tag:blogger.com,1999:blog-3758330678390419129.post6207527975666521009..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: How Trump’s Policies Will Displace the Dollar as the Global Reserve CurrencyRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3758330678390419129.post-4891506088768347602018-09-05T23:22:24.358-04:002018-09-05T23:22:24.358-04:00We very well could be going back to a gold standar...We very well could be going back to a gold standard within a few years. Just wait.Welorfhttps://www.blogger.com/profile/14481028474677255991noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-23087859018817197852018-09-05T22:07:14.162-04:002018-09-05T22:07:14.162-04:00While the printing may be rampant its not an easy ...While the printing may be rampant its not an easy feat to generate reserve status currency velocity on a global scale. Even more disappointing is no one cares to discuss this aspect of a reserve fiat. <br /><br />Its the elephant in the room and even if a basket of currencies could supplant the current king of the hill, it would have already been done if it was at all less than very hard to do!Shegottawideloadhttps://www.blogger.com/profile/16752677440246325222noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-46167469747141650772018-09-05T14:08:46.624-04:002018-09-05T14:08:46.624-04:00Precisely. Hilariously, to Trump and many other n...Precisely. Hilariously, to Trump and many other numbskulls, the U.S. is the appallingly abused victim in this economic arrangement. (Remember Nixon summarily reneging on Bretton Woods and blaming "the Speculators". <br /><br />Whether they exploit this victimization idea as a Big Lie to further their political ends (i.e. the standard M.O.), or whether they actually believe such yhwhhttps://www.blogger.com/profile/03252958621597911079noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-80140446452875059762018-09-05T13:34:09.240-04:002018-09-05T13:34:09.240-04:00"The US currently produces around 22% of worl...<em>"The US currently produces around 22% of world output measured at market prices, and around 15% in purchasing-power-parity terms. Yet the dollar accounts for half or more of cross-border invoicing, reserves, settlements, liquidity, and funding."</em><br /><br />In other words, our reserve-currency status has let the Fed print money with reckless abandon without suffering the full Pandemichttps://www.blogger.com/profile/02315340208949970292noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-27511101129714876612018-09-05T12:17:25.367-04:002018-09-05T12:17:25.367-04:00Jim Grant attributes the much-quoted "exorbit...Jim Grant attributes the much-quoted "exorbitant privilege" observation to French economist Jacques Rueff ("The Monetary Sin Of The West" and many other works). I've heard people credit De Gaulle for the phrase but this is the first time I've heard someone say it was d'Estaing.yhwhhttps://www.blogger.com/profile/03252958621597911079noreply@blogger.com