The World’s Reserve Currency
I know, I know, the oligarchs have a plan – a big plan – and I should have faith that their plan will work out for me. Except that there are a lot of things they don’t care about and one is the older half of the aging population and the other is people who retain a sense of patriotism to the outdated notion of the United States being a sovereign nation that should look after its own interests first.
The United States has benefitted from the US Dollar’s status as the world’s reserve currency. 100 years ago it was the British Pound Sterling. The question of how long the Dollar’s status can hold sway has a lot to do with the relative strength of the country. With it’s move from a democratic republic to an oligarchy with a nominal two-party system, purchased by oligarchs, the view of the dollar is changing around the world. Oligarchies are not stable, irrespective of what the oligarchs would like to tell you.
The US Dollar is Keynesian script. The balance sheet might as well be propped up by bitcoin. There are long term plans by the oligarchy to reduce the significance of competing nations. Electrification of automobiles will damage the Russians (Russia is the single largest producer of petroleum – pumping out 10.95 million barrels per day (bpd) in January), for example, making the reserve currency less of an issue. Oil is bought and sold with dollars, currently.
“Reserve currency issuing countries are not exposed to the same level of exchange rate risk, especially when it comes to commodities, which are often quoted and settled in dollars,” Investopedia explains. “Issuing countries are also able to borrow in their home currencies and are less worried about propping up their currencies to avoid default.”
Investopedia laughingly cites what it calls a drawback to reserve currency, “Low borrowing costs stemming from issuing a reserve currency may prompt loose spending by both the public and private sectors, which may result in asset bubbles and ballooning government debt.”
We’ve heard that tune.
The Biden Regime, out of the gate, has promised to dramatically increase taxes to pay for it’s multi-trillion dollar war on the weather, which John Kerry admitted, is unlikely to have any impact on the climate. All of these moves are inflationary. All of them diminish the relative value of the dollar.
Russia and China are going heavy on Gold and Euros in their treasuries, not dollars. The Chinese are heavy currency value manipulators – but the day may come when they don’t have to be. And then we’ll all bow to the RMB, I guess.
Trade Unions
They backed Biden, they guy who told them, “I don’t work for you.” That’s a special kind of stupid.
With Washington DC fenced off, now might be a good time to put a lock on it and call it the National Zoo.
In 2021
As to the fence and the NatGuard, if the Senate is to be an impeachment jury,
let’s sequester the jury.
And, throw away the key.
++^^
That’d be a grave insult to zoo animals.
-Kle.
Gary North says his high school teacher showed him around 1955 that Social Security would go bankrupt in 2011 from the in/out balance shifting as boomers retired. Who remembers Perot’s TV commercials about ‘long term growth can’t be funded with short term debt’? Voters have earned their bankruptcy fair and square; the politicians they’ve picked are just a symptom.
You can’t have a nation without good people. When the nation cries for things that are not good, for hand-outs that they didn’t earn and never intend to pay back; and they elect corrupt shills who are funded not by their pay but by special interests, the end result should not be surprising. Ta da!!!
An idea , a friend of my bride found a box of prepaid post cards. Didn’t remember why she had them. She started carrying them with her, asking folks if they wanted to send President Trump a thank you note. She had his Mar A Lago address, folks rote a quick note and signed it, she dropped it in the mail.
What if 70 million plus voters did that. A line of semi’s hauling mail out front of Mar A Lago would be hard to ignore.
Now, back to your regular programming.
Great idea…direct feedback at that magnitude would be epic.
I took that suggestion to heart and put a thank you note to President Trump into the mail.
Excellent…As Keith suggests, when the USPS semi shows up at Mar A Lago that’ll really cause the neighbor’s head to explode, the one who tried to block the Trump’s from using their private property as a residence.
The chasm between good and evil is widening to a dangerous width that may not ever be reconcilable. Living well is the best revenge…“revenge” in a good way, as it heaps coals on the heads of the “Give us Barabbas” crowd.
Tell your congregation. It’s the battle of the sons of light against the sons of darkness, playing out before us.
Truth well stated…short and sweet with spiritual intelligence.
Our Oligarch Overlords have to be confused. They’re so popular but the serfs keep holding $GME. Clearly a white supremacist plot to overthrow our Rainbow Rulers.
But seriously, is the clock ticking for fiat currency, not least the greenback. And we have to wonder, were our Keynesian Kings hoping to short the market wholesale and buy the world for pennies on the dollar? Maybe that plan’s spiked.
You cannot be prepared enough. I know I can’t.
Except to know the King of the Universe personally.
Trade unions ~~ Hahahahaha!!!
The unions have delivered a living wage to a lot of people and I am not anti-union. But for some unknown reason, since 2000 in particular when it was against their self-interest, they have supported people like Jo and Ho and as LINDAG points out, there is a cause and effect.
If the dollar is going under, what do you suggest investing in to maintain income?
Besides food and weapons of course…
I don’t think that it’s going under. It will have value, but the the relative value to other currencies that are backed by gold or are a reserve currency will be impacted. A rising tide floats all boats, an ebbing tide sinks them all.
The US Dollar under the thumb of the Federal Reserve, is a Ponzi scheme. Can someone name any Ponzi scheme that didn’t ultimately collapse?