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> The USD is about as free market as a currency can be reasonably obtain. Nothing about the USD is free market. The USD is shored up by the petro dollar stand
by gotchange 11y ago
> The USD is about as free market as a currency can be reasonably obtain.
Nothing about the USD is free market.
The USD is shored up by the petro dollar standard and its status as a reserve currency esp. in the commodities market and its supply and management is governed by a quasi-private institution that is in bed with Wall St.
- gnaritas 11y agoYou ignored everything he said, because it disproves your point.
- nikdaheratik 11y agoNot only did you ignore what the guy said, but you don't even seem to understand the points you are trying to make. The reason why the dollar is a reserve currency, and why so many oil contracts are made out in USD is because both parties have a reasonable expectation that it will retain its relative value over a reasonable time period. This means that it is a reserve currency because no one group can manipulate its value. If it was subject to as much political machination as you seem to imply, then no one would want to use it.
- gotchange 11y agoApparently you ignored conveniently the petrodollar part and the Fed being non federal or public institution and just focused on its status of reserve currency to discredit me. Maybe you need to get acquainted more with these points before writing your counterargument.