We’ll just inflate our currency to pay the bills. We’re getting away with it somewhat because the dollar is the world’s reserve currency.
Exactly. We will get away with it until we can’t. What would happen? We dilute the money so much that the world looks for other reserve currencies. Then it will crash hard. Will it happen tomorrow? No. But you would be a fool if you think we can sustain this road forever.
Well, our currency may be the world’s reserve, but I am not
confident in it continuing to be.
I do think the BRICS attempt to replace it is flawed
ultimately. There isn’t a currency that is equal to
the dollar, and what are they going to replace it with?
China’s economy is having major seismic activity. Just
exactly who has the economy large enough to step in?
The plan seems to be to come up with a currency that
will be used in all the nations on board, but with
so many nations ‘in the pot’, how stable will that
be?
We have to get our act together and pay down our debt
now. We’ve waited far too long, but I still believe
it can be done, if we set our mind to it.