What Does Paul Ryan NOT Understand about Reserve Banking?

[Th'Pusher]

Yeah. We will probably do at least that in the next 4 years as well. Certainly doesn't bode well for the dollar.

What's going to replace the dollar as the reserve currency? The yuan?

http://www.abc.net.au/news/2013-04-1...ction=business

[CosmicCowboy]

What's going to replace the dollar as the reserve currency? The yuan?

http://www.abc.net.au/news/2013-04-1...ction=business

It doesn't have to be a country currency. It could be a global GDP based bond issued by the IMF (or someone else) whose return changes yearly with global gdp and each individual countries currency floats against that bond. I am summarizing the most logical proposal I have heard. The US simply can't keep abusing it's position or SOMETHING will replace the dollar.

[Winehole23]

It doesn't have to be a country currency. It could be a global GDP based bond issued by the IMF (or someone else) whose return changes yearly with global gdp and each individual countries currency floats against that bond. I am summarizing the most logical proposal I have heard. The US simply can't keep abusing it's position or SOMETHING will replace the dollar.it would have to be something clearly better.

alternative reserve currencies don't lie ready at hand; they inhabit kooky schemes like the bolded.

[CosmicCowboy]

alternative reserve currencies don't lie ready at hand; they inhabit kooky schemes like the bolded.

Hey, I didn't think it up.

At the same time there are almost 7 billion people in the world and only about 314 million of them are in the US.

It is not logical that the other 6.7 billion people are going to sit back and just let the US all over the current reserve currency and not do something about it.

[Th'Pusher]

Hey, I didn't think it up.

At the same time there are almost 7 billion people in the world and only about 314 million of them are in the US.

It is not logical that the other 6.7 billion people are going to sit back and just let the US all over the current reserve currency and not do something about it.

We'll give up that reserve currency when they pry it from our cold dead hands.

[Winehole23]

[Winehole23]

so if we don't experience hyperinflation in 6 years will you change your tune? that will be 11 yrs since Obama and his "money printers" began.

Riposte, CosmicCowboy?

[CosmicCowboy]

Riposte, CosmicCowboy?

Meh...time frame may have been wrong but the trend is still there. We currently owe 'ourselves" almost 6 trillion dollars which was borrowed from the "lockbox" to pay future "benefits". We owe outsiders another 16 Trillion. We are now running trillion dollar annual deficits as far as the eye can see. Politicians on both sides of the aisle understand we are hooked on the deficit crack and can't ever get off it. They know there will be an ultimate reckoning, they just all hope they can kick the can down the road till it's not their problem.

[SnakeBoy]

Meh...time frame may have been wrong but the trend is still there. We currently owe 'ourselves" almost 6 trillion dollars which was borrowed from the "lockbox" to pay future "benefits". We owe outsiders another 16 Trillion. We are now running trillion dollar annual deficits as far as the eye can see. Politicians on both sides of the aisle understand we are hooked on the deficit crack and can't ever get off it. They know there will be an ultimate reckoning, they just all hope they can kick the can down the road till it's not their problem.

True, but that's a millenial/GenZ problem. I don't understand why you would make investment decisions now on something that "may" be a problem 20-30 years from now.

[CosmicCowboy]

True, but that's a millenial/GenZ problem. I don't understand why you would make investment decisions now on something that "may" be a problem 20-30 years from now.

I have done really well in these easy money times and am pretty well set financially barring a total breakdown of the economy. I do question your 20-30 year time frame though. It could easily be sooner than that. You never know what combination of events could trigger things.