a Yale degree is comical. Opportunist is more like it. Blah blah blah. What next, will he join an Occupy encampment?
He does not want to, but he’s smart enough to see how our policies and spending over time have devalued the dollar. 40 trill in debt and we still are trying to come up with ways to kick the can down the road.
Along with (WEF Mentor) Henry Kissinger’s petro dollar scheme, our Reserve Currency is what has given the USA its power. It’s why we’ve been able to export our inflation for decades. It is also what that vile Obama creature began diminishing the moment he was installed into office. By purposely doing things to force a new bank settlement system creation to play alongside SWIFT. They doubled and even tripled down on this ‘Post American World’ with the Biden installation.
The WEF and the CCP want it brought down. Tim Walz would’ve happily accomplished this for them.
It’s the difference to why we can print dollars people will accept as payment and even flood them out to woke DEI fatigue causes and Carnival cruise vacations, but people in Venezuela had to eat stolen zoo animals or starve.
They intend to collapse our power into a Central Bank Digital Currency (CBDCs) and use global digital IDs for total population control. President Trump is trying to ride this Beast while it rises up, but that will not last.
The USA remains the last nation standing before we’re all given over to what is coming.
No big deal, that's only a trifle $1.2 Trillion in 1913 dollars.
Reserve currency means that worldwide business is conducted in dollars.
In order to do that, banks around the world need to have dollars in their “reserves.” Buyers sell their local currency and buy dollars. They send the dollars to the sellers; who convert it to their local currency.
If the dollars is no longer “required”, all of those dollars sitting in foreign banks will come running home, converted to local currencies or the “new” reserve currency.
This will cause the value of the dollar to plummet overseas. All of those dollars will rush back to the US with nowhere to go. I guess this would be good for exports, as they would be priced cheaper. The problem comes when Americans realize how much WE import. Imports will skyrocket in price.
Think of the supply line problems we had during COVID. Except they are not going to go away by social distancing. (I am kidding about that.)
So, I cannot believe someone as smart as JD would suggest it would be OK to not be the reserve currency. I am wondering what becomes the new currency? Certainly not the Euro, Yuan, Yen, or Ruble.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.