The dollar as global reserve currency is supported by US military power and US military power is supported by the dollar as global reserve currency. Technically there is no upper limit to the debt as long as that duality remains true and it will remain true as long as there is no alternative reserve currency.
However USG is an increasingly erratic rogue state.
China, Russia etc can’t contain USG militarily so there only option is to take down the dollar and replace the global reserve currency with something else.
Hence China buying all the gold that’s been stolen from the Federal Reserve over the years.
The Chinese don’t want to float their currency as it would instantly turn into the global reserve currency and appreciate massively hurting their exports but they must be close now to the point where they *could* take down USG in a day.
Personally i think this currency collapse scenario is the most likely. It doesn’t chaneg all the MW stuff you talk about as all that would be just as useful in a currency collapse.
I remember when liberals taunted us about white nationalists being a small minority of whites. They aren’t laughing any more The same study found that these participants viewed immigrants moving into their neighborhood as an existential threat. These experimental … Continue reading →
There have been experiments in utopian living. Brook Farm (1841-1846): The Transcendentalist Romance. Site of Brook Farm in West Roxbury, Massachusetts. … Fruitlands (1843-1844): The Farm Without Farmers. … New Harmony (1825-1829): The Boatload of Knowledge. … Oneida (1848−1881): The … Continue reading →
In the USA, there is a certain “snobbery” among math teachers, who think that “Problem Solvers” type books are “cheating,” at learning math and physics. You’re supposed to just have the problem, and the final answer, and come up with … Continue reading →
Tim, Denazification was an atrocity committed against the German people after World War II. Of course, it was an age of atrocities; it was one among many. But it was not justified by 2018 standards or done in any way … Continue reading →
Keoni wrote: For many years, I used to refer to the infernal idiot box as the “Tell-a-Vision.” It was a term I cribbed from Nancy Levant, authoress of The Cultural Devastation of American Women. She was one of the first … Continue reading →
In the old days they had work houses and town farms to absorb and function as in loco parentis to chronological adults who are still mental children I see in the works of our New England forebears a focus on … Continue reading →
Mind War is a branch of economics, because it is about affecting the sum of our decisions. Economics is all about decision trees of tradeoffs and opportunity costs. The sum of our decisions, plus Fate, puts us in our present … Continue reading →
It is a happy coincidence, or perhaps not, that for many years I have LARPed as best I can as a Buddhist, studying the Pali Canon and meditating, and would consider the Dalai Lama my religious leader. Considering my religious … Continue reading →
This blog went dark for a while after my wife ran for probate judge and her opponent’s camp doxxed me just before the election and so Andrea won dirty. She was expected to easily win the 2018 election She didn’t. … Continue reading →
These people are so self absorbed and live in a privileged bubble. Edit – – in my comment below I wrote that these yentas have not yet experienced the private jet pilot problem. I was wrong! Listen to them kvetching … Continue reading →
That was pretty much expected. We set new records every month.
I think the key will be gold.
The dollar as global reserve currency is supported by US military power and US military power is supported by the dollar as global reserve currency. Technically there is no upper limit to the debt as long as that duality remains true and it will remain true as long as there is no alternative reserve currency.
However USG is an increasingly erratic rogue state.
China, Russia etc can’t contain USG militarily so there only option is to take down the dollar and replace the global reserve currency with something else.
Hence China buying all the gold that’s been stolen from the Federal Reserve over the years.
The Chinese don’t want to float their currency as it would instantly turn into the global reserve currency and appreciate massively hurting their exports but they must be close now to the point where they *could* take down USG in a day.
Personally i think this currency collapse scenario is the most likely. It doesn’t chaneg all the MW stuff you talk about as all that would be just as useful in a currency collapse.