It seems that your core argument is circular logic, which boils down to: “The US can print as many dollars as it likes forever because it can”. I’m sure that since you’re a self-styled economic genius, this logic will prove absolutely correct and that you’ve published numerous monographs to back up your immaculate theory.
You snidely ask me why I don’t give you all my dollars. It seems that in your insular world everyone has or buys or needs dollars. I don’t have or need dollars. I’m an individual living in another country. I’m not an enterprise engaging in cross-border trade. Maybe, just maybe, this provides a tiny kernel of insight on how the dollar might not be omnipotent forever more.
>>"It seems that your core argument is circular logic,"
YES! EXACTLY! Except - its not just "logic", its reality, its the way the US Debt system works - i.e. it is a self-perpetuating system (and is sustained by that system). This is how FEEDBACK SYSTEMS work. They work (and are sustained) through circular self-reinforcing loops. (https://deming.org/systems-thinking-feedback-loops/)
Here's some REALITY from history:
US Debt in 1993 was $4.2T
US Debt in 2024 = approx. $37T
Compare this to the strength of the US Dollar. It fell during the financial crisis (2008-2011), but has regained its strength and not impacted by the outstanding US Debt.
Again, my recommendation (to understand how US Debt works) is to read Michael Hudson's books on a subject (and learning how MMT works).
>>"how the dollar might not be omnipotent forever more."
YES! The USD will NOT be omnipotent forever. No currency has been. I'm NOT suggesting "forever". What I'm saying is there are systems in place that keep the USD where it is. It will take VERY SPECIAL CIRCUMSTANCES (what they are yet no one really knows, though many people guess) to dethrone the US Dollar.
I (like most here) assume that the "dethroning of the US Dollar" will be GOOD for the world, but I don't know (events often have an unpredictable way of unfolding). All I know is that the US EMPIRE MUST END (somehow) - as that is the BIGGEST PROBLEM facing the planet AND humanity currently.
It seems that your core argument is circular logic, which boils down to: “The US can print as many dollars as it likes forever because it can”. I’m sure that since you’re a self-styled economic genius, this logic will prove absolutely correct and that you’ve published numerous monographs to back up your immaculate theory.
You snidely ask me why I don’t give you all my dollars. It seems that in your insular world everyone has or buys or needs dollars. I don’t have or need dollars. I’m an individual living in another country. I’m not an enterprise engaging in cross-border trade. Maybe, just maybe, this provides a tiny kernel of insight on how the dollar might not be omnipotent forever more.
>>"The US can print as many dollars as it likes forever because it can”
Again, your only antidote to understanding is learning how the US financial system really works. That's where MMT comes in (Modern Monetary Theory).
Here are some resources:
(1) The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy [https://www.goodreads.com/book/show/45731395-the-deficit-myth]
(2) https://www.vox.com/future-perfect/2019/4/16/18251646/modern-monetary-theory-new-moment-explained
(3) https://www.investopedia.com/modern-monetary-theory-mmt-4588060
(4) How Modern Monetary Theory (MMT) Actually Works (w/ Warren Mosler) [https://www.youtube.com/watch?v=W97s3zbFKvc]
(5) MMT Is Misunderstood | Warren Mosler [https://www.youtube.com/watch?v=LCUPBpSiISU} -> Check out the "Tax and Money" chapter
(6) MMT vs. Austrian School Debate [https://www.youtube.com/watch?v=cUTLCDBONok]
(7) Modern Monetary Theory and the Changing Role of Tax in Society [https://www.cambridge.org/core/journals/social-policy-and-society/article/modern-monetary-theory-and-the-changing-role-of-tax-in-society/B7A8B0C7C80C8F7E38D20BE4F5099C83]
-----------
This "printing unlimited money because it can" is NOT my theory -> it is proven (and explained) by MMT.
>>"It seems that your core argument is circular logic,"
YES! EXACTLY! Except - its not just "logic", its reality, its the way the US Debt system works - i.e. it is a self-perpetuating system (and is sustained by that system). This is how FEEDBACK SYSTEMS work. They work (and are sustained) through circular self-reinforcing loops. (https://deming.org/systems-thinking-feedback-loops/)
Here's some REALITY from history:
US Debt in 1993 was $4.2T
US Debt in 2024 = approx. $37T
Compare this to the strength of the US Dollar. It fell during the financial crisis (2008-2011), but has regained its strength and not impacted by the outstanding US Debt.
Again, my recommendation (to understand how US Debt works) is to read Michael Hudson's books on a subject (and learning how MMT works).
>>"how the dollar might not be omnipotent forever more."
YES! The USD will NOT be omnipotent forever. No currency has been. I'm NOT suggesting "forever". What I'm saying is there are systems in place that keep the USD where it is. It will take VERY SPECIAL CIRCUMSTANCES (what they are yet no one really knows, though many people guess) to dethrone the US Dollar.
I (like most here) assume that the "dethroning of the US Dollar" will be GOOD for the world, but I don't know (events often have an unpredictable way of unfolding). All I know is that the US EMPIRE MUST END (somehow) - as that is the BIGGEST PROBLEM facing the planet AND humanity currently.