Goodbye to the Dollar

[georgephillip]

Never Underestimate Trump.

Goodbye to the Dollar

"The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency.

"Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war.

"These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade.

"This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out."

"McCoy explains what a world financial order untethered from the dollar would look like:

"'For the majority of Americans, the 2020s will likely be remembered as a demoralizing decade of rising prices, stagnant wages, and fading international competitiveness.'

"'After years of swelling deficits fed by incessant warfare in distant lands, in 2030 the U.S. dollar eventually loses its special status as the world’s dominant reserve currency.'

"'Suddenly, there are punitive price increases for American imports ranging from clothing to computers...'"

And who will get the blame, a corrupt, gold-plated con man with the IQ of a senile chimp or immigrant caravans on our southern border?

 

[whitehall]

Who the hell is Chris Hedges? Why can't the crazy left come up with an opinion and an argument instead of posting left wing blogs that they like?

 

[Oddball]

How about blaming the people responsible: politicians in both parties and the Federal Reserve?

Naaaaaw, the truth would be too much of a burden for you commies to tell.

 

[Marion Morrison]

Didn't this fucker start the same subject yesterday?

 

[Billy_Kinetta]

Fuck 'em. Go back on the gold standard.

 

[Godboy]

Fuck 'em. Go back on the gold standard.

Agreed. We have the largest stockpile of gold in the world, by far.

 

[Oddball]

Fuck 'em. Go back on the gold standard.

Might happen organically.

 

[SassyIrishLass]

The dollar isnt going anywhere.

Good gawd

 

[Toro]

Another crazy thread.

 

[georgephillip]

Who the hell is Chris Hedges? Why can't the crazy left come up with an opinion and an argument instead of posting left wing blogs that they like?

Chris Hedges - Wikipedia

"Christopher Lynn Hedges (born September 18, 1956) is an American journalist, Presbyterian minister, and visiting Princeton University lecturer..."

" Hedges spent nearly two decades as a foreign correspondent in Central America, West Asia, Africa, the Middle East, and the Balkans.

"He has reported from more than fifty countries, and has worked for The Christian Science Monitor, NPR, Dallas Morning News, and The New York Times,[4] where he was a foreign correspondent for fifteen years (1990–2005)."

Would you care to dispute any of Hedge's claims in the article like this one, for example:

Goodbye to the Dollar

"The U.S. demand that Germany and other European states halt the importation of Russian gas likewise saw the Europeans ignore Washington.

"China and Russia, traditionally antagonistic, are now working in tandem to free themselves from the dollar. Moscow has transferred $100 billion of its reserves into Chinese yuan, Japanese yen and euros.

"And, as ominously, foreign governments since 2014 are no longer storing their gold reserves in the United States or, as with Germany, removing them from the Federal Reserve. Germany has repatriated its 300 tons of gold ingots. The Netherlands repatriated its 100 tons."

 

[toomuchtime_]

Never Underestimate Trump.

Goodbye to the Dollar

"The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency.

"Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war.

"These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade.

"This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out."

"McCoy explains what a world financial order untethered from the dollar would look like:

"'For the majority of Americans, the 2020s will likely be remembered as a demoralizing decade of rising prices, stagnant wages, and fading international competitiveness.'

"'After years of swelling deficits fed by incessant warfare in distant lands, in 2030 the U.S. dollar eventually loses its special status as the world’s dominant reserve currency.'

"'Suddenly, there are punitive price increases for American imports ranging from clothing to computers...'"

And who will get the blame, a corrupt, gold-plated con man with the IQ of a senile chimp or immigrant caravans on our southern border?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Why do liberals hate America so much?

 

[georgephillip]

How about blaming the people responsible: politicians in both parties and the Federal Reserve?

Naaaaaw, the truth would be too much of a burden for you commies to tell.

Has Trump made the situation better or worse, Twinkie?

Goodbye to the Dollar

"The dollar, because of astronomical government debt now at $21 trillion, a debt that will be augmented by Trump’s tax cuts costing the U.S. Treasury $1.5 trillion over the next decade, is becoming less and less trustworthy.

"The debt-to-GDP ratio is now more than 100 percent, a flashing red light for economists.

"Our massive trade deficit depends on selling treasury bonds abroad.

"Once those bonds decline in value and are no longer considered a stable investment, the dollar will suffer a huge devaluation.

"There are signs this process is underway.

"Central-bank reserves hold fewer dollars than they did in 2004.

"There are fewer SWIFT payments–the exchange for interbank fund transfers–in dollars than in 2015.

"Half of international trade is invoiced in dollars, although the U.S. share of international trade is only 10 percent."

 

[georgephillip]

Never Underestimate Trump.

Goodbye to the Dollar

"The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency.

"Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war.

"These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade.

"This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out."

"McCoy explains what a world financial order untethered from the dollar would look like:

"'For the majority of Americans, the 2020s will likely be remembered as a demoralizing decade of rising prices, stagnant wages, and fading international competitiveness.'

"'After years of swelling deficits fed by incessant warfare in distant lands, in 2030 the U.S. dollar eventually loses its special status as the world’s dominant reserve currency.'

"'Suddenly, there are punitive price increases for American imports ranging from clothing to computers...'"

And who will get the blame, a corrupt, gold-plated con man with the IQ of a senile chimp or immigrant caravans on our southern border?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Why do liberals hate America so much?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Maybe European and NATO elites are worried Trump will impose economic sanctions on them and steal their gold if they don't follow the current Washington Consensus dictates?

Washington Consensus - Wikipedia

"The criticism is that workers in the Third World economy nevertheless remain poor, as any pay raises they may have received over what they made before trade liberalization are said to be offset by inflation, whereas workers in the First World country become unemployed, while the wealthy owners of the multinational grow even more wealthy.[35]

"Anti-globalism critics further claim that First World countries impose what the critics describe as the consensus's neoliberal policies on economically vulnerable countries through organizations such as the World Bank and the International Monetary Fund and by political pressure and bribery.

"They argue that the Washington Consensus has not, in fact, led to any great economic boom in Latin America, but rather to severe economic crises and the accumulation of crippling external debts that render the target country beholden to the First World."

And when bribery and political pressure fail?

Seven Years in Iraq: An Iraq War Timeline - TIME

 

[toomuchtime_]

Never Underestimate Trump.

Goodbye to the Dollar

"The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency.

"Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war.

"These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade.

"This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out."

"McCoy explains what a world financial order untethered from the dollar would look like:

"'For the majority of Americans, the 2020s will likely be remembered as a demoralizing decade of rising prices, stagnant wages, and fading international competitiveness.'

"'After years of swelling deficits fed by incessant warfare in distant lands, in 2030 the U.S. dollar eventually loses its special status as the world’s dominant reserve currency.'

"'Suddenly, there are punitive price increases for American imports ranging from clothing to computers...'"

And who will get the blame, a corrupt, gold-plated con man with the IQ of a senile chimp or immigrant caravans on our southern border?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Why do liberals hate America so much?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Maybe European and NATO elites are worried Trump will impose economic sanctions on them and steal their gold if they don't follow the current Washington Consensus dictates?

Washington Consensus - Wikipedia

"The criticism is that workers in the Third World economy nevertheless remain poor, as any pay raises they may have received over what they made before trade liberalization are said to be offset by inflation, whereas workers in the First World country become unemployed, while the wealthy owners of the multinational grow even more wealthy.[35]

"Anti-globalism critics further claim that First World countries impose what the critics describe as the consensus's neoliberal policies on economically vulnerable countries through organizations such as the World Bank and the International Monetary Fund and by political pressure and bribery.

"They argue that the Washington Consensus has not, in fact, led to any great economic boom in Latin America, but rather to severe economic crises and the accumulation of crippling external debts that render the target country beholden to the First World."

And when bribery and political pressure fail?

Seven Years in Iraq: An Iraq War Timeline - TIME

You seem to believe the European nations are developing nations. Are you serious?

The fact is the Europeans agree with Trump's assessment of Russian violations of the treat and the danger the Venezuelan chaos presents to South America but lack the boldness to act on their own, and need American leadership.

 

[Rustic]

Never Underestimate Trump.

Goodbye to the Dollar

"The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency.

"Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war.

"These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade.

"This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out."

"McCoy explains what a world financial order untethered from the dollar would look like:

"'For the majority of Americans, the 2020s will likely be remembered as a demoralizing decade of rising prices, stagnant wages, and fading international competitiveness.'

"'After years of swelling deficits fed by incessant warfare in distant lands, in 2030 the U.S. dollar eventually loses its special status as the world’s dominant reserve currency.'

"'Suddenly, there are punitive price increases for American imports ranging from clothing to computers...'"

And who will get the blame, a corrupt, gold-plated con man with the IQ of a senile chimp or immigrant caravans on our southern border?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Why do liberals hate America so much?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Maybe European and NATO elites are worried Trump will impose economic sanctions on them and steal their gold if they don't follow the current Washington Consensus dictates?

Washington Consensus - Wikipedia

"The criticism is that workers in the Third World economy nevertheless remain poor, as any pay raises they may have received over what they made before trade liberalization are said to be offset by inflation, whereas workers in the First World country become unemployed, while the wealthy owners of the multinational grow even more wealthy.[35]

"Anti-globalism critics further claim that First World countries impose what the critics describe as the consensus's neoliberal policies on economically vulnerable countries through organizations such as the World Bank and the International Monetary Fund and by political pressure and bribery.

"They argue that the Washington Consensus has not, in fact, led to any great economic boom in Latin America, but rather to severe economic crises and the accumulation of crippling external debts that render the target country beholden to the First World."

And when bribery and political pressure fail?

Seven Years in Iraq: An Iraq War Timeline - TIME

You eat far too many dingleberries

 

[Deno]

Never Underestimate Trump.

Goodbye to the Dollar

"The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency.

"Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war.

"These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade.

"This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out."

"McCoy explains what a world financial order untethered from the dollar would look like:

"'For the majority of Americans, the 2020s will likely be remembered as a demoralizing decade of rising prices, stagnant wages, and fading international competitiveness.'

"'After years of swelling deficits fed by incessant warfare in distant lands, in 2030 the U.S. dollar eventually loses its special status as the world’s dominant reserve currency.'

"'Suddenly, there are punitive price increases for American imports ranging from clothing to computers...'"

And who will get the blame, a corrupt, gold-plated con man with the IQ of a senile chimp or immigrant caravans on our southern border?

You libtatds and your

“The Sky Is Falling because of TRUMP” threads are a hoot….

The Sane know you are full of SHIT…

What about you Tards and your penchant for quantitative easing?

 

[georgephillip]

Never Underestimate Trump.

Goodbye to the Dollar

"The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency.

"Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war.

"These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade.

"This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out."

"McCoy explains what a world financial order untethered from the dollar would look like:

"'For the majority of Americans, the 2020s will likely be remembered as a demoralizing decade of rising prices, stagnant wages, and fading international competitiveness.'

"'After years of swelling deficits fed by incessant warfare in distant lands, in 2030 the U.S. dollar eventually loses its special status as the world’s dominant reserve currency.'

"'Suddenly, there are punitive price increases for American imports ranging from clothing to computers...'"

And who will get the blame, a corrupt, gold-plated con man with the IQ of a senile chimp or immigrant caravans on our southern border?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Why do liberals hate America so much?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Maybe European and NATO elites are worried Trump will impose economic sanctions on them and steal their gold if they don't follow the current Washington Consensus dictates?

Washington Consensus - Wikipedia

"The criticism is that workers in the Third World economy nevertheless remain poor, as any pay raises they may have received over what they made before trade liberalization are said to be offset by inflation, whereas workers in the First World country become unemployed, while the wealthy owners of the multinational grow even more wealthy.[35]

"Anti-globalism critics further claim that First World countries impose what the critics describe as the consensus's neoliberal policies on economically vulnerable countries through organizations such as the World Bank and the International Monetary Fund and by political pressure and bribery.

"They argue that the Washington Consensus has not, in fact, led to any great economic boom in Latin America, but rather to severe economic crises and the accumulation of crippling external debts that render the target country beholden to the First World."

And when bribery and political pressure fail?

Seven Years in Iraq: An Iraq War Timeline - TIME

You seem to believe the European nations are developing nations. Are you serious?

The fact is the Europeans agree with Trump's assessment of Russian violations of the treat and the danger the Venezuelan chaos presents to South America but lack the boldness to act on their own, and need American leadership.

The fact is the Europeans agree with Trump's assessment of Russian violations of the treat and the danger the Venezuelan chaos presents to South America but lack the boldness to act on their own, and need American leadership.

Why would you think Trump is capable of leadership?

Goodbye to the Dollar

"The U.S. demand that Germany and other European states halt the importation of Russian gas likewise saw the Europeans ignore Washington.

"China and Russia, traditionally antagonistic, are now working in tandem to free themselves from the dollar. Moscow has transferred $100 billion of its reserves into Chinese yuan, Japanese yen and euros.

"And, as ominously, foreign governments since 2014 are no longer storing their gold reserves in the United States or, as with Germany, removing them from the Federal Reserve.

"Germany has repatriated its 300 tons of gold ingots.

"The Netherlands repatriated its 100 tons."

The US imposed an economic stranglehold on the entire planet in 1945, and every POTUS since then has managed to make that free ride seem benign.

Then came Trump, Bolton, Abrams, and Pompeo and the whole truth came into view.

 

[Aba Incieni]

Send all your worthless dollars to me, chump.

 

[georgephillip]

Never Underestimate Trump.

Goodbye to the Dollar

"The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency.

"Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war.

"These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade.

"This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out."

"McCoy explains what a world financial order untethered from the dollar would look like:

"'For the majority of Americans, the 2020s will likely be remembered as a demoralizing decade of rising prices, stagnant wages, and fading international competitiveness.'

"'After years of swelling deficits fed by incessant warfare in distant lands, in 2030 the U.S. dollar eventually loses its special status as the world’s dominant reserve currency.'

"'Suddenly, there are punitive price increases for American imports ranging from clothing to computers...'"

And who will get the blame, a corrupt, gold-plated con man with the IQ of a senile chimp or immigrant caravans on our southern border?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Why do liberals hate America so much?

That must be why NATO has supported Trump's withdrawal from the nuclear arms treaty and why the European nations have followed Trump's lead in opposing Maduro, because the no longer trust American leadership.

Maybe European and NATO elites are worried Trump will impose economic sanctions on them and steal their gold if they don't follow the current Washington Consensus dictates?

Washington Consensus - Wikipedia

"The criticism is that workers in the Third World economy nevertheless remain poor, as any pay raises they may have received over what they made before trade liberalization are said to be offset by inflation, whereas workers in the First World country become unemployed, while the wealthy owners of the multinational grow even more wealthy.[35]

"Anti-globalism critics further claim that First World countries impose what the critics describe as the consensus's neoliberal policies on economically vulnerable countries through organizations such as the World Bank and the International Monetary Fund and by political pressure and bribery.

"They argue that the Washington Consensus has not, in fact, led to any great economic boom in Latin America, but rather to severe economic crises and the accumulation of crippling external debts that render the target country beholden to the First World."

And when bribery and political pressure fail?

Seven Years in Iraq: An Iraq War Timeline - TIME

You eat far too many dingleberries

You eat far too many dingleberries

What are you binging on?

 

[Lewdog]

Unless OPEC changes that oil is traded in dollars to some other currency, the dollar will stay king of currency.