American Debt of 20 Trillion dollar , had money been just gifted to people

[tower9]

It’s not at all, and there is no other alternative.

China, Russia are coming up with their own digital currencies and the EU has indicated they will move away from swift as well. It won’t happen overnight but once the trend begins there won’t be going back.

 

[Qmjd]

China, Russia are coming up with their own digital currencies and the EU has indicated they will move away from swift as well. It won’t happen overnight but once the trend begins there won’t be going back.

Every empire thinks there is no end to its legacy but reality struck them sooner than they can think.

 

[tower9]

Every empire thinks there is no end to its legacy but reality struck them sooner than they can think.

It’s called Present Bias

 

[ARMalik]

View attachment 703765


US net worth is now $123.5 trillion. The US is wealthier than its ever been in its history.

Dude, where do you find such rubbish charts anyways? Do you know what is classified as "ASSETS" in the US? it is rubbish stocks, mortgages, junk bonds, junk derivatives and so on !!, I am surprised they have not yet classified toilet poop as another Asset Class !

 

[Norwegian]

This part is a bit strange to me why the prices remain same

Because all the inflation is going into financial assets

 

[nahtanbob]

The USD is heading downwards. It won't happen overnight. But countries will slowly move away from the USD as reserve currency. The downfall will come as a light drizzle, then suddenly it will become a monsoon and most Americans will have their living standards destroyed because of hyper-inflation, especially since the majority of Americans have little savings anyways. I am trying hold as little $$$ as possible and moving it towards any assets I can get.

I have ABSOLUTELY ZERO faith in our ruling class having the competence or foresight to control their plundering in order to prevent the collapse of the American empire. I had little faith before Covid and now I have ZERO FAITH. America's future is BLEAK. It will not come right away but it will come as a deluge, and likely within the next 10-15 years.

US can balance its budget and trade deficit. The standard of living in USA will take a hit. The rest of the world will come crashing. China will be forced to do what America did to keep the world economy growing.

Well guess what , it's not the laidback 1970s anymore , the same decade where president Trump had his utmost fun.
America also funded their F-14 and F-15 program , partly using iran's oil money .
one of many reasons behing the 1979 islamic revolution in iran was oil. period.

------------------------------
In the 1950s and 1970s the US dominated the world , they could print and pump as much cash into pretty much any institution , like NASA , NSA or CIA or whatever. your figures don't mean anything . they only surprise losers.

Until 1971 US Dollar was tied to the gold standard

 

[tower9]

US can balance its budget and trade deficit. The standard of living in USA will take a hit. The rest of the world will come crashing. China will be forced to do what America did to keep the world economy growing.


Until 1971 US Dollar was tied to the gold standard

I can guarantee you that the US would be completely unable to balance its budget if the USD loses reserve currency status, definitely not with the corrupt low iq dregs that populate the US government, congress and the White House. The US actually has not balanced a budget in fucking decades, we just get away with being fiscally irresponsible and reckless because we can make the money printing machines to BRRRRRRRR

 

[Hamartia Antidote]

China, Russia are coming up with their own digital currencies and the EU has indicated they will move away from swift as well. It won’t happen overnight but once the trend begins there won’t be going back.

SWIFT is European. The only reason they would want to move away is because of their reliance on Iranian oil and the US blocking transactions. However Iran isn't worth it for them as they agree lots of nefarious money transactions originate from Iran and adding them into an alternative system just for oil isn't going to happen.

 

[unrequitted_love_suzy]

SWIFT is European. The only reason they would want to move away is because of their reliance on Iranian oil and the US blocking transactions. However Iran isn't worth it for them.

But SWIFT isn't entirely european, persian students in canada use SWIFT , to wire money from iran to canada and vice versa.

 

[tower9]

SWIFT is European. The only reason they would want to move away is because of their reliance on Iranian oil and the US blocking transactions. However Iran isn't worth it for them.

Iran is one issue. Another is the increasing frequency of American unilateral sanctions and abuse of the system which makes further granting of this privilege questionable.

 

[Hamartia Antidote]

Iran is one issue. Another is the increasing frequency of American unilateral sanctions and abuse of the system which makes further granting of this privilege questionable.

True, but while they gripe and moan about inconvenience and lost business they know SWIFT is fraught with questionable holes of money movement of their own that they probably don't want exposed. Their nightmare is for the US or China to implement an alternative. They want to keep the status quo.

China will propose a new system, the US and Europe balk.
US will propose a new system, China and Europe balk.
EU will propose a new system, China and the US wont necessarily balk.

 

[tower9]

True, but while they gripe and moan about inconvenience and lost business they know SWIFT is fraught with questionable holes of money movement of their own that they probably don't want exposed. Their nightmare is for the US or China to implement an alternative. They want to keep the status quo.

China will propose a new system, the US and Europe balk.
US will propose a new system, China and Europe balk.
EU will propose a new system, China and the US wont necessarily balk.

China just issued a new digital currency. It will shift a significant portion of its trade to that currency. Russia is doing the same. The EU will also do the same.

This doesn't mean that the USD as reserve disappears overnight. But the use may go down to maybe 25-30% within a decade. That means significantly less power to print money. If the trend continues, it will have a huge impact.

 

[Hamartia Antidote]

China just issued a new digital currency. It will shift a significant portion of its trade to that currency. Russia is doing the same. The EU will also do the same.

This doesn't mean that the USD as reserve disappears overnight. But the use may go down to maybe 25-30% within a decade. That means significantly less power to print money. If the trend continues, it will have a huge impact.

The digital yuan is tracked. The only way this will work in privacy concerned countries is to have a middle man (like a bank) "wash" all transactions by randomly pushing and pulling yuan out of a huge random stack for every transaction. This way there is no direct way of tracking who gave what to whom.

In fact they'll probably go as far to say banks should randomly exchange digital yuans every minute to further scramble things.

 

[tower9]

The digital yuan is tracked. The only way this will work in privacy concerned countries is to have a middle man (like a bank) "wash" all transactions by randomly pushing and pulling yuan out of a huge random stack for every transaction. This way there is no direct way of tracking who gave what to whom.

In fact they'll probably go as far to say banks should randomly exchange digital yuans every minute to further scramble things.

The digital yuan is designed so that China could circumvent the USD. With all of the sanctions and hostility from Trump in the past four years, you know damn well they will be moving full steam ahead.

 

[fallstuff]