What If the Dollar Falls?

Nordberg said:
It is neither you complete and total lying idiot, The debt ceiling pertains to last year's debt. It is just paying the bills for what you already used, you dumb shit. The impasse is all Repubs, 100 percent you utter dolt.
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Blatant lie.
The federal government raises money in one of three ways:
1. Borrowing it.
2. Tax for it.
3. Print it.

There is no impasse. The Fed is printing money faster than ever before. We are headed to a cash crash, not a debt crash.
 
Guille said:
It means no such thing.
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It means exactly that.
Guille said:
I swear to God you people talking about the dollar failing seriously need to look into taking Econ 101, Hillsdale offers Econ 101 online for free, I urge you to take advantage of that.
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No. It is YOU that needs to study what money actually is. Straw man fallacy.
Guille said:
You made a statement about the dollar failing. How exactly is that going to happen? In your own words.
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RQAA.

Money is two things:
1. A store of value (you can trade it for things of value, such as food, housing, vehicles, clothes, etc). You can also trade things of value for money. In other words, it's a medium of barter.
2. A unit of account. You can set a price with it.

Anything can be used for money. Gold, silver, clamshells, pieces of paper, plastic, stones, etc. Gold is the oldest form of money for one simple reason: You can verify the amount and purity of gold easily. The technique for doing so is in the capability of most any merchant.

Fiat currency always fails. The dollar is no exception. Even a cursory look at history is rife with examples...the hyperinflation of the German Mark...the hyperinflation of the Brazilian Real...the hyperinflation of the Japanese Yen...the hyperinflation Mexican peso...and now the rapid inflation of the dollar.

For example: a gallon of gasoline in 1960 was approx. 20 cents per gallon. Today, it is $5 per gallon. The value of the dollar against this single commodity has fallen to 1/25th of it's value in just that interval of time. Most of it took place in the Obama years and again during the Biden administration.
Transportation costs (and associated prices of all goods) increase just from this single factor alone.

The federal government buys the same shit you do, just a lot more of it. To do this, they must raise even MORE money then they already did by printing it. In other words, they print even MORE of it.
It's a hopeless circle, leading to the rejection of the dollar by the population. That population is ALREADY looking for an alternative currency. Once they settle on one, the switch will happen almost overnight. There is NOTHING the government can do to stop it.

Other nations are returning to gold and silver. The federal government is one lousy place for converting to that! They're broke!
 
ptif219 said:
China wants to replace the dollar as the international currency
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They won't be able to, of course.

International trade is settled in either gold or local currency. For example: If I buy something from the UK, I must pay for it in pounds, not dollars. Similarly, if someone in the UK wants to buy something from the US, they must use dollars, not pounds.

Since Biden has poisoned the holding of dollars by foreign interests, they are unloading them by converting them to something else. Worse, they don't want to buy much of anything from the US. They simply don't need dollars so much anymore.

Gold is still used to settle international trade. It is becoming more common to do so.

Printing dollars faster than wealth creation (through capitalism) causes inflation.
The government WANTS inflation. It makes it easier to pay off the debt they've accumulated, using the new funny money they've printed.

That can only go on for so long, of course.
 
Guille said:
So fucking what? Tell me exactly how this will effect you.

btw, there is more than one reserve currency, the dollar has never been THE international reserve currency.
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Blatant lie. The dollar has been used over the years to settle international trade. It was backed by gold, for one thing (at least until Nixon released the dollar from ANY backing of anything!).
 
Nordberg said:
Negotiate? Just pass the debt ceiling. Why does paying last year's bills have to do with anything else? The Reds are risking the nation's fiscal health to make points with their very stupid followers. McCarthy is insisting we do what he wants. That is the person misusing power. As usual, you have it all wrong.
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There is no such thing as a 'debt ceiling'. Borrowing more money will not solve the financial mess the federal government is in.
 
Guille said:
OK ptif I see you won't answer the question. Fine. Who stands to gain from you and other Americans losing faith in the dollar? The only way to kill the dollar is to convince people it's not worth anything...who would want to do that? I suggest that only an enemy of America would want that so why are you embracing it? Think about that...you're being manipulated the same way, by the same people, who are manipulating the people you see as enemies.
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Oddly enough, the federal government WANTS inflation. They are hoping the public won't notice. It's a vain hope, to be sure. People are already searching for another currency.
 
Nordberg said:
Negotiate? Just pass the debt ceiling. Why does paying last year's bills have to do with anything else? The Reds are risking the nation's fiscal health to make points with their very stupid followers. McCarthy is insisting we do what he wants. That is the person misusing power. As usual, you have it all wrong.
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No Biden wants it his way he is not the King no matter what he thinks
 
ptif219 said:
The Democrats are already acting like we are a Banana republic
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Why? Did they attempt to overthrow the government because they lost the election?

What kind of evil fuckwit seeks to beat and maim American police officers then seek to overthrow the elected government?
 
ptif219 said:
Biden has pissed off many allies and now manyy are selling oil to China for Chinese currency. This means as this grows our currency will become useless. Biden is destrying this country and making us the laughing stock to the rest of the world
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"Biden has pissed off many allies." that's funny, he has an international coalition aiding the Ukraine fighting your hero Vladimir so he can't be pissing them too bad, besides, it was during your Messiah's Administration that China spread their influence worldwide including influence in EU

And who the f*ck is going to take an opinion coming from a bloated Fox demogogue offered in a recognized propaganda site as serious
 
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