The US Dollar As An Economic "Weapon" Is Declining

[Pete7469]

I'm not going to pretend that I have some significant understanding of currency markets and global trade, but listening to the video the first thing that struck me was that there are people using the dominance of the dollar to fuck other countries, running our economy.

It's not as if we don't have enough enemies as it is, relics from all the stupid shit we've done since 1917. I don't view BRICS as a threat, but the fact they exist and desire to be more than a threat should have our people trying to be aware of what these assholes are doing in those weird meetings and behind the scenes are doing under our flag.

 

[Anomalism]

It'll probably end up being good for them. Bad for us.

 

[pknopp]

It's going to be really bad for us over our debt but it's going to be good when we can no longer pretend to run the world.

 

[Anomalism]

It's going to be really bad for us over our debt but it's going to be good when we can no longer pretend to run the world.

Hopefully China is cool about it.

 

[Dekster]

It'll probably end up being good for them. Bad for us.

It isn't an either/or. It could be good or bad for both. Forex exchange rates can and have been manipulated by banks so bypassing them isn't a necessarily bad thing for one side or the other. BRICS has no central currency to work off of though which still makes the system indirectly dependent on the dollar to set their valuation, and China still arbitrarily sets its currency value which means BRICS will always be subject to manipulation as well. Anyway, this is more a symbolic gesture than a meaningful threat to the US dollar.

 

[johnwk]

I'm not going to pretend that I have some significant understanding of currency markets

Well then, your first lesson ought to be learning the difference between a United States Dollar:

And a Federal Reserve Note:

United States Dollars have not lost their purchasing power:

JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."__Senator Daniel Webster, DEBATING THE BANK BILL May 25th, 1832

 

[RhodyPatriot]

Oh, the dollar is still an economic weapon.

It's just been turned inward on its own citizens.