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The demise of the petrodollar is a given.
Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly"
Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly" | Zero Hedge
He goes on to discuss part-time jobs, the understating of employment, the looming US recession, the US can't afford higher rates of interest, don't deserve their bond rating, and will be downgraded...
Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly"
Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly" | Zero Hedge
So what?
I love the doomsday crowd. I particularly get all warm and fuzzy when they refer to our trade deficit as an imbalance. This is akin to saying I have an imbalance in my Chase checking whenever I use my debit card. I use my checking account when I pay my bills, buy shit off of Amazon, go on vacation, etc. The debits in my checking account are equal to the exact amount of goods and services I purchased, used, and consumed, which boils down to an accounting entry so to speak. My amount of money may have decreased, but my supply of real goods and services increased.
In order for the rest of the world to dump their dollar holdings, they MUST exchange them for real goods and services produced by Americans. This means any foreigners would have to take their US dollars and give them back over to Americans who worked to produce the goods and services they decide to purchase.
From the article:
He goes on to discuss part-time jobs, the understating of employment, the looming US recession, the US can't afford higher rates of interest, don't deserve their bond rating, and will be downgraded...
LOLZ
The FED sets the interest rate all along the term structure, but will allow for some fluctuations between the discount rate and IOR rate.
Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly"
Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly" | Zero Hedge
So what?
I love the doomsday crowd. I particularly get all warm and fuzzy when they refer to our trade deficit as an imbalance. This is akin to saying I have an imbalance in my Chase checking whenever I use my debit card. I use my checking account when I pay my bills, buy shit off of Amazon, go on vacation, etc. The debits in my checking account are equal to the exact amount of goods and services I purchased, used, and consumed, which boils down to an accounting entry so to speak. My amount of money may have decreased, but my supply of real goods and services increased.
In order for the rest of the world to dump their dollar holdings, they MUST exchange them for real goods and services produced by Americans. This means any foreigners would have to take their US dollars and give them back over to Americans who worked to produce the goods and services they decide to purchase.
From the article:
He goes on to discuss part-time jobs, the understating of employment, the looming US recession, the US can't afford higher rates of interest, don't deserve their bond rating, and will be downgraded...
LOLZ
The FED sets the interest rate all along the term structure, but will allow for some fluctuations between the discount rate and IOR rate.
It's exactly like corporation claiming that there is a problem when they take on liabilities. The asset side must go up as well as a result so there is no problem.
The problem in the USA is that the asset side is not going up, as people are spending the burrowed money on a rampage to buy foreign goods. Instead your equity is going down. Which WILL lead to a trouble (decreased standard of living) in the long term.
It's not the burrowing alone... It's the burrow and spend.
Have you structured your portfolio to take advantage of the impending dollar collapse?Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly"
It's exactly like corporation claiming that there is a problem when they take on liabilities. The asset side must go up as well as a result so there is no problem.
The problem in the USA is that the asset side is not going up, as people are spending the burrowed money on a rampage to buy foreign goods. Instead your equity is going down. Which WILL lead to a trouble (decreased standard of living) in the long term.
It's not the burrowing alone... It's the burrow and spend.
Personally I wish the states would have seceded already and re-federalized a new government and had a government with a state run banks with Federal oversight.
Have you structured your portfolio to take advantage of the impending dollar collapse?Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly"
Or are you like most who's sense of economics comes from doomsday youtube videos, all talky talky but no assets to worry about managing?
