Will Sanctions End the Dollar's Global Reserve Currency Status?

[pknopp]

Neither are just theories. Both have been put into practice. If you don't understand then it's better to not say anything.

If you say so.

 

[Donald H]

If you say so.

It's not just me saying so, it's the facts. Natural boxed himself in with his condemnation of Keysnesianism, and so I offered him a choice. Maybe he has a third option? Maybe you do too?

 

[Natural Citizen]

Keynesianism as opposed to supply side economics? Do you understand what you are saying?

Donald, In terms of economics, I'm probably on an whole different level than you. Respectfully speaking. And, really, I hate to say it that way. But I'm rather confident that it's true. Normally I wouldn't put it so bluntly but you seem a bit too sure of yourself and it's compounded by the fact that you seem to be of the impression that my terms of controversy are going to be limited to the seemingly shallow nature of yours.

I assure you that my terms of controversy wil not in any way conform to yours. In fact, I'd probably take you to places you've never even thought about going in discussion before.

For the record, though, I oppose government growth. So supply-side babble is a moot point that whenever inserted into discussion (with me anyway) only serves to keep dialogue contained/dumbed down. In my view. I don't care for shallow conversation. In fact, I find repetitive, cookie-cutter type dialogue downright insulting.

 

[Natural Citizen]

It's not just me saying so, it's the facts. Natural boxed himself in with his condemnation of Keysnesianism, and so I offered him a choice. Maybe he has a third option? Maybe you do too?

Do you know why the Majority is always wrong, Donald? I'll tell you why. It's because the Majority always votes against the guy who says, hey, let's try something new, let's have roadkill for supper instead of Burger King or McDonalds.

The Majoriy never thinks outside of the box they've been systematically placed into. It's either Burger King or Mcdonalds. A choice between the same thing in terms of outcome, really. You see?

I'm a fan of Austrian economics, personally. And tax is theft!

 

[pknopp]

It's not just me saying so, it's the facts. Natural boxed himself in with his condemnation of Keysnesianism, and so I offered him a choice. Maybe he has a third option? Maybe you do too?

I'm not interested in discussing theories.

 

[Natural Citizen]

I'm not interested in discussing theories.

One of the biggest problems today is that there is a problem with definitions and understanding of what kinds of policies we actually have.

Unfortunately, this is a result of a hundred years of teaching our young people that government is necessary to redistribute wealth. Except that it redistributes it upward, and ruins the middle class. Which expands the discussion. Or should. Assuming we aren't so foolish as to compare cheese burgers with cheeseburgers, as if one is different than the other, in the broader scope.

What we have is economic interventionism. We have a planned economy. We have a welfare state. We have inflationism. We have central economic planning by a central bank. We have a belief in deficit financing....dot dot dot...

Until that's realized collectively, it's basically a waste of keystrokes.

 

[Donald H]

Do you know why the Majority is always wrong, Donald? I'll tell you why. It's because the Majority always votes against the guy who says, hey, let's try something new, let's have roadkill for supper instead of Burger King or McDonalds.

The Majoriy never thinks outside of the box they've been systematically placed into. It' either Burgur King or Mcdonalds.

You see?

I'm a fan of Austrian economics, personally. And tax is theft!

The majority isn't always wrong and your Austrian economics is pie in the sky.

No taxation is for you and people like Ron Paul to dream about for ever and ever.

Is it either Burger King or MacDonald's in America? You may have a point there but I'm a Canadian and I can't relate to that in Canada quite yet.

Will Sanctions End the Dollar's Global Reserve Currency Status?​

It would take China to initiate it and that would be an act of war. So not yet at least and depending on Russia's success or failure. Or nuclear war?

The Russia/China alliance will most likely be the result of this US led war and that will initiate the challenge to the USD.

 

[Natural Citizen]

The majority isn't always wrong and your Austrian economics is pie in the sky.

No taxation is for you and people like Ron Paul to dream about for ever and ever.

Is it either Burger King or MacDonald's in America? You may have a point there but I'm a Canadian and I can't relate to that in Canada quite yet.

Will Sanctions End the Dollar's Global Reserve Currency Status?​

It would take China to initiate it and that would be an act of war. So not yet at least and depending on Russia's success or failure. Or nuclear war?

The Russia/China alliance will most likely be the result of this US led war and that will initiate the challenge to the USD.

Whatever, then, Donald.

Just so long as we're clear that I'm not the one who has ''boxed himself.''

I don't like boxes, Donald. In fact I purposefuly avoid them. theyre too constraining. I need to be free. Do you agree that we should all be free, Donald? I'm of the view that this is the only thing we really have to agree on.

 

[Donald H]

One of the biggest problems today is that there is a problem with definitions and understanding of what kinds of policies we actually have.

Unfortunately, this is a result of a hundred years of teaching our young people that government is necessary to redistribute wealth. Except that it redistributes it upward, and ruins the middle class. Which expands the discussion. Or should. Assuming we aren't so foolish as to compare cheese burgers with cheeseburgers, as if one is different than the other, in the broader scope.

What we have is economic interventionism. We have a planned economy. We have a welfare state. We have inflationism. We have central economic planning by a central bank. We have a belief in deficit financing....dot dot dot...

Until that's realized collectively, it's basically a waste of keystrokes.

Just don't try to make out that everybody is opposed to 'all' of your babbling. Government redistributing upward is the sensible part.

The rest of it is 'ron paul' and pie in the sky.

 

[Donald H]

Whatever, then, Donald.

Just so long as we're clear that I'm not the one who has ''boxed himself.''

I don't like boxes, Donald. I need to be free. Do you agree that we should all be free, Donald? I'm of the view that that is the only thing we really have to agree on.

Canada is one of the most free countries in the world. America is rated at 58th. Don't try selling me any lessons on freedom.

Oh, and our freedom is in spite of taxation that's claimed to be higher than in the US.

The 27 countries in the world with the most freedom

Freedom House, an independent watchdog organization, measures freedom in terms of civil liberties and political rights for an annual report.

www.businessinsider.com

Check it out! Do you see any indications that 'freedom' is directly proportional to taxation?

 

[Natural Citizen]

Government redistributing upward is the sensible part.

Yes, well, governent is force. Here in America we want as little of it as possible.

"Strictly limited,'' I think it was.

 

[Donald H]

Yes, well, governent is force. Here in America we want as little of it as possible.

"Strictly limited,'' I think it was.

I think my post #50 was a clean kill. Lick your wounds and get back to me on which countries in the world have the lesser taxation? Or none?

Or in other words, make your point or just admit that you're in over your head?

 

[Natural Citizen]

I think my post #50 was a clean kill. Lick your wounds and get back to me on which countries in the world have the lesser taxation? Or none?

Or in other words, make your point or just admit that you're in over your head?

No, Donald, it's way deeper than that. I'll give you the last word, though. I've had this discussion a hundred times on here. At least.

 

[Donald H]

No, Donald, it's way deeper than that. I'll give you the last word, though. I've had this discussion a hundred times on here. At least.

I bet your dream of no taxation wasn't as thoroughly shot down the other 99 times.

It really does appear that higher taxation is directly proportional to 'freedom' in the world's leading democracies. The professed libertarian will never stand his ground when his 'pie in the sky' wet dreams are challenged by the real world.

So how about SS economics in which lower taxation can be claimed to be the answer, based on point 'A' on the Laffer curve, where revenue decreases with higher taxation?

I see no other option other than Ron Paul's and your dreams forever and forever.

 

[Natural Citizen]

I bet your dream of no taxation wasn't as thoroughly shot down the other 99 times.

It really does appear that higher taxation is directly proportional to 'freedom' in the world's leading democracies. The professed libertarian will never stand his ground when his 'pie in the sky' wet dreams are challenged by the real world.

So how about SS economics in which lower taxation can be claimed to be the answer, based on point 'A' on the Laffer curve, where revenue decreases with higher taxation?

I see no other option other than Ron Paul's and your dreams forever and forever.

Donald, we likely don't even define the term freedom the same way.

Dictionary definitions simply will not suffice when referenced in context with the tradional philosophy of American governance. Mans relationship with government and whatnot.

As I said. It's a much deeper discussion than I think you're prepared to have or understand it to be. I know that because, as I said, I've had this dscussion a hundred times.

 

[Rogue AI]

America simply won't accept it!
All of America's power will be brought to bear to stop it.

Unfortunately that will involve China in a very negative way.

Almost assuredly the reason why China hasn't caused it to happen yet.

It's no longer up to America to decide. This past year and the disaster that is Biden, particularly in regards to overbearing sanctions on Russia, have pushed this to the limit. We cannot wage war on people and make them accept our currency, that's ludicrous.

 

[Donald H]

Donald, we likely don't even define the term freedom the same way.

Well isn't that a peach! So I'll throw in economic freedom too.

https://www.heritage.org/index/ranking.

Seeing any correlation between higher taxation and freedom yet?

With all due respects to your ideology, your country isn't the pie in your dreams, it's still 'in the sky', due to lib'ruls, and so there's still the possibility of the pie falling out of the sky for you, Ron Paul, and libertarians.

Can you not look to the future with some examples of freedom in countries that don't steal your money through taxation?
Freedom to keep all your money!

 

[georgephillip]

PRC's yuan is not going to be a reserve currency...they have serious issues about bonds being secured with bonds based on real estate that is over valued.

Any over-valued real estate in the US?

Boom, bust, or boring? Where the housing market is going in 2022 as told by 7 forecast models

As long as the US is willing to export jobs by running persistent trade deficits, the dollar will remain the principal global reserve currency.

 

[georgephillip]

A fiat currency is based on a nation's production. Russia has a single product. Oil. Nothing else. Not even potatoes and vodka.
Sanctions on their oil and they are done.
Ukraine has more to export than Russia.

Russia’s Top 10 Exports 2021

"The following export product groups represent the highest dollar value in Russian global shipments during 2021. Also shown is the percentage share each export category represents in terms of overall exports from Russia.

1. Mineral fuels including oil: US$211.5 billion (43% of total exports)
2. Gems, precious metals: $31.6 billion (6.4%)
3. Iron, steel: $28.9 billion (5.9%)
4. Fertilizers: $12.5 billion (2.5%)
5. Wood: $11.7 billion (2.4%)
6. Machinery including computers: $10.7 billion (2.2%)
7. Cereals: $9.1 billion (1.9%)
8. Aluminum: $8.8 billion (1.8%)
9. Ores, slag, ash: $7.4 billion (1.5%
10. Plastics, plastic articles: $6.2 billion (1.3%)"

 

[georgephillip]

American industry on the 18th and 19th Century was created and grown by private citizens

Private citizens benefitted from government land grants for railroad construction, homesteads, and state universities.

Government tariffs allowed infant US industries to grow without fear of foreign competition.

In the wake of WWII, the GI Bill and mortgages helped facilitate the biggest middle class in world history.

Try thinking of government as a fourth factor of production designed to lower the cost of living and doing business instead of a threat to your "freedom."

https://www.researchgate.net/public...blic_Infrastructure_and_Economic_Rent_Capture