Quote:
Originally Posted by Jibartik
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I just dont unerstand the gas price petro dollar thing, if we're not using gas then doesnt the us dollar collapse?
also ty gustoo seems to check out w. me
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No because there still isn’t another game in town. The Chinese adjust their rates based on BS, the Japanese have deflation mostly. Our main competitors are the Euro, Swiss Franc, and pound sterling. All of those are similarly based on the strength of their respective financial systems
Our currency strength is based as much on the location of the global financial centers as anything else. That could change of course
As for 0% interest rates, if you guys want that to end, vote for people who care about the national debt. Federal govt’s interest payments in 2020 were $350 billion. This year they will top $1 trillion, simply because of the increased interest rate (that has way more of an affect than the $4 trillion ish added debt). We have to do BS at a central bank level (and so do the Europeans) because we keep telling ourselves national debt doesn’t matter. It absolutely does