3 ms·
For USD it kind of is. What would it take to screw up the dollar? Every other country on the planet wants to hold it.
by CraigJPerry 6y ago
For USD it kind of is. What would it take to screw up the dollar?
Every other country on the planet wants to hold it.
- umvi 6y agoWhat I don't understand then is why the fed doesn't just print a million dollars for each and every citizen. That's only 300 trillion dollars. We would be the richest country in the world by far, poverty would be solved.
- CraigJPerry 6y agoConventional wisdom says this would reduce the value of the USD against other currencies and that would in turn cause foreign investors to cash out. For other currencies that all seems pretty reasonable, investors would be crazy not to go to another currency. For the USD where you have excess capital imports which aren't offset by corresponding goods, materials or services exports (e.g. the USA buys products from China then China gives the money earned back to the USA in exchange for treasury bills) then what does it mean for China to cash out? >> We would be the richest country in the world by far Confusingly, as a nation you wouldn't be richer or poorer and a persons buying power wouldn't change much. This is a long way to say that printing money isn't the right lever to pull to make everyone richer. >> poverty would be solved Poverty is only partly a money supply issue, you'd need to fix the other problems that cause poverty too otherwise you'd have limited effect.