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Faith in the US for what? If it's faith that the US can annihilate you if you get in its way, I agree with you. But if it's faith in the USD and US debt as reli
by AlexCoventry 9y ago
Faith in the US for what? If it's faith that the US can annihilate you if you get in its way, I agree with you. But if it's faith in the USD and US debt as reliable stores of value, I would say that the economics of a sovereign power is different from the economics of a subject household.
- emodendroket 9y agoIf the USD is doomed why isn't everyone pulling out?
- zanny 9y agoBecause everyone and everything is doomed on a long enough time scale. If the USD falls so does every other currency. You wouldn't see the kind of money people want in currencies moving into less fungible goods that would hold value over a recession. I think the more general idea should be - no king rules forever, but the eventual fall of US dominance in the world economy will bring most of that economy down with it.
- AlexCoventry 9y agoI'm not saying it's doomed.