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"I am a professional fantasy novelist, and I can’t come up with shit that’s as implausible as what the average dorky leftist accepts as gospel."
So if TMI was "our Chernobyl" and Vietnam was "our Afgh" how come we're still standing 50 years later, while the USSR did last a mere half-decade after theirs?
Saudi-shmaudi: with the US being the top oil producer in the world and Soviets cheating OPEC like mad they are getting more and more irrelevant every day.
And while screaming "THE SKY IS FALLING" is fun, "the sky has been falling for 50 years and is gonna totally-totally fall in the next 50" doesn't have the same ring to it.
What is our Afghanistan and Chernobyl? Have they happened yet?
Triffin's Dilemma
Reserve Currency Paradox
Becoming a reserve currency presents countries with a paradox. They want the "interest-free" loan generated by selling currency to foreign governments, and they need to be able to raise capital quickly because of high demand for reserve currency-denominated bonds. At the same time, they want to be able to use capital and monetary policy to ensure that domestic industries are competitive in the world market and to make sure that the domestic economy is healthy and not running large trade deficits. Unfortunately, both of these ideas—cheap sources of capital and positive trade balances—usually can't happen at the same time.
This is the Triffin dilemma, named after Robert Triffin, an economist who wrote of the impending doom of the Bretton Woods system in his 1960 book, Gold and the Dollar Crisis: The Future of Convertibility. He pointed out that the years of pumping dollars into the world economy through post-war programs, such as the Marshall Plan, was making it increasingly difficult to stick to the gold standard. The country had to achieve this by instilling international confidence through a current account surplus while also having a current account deficit by providing immediate access to gold.
Issuing a reserve currency means that monetary policy is no longer a domestic-only issue—it's international. Governments have to balance the desire to keep unemployment low and economic growth steady with its responsibility to make monetary decisions that will benefit other countries. The reserve currency status is, thus, a threat to national sovereignty.
https://www.investopedia.com/financial-edge/1011/how-the-triffin-dilemma-affects-currencies.aspx
Now the currency will fail, like a great slow motion catastrophic train wreck.
Afghanistan is our Afghanistan. Maui and Palestine Ohio were fairly small, but highly embarrassing.
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