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I don't buy the dollar being dead. His main arguments are the politics are messy and there's a lot of debt. Such things have been true in the past over its 200
by tim333 1y ago
I don't buy the dollar being dead.
His main arguments are the politics are messy and there's a lot of debt. Such things have been true in the past over its 200 year plus history and yet it goes on. The US remains the world superpower and the center for its most valuable companies and the leader in new tech like AI. Things will go on.
The British Pound has existed since about the year 600, we had 250% debt to GDP after WW2 and all sorts of chaos over the years but the currency continues. Such things don't die easily.
- deleted 1y ago[deleted]
- lisbbb 1y agoBut it is--it's been on fumes since the 1970s. We're in the final stages now.
- bombcar 1y agoOne minor problem is that we do weird things with “debt” that weren’t done before (like the SSA holding billions (trillions?) in debt, along with pensions, etc). It’s actually hard to make comparisons to 100 years ago in other countries because so many things are now monetized that weren’t before.
- tim333 1y agoIt wouldn't surprise me if the debt causes a financial crash a bit like 2006. Crashes happen pretty regularly and things are quite lined up for one of those - all it would likely take would be an AI plateau for example. Currencies dying are rare though. They can decline in importance like the pound, but generally plow on.
- lavezzi 1y agoExcept this time you have Americans and insiders who wilfully want to kill it.