patrick.net

I started reading this thread and found a post that I made way back in 2010. In my not so humble opinion, I believe it was spot on regarding the future, which we are now living in:

"The financiers I'm referring to are those that expect the U.S. dollar to maintain its value due to fiscal responsibility by the federal government. We are spending at an incredible pace and the big money players of the world know it. We have only four basic options available to pay down our debt: 1) dramatically cut government spending and balance the budget, 2) dramatically raise taxes, 3) continue to borrow enormous sums from foreign sources (currently $3 + Billion per day), 4) monetize our debt via the printing press. I would argue that #1 & #2 will not happen due to the political suicide it would require by our self serving politicians. #3 is more palpable politically because most voters cannot comprehend that their government is basically broke and forced to borrow in order to function. #4 is the most likely scenario because it is the most acceptable to voters that do not have the capacity to understand inflationary economics, i.e. debasing of the currency. When Nixon closed the gold window in 1971, the government literally held its breath, not knowing how the world would react. We have abused our currency since that time and, although we are currently experiencing deflation in some sectors and inflation in others (along with high unemployment, i.e. stagflation), the day is absolutely coming when the excessive amounts of fiat money will finally push inflation into at least the double digits. When the big money players begin to unload their U.S. dollars, we will be forced to raise interest rates in order to attract investments in the dollar. With the economy already weakened while enjoying historically low interest rates, what do you think will happen when interest rates are forced higher?"

Back to the original thread "What is a Dollar?"

A Dollar, as of 5/14/2010 was 1/1237 of one Troy ounce of Gold.

NOTE: as of today, 11/29/2023, the dollar is 1/2044 of one Troy ounce of Gold.

RayAmerica says

Back to the original thread "What is a Dollar?"

A Dollar, as of 5/14/2010 was 1/1237 of one Troy ounce of Gold.

NOTE: as of today, 11/29/2023, the dollar is 1/2044 of one Troy ounce of Gold.

So it’s going pretty well then :) for the globalists.

Patrick says

The United Arab Emirates (UAE) has shifted from using the US dollar to local currencies in its oil trades.

And just like that Nicki Haley started looking for a reason to invade UAE.

There is some good news about a weak dollar: It will help us manufacture for export again.

AmericanKulak says

There is some good news about a weak dollar: It will help us manufacture for export again.

no it won’t, unless you want to live on $10 a day

AmericanKulak says

There is some good news about a weak dollar: It will help us manufacture for export again.

And a million new workers crossing the southern border to run the factory!

Honest Abe says

Show me where a sound dollar and capitalism causes anywhere near the pain, suffering, tragedy, misery and number of deaths that a fiat currency and a powerful socialistic central government has caused.

I believe the "need" for social justice comes when the income/wealth inequality gap becomes too large.

Inflation hurts the poorest people most, and favors the wealthy. It is a stealth tax on the working class. It promotes inequality and is an injustice to retirees with savings in cash.

Patrick says

from pendō (“to weigh”).

Intereasting. "pendo" like "pendulum" the swinging clock weight, and "pendular" like the weighed down sagging breasts.

I love etymologies.

I look them up all the time on https://en.wiktionary.org/ which is blessedly non-woke so far.

This belongs here

Patrick says

As those who understand history, we know that the fiat dollar was created to replace the literal dollar as pictured above.

But what will happen when central banksters replace the fiat dollar?

Here is one possibility: https://www.zerohedge.com/geopolitical/unification-cbdcs-global-banks-are-telling-us-end-dollar-system-near

PeopleUnited says

This belongs here

Patrick says

Excellent Graphic.

https://x.com/unusual_whales/status/1850904352136819132

@unusual_whales
A few days ago, Janet Yellen was answering: "How concerned are you about the long term status of the dollar?"

The US Treasury Department sign fell off.

AmericanKulak says

PeopleUnited says

This belongs here

Patrick says

Excellent Graphic.

Yes. Now we just need to add a stable coin like Tether for the next step.

Ppl haven't caught on to that yet.