One thing that concerns me that not many people have talked about is what's going to happen to the US dollar as the world's reserve currency? More and more countries want nothing to do with us and while the US dollar has a huge edge over any other currency, the US becoming a pariah is probably going to impact that.
politics
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
It's fine dude, Trump tweeted threats against any country that tried to get off the USD has the global reserve currency so therefore it definitely won't happen. Or something.
Yeah, you can read about it in the project 2025 page online....we know what is coming....we have for a few years...
For those who want to watch as the progress bar of doom slowly progresses...
If Dems were smart, and assuming we have a fair election next year, they'd have their own "Project 2027" in the works right now.
Of course, no one would believe them because they'll walk half of it back before they lose power again, but it would at least show they're adapting.
If Dems were smart they wouldn't have fucked Bernie in 2016
people were literally going back in time to try to assassinate him before the election. that should give us an indication of how bad it is going to get.
Trump is going to get worse until he's stopped. That has always been the case.
Iowa passed a law changing their state's interpretation of the Civil Rights Act to be one that excludes Gender Identity, they claimed they were doing it in order to protect women. This marks the first time that a group was removed from a protected status.
Chaos and Anarchy will break out in the US soon, the bad kind though.
not chaos and anarchy. any disruptions to order and civility will get crushed.
What's really got me sweating is the fact that we're living in sorta good times. A lot of people are struggling of course, and serious issues are unfolding, but imagine what the world could look like if we get hit by the next Great Recession or Great Depression. Things could quickly go from very bad to much, much worse.
I'm no economist, but I hear the economists are not thrilled with what Trump is doing to the economy. We're headed for a recession at minimum, if those folks are anything to go by.
the extent that Trump has gone to remove barriers to committing atrocities likely corresponds to the extent he intends to commit them
The perma stun proceeds as planned
And American still just going to whine on the internet and do nothing about it.
If anything this has completely vaporized the "checks and balances" democratic system everyone was so obsessed about.
Americans need to update the constitution where people have the power to dethrone a dictator as of right now theres nothing right?
The process of global de-dollarisation,much talked about, is being hastened far sooner than I think most people (at least those not privvy to whatever intelligence existed on Trump and others' motivations and intentions) expected.
The question as to whether the country with the largest military in the world can accept a much-reduced international role (and much reduced share of unearned global wealth to go with it), without kicking off a kinetic world war three will likely be answered shortly.
Trump and Musk appear wide open to exploitation/manipulation, without anywhere near the required experience or intelligence to maintain the US's international position.
Unstable times ahead.
global de-dollarisation
This is the real problem for us in the US. Currently debt doesn’t matter: that’s stupid and short sighted but it doesn’t matter. I’m not entirely sure what global de-dollarisation means but US debt is going to matter a hell of a lot more when we’re treated like any other economy
De-dollarisation is the dismantling of the dollar's role as global reserve currency, which is intimately tied to the petrodollar arrangement, which caused the world to buy oil in dollars for the last fifty years.
I welcome any corrections/clarifications, but off the top of my head, the petrodollar arrangement was an agreement that Richard Nixon's government made with the Saudis in the early seventies where the Saudis agreed to only sell oil in US dollars in return for military support. The agreement was a fifty year deal.
In order for countries to buy oil they needed dollars. This was and currently still is via the selling of US government bonds, which has allowed the US to fund its deficits by printing more and more US dollars. Ultimately the world has paid for that US spending. This ends with the end of the US dollar as global reserve currency.
Trump is showing in real time that the US cannot now be relied upon to provide security, so that half of the petrodollar arrangement is dead and gone. Would you fund the enemy's military spending? Plenty have. And when you wanted to try and sell oil in a currency other than dollars you got a whole lot of freedom!
This de-dollarisation very much suits the likes of Russia (for historical reasons) and China (for sound economic reasons) who do not want a world dominated by the US.
Trump is playing into the likes of Putin's hands fantastically. Not only is Putin getting what he wants from Trump in Ukraine, Trump is also voluntarily dismantling America's position as global leader. I don't know if he is a Russian asset, or if he is just so stupid, or believes the US should be an explicit oligarchy.
Buckle up, the future is not looking good for the US. Countries that have relied on the US are facing a period of serious instability.
The process of global de-dollarisation,much talked about, is being hastened
China has a thriving economy without the RMB being anyone's reserve currency.
I'm not really sure what your point is. I assume you are saying the US can have a thriving economy and not be the global reserve currency? If so, a couple of points:
-
The US's debts will come due as it loses global reserve currency status. Do you think it can pay those debts?
-
US and other capitalists outsourced production to China due to the lack of collectively bargained labour agreements and environmental protections. It was cheap. Are you saying the US could 'Make America Great Again' by making it a sweatshop!? Because I don't think that is what Trump voters had in mind for themselves.