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393 sats \ 2 replies \ @Rothbardian_fanatic 12 Dec \ on: Can Trump Save the Dollar? econ
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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