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What happens next? is it the masses that get hurt most? What are the unforeseen consequences?
by tarunmuvvala 4y ago
What happens next? is it the masses that get hurt most? What are the unforeseen consequences?
- idiocrat 4y agoNo problem, they can anytime mint several one-trillion coins to pay back debt and pay to build bridges. https://en.wikipedia.org/wiki/Trillion-dollar_coin https://en.wikipedia.org/wiki/Trillion-dollar_coin
- NovaVeles 4y agoAll that does is decrease the value of the dollar. A trillion new tokens on energy and resources has been made but not 1 single gram of material or 1 watt of energy has been added to the system by this move.
- idiocrat 4y agoPersonally I agree with you completely, but the world is not run by a reason. Lower-value dollar is very good, because it makes US competitive in international markets and everyone will want to buy US goods, services and USD currency reserves, backed by trustworthy US gov.
- NovaVeles 4y agoWhile there are a thousand little caveats and technical details on this, essentially the spending power of the future will be reduced. For the poor, this is a big problem. For the rich folks (almost anyone reading this) it is more of an inconvenience.