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The BRICS countries are trying to change that, and they are gaining some momentum in terms of negotiation using China's Yuan becoming an alternative baseline cu
by tracker1 3y ago
The BRICS countries are trying to change that, and they are gaining some momentum in terms of negotiation using China's Yuan becoming an alternative baseline currency. This will likely shake things up quite a bit. So I don't think it will stay USD in terms of lower economic impact from printing more money.
I think it will get really bad within the next decade or so. We're rapidly approaching a point where we won't be able to print our way out, or cut spending enough to get out of it at all.
- bamfly 3y agoWhat would you expect to see happening, in a developed country that doesn't have the benefit of debt denominated in USD and of control over USD, if they had an even worse debt:GDP ratio than the US does? I ask because there are a few such countries, and they seem to be doing OK. They shouldn't be, if this is something that'll definitely cause serious problems for the US—right? It should already be "really bad" for those countries, I'd think.
- tracker1 3y agoEverything is fine until you realize that the money is just ink on paper, so to speak, with nothing behind it. The strength of the US economy and position in global markets has been what's kept things strong. I don't know that it will hold, and have no idea when banking institutions won't be able to prop up peoples faith in said system anymore. I'm not sure if I expect market collapse or WW3 to happen first... right now, feels like a crap shoot in either direction.