End of the dollar-international currency board
@deciochaves152
1 day ago
“There are many people here saying that the world is de-dollarizing. They're all going to die and they won't see it. The Dollar is not huge just because people believe in it, but mainly because the American economy is a true colossus, it is gigantic, and much more transparent and genuinely market-oriented. Hence, despite everything, agents prefer to trust the Dollar much more than the Chinese currency, for example. Despite the size of the Chinese economy, the market does not have confidence in China.”
I disagree, explain and justify:
The US melted: Chinese electricity production 8200 gigawatts; USA 4000 gigawatt; Chinese steel production 1.2 mega tons; USA 0.86 mega tons; Chinese cement production 1.0 gigaton; USA 0.20 gigaton; China automobile production 27 million; US 11 million. Doubts?
What portion of the US GNP or GDP does the bubble of financial derivatives and securities quoted on the NYSE New York Stok Exange stock exchange represent?
Possibly, the volatile stratospheric values quoted in real time in microseconds by the day trader of stocks and derivative papers transform the US GDP into an accounting fiction of the largest financial pyramid in the history of humanity, which pierced at least three times, the first experience in disaster of 1929, with the confiscations of gold from American citizens in 1932, and with the famous default crisis of 1971 with Richard Nixon destroying the gold reserve backing of the North American treasury, this happened before with the breach of the silver guarantee on the fiat currency called the dollar at that time, which maintains the same name but in reality is many versions of various monetary bases in the banking history of the USA since 1779.
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