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if the USD sinks, the entire world sinks backing off the USD is a hundred year project...you need an currency from a relatively open and law-bound Great Power
by oldpersonintx2 1y ago
if the USD sinks, the entire world sinks
backing off the USD is a hundred year project...you need an currency from a relatively open and law-bound Great Power that has demonstrated its staying power through conflict
there isn't anyone else who fits the bill...yet
- taylodl 1y agoWe were talking debt, not USD. The federal government does not have the power to create money, despite what people think, and so they can't print money to pay off their debts.
- seanmcdirmid 1y ago> The federal government does not have the power to create money The federal government choose not to have that power, they could technically take it back at any time with only political/market confidence consequences. With a crazy guy running things, anything is possible at this point.
- taylodl 1y ago> with only political/market confidence consequences That's one way of downplaying what happens next...
- seanmcdirmid 1y agoYep. But we live in interesting times.