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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Unhinged…Emotional regulation is not his jam…his board should be concerned.
EDWARD DOWD
Lawton Ok (Ft Sill Army) through SW OK had phone outage, on "emergency call only" until 11p central last night.
🇺🇸📰 There is a flurry of reports over the past 72 hrs from the US media (NYT, WSJ, WaPo, Axios, CBS, etc) raising questions on US readiness for major war with Iran.
There's too much for it to be coincidence. Either the WH is trying to signal to its allies that they're taking a deal or the Pentagon is trying to tie Trump's hands or make sure they're not blamed for the result of war.
To be clear, the Pentagon has its own press people who go behind the White House's back all the time to shape media narratives. Its often done to manipulate the President by having the press describe his as weak or indecisive. So this certainly does not go without precedent.
USS Gerald Ford's blocked toilets are becoming a meme. Complaining about the toilets on a $13 billion ship seems like a cheeky way to draw attention to the "readiness deficit" of a carrier that's been at sea for too long, which would raise questions about air defenses and air wing systems. Navy Dept had opposed the USS Ford's ...
