The Triffin Dilemma never made sense to me. Why is it a problem that the US runs trade deficits very year? Only because these lead to long-term debt and mounting interest payments. But that's because of the Federal Reserve system, in which money is borrowed into existence instead of being printed directly. Ellen Brown wrote in detail about this years ago in Web of Debt, and before that there was Creature from Jeckyl Island by G Edward Griffin.
All good context, those. If you read my brief history of how things played out with what held the value of the $US it may help, but the problem is that the currency is valuable AS the reserve currency, so the price of exports made in that economy is higher in other countries than it would be without that, and they really have to have a production edge to be valuable enough. The US could do it with mass produced grains, specialty products like jet planes and computers under patent, movies, and so on.
We'll see where this goes. Manufacturing and workers need to do better and financiers need to take a big "haircut" as they say.
The privilege of being able to print money into existence to feed the world's need for more reserve currency each year is a tremendous boon. The US has used this boon overtly to enrich its banksters and covertly to create a network of underground high-tech bunker-cities, housing a breakaway civilization.
What if this money had been used instead to end poverty in the US, to create an education system that supports personal creativity rather than a stifling conformity, to promote efficiency and innovation in manufacturing? We would be living in a very different country today. We would still be stealing unconscionably from the rest of the world, but we would have been using the proceeds for the benefit of ordinary Americans and their grandchildren instead of to deepen the divide between billionaires and the rest of us.
"What you mean 'We', white man?", as Tonto said in the old joke.
Global finance manipulates rulers to enmesh the people of nations in perpetual debt slavery.
We are, I assess, at the cusp of 250 years of growth transitioning into net decline of global economy, due to increasing resource/fuel constraints.
I will endeavor to be part of a transition of ecosystem management to Stewardship, away from Apex Predator control, by the killing of grazing animals, which most people have become since the spread of agriculture.
Until we can take that stewardship role and perform it adequately, our sociopathic owners and rulers will continue to do things their way, right?
It looks complicated at scale. I seek Divine Guidance.
The Triffin Dilemma never made sense to me. Why is it a problem that the US runs trade deficits very year? Only because these lead to long-term debt and mounting interest payments. But that's because of the Federal Reserve system, in which money is borrowed into existence instead of being printed directly. Ellen Brown wrote in detail about this years ago in Web of Debt, and before that there was Creature from Jeckyl Island by G Edward Griffin.
All good context, those. If you read my brief history of how things played out with what held the value of the $US it may help, but the problem is that the currency is valuable AS the reserve currency, so the price of exports made in that economy is higher in other countries than it would be without that, and they really have to have a production edge to be valuable enough. The US could do it with mass produced grains, specialty products like jet planes and computers under patent, movies, and so on.
We'll see where this goes. Manufacturing and workers need to do better and financiers need to take a big "haircut" as they say.
The privilege of being able to print money into existence to feed the world's need for more reserve currency each year is a tremendous boon. The US has used this boon overtly to enrich its banksters and covertly to create a network of underground high-tech bunker-cities, housing a breakaway civilization.
What if this money had been used instead to end poverty in the US, to create an education system that supports personal creativity rather than a stifling conformity, to promote efficiency and innovation in manufacturing? We would be living in a very different country today. We would still be stealing unconscionably from the rest of the world, but we would have been using the proceeds for the benefit of ordinary Americans and their grandchildren instead of to deepen the divide between billionaires and the rest of us.
"What you mean 'We', white man?", as Tonto said in the old joke.
Global finance manipulates rulers to enmesh the people of nations in perpetual debt slavery.
We are, I assess, at the cusp of 250 years of growth transitioning into net decline of global economy, due to increasing resource/fuel constraints.
I will endeavor to be part of a transition of ecosystem management to Stewardship, away from Apex Predator control, by the killing of grazing animals, which most people have become since the spread of agriculture.
Until we can take that stewardship role and perform it adequately, our sociopathic owners and rulers will continue to do things their way, right?
It looks complicated at scale. I seek Divine Guidance.
"Recognizing Moscow’s new territories would be “horrible,” a senior Polish official has said"
Unless they recognize Polands claim to what it believes belongs to them, his tune will quickly change.
I think Poland might want Galicia, but it is a poisoned chalice.
;-(
Heroic dragnet Dr. Day, thank you!!
You are welcome, sister Eleni.
;-)
I like the t-shirt. Good post.... Thanks.
I designed it and had a bunch made for Christmas presents in 2019.