I can’t take this article seriously since it confuses debt and deficit. That’s an egregious error in the context of saying deficits are over 100% of GDP. That’s literally impossible.

It also completely ignored the $19+ trillion in commercial bank deposits nor explained how $19 trillion can be deposited with only $2½ trillion dollars. Or the total size of $29+ trillion in federal money market and bond instruments that are largely cash equivalent. The scale of those is rather critical to contextualizing the scale of USD-backed global financial systems.

Not sure if this was overuse of AI or an ill-informed author, but, either way, it erodes their credibility to the point I stopped reading. If I caught those errors in the easy stuff, then I don’t want to read other errors that I might not identify in the more technical argument the author was leading into.

Because historically gold and silver failed.

China is a currency manipulator, and will fuck you over.

Crypto is for criminal activities.

The euro is paralyzed by too many cooks, no oil and declining industry.

It’s not like the dollar is a good idea, it’s just that when everyone in the room is a crooked banker, then why not stick with the devil you know.

With any luck we are seeing a transition away from the US dollar as the standard. Countries are selling their US bonds, either buying or pulling their gold out of the US. Companies like the Google are starting to do more of their money stuff with the euro. We have seen this before, and the world will see it many times more in the future, until we as a species realize global communism is the answer.

No one wants to be the last person holding the bag. But if you know anything tell you government to dump the US dollar asap. Japan just got bailed out but still have to sale us dollars. China has off loaded 50% of their holdings.

Oil is tied to the petro-dollar. When the petro-yuan takes of America is going to be fucked because oil creating demand for dollars is propping up american currency.