Comment hidden because you are ignoring dag.(show it anyway)

This is a good clip - but title is inaccurate. He's not talking about a run on the dollar, he's telling a parable.

*rimshot*

What Peter is talking about is "decoupling" which hasn't happened yet. I thought like Peter does that China would decouple soon and the dollar would fall through the floor. I'm starting to think China won't decouple until there is a change in reserve currency. If they decoupled now we still have the world's reserve currency and could build our production base up again relatively quickly. There are supposed to be new Bretton Woods-like meetings next year. I think things will stay pretty much the same until we see what comes out of those meetings.

When the US barks why does the rest of the world pay attention?
Military? No, that doesn't matter to the countries with nuclear weapons.
Morals? Oh, Please.
Democracy? We're supposed to be a republic, but until the executive gets reined in a bit that's debatable. Plus, there are other countries in the world that are similar to us. We aren't special.

It's because of the Dollar and it's reserve currency status.

The US having the reserve currency these few years and possibly losing it, is like someone winning the lottery, spending it all and then some, and then asking your friends for loans.

Devaluation of the currency wouldn't be nearly as bad if we were more of a manufacturing economy. It would make our exports more attractive to other countries.

The problem is that if the dollar drops a lot, we still have to import much of what we need, and it will cost a lot more. Schiff (and others) are warning that printing all of this money for bailouts is leading to exactly that situation. More money in circulation = each dollar is worth less.

It will be interesting to see if that happens before our government figures it out, though I'm really not looking forward to hyperinflation.

Worthless Americans giving us half of humankind's scientific output... Why don't they get real jobs, like gathering wood?

We still don't have a money tag yet, go figure.

>> ^dag:
This is a good clip - but title is inaccurate. He's not talking about a run on the dollar, he's telling a parable.


I agree, and maybe it's just my pinko-commie side shining through, but it sounds like a parable about labor, management, and income disparity, not something like currency reserves.

I also thought it was going to end with a bout of cannibalism, but maybe that's just my hunger for human flesh shining through.

*dead

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