@jmski52 said:
millions of unskilled & uneducated future democrats (coming soon to a neighborhood near you)
Dude, you really need to get and travel this country.
I for one don't need to, they're coming to me.
Having a "quality" home built by a national builder. All of the contracted workers are of foreign nationality and their skill level is horrible. A tile layer was bragging that he is only 16 years old and illegal. He filled a one inch gap between shower wall tile and ceiling with caulk. I asked my builder (their only rep on site is a construction manager who is overseeing 15 houses at a time) how they can afford all of the rework. "Simple," he said, "contractors don't get paid until they make things right." Unfortunately a lot of the "wrongs" are hidden in the walls.
You can't build a "quality" product when you hire the cheapest labor and then fail to provide proper oversight. Where did all the skilled American labor go when the cheap "imported" labor replaced them?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The economic reset will happen just like in every other Country that has experienced it.
Here in the good old USA we had 2 massive resets. The Revolutionary War, and Civil War.
Also on a smaller scale, 1870's when silver was no longer considered legal tender, and gold in the 1930's.
There is nothing that will stop the Big G from switching us to a new form of money in the future. Previous generations that had alot more fight in them did not stop those events, and future generations will not either.
Today's wealth is in 401k and property. Thats what they will hit when they want to transfer wealth back into the hands of the Big G. Arguably that did happen during the Great Recession.
The one that is making your dollar smaller each day. The day will come that even Americans don't want them.
But hasn't this (and cost of living increases) always been happening? I remember in the 80's wishing I would have bought a house in the mid '70's for $30,000 (in our area). Instead I paid DOUBLE that for my condo. A condo which today would cost $700,000. However - those that bought the houses for $30,000 bought from people who paid $15,000. I remember talking to a great aunt who bought a house with her husband in Seattle in 1914 for $5000! When I started my first corporate job I was making $10,300 a year. That same entry level corporate job starts at $80,000 today. My father had a family of 5 on a military salary of $79 a month in the '50's.
Dude, you really need to get and travel this country.
I've put on more miles than you ever will, and I've done it at ground level. Still do.
The economic reset will happen just like in every other Country that has experienced it.
Here in the good old USA we had 2 massive resets. The Revolutionary War, and Civil War.
Also on a smaller scale, 1870's when silver was no longer considered legal tender, and gold in the 1930's.
There is nothing that will stop the Big G from switching us to a new form of money in the future. Previous generations that had alot more fight in them did not stop those events, and future generations will not either.
Today's wealth is in 401k and property. Thats what they will hit when they want to transfer wealth back into the hands ofthe Big G. Arguably that did happen during the Great Recession.
Astute post, Kentuckyguy.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
millions of unskilled & uneducated future democrats (coming soon to a neighborhood near you)
Dude, you really need to get and travel this country.
This is what we are facing:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”
― Alexander Fraser Tytler
This time around, the result may be Orwellian (as in "1984").
I don't disagree with you dcarr. My comment was in response to jmski who remarked about a certain demographic and I encouraged him to see the "unskilled and uneducated" infest both parties.
@jmski52 said:
millions of unskilled & uneducated future democrats (coming soon to a neighborhood near you)
Dude, you really need to get and travel this country.
This is what we are facing:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”
― Alexander Fraser Tytler
This time around, the result may be Orwellian (as in "1984").
This place gets stranger by the day. SMH!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
@jmski52 said:
millions of unskilled & uneducated future democrats (coming soon to a neighborhood near you)
Dude, you really need to get and travel this country.
This is what we are facing:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”
― Alexander Fraser Tytler
This time around, the result may be Orwellian (as in "1984").
This place gets stranger by the day. SMH!
Dismissing Tytler's observation as "strange" won't make it go away, or change the outcome.
My comment was in response to jmski who remarked about a certain demographic and I encouraged him to see the"unskilled and uneducated" infest both parties.
I never said it didn't.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
millions of unskilled & uneducated future democrats (coming soon to a neighborhood near you)
Dude, you really need to get and travel this country.
This is what we are facing:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”
― Alexander Fraser Tytler
This time around, the result may be Orwellian (as in "1984").
Ed Dowd thinks that there is a worldwide depopulation event in progress and that the dollar will fail to the upside.
Add higher rates & lower demand to that scenario and I see lots of commercial & personal loans being defaulted on. I don't see that benefiting anyone besides the banking cartel since they'll get bailed out with taxpayer money by their bought politicians if they get into trouble.
Mere mortals don't have that luxury. The same rules that apply to normal people should especially apply to the big banks. Let the big banks fail or split them up, ala' the AT&T breakup of the 1980's. Make them compete instead of collude. No more TBTF bailouts.
Like that even has a whiff of a chance.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Ed Dowd thinks that there is a worldwide depopulation event in progress and that the dollar will fail to the upside.
Add higher rates & lower demand to that scenario and I see lots of commercial & personal loans being defaulted on.
Existing loans (the only kind capable of seeing a default) had their rate set at the time of the loan origination. Higher rates after the fact have no affect on existing loans unless the loan was set with an adjustable rate. Anyone buying an adjustable rate in today's loan environment is should not be signing loan papers.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The money on a bank balance sheet is as real as any other money.
It may be real for the banks, but consider that the Fed wants to be able to monitor your bank accounts, and have control over the funds in your accounts. By law, the deposits you make into your account are a loan to the bank and are not owned by you.
So tell me again how your bank account funds are real money. It's completely upside down, and inherently corrupt.
Q: Are You Printing Money? Bernanke: Not Literally
The money on a bank balance sheet is as real as any other money.
The piece of paper, like any other piece of paper, is real. The value assigned to it is "perceived" to be real. Note how this perceived value, while the denomination on the paper does not change, becomes lower as time progresses. The amount of food that the $100 piece of paper will buy me is much less than it was a year ago. The "100" is real only at the time it is accepted by a seller. What it will be worth when he spends it depends on how long he holds it.
When a currency's value reaches zero is it real money? LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
“Dollarization is putting a fat man in a straitjacket instead of prescribing the fat man a better diet,”
“We don’t have to change collars; we have to stop being dogs.”
Some believe the inflation problem is related to deficit spending and peso printing, not what kind of paper is used.
China -- huge economy, influential player, communist dictatorship, extremely unfavorable demographics, does not allow free exchange of it's current currency, brutally suppresses business leaders who don't toe the line, increasingly viewed as a major risk by major foreign companies ...
Russia -- a basket case economy wholly dependent on mineral extraction led by a war criminal ...
India -- amazing place and almost a democracy, but with 2/3rds of citizens still mired in poverty ...
Brazil -- vast resources and fairly open economy, but not exactly a stellar history of managing their own currency ...
South Africa -- a beautiful but sad place; one of the largest economies in Africa, but in constant danger of a brain drain ...
These five countries have almost nothing in common, except perhaps a feeling that they've been under appreciated in the US led post war economy. No one serious thinks they can create and manage a currency.
These five countries have almost nothing in common, except perhaps a feeling that they've been under appreciated in the US led post war economy. No one serious thinks they can create and manage a currency.
What they do have in common is first hand witnessing of the dollar masters imposing sanctions that literally stole money from another country for political reasons. They will do everything in their power to end their dependency on holding dollars that can be taken from them at the whiff of warmongers. Their joint gold back currency will be a reality and it will successfully remove their dependence on dollars. This in turn will punish the dollar and all the Americans that are forced to depend on it. Playing the Starz Spangled Banner won't change this,
I notice you attacked their internal conflicts/views yet you fail to give us a good attack on their management of their own currencies. Problem with your thinking (and you are not alone) is that while the dollar masters make the dollar a political tool (at the expenses of those who are forced to use it), these five "third world" countries properly see their currencies as an economic tool and treat them accordingly.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
What is "gold backed currency"? If it isn't convertible into gold on-demand, isn't it just "currency"?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@derryb said:
I notice you attacked their internal conflicts/views yet you fail to give us a good attack on their management of their own currencies. Problem with your thinking (and you are not alone) is that while the dollar masters make the dollar a political tool (at the expenses of those who are forced to use it), these five "third world" countries properly see their currencies as an economic tool and treat them accordingly.
Only a sympathizer would view his comments as an attack as what he wrote is 100% accurate. Do you actually recognize the politics behind each of those currencies?
I'm not sure if I should offer condolences to these countries in their attempt, or to those that actually think it possible.
Your failure to recognize that Russia and China (second and third largest economies) desperately seek an alternative to dependence on the corrupt dollar for international trade does not surprise me. The alternative is coming and it has nothing to do with national anthems or which country is "good" and which country is "bad." It has everything to do with wanting to escape the political manipulation that a corrupt dollar offers those that do not print them.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I'm not sure if I should offer condolences to these countries in their attempt, or to those that actually think it possible.
Your failure to recognize that Russia and China (second and third largest economies) desperately seek an alternative to dependence on the corrupt dollar for international trade does not surprise me. The alternative is coming and it has nothing to do with national anthems or which country is "good" and which country is "bad." It has everything to do with wanting to escape the political manipulation that a corrupt dollar offers those that do not print them.
Lol. It doesn't matter if they were the largest by 2x. They are corrupt regimes that no companies would or will ever trust. Russia won't exist in 50 years, more likely less that 20, and China's economy will be declining in the next 10 years. The best case for both iis that China takes over all the land east of the Urals
Let those countries try to carve out their own little niche. They might get 5-10% of global trade, BFD.
Funny how you say corrupt dollar, but not corrupt Yuan or Ruble. That just cracks me up!!
I'd like to point out that in places like argentina and cuba, where the currency is unstable, they do not try to get their hands on Yuan or Rubles. They want U.S. Dollars. There is little threat to the dollars position as the world reserve currency.
Also saying that the greenback will collapse due to no gold backing is just economic facfiction.
The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.
I'm not sure if I should offer condolences to these countries in their attempt, or to those that actually think it possible.
Your failure to recognize that Russia and China (second and third largest economies) desperately seek an alternative to dependence on the corrupt dollar for international trade does not surprise me. The alternative is coming and it has nothing to do with national anthems or which country is "good" and which country is "bad." It has everything to do with wanting to escape the political manipulation that a corrupt dollar offers those that do not print them.
Lol. It doesn't matter if they were the largest by 2x. They are corrupt regimes that no companies would or will ever trust.
You really want to debate me on corrupt regimes?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@Higashiyama said: @derryb commented "Your failure to recognize that Russia and China (second and third largest economies) ... "
A correction is in order.
China is the second largest economy.
The third and fourth largest are Germany and Japan.
Russia on the other hand, is eleventh, slightly below Italy.
I stand corrected. While eleventh in GDP, Russia, because of its list of exported resources, is one of the top three economic powerhouses on the world stage.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@Higashiyama said: @derryb commented "Your failure to recognize that Russia and China (second and third largest economies) ... "
A correction is in order.
China is the second largest economy.
The third and fourth largest are Germany and Japan.
Russia on the other hand, is eleventh, slightly below Italy.
I stand corrected. While eleventh in GDP, Russia, because of its list of exported resources, is one of the top three economic powerhouses on the world stage.
If you are thinking that having access to raw material and commodities dictates power, then you are banking on the wrong continent. Russia is nothing close to an economic powerhouse.
The USA produces more oil, natural gas and food products than Russia. The USA leads the world in technical innovation and has the most efficient and productive workforce of any country. Russia only leads in bodybags
BTW---nothing to debate on corrupt regimes as we all know where your adoration and fondness lies.
Even as the dollar has dropped 15% against the basket, the ruble has dropped 40% against the dollar. Hard to fathom that some rail against the former and laud the latter.
Comments
Dude, you really need to get and travel this country.
Knowledge is the enemy of fear
I for one don't need to, they're coming to me.
Having a "quality" home built by a national builder. All of the contracted workers are of foreign nationality and their skill level is horrible. A tile layer was bragging that he is only 16 years old and illegal. He filled a one inch gap between shower wall tile and ceiling with caulk. I asked my builder (their only rep on site is a construction manager who is overseeing 15 houses at a time) how they can afford all of the rework. "Simple," he said, "contractors don't get paid until they make things right." Unfortunately a lot of the "wrongs" are hidden in the walls.
You can't build a "quality" product when you hire the cheapest labor and then fail to provide proper oversight. Where did all the skilled American labor go when the cheap "imported" labor replaced them?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The economic reset will happen just like in every other Country that has experienced it.
Here in the good old USA we had 2 massive resets. The Revolutionary War, and Civil War.
Also on a smaller scale, 1870's when silver was no longer considered legal tender, and gold in the 1930's.
There is nothing that will stop the Big G from switching us to a new form of money in the future. Previous generations that had alot more fight in them did not stop those events, and future generations will not either.
Today's wealth is in 401k and property. Thats what they will hit when they want to transfer wealth back into the hands of the Big G. Arguably that did happen during the Great Recession.
If there is a will, there is a way.
Here's a thought - > @derryb said:
Newbie
Dude, you really need to get and travel this country.
I've put on more miles than you ever will, and I've done it at ground level. Still do.
The economic reset will happen just like in every other Country that has experienced it.
Here in the good old USA we had 2 massive resets. The Revolutionary War, and Civil War.
Also on a smaller scale, 1870's when silver was no longer considered legal tender, and gold in the 1930's.
There is nothing that will stop the Big G from switching us to a new form of money in the future. Previous generations that had alot more fight in them did not stop those events, and future generations will not either.
Today's wealth is in 401k and property. Thats what they will hit when they want to transfer wealth back into the hands of the Big G. Arguably that did happen during the Great Recession.
Astute post, Kentuckyguy.
I knew it would happen.
Wanna bet?
https://genius.com/Johnny-cash-ive-been-everywhere-lyrics
Knowledge is the enemy of fear
This is what we are facing:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”
― Alexander Fraser Tytler
This time around, the result may be Orwellian (as in "1984").
I don't disagree with you dcarr. My comment was in response to jmski who remarked about a certain demographic and I encouraged him to see the "unskilled and uneducated" infest both parties.
Knowledge is the enemy of fear
This place gets stranger by the day. SMH!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Dismissing Tytler's observation as "strange" won't make it go away, or change the outcome.
My comment was in response to jmski who remarked about a certain demographic and I encouraged him to see the "unskilled and uneducated" infest both parties.
I never said it didn't.
I knew it would happen.
Don't think Central Bank Digital Currencies are a likely means to control social behavior? Think Again.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
No stranger than those who participate here.
China’s $23 Trillion Local Debt Mess Is About to Get Worse https://www.bloomberg.com/news/features/2023-05-21/china-s-23-trillion-local-debt-crisis-threatens-xi-s-economy
Knowledge is the enemy of fear
Ed Dowd thinks that there is a worldwide depopulation event in progress and that the dollar will fail to the upside.
Add higher rates & lower demand to that scenario and I see lots of commercial & personal loans being defaulted on. I don't see that benefiting anyone besides the banking cartel since they'll get bailed out with taxpayer money by their bought politicians if they get into trouble.
Mere mortals don't have that luxury. The same rules that apply to normal people should especially apply to the big banks. Let the big banks fail or split them up, ala' the AT&T breakup of the 1980's. Make them compete instead of collude. No more TBTF bailouts.
Like that even has a whiff of a chance.
I knew it would happen.
Existing loans (the only kind capable of seeing a default) had their rate set at the time of the loan origination. Higher rates after the fact have no affect on existing loans unless the loan was set with an adjustable rate. Anyone buying an adjustable rate in today's loan environment is should not be signing loan papers.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
A.depopulation event?? Haha.
What the heck does that even mean?
Knowledge is the enemy of fear
it means all the war mongers got what they seek.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Perhaps too much radon in the bunkers? The conspiracy nuts are gonna wipe themselves out?
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Actually it's fantasyland surrounding the covid vaccine. I just wanted jmski to defend it so I could get a good laugh!! 🤣🤣🤣
Knowledge is the enemy of fear
i'm surprised that coho doesn't even know who Ed Dowd is.
I knew it would happen.
Oh, I do. And all the "sources" you cite.
Funny, for someone who claims to have his own opinions, you sure do tout others' opinions. Lol
Knowledge is the enemy of fear
Doug Casey on money in the bank:
However, Government is not your friend, and CBDCs are not a solution.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Regarding "The money isn’t really money. It’s credit created out of thin air"
The money on a bank balance sheet is as real as any other money.
welcome to the Matrix. As a famous man once said, "the only real money is gold."
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The money on a bank balance sheet is as real as any other money.
It may be real for the banks, but consider that the Fed wants to be able to monitor your bank accounts, and have control over the funds in your accounts. By law, the deposits you make into your account are a loan to the bank and are not owned by you.
So tell me again how your bank account funds are real money. It's completely upside down, and inherently corrupt.
I knew it would happen.
The money on a bank balance sheet is as real as any other money.
The piece of paper, like any other piece of paper, is real. The value assigned to it is "perceived" to be real. Note how this perceived value, while the denomination on the paper does not change, becomes lower as time progresses. The amount of food that the $100 piece of paper will buy me is much less than it was a year ago. The "100" is real only at the time it is accepted by a seller. What it will be worth when he spends it depends on how long he holds it.
When a currency's value reaches zero is it real money? LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Gold is money. All else is credit. - JPM
I knew it would happen.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Will Argentina Ditch the Peso for the Dollar? https://www.bloomberg.com/news/articles/2023-06-08/high-argentina-inflation-sparks-debate-to-ditch-peso-for-dollar
Knowledge is the enemy of fear
I'm wondering how closely this correlates to the rising price of gold?
I guess closely.
“Dollarization is putting a fat man in a straitjacket instead of prescribing the fat man a better diet,”
“We don’t have to change collars; we have to stop being dogs.”
Some believe the inflation problem is related to deficit spending and peso printing, not what kind of paper is used.
My US Mint Commemorative Medal Set
Coming gold backed currency from BRICS will be a game changer for the dollar and for gold.
The bell tolls for fiat
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
A BRICS currency
Let's see, we have the following:
China -- huge economy, influential player, communist dictatorship, extremely unfavorable demographics, does not allow free exchange of it's current currency, brutally suppresses business leaders who don't toe the line, increasingly viewed as a major risk by major foreign companies ...
Russia -- a basket case economy wholly dependent on mineral extraction led by a war criminal ...
India -- amazing place and almost a democracy, but with 2/3rds of citizens still mired in poverty ...
Brazil -- vast resources and fairly open economy, but not exactly a stellar history of managing their own currency ...
South Africa -- a beautiful but sad place; one of the largest economies in Africa, but in constant danger of a brain drain ...
These five countries have almost nothing in common, except perhaps a feeling that they've been under appreciated in the US led post war economy. No one serious thinks they can create and manage a currency.
What they do have in common is first hand witnessing of the dollar masters imposing sanctions that literally stole money from another country for political reasons. They will do everything in their power to end their dependency on holding dollars that can be taken from them at the whiff of warmongers. Their joint gold back currency will be a reality and it will successfully remove their dependence on dollars. This in turn will punish the dollar and all the Americans that are forced to depend on it. Playing the Starz Spangled Banner won't change this,
I notice you attacked their internal conflicts/views yet you fail to give us a good attack on their management of their own currencies. Problem with your thinking (and you are not alone) is that while the dollar masters make the dollar a political tool (at the expenses of those who are forced to use it), these five "third world" countries properly see their currencies as an economic tool and treat them accordingly.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
What is "gold backed currency"? If it isn't convertible into gold on-demand, isn't it just "currency"?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I'm not sure if I should offer condolences to these countries in their attempt, or to those that actually think it possible.
Knowledge is the enemy of fear
Only a sympathizer would view his comments as an attack as what he wrote is 100% accurate. Do you actually recognize the politics behind each of those currencies?
Knowledge is the enemy of fear
Your failure to recognize that Russia and China (second and third largest economies) desperately seek an alternative to dependence on the corrupt dollar for international trade does not surprise me. The alternative is coming and it has nothing to do with national anthems or which country is "good" and which country is "bad." It has everything to do with wanting to escape the political manipulation that a corrupt dollar offers those that do not print them.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
My US Mint Commemorative Medal Set
Lol. It doesn't matter if they were the largest by 2x. They are corrupt regimes that no companies would or will ever trust. Russia won't exist in 50 years, more likely less that 20, and China's economy will be declining in the next 10 years. The best case for both iis that China takes over all the land east of the Urals
Let those countries try to carve out their own little niche. They might get 5-10% of global trade, BFD.
Funny how you say corrupt dollar, but not corrupt Yuan or Ruble. That just cracks me up!!
Knowledge is the enemy of fear
I'd like to point out that in places like argentina and cuba, where the currency is unstable, they do not try to get their hands on Yuan or Rubles. They want U.S. Dollars. There is little threat to the dollars position as the world reserve currency.
Also saying that the greenback will collapse due to no gold backing is just economic facfiction.
The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.
@derryb commented "Your failure to recognize that Russia and China (second and third largest economies) ... "
A correction is in order.
China is the second largest economy.
The third and fourth largest are Germany and Japan.
Russia on the other hand, is eleventh, slightly below Italy.
You really want to debate me on corrupt regimes?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I stand corrected. While eleventh in GDP, Russia, because of its list of exported resources, is one of the top three economic powerhouses on the world stage.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
If you are thinking that having access to raw material and commodities dictates power, then you are banking on the wrong continent. Russia is nothing close to an economic powerhouse.
The USA produces more oil, natural gas and food products than Russia. The USA leads the world in technical innovation and has the most efficient and productive workforce of any country. Russia only leads in bodybags
BTW---nothing to debate on corrupt regimes as we all know where your adoration and fondness lies.
Knowledge is the enemy of fear
With the truth. You should try it sometime.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
While not too shabby, the USA is 12th in productivity per worker per hour.
Considering the fat lazy weak and incompetent workforce that's says a lot about our potential.
Knowledge is the enemy of fear
Even as the dollar has dropped 15% against the basket, the ruble has dropped 40% against the dollar. Hard to fathom that some rail against the former and laud the latter.
Knowledge is the enemy of fear