Will the U. S. economy recover from sending the dollar to war?

[monorprise]

Will the U. S. economy recover from sending the dollar to war?

Once theses countries acquire enough alternative assets to really abandon the dollar the U. S. standard of living could decline between 25-50%

[RebelinSteel]

It’s not war or anything it’s normal trade, manufacturing

https://www.statista.com/topics/4698/sino-us-trading-relationship/#topicOverview

In 2022, China’s merchandise trade surplus stood at close to 900 billion U. S. dollars, of which more than 400 billion came from trade with the United States. Benefiting from China’s industry optimization strategy, labor-intensive manufacturing goods no longer took the lead in China’s exports. Instead, cellphones and computers were listed as two of the most exported goods from China to the States.

from the above that is $400 billion going to chinas economy and not the US economy.

[jahaims]

The us economy is fucked for the foreseeable future

[patois]

The Federal Reserve isn't a U. S. government agency. It's not American to begin with, they are the private West Central Bankers. They are in most countries around the world. The fact that you think it's America money is hilarious. You're really in the dark. America will be fine as soon as America returns to the Constitution and issues treasury certificates. America has the gold, the energy, the food, the workforce, etc. America will be fine. The Central Bankers are the ones in danger...

[monorprise]

When your financially and legals backed by the goverment your part of the goverment even if congress has lawlessly ceded executive control. @patois

The idea of "independent" agencies is not covered in the 11 page federal Constitution but was nonetheless invented by progressives trying to keep rivals from using some of their countless new federal powers and agencies assumed by said acts in ways counter to the interest of the politicians who originally created them.

As if the the first man appointed by their president was above corruption or would remain so when effectively also above accountability thereafter.

The federal Reserve was such an agency no matter what you call it.

The fact that congress requires we give full faith and credit (legal tender) to their banknotes and give them unlimited access to the mint makes the federal reserve a part of the same goverment.

Its worth noting that the power of Tender is only mentioned in the Federal Constitution once in Article 1 section 10 clause 1 in reference to the States having such power exclusive to Gold and Silver coins.

"make any Thing but gold and silver Coin a Tender in Payment of Debts;"

This makes make a lot of sense given the political, financial, and technological environment in which the Constitution was made.

[patois]

You sure type a lot for knowing nothing.

[DrPepper12]

The USA has been throwing away it's status as reserve currency since Nixon took us off gold. The euro and renimbi are already competitive and will take over in next 50-75 years. When we eventually do lose reserve currency status rates and prices will skyrocket. So ridiculous that these tools fuck around with our credit rating like it's monopoly money.

[monorprise]

@DrPepper12 Nixon didn't exactly have a choice we were running out of gold, and his congress had zero interest in abandoning the exploding welfare state driving down our competitiveness with regulations and taxes as well as up the dept.

While abandoning the effective gold standard was a bad choice, it was not an avoidable one as there would have been no gold remaining in short order.

Indeed there is soo little gold left they resist even the idea of auditing it.

[DrPepper12]

IDC for reasons. Currencies should float

[Chazmatazz269]

Probably not. We don’t have enough allies who will offset that deficit. The US economy will collapse.
The doomsday preppers are laughing their butts off now!

[monorprise]

@Chazmatazz269 Those allies are often in even worse demographic and economic straights than we are.

As our populations get older fewer and fewer are paying taxes in ratio of the people being paid by our enormous welfare states. The same welfare states and investment markets that promised people a future retirement even if they didn't have kids.

Well too few of them had kids, Gen-z is tiny even the millennials are way too few in number to support theses systems. As a result the pressure on our dept and our currency would be getting out of control even if Joe Biden didn't give the rest of the world a strong national security reason to abandon it by sending it to war.

What do you think is going to happen to all theses retired folks with the money they spent a life time saving is suddenly too little?