And what country can preserve its liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? Let them take arms. The remedy is to set them right as to facts, pardon and pacify them. What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.
Sunday, July 14, 2024
Some good news. The Dollar denominates a large share of global trade. Still the world's reserve currency.
What makes anyone think that the USD will ever lose its place. Is the USD the only currency being printed 24/7 and faked up? Of course not. They all are in proportion to the USD so as to keep their place.
We're debasing our currency to run deficits to the heavens.
What possibility go wrong here?
Soon enough the dollar will be worthless. Unless suddenly the US Gov.com decides NOT to spend an EXTRA trillion dollars above and beyond our tax receipts EVERY F*ing 90 days per the GAO.
Got lots of canned foods and such? Real wealth is the ability to feed, shelter and protect your family. The Largest Flatscreen TV is to transmit sports ball and Propaganda at you.
A few weeks ago, Saudi Arabia did not re-up the agreement with the US whereby they use the US dollar exclusively for all oil sales. That marked the point at which the US dollar ceased being the worlds reserve currency. 90% of the planet trades in other currencies and commodities as well as the US dollar, and they have gradually for years using the dollar less and less. The dollar accounts for less than 60% of global transactions today, down from over 72% in 2001. (source: https://www.bis.org/publ/qtrpdf/r_qt2212x.htm ) It's also useful to look at world trade in terms of PPP (purchasing power parity) vs GDP per capita to get a more accurate picture of what countries actually produce by amount of goods instead of the amount of goods produced measured in dollars.
BRICS and the death of the petro dollar will be our undoing… or so I’ve heard… 🤷🏻♂️
ReplyDeleteI've always had a problem with any chart that depends on government statistics - any government
ReplyDeleteOh, you old healthy skeptic you.
DeleteUsually .GOV lies. the USD isn't that good with the exception of the Drug and Kid trade.
ReplyDeleteThat status WILL change. You can't keep inflating a currency forever without consequence.
ReplyDeleteWhat makes anyone think that the USD will ever lose its place. Is the USD the only currency being printed 24/7 and faked up? Of course not. They all are in proportion to the USD so as to keep their place.
ReplyDeleteThe dollar is constantly being laundered using inflation by our politicians, only a matter of time. I just don't want to be the last guy holding it.
ReplyDeleteWe're debasing our currency to run deficits to the heavens.
ReplyDeleteWhat possibility go wrong here?
Soon enough the dollar will be worthless. Unless suddenly the US Gov.com decides NOT to spend an EXTRA trillion dollars above and beyond our tax receipts EVERY F*ing 90 days per the GAO.
Got lots of canned foods and such? Real wealth is the ability to feed, shelter and protect your family. The Largest Flatscreen TV is to transmit sports ball and Propaganda at you.
A few weeks ago, Saudi Arabia did not re-up the agreement with the US whereby they use the US dollar exclusively for all oil sales.
ReplyDeleteThat marked the point at which the US dollar ceased being the worlds reserve currency.
90% of the planet trades in other currencies and commodities as well as the US dollar, and they have gradually for years using the dollar less and less.
The dollar accounts for less than 60% of global transactions today, down from over 72% in 2001. (source: https://www.bis.org/publ/qtrpdf/r_qt2212x.htm )
It's also useful to look at world trade in terms of PPP (purchasing power parity) vs GDP per capita to get a more accurate picture of what countries actually produce by amount of goods instead of the amount of goods produced measured in dollars.
In spite of the best efforts of the Biden regime...
ReplyDeleteWe should have listened to Ross Perot.
ReplyDelete