to what benefit? With that line of thinking, why not just print up a billion for each citizen and call it a recovery? It has been attempted before - it never ends well. Spare me the logic that our military preserves the value of the dollar. When it comes down to it, our volunteer military will not be on the front lines while their families starve because their paycheck only buys two slices of bread for the month.
Who said anything about benefit? Just mocking the idea that the Fed is out of bullets.
Spare me the logic that our military preserves the value of the dollar.
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The dollar is floating upwards because the US has pumped about 800,000 barrels a day more for each of the last three years. The USA is on track to increase production by the same amount for each of the next 6-7 years. That means the US becomes not just oil independent but an oil exporter.
This also means that the dollar floats upwards and kills both the price of oil and gold. If you were around during the OPEC embargoes of the 1970’s —what we’re experiencing is that decade in reverse.
Only two other countries have experienced this kind of massive growth: the saudis between 1968-1975 and the Russians between 2002 and 2007.