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Can Trump Save the Dollar?mises.org/mises-wire/can-trump-save-dollar?utm_source=MI+Subscriptions&utm_campaign=4af3f09181-EMAIL_CAMPAIGN_2024_02_29_06_22_COPY_01&utm_medium=email&utm_term=0_-0aec14e5f3-230095776
370 sats \ 36 comments \ @Undisciplined 11 Dec econ
By J.R. MacLeod
The US dollar’s abuse by the Federal Reserve and federal government has weakened it precipitously. Is Trump willing to do what needs to be done to change the situation?
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393 sats \ 2 replies \ @Rothbardian_fanatic 12 Dec
It may seem noble to attempt to reinforce the reserve status of the dollar, but defending the Fed, the fiat dollar, and global reserve currency status are the economic equivalent of defending death by strangulation just because it’s slow. This currency system supports the bloated welfare-warfare functions of the government. It has hollowed out American industry by financialization and the fact that dollars can be created out of thin air to pay for goods and services domestically and abroad. This tremendously undercuts genuine production and wealth generation.
The question should really be, “Is the fiat Dollar in Federal Reserve Notes worth saving?” I, for one, would be willing to forego the constant pillaging of the economy by the banksters and the conveniences of the reserve currency to have a stable currency like BTC or metals. I just don’t like being stolen from on a second-by-second basis, they can keep their FRN and inflation and conveniences and stuff them where the sun does not shine.
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30 sats \ 1 reply \ @Undisciplined OP 12 Dec
I’m all for moving forward without the dollar.
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0 sats \ 0 replies \ @Rothbardian_fanatic 12 Dec
Yes, the whole problem is the pain that we would have to go through. I think that the pain now would probably less than the pain we will suffer later. This is what we get for kicking the can down the road instead of dealing with problems up front. Another analogy is treating symptoms when we should have gone for cures.
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315 sats \ 3 replies \ @denlillaapan 12 Dec
not super obvious "the dollar" is in need of saving. The least dirtiest shirt in the laundry basket, etc.
Now, the Treasury market might need some boosting, but looks like the Tethers of the world are on the job!
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0 sats \ 2 replies \ @Undisciplined OP 12 Dec
Is that a long-term view, as well as a short-term one?
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0 sats \ 1 reply \ @denlillaapan 12 Dec
which one, on the Treasury market or the dollar...?
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0 sats \ 0 replies \ @Undisciplined OP 12 Dec
The dollar
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124 sats \ 4 replies \ @Satosora 11 Dec
"He doesn’t possess the establishment credentials of a Ben Bernanke." What does this mean? Was Ben Bernanke some kind of royalty?
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40 sats \ 2 replies \ @Undisciplined OP 11 Dec
To the regime he basically is.
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0 sats \ 0 replies \ @denlillaapan 12 Dec
he got the Nobel PRIZE, credentialist-less dude.
Also saved America from Great Depression 2.0. His book title reflects it, of course: he had The Courage to Act.
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0 sats \ 0 replies \ @Satosora 11 Dec
Helicopter Ben didnt help in any way.... He just made the system worse.
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0 sats \ 0 replies \ @Rothbardian_fanatic 12 Dec
Do the establishment credentials mean anything, especially, today? Many are so insidiously indoctrinated that they cannot see the flies on the sh*t!!
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10 sats \ 0 replies \ @IamSINGLE 12 Dec
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10 sats \ 7 replies \ @ama 11 Dec
Nobody could save the Roman empire. Nobody could save the British empire. Nobody could save the Portuguese empire. Nobody could save the Spanish empire. Nobody could save the Dutch empire. Nah, the orange guy won't be able to save the petrodollar empire.
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0 sats \ 2 replies \ @denlillaapan 12 Dec
...might take a hundred years though?
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0 sats \ 1 reply \ @ama 12 Dec
It might, indeed. The orange dude won't be around to save it, and neither will we to witness it, I'm afraid. But you know what'll be around? Bitcoin and Litecoin will.
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0 sats \ 0 replies \ @denlillaapan 12 Dec
Litecoin, HAHAHAHAHA. Yeah that's a good one
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0 sats \ 2 replies \ @Rothbardian_fanatic 12 Dec
He may be able to do something for the country, though. At this point, it is hard to see if it will be good or bad. What he says is good, but I have to see the actions, first.
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10 sats \ 1 reply \ @ama 12 Dec
He might keep the Bitcoin they already have and maybe even buy more to create a strategic reserve. Who will then make sure that he and/or some of the other delinquents he's nominating for his government won't goo away with the BTC? That would be a bad thing among all the many others they'll probably do... We won't have to wait too long to find out...
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0 sats \ 0 replies \ @Rothbardian_fanatic 12 Dec
Please refer to this post: #805614 Can Trump’s crew get any worse?
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0 sats \ 0 replies \ @Undisciplined OP 11 Dec
"Won't" and "won't be able to" are fundamentally different matters.
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10 sats \ 7 replies \ @BlokchainB 11 Dec
Nope it doesn’t need saving
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95 sats \ 6 replies \ @Undisciplined OP 11 Dec
Because it's doing fine or because we'll be better off without it?
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0 sats \ 0 replies \ @Rothbardian_fanatic 12 Dec
We are better off without it!! Who need constant pilfering by banksters?
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0 sats \ 4 replies \ @BlokchainB 11 Dec
I think it’s doing fine
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0 sats \ 3 replies \ @Undisciplined OP 11 Dec
It does always seem to defy the Doomers' predictions.
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0 sats \ 2 replies \ @Rothbardian_fanatic 12 Dec
It has enough guns behind it. Notice what happens to people who try to drop dollars? They seem to find themselves unceremoniously dead.
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0 sats \ 1 reply \ @BlokchainB 12 Dec
It’s more than just guns if the guns went away tomorrow all people know is dollars to transfer value to one another. Nothing is stopping anyone from accepting other monies for goods and services
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0 sats \ 0 replies \ @Rothbardian_fanatic 12 Dec
A lot of people around remember those silver dimes, quarters, half dollars and dollars! I think they can come up with something, maybe even BTC. The one thing stopping people is: LEGAL TENDER LAWS. You must accept FRNs! This is always enforced with guns. Get rid of the law, get rid of the guns, get rid of the FRNs.
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0 sats \ 0 replies \ @Msd0457890 12 Dec
The depreciation of the dollar, inflation and debt in the United States are several factors to know that maybe just maybe the dollar cannot be saved. Trump entered the White House bringing with him the Bitcoin flag which would lead him into what is hard money and not into fiat money which we know is a fallacy, a lie.
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0 sats \ 0 replies \ @Golu 12 Dec
Every good thing comes to an end. Similarly every bad thing also dies.
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0 sats \ 0 replies \ @DesertDave 12 Dec
No one can save the dollar. There is nothing to save. It isn't real.
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0 sats \ 0 replies \ @B_rian 11 Dec
I heard some arguments that a weak dollar will be good for rebuilding the American middle class.
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0 sats \ 2 replies \ @Imyourfed 11 Dec
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0 sats \ 1 reply \ @Undisciplined OP 11 Dec
"Can" and "will" are different question.
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0 sats \ 0 replies \ @Imyourfed 12 Dec
Damn! You made me feel so dumb now lol
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