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Re: The US economy is in big trouble along with the whole world

By: Cactus Flower in ALEA | Recommend this post (0)
Tue, 09 Dec 14 8:29 PM | 18 view(s)
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Msg. 16508 of 54959
(This msg. is a reply to 16505 by faul)

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you once told us that no fiat currency lasts for more than 30 years. or was it 40.

the us is in its 44th year as a fiat currency.

another timeline that failed.

are you snackman in disguise? Cheesy Grin




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The above is a reply to the following message:
Re: The US economy is in big trouble along with the whole world
By: faul
in ALEA
Tue, 09 Dec 14 8:21 PM
Msg. 16505 of 54959

All empires end..........all FIAT currencies revert to zero.

"Perhaps surprisingly, given Keynes ’s central role in authoring the reserve-currency system, some American Keynesians such as Kenneth Austin, a monetary economist at the U.S. Treasury; Jared Bernstein, an economic adviser to Vice President Joe Biden ; and Michael Pettis, a Beijing-based economist at the Carnegie Endowment, have expressed concern about the growing burden of the dollar’s status as the world’s reserve currency. For example, Mr. Bernstein argued in a New York Times op-ed article that “what was once a privilege is now a burden, undermining job growth, pumping up budget and trade deficits and inflating financial bubbles.” He urged that, “To get the American economy on track, the government needs to drop its commitment to maintaining the dollar’s reserve-currency status.”


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