- Joined
- Jan 13, 2012
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The only explanation I have is that most politicians love to spend money, even if they have to borrow that money from others. Unfortunately, most of them are lawyers, not economists. The handwriting is on the wall, though. For the past 50 years a country such as Australia, or Chile, or France, as examples, who wanted to buy oil from Saudi Arabia had to first convert their currency into dollars to pay for that oil, since the dollar is the world's reserve currency, and was accepted by everybody for buying and selling. Recently, though, more and more large countries are in the process of bypassing the dollar, since they are becoming alarmed by our inability to control our debt, and hence, the dollar's worth. If enough countries join in the argument, it will not be good for us, since we enjoy some monetary perks by being the reserve currency for the world, such as borrowing at a lower cost, which saves us at least $ 100 billion dollars a year in interest charges. I don't want to see us losing our reserve currency status, but it looks like we might, and sooner than anyone expects. When the MSM, and the wealthiest people in the world, start talking about the possibility, which they are, we'd better pay attention! :shock:
For the moment, perhaps. It apparently is in the process of changing, as more and more countries are becoming alarmed at our inability to control the dollar's worth.
It is completely illogical that the dollar is worth anything, let alone being the hottest currency out there.
Money is not quite real. It's an artifice. It's a representation of value printed on nice paper. So once you recognize that money is a form of theater, you can see that the show must go on. The world simply has to have a monetary god they can believe in and worship. The more dollars we create (and exchange for things of substance) the more money floats around the world. Lets imagine the US with no foreign debt and a perfect balance or surplus in balance of trade. What would these other people use? Drachmas? Francs? Yen? these countries can't supply that much money. So, attacking the dollar is like burning down the theater with your family inside. Oh, yeah, another thing. Who would they store their money with? Bank Of China?
As I watched the debt soar from the first billion (yes, billion) to the current 17 trillion, I knew this wasn't right. But this is where I found my proof that my theater theory was correct. Pissing away money is what we are destined to do. If we stop, everything stops.
Sound crazy? Think about it for a bit.