Posted on 06/19/2024 10:59:58 AM PDT by bitt
Being 200 trillion deep in debt is soundness? Ok... cool.
The way this works is that something better comes AFTER the obvious default and collapse. Over half the world is already working morning noon and night to dump the dollar and our bankers because it’s too dangerous.
It’ll be a a gold backed trade currency composed of BRICS members. Settlements will be made in national currencies within that framework.
There is no advantage to them using dollars anymore. The full faith and credit of the USA means nothing when we are the biggest debtors in all of human history and have collapsed morally as a people. There isn’t a lot of demand for the Denarius these days.
I meant to add that this present ‘game’ will continue through the election. If Donald Trump is elected, they will let the system collapse around his ears. ➡ Herbert Hoover 👈
“No plausible alternative even exists despite $200,000,000,000,000 of debt.”
Think of it as a house on a lot. No alternative house is on the near horizon. But when your house is on fire and flames are shooting out of the roof, you start thinking about it.
And when the lot is a smoldering ruin, the alternative quickly gets put together.
The alternative will come to life after the collapse. Probably some kind of basket of commodities, metals, and national currencies of members. If a member currency starts abusing the printing press, they get ejected.
That’s my prediction.
So it won't be like that.
It means they outproduce the whole of NATO in munitions and shells, by a wide margin.
Social Security isn’t the problem, it’s Medicare and Medicaid. SS outlays are fractionally over what it takes in, Medicare takes in, IIRC, less than 20% of its outlays.
I understand that the reasons are not the same but the outcome is going to be similar.
Inflation, spending freezes and tax hikes=stagnation.
If it is not sound, tell the bond traders.
Beyond forex, the bond markets are the second sharpest traders on the planet.
Half the world better start working harder, the dollar is up YoY at this very moment.
$200,000,000,000,000 in debt and the best offered is a gold backed currency by the BRICS beyond being an extension of Col Qadaffy’s plan is about as threatening as a swarm of gnats.
The winner of the dog show is still a dog.
dollar collapsing ping
I didn’t see this before the last reply.
I think of it exactly as it happens to be-
50yrs of impending doom since Nixon left the gold standard.
Yet here we are with insane debt and little to no relative change in global status has taken place.
How is it that going to work after the collapse?
If this country collapses the entire world is instantly thrown into the worst economic times imaginable. When the margin calls hit and mass liquidations take place the other dogs in the show are going to look relatively worse than they do now.
You can do better than this material.
I’ll even give you something.
They announced that that they are going to steal Russian assets and give the money to Ukraine and despite fake news headlines the ruble rallied.
Why? Because it was already priced in and they’re running out of moves.
PS I enjoy and appreciate the back and forth.
I can be rude and obnoxious at times.
I’m grateful for the latitude and hope we can all learn some things together.
“...the ruble rallied.
Why? Because it was already priced in and they’re running out of moves. “
Financial assets, financial market prices... blah, blah, blah,...
I’m interested in physical production in the real economy.
“Medicare takes in, IIRC, less than 20% of its outlays.”
In 2021, Medicare expenditures were $829 billion. Medicare revenue from the payroll tax and from premiums paid by beneficiaries together comprised about 49% of total Medicare revenue, which was $888 billion. The rest came mainly from general revenues.
https://www.kff.org/medicare/issue-brief/what-to-know-about-medicare-spending-and-financing/
We’ll know it’s bad when Exxon starts taking yuan.
It means you’re a n00b troll, only joining FR after the latest conflict in the Ukraine.
Petro dollars are soon top be renamed Orangeman Bad dollars. Its all propaganda, designed to produce sentiment against the USA.
This propaganda you will realize when the “drill baby drill” policy is renewed, and ANWAR comes on line.We have more oil than Saudi does, laying in the ground.
Who cares about BRIC ? We will put America first, let them chase their petro Dollars, we will have Trump MAGA dollars.
Ask yourself why the lefty a$$hats who are ruining the country want America to be subservient to Saudi oil.
MAGA baby!
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