We know what’s coming and we are prepared.
IE: US faith in the stability of the dollar will be tested
Rumours of the death of the dollar are exaggerated, but only for now, writes the author of the article for The New Indian Express. The problems with the American currency are increasing, and the cause of this is Washington itself. Ultimately, the US will overplay their hand and lose their political prestige.
At the moment, there is no doubt in the US about the stability of the dollar as a reserve currency. However, considering the country's economic, political, and social problems, this faith will be put to the test.
To paraphrase Mark Twain's famous joke, rumours of the death of the dollar are exaggerated, although its health problems are increasing.
The problems with the dollar are mainly caused by Americans themselves. The unrestrained fiscal and monetary policies of the US - with a budget deficit and government debt at 7% and over 100% of GDP respectively - have reduced the dollar's long-term purchasing power. Since 1972, it has fallen by 99% against gold and lost 90% of its purchasing power in the market for real goods and services.
American politicians have always sought to use the dollar as a weapon to achieve their own goals, thereby compensating for economic weaknesses, such as lack of competitiveness. The US has sought to exclude foreign entities from international payment systems, such as SWIFT.
Washington imposes secondary sanctions to punish individuals and organisations that are not even under US jurisdiction. If a Russian company is under sanctions, anyone doing business with it may be subject to legal action, even if they comply with their own country's laws. This is done through a questionable system of dollar transactions that only pass through the US banking system. International banks and others have already faced legal action for operations that are legal in their own country. The threats are sufficient to disrupt dealings with organisations under US sanctions.
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āRepublicanā Senator Susan Collins has been caught in a major campaign finance scheme after Democrat mega-donor Martin Kao funneled more than $200,000 to her campaign before she later announced an $8 million Pentagon contract benefiting his company Navatek.
Texas Suhoor Fest, where over 10,000+ Muslims gather to celebrate
Islam is the fastest growing religion in Texas by both absolute numbers and percentage increase
It was driven by immigration and now with their high birth rates itās exploded
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Free speech advocates have warned that Canada's cybersecurity bill would allow Liberals to block any individualās internet access by secret order.
The push for people to share their spare rooms with unknowns is being seen worldwide.
Nova Scotia has come up with a new way to deal with the provinceās housing crisis.
The provincial government announced today it will spend $1.3 million over two years to expand its partnership with a free, online home-sharing platform known as Happipad.
Operated by a Canadian non-profit organization, the platform brings together renters seeking affordable, month-to-month accommodation with residents who have rooms to rent in their homes.
