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Goodbye to the Dollar

posted by martyb on Tuesday February 05 2019, @04:31AM   Printer-friendly
from the hello-ruble dept.

An Anonymous Coward writes:

https://www.truthdig.com/articles/goodbye-to-the-dollar/

The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency. Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war. These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade. This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out. It will trigger an economic death spiral, including high inflation, which will necessitate a massive military contraction overseas and plunge the United States into a prolonged depression. Trump, rather than make America great again, has turned out, unwittingly, to be the empire’s most aggressive gravedigger.

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  • (Score: 0) by Anonymous Coward on Tuesday February 05 2019, @03:35PM (2 children)

    by Anonymous Coward on Tuesday February 05 2019, @03:35PM (#796696)

    Sounds like your a pro at coming up with strawmen to me.

  • (Score: 2) by Thexalon on Tuesday February 05 2019, @05:01PM (1 child)

    by Thexalon (636) on Tuesday February 05 2019, @05:01PM (#796744)

    The libertarians I've chatted with include neighbors, a Libertarian Party congressional candidate, and some friends of mine. Now, they may not be the best exemplars of libertarian thought, but they sure seem like a pretty reasonable cross-section of actual libertarians.

    As for the anarcho-capitalists, I'll admit I've only really encountered them online, mostly ranting about how a violently imposed monopoly is ruining everything good and holy about the free market, how the government wants to take their guns, and so on.

    --
    The only thing that stops a bad guy with a compiler is a good guy with a compiler.

    • (Score: 0) by Anonymous Coward on Tuesday February 05 2019, @05:09PM

      by Anonymous Coward on Tuesday February 05 2019, @05:09PM (#796749)

      I'd use ron paul as the prototypical modern libertarian. We have no idea what your friends actually said and whether you misinterpreted it or not so it is much better to use what is available in public.