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Dude.. it is the reserve currency.. when there are risks in the markets people RUN to it. The same as when the markets are volatile people dump stocks and buy

Dude.. it is the reserve currency.. when there are risks in the markets people RUN to it. The same as when the markets are volatile people dump stocks and buy bonds. Thanks for proving my point, that being a reserve currency gives you some pretty powerful special rights.

spywaregorilla 4y ago
That is backwards. It is the reserve currency because it is stable and desirable and backed by an enormous military and economic engine. You also implied it was a fragile position. It is not. Because of the above.
- kennend3 4y ago
  Take a read sometime : https://www.principles.com/big-debt-crises https://www.principles.com/big-debt-crises He covers many historical "reserve currencies" and how they eventually ran out of time and were replaced by another. He also feels the US is in a fragile position, and given he only makes money when he is correct..and he has been making money since 1974... I did not imply it was fragile, i said that should it lose reserve currency status the US debt will become a far larger problem.
  - spywaregorilla 4y ago
    I've no interest in reading Ray Dalio. > i said that should it lose reserve currency status the US debt will become a far larger problem. Again, the only way the US loses its reserve currency status is by already being in deep shit, so this is tautological. It's hardly inconceivable that the US is in a bad economic position in the future. But for the short term outlook of at least a decade or so, the US is in the best position it's seen in a century.
    - taolegal 4y ago
      > I've no interest in reading Ray Dalio. By admitting to bigoted ignorance, you lose the argument. Money is half of practically every transaction. Therefore its value has an enormous influence on economic activity. All economic calculation of individuals going about their lives ends up based on these flawed artificial signals created by self-righteous academics & experts. Why does practically every important sector of the economy suck? They're managed by the government & based in expansionary monetary policy. Cheap money leads to cheap services & products. It's only when economic activity is based on long-term thinking (the opposite of near-zero interest rates) will society have a prosperous economy. Also, the entire salaried economy is debased since the transaction cost of changing jobs will be a constant force along with devaluing money, in effect, constantly & indefinitely stealing money from every worker.
      - spywaregorilla 4y ago
        Golly I didn't realize not wanting to read Ray Dalio made me a bigot.
        taolegal 4y ago
        > One who is strongly partial to one's own group, religion, race, or politics and is intolerant of those who differ.
        spywaregorilla 4y ago
        And which one of these am I strongly partial to and intolerant of for those who differ? I'll grant you a win if you choose people who worship Ray Dalio religiously. That's totally fair.
        deleted 4y ago
        [deleted]

spywaregorilla 4y ago

That is backwards. It is the reserve currency because it is stable and desirable and backed by an enormous military and economic engine. You also implied it was a fragile position. It is not. Because of the above.

kennend3 4y ago
Take a read sometime : https://www.principles.com/big-debt-crises https://www.principles.com/big-debt-crises He covers many historical "reserve currencies" and how they eventually ran out of time and were replaced by another. He also feels the US is in a fragile position, and given he only makes money when he is correct..and he has been making money since 1974... I did not imply it was fragile, i said that should it lose reserve currency status the US debt will become a far larger problem.
- spywaregorilla 4y ago
  I've no interest in reading Ray Dalio. > i said that should it lose reserve currency status the US debt will become a far larger problem. Again, the only way the US loses its reserve currency status is by already being in deep shit, so this is tautological. It's hardly inconceivable that the US is in a bad economic position in the future. But for the short term outlook of at least a decade or so, the US is in the best position it's seen in a century.
  - taolegal 4y ago
    > I've no interest in reading Ray Dalio. By admitting to bigoted ignorance, you lose the argument. Money is half of practically every transaction. Therefore its value has an enormous influence on economic activity. All economic calculation of individuals going about their lives ends up based on these flawed artificial signals created by self-righteous academics & experts. Why does practically every important sector of the economy suck? They're managed by the government & based in expansionary monetary policy. Cheap money leads to cheap services & products. It's only when economic activity is based on long-term thinking (the opposite of near-zero interest rates) will society have a prosperous economy. Also, the entire salaried economy is debased since the transaction cost of changing jobs will be a constant force along with devaluing money, in effect, constantly & indefinitely stealing money from every worker.
    - spywaregorilla 4y ago
      Golly I didn't realize not wanting to read Ray Dalio made me a bigot.
      - taolegal 4y ago
        > One who is strongly partial to one's own group, religion, race, or politics and is intolerant of those who differ.
        spywaregorilla 4y ago
        And which one of these am I strongly partial to and intolerant of for those who differ? I'll grant you a win if you choose people who worship Ray Dalio religiously. That's totally fair.
        deleted 4y ago
        [deleted]