/biz/ - Business & Finance

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If ANYBODY is wondering how we got into this mess it's thanks to people like this.
Nobody needs dollars. Countries and people around the world do not need pieces of paper or digital USD for any reason.
What we need is stuff. Surplus of labor and equipment, commodities and material. We do not need US Dollars.
This delusion about indebting the world and thus we ourselves can become indebted explains how from the very highest levels of the American Empire there is a complete misunderstanding of where prosperity and wealth comes from.
If these countries and people begin to stop borrowing in USD, the dollar denominated debt worldwide, the source of power of the USA, will decrease. It does not matter if Australia takes out a 50 Trillion dollar line with the USA and says we will hand you everything this country produces for the next 100 years. The US Dollar is going to be created to fund American debts, and then some, and the world is anticipating that the speed of Dollar creation will increase. Eurodollars will not be difficult to acquire, and the first to leave this system will benefit from not being the last to hand over ACTUALLY valuable items and commodities/goods.
This is the delusion that has destroyed us. This belief that the world needs the USA more than the USA needs the world is coming to an end. It is precisely thanks to this philosophy, and the abuse and excesses that came with the privilege, that the USA will need to actually produce and consume on a proportionate level.
It's one thing to convince a few million people in every country to help exploit the nation on behalf of the United States' protection and blessing (and the USA made these people rich, think MBS- Saudi Arabia), but that doesn't last.

>>53543170
The party will continue until we all wake up one day and the treasury market has massive holes in it from foreign sellers, and we start to monetize faster and faster

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>>53054195
Even after 5 years, you lose almost 10% of your savings at 2% inflation. At 10%, you lose 40%. This is nothing to scoff at.