I’ve studied this for years. How can you owe 20 trillion, and think, “I’ve got this”. Well, the Chinese, Russians, Japanese, whoever else are going to finally realize that our funny money’s no good. We have to get off the US dollar. The fallout well shake it up, then a new world currency, SDR’s. Check out Jim Rickards on youtube. It has to happen, banksters, wall street can’s help themselves.
And we also need to redistribute wealth! Right? Those bloody milionaes and bilionaes!
Everybody owes everybody else and themselves .
SDRs are not “currency” as such. It’s a synthetic unit of account used to facilitate exchanges between fiat currencies - sort of how the ECU was supposed to work until the politicians decided to instantiate it as an actual currency. However since both SDRs and US$ are entirely fictional I suppose the technical difference between them is slight.
If you want to “get off the US dollar”, get yourself some bitcoins, a cabin in the woods, and a few cases of ammo. I think you’re basically right, but it just ain’t going to happen, especially not by substituting “currency” issued by a US proxy. The market can stay irrational longer than etc etc.
A thing that is not living cannot die (or Die). Don’t be so dramatic. It detracts from any point you have. Also, I’m sure Chinese, Russian and Japanese economists are a little smarter than you give them credit for. I don’t think there’s anything you’ve realized that they’re not aware of. I can’t say there will never be a world currency, but experiments in that direction have ultimately proven to be a failure so far. The Euro is falling apart, and after a promising start Bitcoin is devaluing into a dumpster fire.
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And therein lies Global Economics 101. We aren’t talking about a single entity owing X amount, we’re talking about a nation that has existed for 241 years. @freedom1 I’m not sure if I would agree that looking up YouTube videos from Jim Rickards would really qualify as “studying this for years,” did you ever wonder where the money you get from a tax return comes from? In very basic terms, your tax money gets invested and you get sent a little cream from the top.
Considering the US is still sitting on a AAA credit rating from 2 of 3 biggest CRAs, I’d say they’re doing more than fine. Yes, AAA. Nations get different credit ratings than individuals. If anyone asks me again why I don’t meet people from the internet I’m going to show them this topic, I’ve met far weirder people from /r/Taiwan
Further reading.
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You need to embrace 4Chan, only then will your agoge be completed.
I name DrewCutz King of the Iron Islands!
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It’s not as simple as you put it…
The government and invesors can lie to each other in perpetuity, it’s what keeps the system going. If it didn’t crash after the shit show that was 2007 2008, the music won’t stop now either.
It’s funny money all right but built on the biggest economy in the world , there is no incentive to bring it down
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I believe even Keynes admitted that bubbles could be sustained for very long periods of time before any reckoning. Interest rates have slowly inched up since December, and there has been some effect on world markets in the healthier direction of firming up their currencies.
I wish it were expedited though, like in the 1920s under Harding. It would cause huge chaos for at least a year as malinvestment gets suddenly corrected and people get fired so they can be re-hired in positions more useful for society. But after a year, hey, the economy is reset, and resprung and raring to go, as the roaring 20’s gave witness to.
This inch by inch correction takes too long, it will be 5 years before we become healthy. And after 15 years of sickness, I want to remove it more swiftly.