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This is a great summary. But, it makes the same mistake that other such commentators are making. Other replacement currencies will need to be much more stable

This is a great summary. But, it makes the same mistake that other such commentators are making. Other replacement currencies will need to be much more stable and liquid than the dollar. It is not possible today. But it is right in its sentiment. Most other countries are tired of American sanctions sending generations into poverty. For them, finding anything else is a no brainier. If they can find any currency to replace their trade with, they'll take it in a heartbeat.

macinjosh 3y ago
Not necessarily. At some point the pain inflicted by the US gov’t using its financial powers to enforce its will on you is greater than the pain of using a less stable and liquid currency. There is a tipping point.
tw04032023 3y ago
I believe you forgot to mention something important. US does not impose sanctions on the only basis of "hey, we don't like them, let's ruin their lives". In each case there is a reason, you know, like a blatant violations of human rights, mass rapes, ethnic cleansings, things like that. If some country is bothered that other countries won't be continuing doing business with it because US sanctioned it then it is implied it intends to do something of the above. I really and sincerely hope its not "most" countries out there. Consequently, it's not the US that "sends generations into poverty". Typically it's the ruling class who, being bored out of their minds due to their needs being met by their appropriation of national wealth, decide to do something normally unthinkable for "reasons". And let's not forget that people always have a choice of leaving or changing their government. It is actually good that there is a power on the mudball that can if not coerce idiots to behave but at the very least impose so much pressure they cannot enjoy their lives as if they did nothing wrong, without military involvement.
- nine_zeros 3y ago
  > In each case there is a reason, you know, like a blatant violations of human rights, mass rapes, ethnic cleansings, things like that. Some of those sanctions are for these reasons. Others are for geopolitical reasons. Imagine China imposing sanctions on America for geopolitical reasons such that you are unable to buy food for your kids. This amount of power is never admired.
- jacooper 3y ago
  There is no way in any shape or form that the same country the invaded Iraq and Afghanistan, steals OIL left, right and center, and supported more coups than anyone can be though of as caring for human rights. They don't care at all, it never mattered.
- geysersam 3y ago
  > And let's not forget that people always have a choice of leaving or changing their government Absolutely don't agree. People definitely don't typically have that power. In authoritarian nations not even motivated majorities might not be able to overthrow their government. It's a quite rude thing to claim, implying that any time there's a cheating, lying, corrupt bastard leader around, it's because their people choose them. I'd argue that in the last decades revolution has actually become increasingly difficult because law enforcement authorities benefit a lot from the improvements to surveillance and communication technology.
  - midoridensha 3y ago
    It's not rude at all. It's true. Those bastard leaders are there because their people refuse to do anything about it, and a large fraction of those people serve in the military and police forces to keep the bastard in power. The only way a "motivated majority" can be unable to overthrow their government is if a very sizeable, motivated minority holds a lot of military power somehow (which was arguably the case in Saddam's Iraq, where the Sunni minority oppressed the other two minority groups). Usually, this is not the case. The people are almost always to blame for their authoritarian leadership. I'll give a pass to a few people, such as the Kurds in Saddam's Iraq who actively resisted his rule, but generally speaking the people are the ones ultimately to blame. It's quite rude to claim that people have no agency and somehow are magically forced to do the bidding of a geriatric leader.
    - lastdong 3y ago
      I understand your perspective. Everyone is entitled to their opinions, but just adding a few notes. When it comes to certain historical events or experiences, there are nuances that can only be truly understood by those who have lived through them. This does not mean that those who haven't experienced a particular event or lived through a specific period of history are incapable of contributing to the discussion or forming valid opinions. The world we live in is indeed far from black and white. It is filled with shades of gray, and acknowledging this complexity is essential when discussing matters of politics, power, and oppression. Recognizing the intricacies involved helps us avoid oversimplifications and enables us to delve into a more comprehensive analysis. Opressive regimes throughout history have demonstrated their ability to manipulate people and gain and perpetuate power. It is a phenomenon worth studying and understanding. By examining historical examples, we can gain insights into the factors and mechanisms that contribute to the rise and longevity of oppressive regimes. Revolutionary movements do exist, but they are often the result of a long process that builds up over time. Social, economic, and political factors intertwine in complex ways, eventually leading to significant changes.
seunosewa 3y ago
Apart from Russia and China, which other countries are tired of American sanctions?
- geysersam 3y ago
  Venezuela, Iran, North Korea, Afghanistan, Syria.
  - belval 3y ago
    Maybe Venezuela could be cut some slack, but those other 4 are definitely not poster childs of human rights or liberal societies that we should support.
    - midoridensha 3y ago
      The people opposed to "western imperialism" are usually big fans of theocratic, misogynistic societies where women are stoned to death in the street for showing their ankle.
  - deleted 3y ago
    [deleted]
- Glawen 3y ago
  https://en.m.wikipedia.org/wiki/United_States_sanctions https://en.m.wikipedia.org/wiki/United_States_sanctions
rcme 3y ago
Gold meets all of those requirements, provided you could set up some type of custodial system that would allow paper trading.

macinjosh 3y ago

Not necessarily. At some point the pain inflicted by the US gov’t using its financial powers to enforce its will on you is greater than the pain of using a less stable and liquid currency. There is a tipping point.

tw04032023 3y ago

I believe you forgot to mention something important. US does not impose sanctions on the only basis of "hey, we don't like them, let's ruin their lives". In each case there is a reason, you know, like a blatant violations of human rights, mass rapes, ethnic cleansings, things like that. If some country is bothered that other countries won't be continuing doing business with it because US sanctioned it then it is implied it intends to do something of the above. I really and sincerely hope its not "most" countries out there. Consequently, it's not the US that "sends generations into poverty". Typically it's the ruling class who, being bored out of their minds due to their needs being met by their appropriation of national wealth, decide to do something normally unthinkable for "reasons". And let's not forget that people always have a choice of leaving or changing their government. It is actually good that there is a power on the mudball that can if not coerce idiots to behave but at the very least impose so much pressure they cannot enjoy their lives as if they did nothing wrong, without military involvement.

nine_zeros 3y ago
> In each case there is a reason, you know, like a blatant violations of human rights, mass rapes, ethnic cleansings, things like that. Some of those sanctions are for these reasons. Others are for geopolitical reasons. Imagine China imposing sanctions on America for geopolitical reasons such that you are unable to buy food for your kids. This amount of power is never admired.
jacooper 3y ago
There is no way in any shape or form that the same country the invaded Iraq and Afghanistan, steals OIL left, right and center, and supported more coups than anyone can be though of as caring for human rights. They don't care at all, it never mattered.
geysersam 3y ago
> And let's not forget that people always have a choice of leaving or changing their government Absolutely don't agree. People definitely don't typically have that power. In authoritarian nations not even motivated majorities might not be able to overthrow their government. It's a quite rude thing to claim, implying that any time there's a cheating, lying, corrupt bastard leader around, it's because their people choose them. I'd argue that in the last decades revolution has actually become increasingly difficult because law enforcement authorities benefit a lot from the improvements to surveillance and communication technology.
- midoridensha 3y ago
  It's not rude at all. It's true. Those bastard leaders are there because their people refuse to do anything about it, and a large fraction of those people serve in the military and police forces to keep the bastard in power. The only way a "motivated majority" can be unable to overthrow their government is if a very sizeable, motivated minority holds a lot of military power somehow (which was arguably the case in Saddam's Iraq, where the Sunni minority oppressed the other two minority groups). Usually, this is not the case. The people are almost always to blame for their authoritarian leadership. I'll give a pass to a few people, such as the Kurds in Saddam's Iraq who actively resisted his rule, but generally speaking the people are the ones ultimately to blame. It's quite rude to claim that people have no agency and somehow are magically forced to do the bidding of a geriatric leader.
  - lastdong 3y ago
    I understand your perspective. Everyone is entitled to their opinions, but just adding a few notes. When it comes to certain historical events or experiences, there are nuances that can only be truly understood by those who have lived through them. This does not mean that those who haven't experienced a particular event or lived through a specific period of history are incapable of contributing to the discussion or forming valid opinions. The world we live in is indeed far from black and white. It is filled with shades of gray, and acknowledging this complexity is essential when discussing matters of politics, power, and oppression. Recognizing the intricacies involved helps us avoid oversimplifications and enables us to delve into a more comprehensive analysis. Opressive regimes throughout history have demonstrated their ability to manipulate people and gain and perpetuate power. It is a phenomenon worth studying and understanding. By examining historical examples, we can gain insights into the factors and mechanisms that contribute to the rise and longevity of oppressive regimes. Revolutionary movements do exist, but they are often the result of a long process that builds up over time. Social, economic, and political factors intertwine in complex ways, eventually leading to significant changes.

seunosewa 3y ago

Apart from Russia and China, which other countries are tired of American sanctions?

geysersam 3y ago
Venezuela, Iran, North Korea, Afghanistan, Syria.
- belval 3y ago
  Maybe Venezuela could be cut some slack, but those other 4 are definitely not poster childs of human rights or liberal societies that we should support.
  - midoridensha 3y ago
    The people opposed to "western imperialism" are usually big fans of theocratic, misogynistic societies where women are stoned to death in the street for showing their ankle.
- deleted 3y ago
  [deleted]
Glawen 3y ago
https://en.m.wikipedia.org/wiki/United_States_sanctions https://en.m.wikipedia.org/wiki/United_States_sanctions

rcme 3y ago

Gold meets all of those requirements, provided you could set up some type of custodial system that would allow paper trading.