“You have more than you know.” Would this statement also refer to the power of the dollar in the hands of We the People.
🗣️ DISCUSSION 💬
When pushed too hard We the People can fight back with where we spend or more importantly DONT spend our money. Look at Bud Light, Disney, etc If they took our VOTE, let’s TAKE THERE REVENUE STREAMS!
Sure, definitely think local and vote with your own wallet. BUT.
The dollar's value is affected by the petro-dollar, which is an instrument implemented by Nixon in 1972. The idea was to replace the backed by gold value with backed by oil (I member the negotiations well, because my father worked in the oil-industry - there was a Sheik Yamani which caused much hilarity in my family - Shake your money - get it?). At the time, the US owned one of the world's major oil resources. In the interest of making oil-transactions simple, the OPEC countries agreed, thereby forcing the entire world to buy oil using the 'dollar'.
This was awesome for the US dollar, but not so awesome for the rest of the world, who could not spend a significant portion of their internal revenue in their own currency. The result was inflation for those countries. (think supply and demand - they had an oversupply of their own currency, and a need to buy dollars). One can laugh at Italy's lire for example, but the rampant inflation was real, and it was not all due to political incompetence, given that Italy's intensive industrial complex needed oil to feed it.
The US inflation is a big problem now that the BRICS and OPEC+ countries have decided to trade in their own currency, or in the reciprocating country's. Given that the BRICS are now more than half of the world's population, the Petrodollar is being replaced by a Petroruble, or a Petroyuan, or whatever. Uganda has just decided to use their own currency, and good for them, for realizing that they have the power to cut the rot out of their system.
However, this means that the global market is awash with useless Petrodollars, which will cause rampant inflation of the US dollar due to oversupply.
In a way, the replacement of the Petrodollar is a form of retribution for the Centralized World Dominance that the USA has been pursuing for the last fifty years. However, the solutions for the US population must be tackled by We the People, somehow. One such solution is to get the gold backing back, but guess where all the gold is hiding? Most of it is now in India, Russia and China, who have been aware of this very big problem for over fifty years. Meanwhile the US Federal Reserve and Comex have been fiddling with the Gold price via Electronically Traded Funds, to keep the price down. And there are lots of these, way more than the actual supply of gold. When that dam breaks, gold will hike to the moon. Oh and remember the 9/11 stories about a massive store of gold that disappeared from beneath the WTC? Yeah that particular story has been memory-holed as well.
What other resources could be used to back the US currency, so that the population does not have to resort to barter? Could it be a basket of resources? It is not an option to allow the US currency to remain just paper and steel coins, backed by nothing. Oil is no longer an option, and it appears neither is gold. Paper and steel (i.e. the unsupported cash you are holding), is a recipe for rampant inflation.
I suppose Bitcoin has been floated as an answer, but there are so many cryptos competing with that particular decentralized solution, and the Feds are trying for a central one, thus grasping at straws.
You did say you wanted a discussion. LOL