When world commodity prices are valued in dollars we can print all the dollars necessary to satisfy our needs...until the dam breaks. When the rest of the world realizes that our dollar is worthless they will agree upon another "reserve currency" (secret meetings to do just that have already been held...with the US not even invited) Stand by...it is about to get very ugly.
Not yet, but it will come if the population votes to continue the present course, even then it’s not for sure.
Thanks.
I understand and agree with the fundamental importance of the US losing reserve currency status, I just don’t quite understand the specific mechanism as to WHY that actually allows the Fed to misbehave fiscally.
So the world suddenly discovers that the largest economy the earth has ever known with vast reserves of nearly every natural resource known to mankind has a currency that is worthless?
Idiocy, sheer idiocy. Do you really think there’s another currency that can replace the US dollar? You’d trust the Chinese communist Yuan over a US dollar? Utterly absurd, FRiend. Think a bit.