The US dollar’s imminent death is greatly exaggerated

[Free Vulcan]

And the Brics are all or mostly worse than the US government spending/debt-wise.

Edit: the Brics are pretty similiar to the US's position debt to gdp wise.

It's a relative thing. The dollar is strong now because though we are bad off, most are worse. That's going to hold till we're worse than them because the economics of it is all about psychology.

A currency backed by tangibles is a different bird. Unless they cheat, the currency value is a great more independent of nations and central banks than fiat.

Maybe they can't pull it off, but if we force their hand they may have no choice. Given the nature of their economies and more that may join, it could suck a significant demand out of the dollar, leading to hyperinflation and crushing interest rates that would lead to a collapse of our financial markets and banking system, plus default on our debt and essentially grinding the economy to a halt.

[Weird Tolkienish Figure]

It's a relative thing. The dollar is strong now because though we are bad off, most are worse. That's going to hold till we're worse than them because the economics of it is all about psychology.

A currency backed by tangibles is a different bird. Unless they cheat, the currency value is a great more independent of nations and central banks than fiat.

Maybe they can't pull it off, but if we force their hand they may have no choice. Given the nature of their economies and more that may join, it could suck a significant demand out of the dollar, leading to hyperinflation and crushing interest rates that would lead to a collapse of our financial markets and banking system, plus default on our debt and essentially grinding the economy to a halt.

I'd be 100% for a bullion currency, I just don't think it will happen. Like repealing the 17th amendment.

[catfish1957]

And the Brics are all or mostly worse than the US government spending/debt-wise.

Edit: the Brics are pretty similiar to the US's position debt to gdp wise.

Yeah, but most are industrial or "value asset based like South Africa" or accelerating toward industrial based economies. 

Remember us in 1945?  Same way.  An industrial engine has a much dynamic means of digging out vs.  service economies like ours and the EU.  From an economic standpoint, their future is brighter than ours.   Sad to say.

[catfish1957]

I'd be 100% for a bullion currency, I just don't think it will happen. Like repealing the 17th amendment.

17th?  Around senate enumeration?  Did you mean 18th around the booze?

In any case, around your point......I am with you a 100%.  The United States by itself will provide the world an example for the next 5 Millennia of exactly why the use of Fiat currency was a BAD idea. 

As far it happening?  We might not have a choice, especially if the world decouples from the $USD, and has trouble latching on to something  else.    At the crash, the benchmark will be country's soverign currency per unit of maybe an ounce of gold.

[Weird Tolkienish Figure]

Yeah, but most are industrial or "value asset based like South Africa" or accelerating toward industrial based economies. 

Remember us in 1945?  Same way.  An industrial engine has a much dynamic means of digging out vs.  service economies like ours and the EU.  From an economic standpoint, their future is brighter than ours.   Sad to say.

Meh, I remember reading that the US is poised to have a younger workforce than even a lot of industrializing economies, which are aging fast. Only subsaharan africa (and India) is supposed to have a younger workforce than the US in 50 years. China is rapidly aging for example. India is a country where a lot of people still defecate in the open. Brighter future? I don't think so.

They've been spouting this doom and gloom about the US since the 80's, basically my whole life. It's never happened. Probably because the dumb decisions our government makes, other government make too.

Anyway if you're so sure the US will crater, short the dollar. Shorting currency is easier to do than securities.

I'll mention again that this doesn't mean this nonsense won't erode our living standards and exacerbate already present problems like inequality in the long term.

[Weird Tolkienish Figure]

17th?  Around senate enumeration?  Did you mean 18th around the booze?

Repealing the 17th.

A lot of conservatives would like to see this happen, and I would as well, but I don't see it happening. Not in a million years.

Like going back to gold. I'm not saying don't give up but... I wouldn't hold your breath.

[kevindavis007]

When I read articles about “de dollarization” I wondered what currency would replace the dollar

China seems to be doing well economically. But that’s more a case of the West screwing itself over vs any great economic policy China has

Things are not well in China, in fact, way worse than us.


Zero-Covid in China did a number on their economy.

[catfish1957]

Repealing the 17th.

A lot of conservatives would like to see this happen, and I would as well, but I don't see it happening. Not in a million years.

Like going back to gold. I'm not saying don't give up but... I wouldn't hold your breath.

What does senate enumeration have to do with $USD devaluation? 

[Weird Tolkienish Figure]

What does senate enumeration have to do with $USD devaluation?

Just saying it's a pie in the sky proposal that will probably not happen in our lifetimes.