Quite a Card
Orson Scott Card’s rollicking and keen observations about most anything are often exceptional. His range of interests and level of exuberance, paired with a generally kind and tolerant spirit, are a breath of fresh air these days.
President Trump wants a Nobel Peace Prize so bad that he offered the murderous dictator Kim Jong Un protection if he gives up nuclear weapons. He even promised that the dictator would remain in power and his country would be very rich. This is appeasement. We need a national government that opposes, not appeases, all dictatorships. Unfortunately we have never had one and we probably never will.
A lot has happened to our dollar, especially since liberals like a guy named Paul said we should have gone in debt twice as much as we did, way back when. Our children and theirs will suffer enough from this mistake as it is.
Yes, this type of thinking has helped to decimate the dollar. Why? Supply and demand for an over-valued dollar will only hurt its value in the eyes of others. So, what is likely to replace it? China is calling for a new global currency and surprisingly it’s not for the yuan. Since they hold an estimated $1 trillion in US debt, an overhaul of the dollar will likely suffice for them, for now. However, it’s still the yuan they someday hope to see as the world’s reserve currency. But it’s the G20 that might soon make a decision in this regard as they question things like – will Trump’s tariffs on China hurt as much as Obama’s lack of tariffs did, or has the massive debt Obama left behind finished the dollar for good?
It’s anyone’s guess but don’t count out the importance of China’s entry into the IMF’s pool with an impressive voice in the special drawing rights basket. China has moved away from communism and towards a democracy with free markets that rely on supply and demand. That move has left it with an impressive growth record it lacked before.
Finally, what might an overhaul of the dollar entail? My guess would be some requirement for it to be backed by a percentage of gold and SDR’s.
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