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The US have maybe a few months to completely undo their stupid sanctions on the Russians and return their money or the de-dollarizarion movement will keep gaini

The US have maybe a few months to completely undo their stupid sanctions on the Russians and return their money or the de-dollarizarion movement will keep gaining steam and those bank failures will look like children’s play. There’s no way the USA can survive as a world power if they keep stupidly weaponizing the dollar and weakening its status as the world currency. How do people think we will keep our standards of living if we don’t have the world’s currency to allow us to keep our prosperity by having this massive trade deficit?

uptownfunk 4y ago
You raise a valid point so don't know why you're being downvoted. A lot of my investors reallocated their portfolios when SVB happened to minimize risk due to dollar volatility. I think perhaps this runs counter to the mainstream woke narratives whenever russia comes up
- gameman144 4y ago
  I didn't downvote, but I think one reason is probably the repeated characterization of sanctions and Fed actions as "stupid", since that kind of puts things in an us-vs-them mindset. For instance, if I worked on a library and someone filed an issue saying "We need to remove the current networking implementation", I'd be interested to hear what they had to say. If someone said "We need to remove the current stupid networking implementation", I'd immediately be on the defensive (since presumably I had thought it was a good idea). When trying to make a point, it's important to leave room for people that don't already agree with you to be convinced (especially when most people don't already agree with you).
- douglasisshiny 4y ago
  Can you explain what you mean by dollar volatility?
  - uptownfunk 4y ago
    Specifically long term devaluation with respect to specific commodity classes.
- deleted 4y ago
  [deleted]
- Dalewyn 4y ago
  I downvoted because if our collective desire for world peace is anything substantive rather than just vapid, feelgood window dressing, sanctioning Russia is among the first of many actions we should be taking. And honestly, we aren't doing enough to demonstrate that warmongering is not acceptable in this day and age.
  - elzbardico 4y ago
    Where was your collective desire for world peace while the US invaded Iraq, Afeghanistan, bombed Lybia, and yes, promoted a coup of state in Ukraine to them close their eyes for 14 years to the bombing of the ethnic portion of their population in Russia? Have you ever get at least superficially interested in the human cost on the Saudi military intervention on Yemen for the last few years? Do you want me to introduce you to people that have been tortured by military regimes in South America, every one of them put in the power with the help of the United States of America? If you think what Nuland and the other neocons that have been in the state department for the last 30 years, no matter which party is in power, are interested in world peace, you've drank too much kool-aid.
ElectricalUnion 4y ago
Genie is already out of the bottle; countries are now rightfully not deeply trusting any external world powers anymore. Expecting such short term strong and worldwide forgetfulness is a deeply irrational line of thought.
Workaccount2 4y ago
A de-dollariztion and a move to what? Yuan? Ruble? Bitcoin? Sure countries might be unhappy with the dollar as of late, but there really is no serious competitor. It's like being upset with the Ritz and threatening them with moving your stay to the Comfort Inn.
- TexanFeller 4y ago
  If people start hating the Ritz's policies and prices someone will eventually build a comparable competing hotel, a ready to go alternative doesn't have to already exist. We've created incentives for alternatives to the dollar to spring up, we need to either pray to God they somehow don't or stop incentivizing the alternatives.
  - Workaccount2 4y ago
    Sure just copy America's economy, amazing no other country thought of that!
NickC25 4y ago
The sanctions on Russia aren't stupid. Could they be more effective? Certainly. Should they be going much further and actually crippling Putin? Yes. Does Putin deserve to get his teeth kicked in for the shit he's pulling in Ukraine? Absolutely. Should Putin's oligarchic buddies get their fortunes wiped out because of Putin's stupid actions? Certainly. It's not "The West's" fault that Russia has not modernized at all since the fall of the USSR, nor is it their fault that Russia decided to hand the keys to the kingdom over to a former KGB operative, and keep handing him the keys every chance they got. NATO was essentially created for situations like this - because the powers-that-be knew Russia would try to expand its territory every chance it got.

uptownfunk 4y ago

You raise a valid point so don't know why you're being downvoted. A lot of my investors reallocated their portfolios when SVB happened to minimize risk due to dollar volatility. I think perhaps this runs counter to the mainstream woke narratives whenever russia comes up

gameman144 4y ago
I didn't downvote, but I think one reason is probably the repeated characterization of sanctions and Fed actions as "stupid", since that kind of puts things in an us-vs-them mindset. For instance, if I worked on a library and someone filed an issue saying "We need to remove the current networking implementation", I'd be interested to hear what they had to say. If someone said "We need to remove the current stupid networking implementation", I'd immediately be on the defensive (since presumably I had thought it was a good idea). When trying to make a point, it's important to leave room for people that don't already agree with you to be convinced (especially when most people don't already agree with you).
douglasisshiny 4y ago
Can you explain what you mean by dollar volatility?
- uptownfunk 4y ago
  Specifically long term devaluation with respect to specific commodity classes.
deleted 4y ago
[deleted]
Dalewyn 4y ago
I downvoted because if our collective desire for world peace is anything substantive rather than just vapid, feelgood window dressing, sanctioning Russia is among the first of many actions we should be taking. And honestly, we aren't doing enough to demonstrate that warmongering is not acceptable in this day and age.
- elzbardico 4y ago
  Where was your collective desire for world peace while the US invaded Iraq, Afeghanistan, bombed Lybia, and yes, promoted a coup of state in Ukraine to them close their eyes for 14 years to the bombing of the ethnic portion of their population in Russia? Have you ever get at least superficially interested in the human cost on the Saudi military intervention on Yemen for the last few years? Do you want me to introduce you to people that have been tortured by military regimes in South America, every one of them put in the power with the help of the United States of America? If you think what Nuland and the other neocons that have been in the state department for the last 30 years, no matter which party is in power, are interested in world peace, you've drank too much kool-aid.

ElectricalUnion 4y ago

Genie is already out of the bottle; countries are now rightfully not deeply trusting any external world powers anymore. Expecting such short term strong and worldwide forgetfulness is a deeply irrational line of thought.

Workaccount2 4y ago

A de-dollariztion and a move to what? Yuan? Ruble? Bitcoin? Sure countries might be unhappy with the dollar as of late, but there really is no serious competitor. It's like being upset with the Ritz and threatening them with moving your stay to the Comfort Inn.

TexanFeller 4y ago
If people start hating the Ritz's policies and prices someone will eventually build a comparable competing hotel, a ready to go alternative doesn't have to already exist. We've created incentives for alternatives to the dollar to spring up, we need to either pray to God they somehow don't or stop incentivizing the alternatives.
- Workaccount2 4y ago
  Sure just copy America's economy, amazing no other country thought of that!

NickC25 4y ago

The sanctions on Russia aren't stupid. Could they be more effective? Certainly. Should they be going much further and actually crippling Putin? Yes. Does Putin deserve to get his teeth kicked in for the shit he's pulling in Ukraine? Absolutely. Should Putin's oligarchic buddies get their fortunes wiped out because of Putin's stupid actions? Certainly. It's not "The West's" fault that Russia has not modernized at all since the fall of the USSR, nor is it their fault that Russia decided to hand the keys to the kingdom over to a former KGB operative, and keep handing him the keys every chance they got. NATO was essentially created for situations like this - because the powers-that-be knew Russia would try to expand its territory every chance it got.