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John Kerry Warns "Dollar Will Cease To Be Reserve Currency Of The World" If Iran Deal Rejected
Scaremongery... or maybe the whole point, as Obama's former chief economist noted, is to lose reserve status. Take That China!!
As Jared Bernstein previously explained...
There are few truisms about the world economy, but for decades, one has been the role of the United States dollar as the world’s reserve currency. It’s a core principle of American economic policy. After all, who wouldn’t want their currency to be the one that foreign banks and governments want to hold in reserve?
But new research reveals that what was once a privilege is now a burden, undermining job growth, pumping up budget and trade deficits and inflating financial bubbles. To get the American economy on track, the government needs to drop its commitment to maintaining the dollar’s reserve-currency status.
The reasons are best articulated by Kenneth Austin, a Treasury Department economist, in the latest issue of The Journal of Post Keynesian Economics (needless to say, it’s his opinion, not necessarily the department’s). On the assumption that you don’t have the journal on your coffee table, allow me to summarize.
It is widely recognized that various countries, including China, Singapore and South Korea, suppress the value of their currency relative to the dollar to boost their exports to the United States and reduce its exports to them. They buy lots of dollars, which increases the dollar’s value relative to their own currencies, thus making their exports to us cheaper and our exports to them more expensive.
In 2013, America’s trade deficit was about $475 billion. Its deficit with China alone was $318 billion.
Though Mr. Austin doesn’t say it explicitly, his work shows that, far from being a victim of managed trade, the United States is a willing participant through its efforts to keep the dollar as the world’s most prominent reserve currency.
When a country wants to boost its exports by making them cheaper using the aforementioned process, its central bank accumulates currency from countries that issue reserves. To support this process, these countries suppress their consumption and boost their national savings. Since global accounts must balance, when “currency accumulators” save more and consume less than they produce, other countries — “currency issuers,” like the United States — must save less and consume more than they produce (i.e., run trade deficits).
This means that Americans alone do not determine their rates of savings and consumption. Think of an open, global economy as having one huge, aggregated amount of income that must all be consumed, saved or invested. That means individual countries must adjust to one another. If trade-surplus countries suppress their own consumption and use their excess savings to accumulate dollars, trade-deficit countries must absorb those excess savings to finance their excess consumption or investment.
Note that as long as the dollar is the reserve currency, America’s trade deficit can worsen even when we’re not directly in on the trade. Suppose South Korea runs a surplus with Brazil. By storing its surplus export revenues in Treasury bonds, South Korea nudges up the relative value of the dollar against our competitors’ currencies, and our trade deficit increases, even though the original transaction had nothing to do with the United States.
This isn’t just a matter of one academic writing one article. Mr. Austin’s analysis builds off work by the economist Michael Pettis and, notably, by the former Federal Reserve chairman Ben S. Bernanke.
A result of this dance, as seen throughout the tepid recovery from the Great Recession, is insufficient domestic demand in America’s own labor market. Mr. Austin argues convincingly that the correct metric for estimating the cost in jobs is the dollar value of reserve sales to foreign buyers. By his estimation, that amounted to six million jobs in 2008, and these would tend to be the sort of high-wage manufacturing jobs that are most vulnerable to changes in exports.
Dethroning “king dollar” would be easier than people think. America could, for example, enforce rules to prevent other countries from accumulating too much of our currency. In fact, others do just that precisely to avoid exporting jobs. The most recent example is Japan’s intervention to hold down the value of the yen when central banks in Asia and Latin America started buying Japanese debt.
Of course, if fewer people demanded dollars, interest rates - i.e., what America would pay people to hold its debt - might rise, especially if stronger domestic manufacturers demanded more investment. But there’s no clear empirical, negative relationship between interest rates and trade deficits, and in the long run, as Mr. Pettis observes, “Countries with balanced trade or trade surpluses tend to enjoy lower interest rates on average than countries with large current account deficits, which are handicapped by slower growth and higher debt.”
Others worry that higher import prices would increase inflation. But consider the results when we “pay” to keep price growth so low through artificially cheap exports and large trade deficits: weakened manufacturing, wage stagnation (even with low inflation) and deficits and bubbles to offset the imbalanced trade.
But while more balanced trade might raise prices, there’s no reason it should persistently increase the inflation rate. We might settle into a norm of 2 to 3 percent inflation, versus the current 1 to 2 percent. But that’s a price worth paying for more and higher-quality jobs, more stable recoveries and a revitalized manufacturing sector. The privilege of having the world’s reserve currency is one America can no longer afford.
* * *
In the global race to debase, Reserve currency status is a curse!
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The Iranian Deal’s Cast
The Good (our Ayatollah-in-chief)
The Bad (their Ayatollah), and
The Ugly (John Kerry)
Looney ;-)
There you have it. Straight from the horse's mouth.
John...relax and take a seat.
US started discussions with Iran when it was realized that Iran was trading oil for gold with India.
A little quid pro quo'ing, I'd bet.
Ya, The Quid Pro Quo was....You stop selling Oil for Gold or you will go the way of Iraq and Libya.
Iran has been absorbed into the American fold and now we deny the BRICS another key cog they needed to overthrow the Dollar Hegemony. Deal was always about economics.
Allah help the Iranians, as I think they may end up on the wrong side of history on this.
Damn it!
John Kerry is.
All Bullshit...
Who Wouldn't Want A Strong Reserve Fiats Paper Money??????????? ... All The Money You Can Print, All The Wars You Want To Fight, All The GOLD You Want To Accumulate, All The Shills And Politicos You Want To Buy Off, All The International Assets You Want To Own...
Gee, This RESERVE CURRENCY Sounds Like Such A BURDEN...
Please quit laughing.
While I eschew the statist paradigm, Kerry is absolutely correct in this case.
Obama must be desperate to trot out Lurch Kerry to sell the Iran deal.
When all countries settled their debts in gold we had a global reserve currency, it was gold. I guess that didn't work since gold can not be printed.
Willllbbburrr!
The question on everyone's minds is whether he will be running in the Breeders CupTM.
The question on everyone's mind is if Kerry can win from the four slot in the 5th race at Aquaduct.
If the ayatollah gets the old 'horses head in the bed' warning, will it be kerry's?
the reckless way the fed is printing, they don't care about having the reserve currency status and since it seems 98% of americans have no idea what we are even talking about id say 1 its inevitable and 2 its going to throw america into a depression like has never been seen in human history. meanwhile the jews have their gold safely stashed away and their debt slaves perpetually ignorant.
Sooooo....a supposed "diplomat" is telling the whole world that if this administration doesn't get its own way on this "deal" then the U$A will go tits up? Who does this fucking retard think he is??? Must be an absolute nightmare to be Zero's personal fuck toy, no??
What a dickwad is John.
The entire affair is much like a bad off-broadway play... Poor script, poor actors, poor direction and a 3rd act that will just kill you...
He cant win with that busted leg of his he got at the Hippodrome. That mustof hurt.
~"John Kerry Warns "Dollar Will Cease To Be Reserve Currency Of The World""~
Wait, wasn't that Obama's plan all along, to knock down that pesky "American Exceptionalism"? Why is that little biatch Kerry fussing about that now? Tell me one mothertruckin' thing Obama has done to NOT have that come about! Go on, name it! Just one!!!
Butt-nugget.
He can't get a clean Coggins test.
What just hit me was that if Jerry Kohn is gnawing upon the smelly bone of the US loosing reserve currency status, then it is sure a Definite Concern within the halls of power.
For all but Barry, for his Cloward Piven strategy is wrecking well.
interstingly per the comments here , few actually realize the USD is on its way out ? It is already in motion and BHO and crew have no idea what they are about to put into motion. They think they can use this as a control mechanism, but it will backfire on them for sure ! They are completely consumed in their arrogance and ignorance. But that is what control freaks, sociopaths and psychopaths do !
We all live in massive illusions and all are simply control mechanisms ! Obama care would be a prime example. Or "hands up don't shoot" ?
The more I look at his photo, I 'm sorry to agree that he does sort of look like a horseface:
https://pbs.twimg.com/profile_images/2180276167/horse_face_dave.jpg
"Lurch Kerry" LOL
Why the long face John?
Too much inbreeding
This guy has no credibility. How can anyone believe anything he......hey, nice haircut!!
My watching his voice and body language I believe this mf'er has some fear. One domino.
We'll all die in an all-out nuclear war if the US Dollar loses its world reserve status.
Nixon abandoned the gold standard and replaced it with the nuclear standard. The Minuteman III ICBMs went online the same time he gave his infamous 1971 speech. The dollar is no longer backed by gold, but by nuclear weapons. The rest of the world must put up with virtually unlimited 1s and 0s or face nuclear annihilation.
If some world power were to challenge the dollar like China for example, the Bonesmen who run America would rather us all die in a radioactive wasteland than to give up the godlike powers of unlimited money printing.
The Bonesmen who run America have underground bunkers with decades of storable food, seed vaults, reservoirs of water and entire underground cities to await the deliberately scripted doomsday. Meanwhile us surface dwellers get wiped out, and the collateral of the United States' real estae will be worth zero as it is uninhabitable.
Russia has spent trillions of rubles updating their nuclear arsenal to improve their first strike capabilities. This will allow them to establish BRICS and challenge the dollar's hegemony backed by force.
The days of huge bombers dropping megaton devices are awfully outdated. The new paradigm are MIRVs with hundreds of warheads in the tons range. This will make nuclear war "winnable" and make mutually assured destruction totally obsolete.
9th Doctor Strangelove?
We must close the mineshaft gap!
re bunker seed banks, as if those do nothings could farm LOL
Dont expect too many up votes GMS, your post is lost on the shermans
Damn. My biz plan specifically calls out monetizing those.
I hope those undergroudn bunkers ain't near those Colorado mines:
EPA's McCarthy: Contaminated water from Colorado mine will spreadhttp://www.foxnews.com/politics/2015/08/11/epa-mccarthy-contamination-fr...
9th Doctor - Here is Gordon Duff's take at Veterans Today: http://www.veteranstoday.com/2015/08/10/disclosure-why-sabotaging-the-iran-agreement-takes-down-america/
Not sure that I buy the whole enchilada on this but there is evidence that the "Die Gloken" bell project was transferred to Argentina after WWII (Joseph Farrell has researched this exensively). And I notice that there seems to be an increase of "leaks" regarding free energy, anti-gravity,etc. these days. A lot of these reports and research are very intrigueing but I sometimes get the sense that the whole lot of them are running one giant psyop and that something different will come out of left field that we don't expect.
Of course when your Secretary of State (CFR member and Horse's Ass) scaremongers about Currency Reserce Status and links it to a trade deal with Enemy #1 then you know they are desparate.
Let's try to stay on the reservation pal, mmmk?
The "Reservation" was taken away when the found gold in the Black Hills (ask the Lakota Sioux). All treaties are meant to be broken (USSA founding diplomacy principle).
I am merely pointing out that a lot of interesting "information" propaganda and sometimes actual dirt is being released right now. My take is that WWIII is here and the weapons of choice are: Trade wars (TPP / TPIP), currencies, cyber warfare, propaganda, proxy wars, color revolutions and control of illegal drugs and illegal arms.
That being said, anyone who thinks that nuclear warheads are the top of the military stockpile has not been paying attention.
VT one giant MIC psy-op. j
Just one flaw in your thinking.
Only the Russians were smart enough to keep their MIRV's. The US, not so much.
http://allthingsnuclear.org/the-end-of-mirvs-for-u-s-icbms/
You don't need MIRV's when you have carrier groups and submarines all over the planet with nuclear cruise missile capability. The US could nuke half the planet before anyone was even aware the birds were in the air. Tomahawks can fly under radar making them undetectable and the perfect first strike weapon. They are also significantly cheaper than minuteman missiles. So don't think of this as a backing down, rather a change of strategy.
The idea of the US as nuclear power has been changing, but so has the technology, and the US has not sacrificed any military power to comply with these new demands by the international agreements. While I agree that a nuclear free world would be preferable, it's not going to happen as the cat is already out of the bag.
Um, as a former farmer, I have to wonder exactly WHO you think these bluebloods are going to have raising their crops for them when they finally emerge from their bunkers once the radiation level is low enough to grow crops again.
Apparently in your mind, it isn't going to be them! (Happy starving, farming is HARD work and they've never done any!)
Dirt farming is old fashioned. The only reason people still do it is because of it's simplicity and easy ability to control those farms without being near them.
Sorry, but your script won't play out that way. And BTW, Nixon dumped gold convertibility in exchange for "the petrol dollar". That arraignment works as long as the US controls the powers that be in Saudi. The reserve status of the US$ ends when they decide. They want a global digital "currency", and they shall have it soon. No need for nukes when you have that kind of power, it is absolute in every sense. BEHOLD A PALE HORSE.
In practice the dollar is backed by the conventional US military & intelligence services, not by the nukes. It's widely known that there are virtually no situations in which the US will initiate an ICBM first strike, but we are sure as fuck gonna use coups, black ops, drones, heli commandos, etc, as needed to make the entire planet safe for our freedoms.
He's correct that the US dollar's RC status will soon end, but it sure as shit won't be because of the treaty, er, non-treaty 'deal' with Iran.
EDITED TO ADD:
I find it interesting that when one enters "US and Iran news" into Google, all of the results use the noun 'deal' in describing this pending proposal / agreement / treaty /non-treaty. ALL of the results, for at least three pages.
Control languagae and you control the debate....the masses....the mind......
Allenby: Are you sure you haven't heard of the Sykes-Picot Treaty?
Lawrence: No. I can guess.
Allenby: Don't guess. Tell him.
Dryden: Well, now, Mr. Sykes is as English civil servant. Monsieur Picot is a French civil servant.Mr. Sykes and Monsieur Picot met, and they agreed that after the war France and England should share the Turkish Empire. Including Arabia.They signed an agreement, not a treaty, sir. An agreement to that effect.
And when you also control spelling? The world is your oyster!
To me, this is the biggest indicator yet that officials KNOW the end of the current financial system is right around the corner. The US government, through Kerry, is just positioning itself to say "We warned you!" when the shit gets real.
Thinking the same thing. It also serves as a useful scapegoat, to blame it on one single political "deal", rather than the totality of US imperialism and Fed money printing.
Kerry makes the point that US Imperialism has already ended. The rest of the world has decided to do business with Iran and continuing sanctions against Iran would mean also sanctioning all the nations who trade with Iran. He's telling us that the game is over and all that's left is to accept that the US is no longer the 800 pound gorilla or go down hard and fast in our obstinacy.
Kerry bin makin' this point since he was a serving Naval officer and was negotiating back channel in Paris with the North Vietnam gang. That was in the early '70s.
everything is a control mechanism and an illusion ! that is what goog does in alliance with the CIA and other control freaks !
Somewhat suprised no one has mentioned that thing in the video looks like a robot with puppet strings. Boston Dynamics has more human looking things.
Had to check that out for myself. If you go into adwords keyword planner tool this keyword has a low amount of searches. Low search means its easier to manipulate. Probably more to do with what people click on when they search the term, though. You could run ahrefs on each website listed on the first page to dig further.
While I eschew the statist paradigm, Kerry is absolutely correct in this case.
It's always slightly shocking when one of our owners actually tells the truth, isn't it?
Both the veracity and accuracy of the statement are surprising.
Great for no-bid-contract CEOs, their golf buddies, and anyone else otherwise supping at that gooberment trough, but how does it work out for Joe Main St?
There isn't enought gold for it to be a currency. WHY DON'T people understand this? This isn't the 1300s omfg. If FED currency was converted to a gold standard all of us would be completely anihilated. Your little peeezly couple Oz of gold would be gone in a month and that would be that. The rich boys would wipe us out so fast we'd be begging for Bernanke on our fucking hands and knees.
Gold is divisible down to individual atoms. Also, if Au is valued at around $100K/Toz, it could be used at the milligram level as currency.
Jackson, Persians too smart for that shitshow to take over their country. Their assholes no doubt, but never think the Persians are stupid. Their not Arabs after all...
Kerrie Was Born With Gray Hair, And Proudly Still Has It!!!
Why does he remind me of the failure(s) of our State Dept for the past decade ... or two?
Only a 2 - 3 % reduction of our wage's purchasing power a year and a compounding reduction of our savings per year? Great deal, mother fucker. But it's all for the cause of better jobs. Well ain't that peachy. Fuck better jobs, give me better money, the jobs thing will take care of itself. Wanker.
Okay, someone with a bit more of an iron stomach listen to Lurch to see what he means.
What I am looking for is exactly how these two are related.
pods
Not happening, listening to Ketchup-Boy causes brain damage.....
Standing up to the Zionist.
The dispute was always about the petrodollar, not nukes, so if you don't get that theres a secret
codicil to the agreement about oil sales in $,you are not paying attention.
He is saying that if Congress rejects the deal that the US would then be forced to sanction banks dealing with Iran, which would cause the rejection of the US dollar. Seems to me Kerry is looking for someone to blame the dollar collapse that is already baked into the cake.
And if the Iran deal is NOT rejected?
Doesn't matter, the US Dollar is going to lose it's reserve status, regardless.
The USD as it stands today is a Khazar international ZWO product and they'll pull the plug whenever it suits them.
Caitlyn and Kim will discuss these pressing issues tomorrow morning on the Howard Stern Show.
The whole idea that somehow the US is now concerned with jobs and trade after offshoring every fucking decent factory job with NAFTA and CAFTA is hillarious. Chirst, now they have the TPP and North American Trade Union in the works. I don't know what they are up to but it sure as hell isn't about helping the american worker.
The standard of living is about to wratchet down pretty significantly. Thats why the guy seemed gleeful. For some reason our misery is inversely proportional to these "smart" people and politicos pleasure.
Exactly.
Never believe anything until there an official denial,
and never expect something gov't-controlled to happen before our public officials release severe warnings about the dangers if others were to cause it...
Not Lurch, more like Herman Munster.
No. Herman had a fun personality.
Herman had a really funny, goofy laugh, too.
What I am looking for is exactly how these two are related.
China, France, Russia, the United Kingdom and Germany have agreed to the Iran deal. If the US opposes it and tries to maintain sanctions not only against Iran but also against China, France, Russia, the United Kingdom and Germany then dollar hegemony will end in a rapid and disorderly manner. It's fairly straightforward and an accurate assessment.
Talk about back room wheeling and dealing. If the deal get's shot down Uncle Scam will sanction the whole world unless they all change their minds? The divide seems to be right down party lines this will be interesting to watch. I bet it will be like the TPP voting non-sense.
All of them that were for it before they were against are now against but are also for it. No one will know who did what, or who bribed who, but it will pass with plenty of blame game management behind closed doors.
Can I have Hannah Davis instead...? Thanks.
He is a natural long......face.
THough I agree with the Iran deal, this is purely scaremongering.
assuming Kerry is correct that if the deal does not pass, we lose reserve status, well then who the Fuck is responsible for putting the US in this position in the first place during negotiations?
"There you have it. Straight from the horse's mouth."
Ha, that's the first thing I thought. Finally the bastards admit it, it's not about the Iranian nuclear boogie man but rather the lose of control through the petro dollar.
fuck you Kerry , the dollar is on barrow time anyways, and that's what the elite wants period
Just clarifying, is that a pun on wheels?
Gallows humor is my favourite kind.
So Ketchup Man can point to the fine print in this "deal" that says the ayatollahs promise
"to keep selling their oil in US dollar currency only for evah and evah?"
mebbe if it was so critical to American interests that Muslim men maintian all their oil dealing in US Dollars we shouldn't have been sending women secretaries of state out to do our negotiating with them for the last 15-20years?!!
something about perhaps why certian people and countries might think America is "arrogant"?
denying material reality for PC illusion is precisely how we wound up in this pickle.
the fine print in this "deal" that says the ayatollahs promise"to keep selling their oil in US dollar currency only for evah and evah?"
You've missed the point entirely. China, France, Russia, the United Kingdom and Germany will do business with Iran. If we sanction those nations then US dollar hegemony will end in a rapid and disorderly fashion.
You sure are giving a lot of weight in your formula to France,UK and Germany who are dealing with a shitstorm of their own doing. None of those 3 can fight the us dollar. What about the European defense shield and US bases supposedly protecting Europe from brown people? Just saying thats a big threat to the biggest power in the world. The US is still the baddest military on the planet with lots of deadly toys we likely never heard of and ran by madmen who love easy buttons.
You give the UK, France and Germany more weight than I did because I specifically cited a wider range of players including Russia and China.
But if you think that the US can sanction the rest of the world and that the world will still use the US dollar as a reserve currency then I don't know what to tell you other than that you are wrong.
Who has stepped up and is living to tell the story? The difference between the British as a superpower a long time ago and the USA as a superpower, is one has better toys that can annihilate a country in mere seconds. The US has sanctioned and will sanction the world until they can't. And when they can't you and me are likely going to die. They are madmen. You can not reason with that type of personality.
You can disagree and say I am wrong but expecting a country like the US to just lie down and relinquish power will not happen without a few billion casualties. Again I truly hope you are right and i am completely wrong.
Use our dollars or we nuke you?
That banana has been left out too long.
Apparently it is working rotten or not.
It only works in the movies.
https://www.youtube.com/watch?v=Z_JOGmXpe5I
So Ketchup Man can point to the fine print in this "deal" that says the ayatollahs promise
"to keep selling their oil in US dollar currency only for evah and evah?"
This was my take. I think Saudi Arabia has threatened to pull the petro dollar plug which is why all of a sudden we are seeing news stories about releasing the 28 pages of classified documents supposedly putting 9/11 on the backs of Saudi Arabia. I think the Iran deal is us hedging that and I think in the long run doing business with the shiites my be a little safer than doing business with the sunnis. We'd rather have a petro dollar with Iran than the Saudis.
If the status of the USD as reserve currency depends on the Iran deal then that doesn't say much about the dollar does it? Besides, it's already losing reserve status and has been for awhile now. At this point in time it's the shiniest turd in an ever expanding punchbowl.
Looks like now is the time to buy precious metals such as gold which may return to being the worlds reserve currency!
Buy Gold, Silver, Platinum and Palladium Bullion with Euro, Great British Pound, US Dollar and Bitcoin.
http://www.eurgold.eu
There it is. Kerry admits sanctions were a failure, that Iran was able to trade oil w/o the $. They now desperately need that money recycled within the $ plantation so they can, at least, pretend to let off the QE spigot. Also, maybe claw back some their hoarded gold.
"We might settle into a norm of 2 to 3 percent inflation, versus the current 1 to 2 percent."
Of course, counterfeiting is the name of the FED game. $18.25 Trillion X 3% = only $548 Billion issuance of new US debt. That equals 12.7 billion barrels of oil at $43/barrel or nearly 35 million barrels a day.
Iran only exports 1.1 million/day.
http://www.opec.org/opec_web/en/about_us/163.htm So, we can rest assured the rest will be counterfeited, as usual. About $530 billion. No problemo!
It's not just the dollars involved (or not involved) in Iranian oil sales. If the US continues sanctions against Iran and anyone who trades with Iran then the US will have to stop doing business with the UK, Germany, France, China and Russia because those nations have decided to trade with Iran.
That was Kerry's point and it is a valid and important one.
Then he has been totally outplayed by the Mullahs.
I'm sure a secret condition of the deal was oil sales in dollars.Once sanctions are lifted,
Iran will join the SCO as a full member, and give the US the finger on $ oil sales.I would,
after delivery of the S400's, and with Russian and Chinese nukes as the doomsday option.
A fait accompli the US would be powerless to counter.
Then he has been totally outplayed by the Mullahs.
As Kerry said, the pressure is coming from the other nations which want to trade with Iran and not Iran itself. The US has outplayed itself.
"A horse is a horse of course, of course..."
Warmonger..If a face could launch 1000 ships..or even dock them, this is it...
When this fool Kerry gets it, turn out the lights.... the PARDY is over.....
Looney:
I think your roles are a little off:
The Terrible, the Worse and the Ugly (as portrayed by Mr. Ed) might be more appropriate.
I'm a'wonderin' how this affects his second wife's first husband's portfolio. We know that it is huge into tax-free muni's. We know that there was no sales tax paid on their New Zealand built yacht. We also know that he can't ride a bicycle worth a shit. We know that he lies in his own diary, multiple times.
- Ned
Too Late
Won't bother me
There would likely be more freedom after great tribulation. Although the end result is laudable billions of individuals will be bothered and then some in the process.
Sorry, Billy, I don't buy the "more freedom" bit. Agree with the rest, though.
Quite literally, the One Trick Pony. Or Horse in his case.
Can't believe how much this guy just rambles on.. All he needs now is the drooling, like our Hero McSame. Members of the Senile Dementia Club.
Blackmail begins
Ummmmmmmm..........what?
It's gone. Yeah sorry it's gone.
Exactly! Thats what I said. Didn't make a fucking bit of sense to me. Implication of article is to boot fuck your currency, import inflation and eviscerate purchasing power. the converse is to steward currency, purchase productive assets on the cheap - start producing shit at home - create wealth and maintain reserve status.
I know this is rather simplified, but, ....
Am I wrong?
Didn't make a fucking bit of sense to me.
Kerry is saying that the US can't unilaterally sanction every other country in the world including our allies and survive economically. Why is that hard to understand?
because he's wrong. Strong dollar is akin to exporting inflation. beautiful thing. you can buy your imports cheaper, tool up, and produce for much less the cost because your cost of iving has been markedly reduced. Deflation is always a silver lining to a recession. In other words keep the curency strong and acquire goods and services AND CAPITAL for cheap. Start to rebuild manufacturing here at home with cheaper capital. its that easy.
If the US sanctions every other country in the world because they trade with Iran then the dollar will not be stronger. The dollar would be dumped internationally and all that currency would come home causing hyperinflation.
Not to mention the fact that if the US sanctions the rest of the world then they stop doing business with the world and imports and exports cease entirely.
right. agree. which is why kerry should STFU.
Yo, Pareto, u b 80% right on that!
Easy to understand, except for all the moron fuck tard around here. Notice 9/10 just reapeat the same, tired old horse jokes, over and over like 2 year olds.
At some point the US will have to back down on the russia sanctions too. It's causing too much of a back lash of ruble/yuan trading amongst the brics, and soon to include the europeans.
Tee Hee.
Nice try, horse face.
My dog gets excited whenever Kerry is on TV. He knows that once that leg breaks again, it wont be fixable and off to the Alpo factory he goes.
pods
Man I don't know, he looks more like a candidate for the glue factory to me. Not good glue, though. Post-it notes.
Everytime I see a pic of Kerry it reminds me of what someone on ZH once said that Kerry is a "haircut looking for a brain!" Makes me laugh everytime!!
.... one could easily make that crack about the Trumpster...
Just imagine how us Canucks feel. We got his cloned version who is much more of a nerd and arguably more annoying.
And he's Prime Minister.
If your status rests on the acceptance of a single (poorly thought out) deal, then you have already lost your status. Its over.
Now there you go thinking for yourself again.
"Put him on the list."
It's only beginning.
We need someone to blame for the dollar's loss of reserve status--especially considering the catastrophic adjustments coming behind it.
Nice of him to cover for Yellen. The fun part will be seeing how many other things they'll blame before it's all done.
"Vote for Trump, and the dollar shall dump!"
Glad they didn't just blame our old friend "Global Warming".
So blame the neocunts -- brilliant!!
Wish I'd thought of it.
So now we know the hidden part of the deal.
"Deal or the dollar gets it."
Okay so I watched the clip.
'We have succesfully surrounded ourselves in a box canyon with no way out and the armies of the world ready to kill us. Take the deal or we'll kill ourselves.'
Take the deal or we'll kill ourselves.
Yeah. We will kill ourselves by Global Thermonuclear War.
The USA is no better than any Suicide Bomber over in the Middle East. In fact because of the Scale of Economies we will be far more destructive...to our own demise, as well as all of those armies looking over us in our own El Cajon ( the Box Canyon).
What's with this administration's fascination with purple ties?
Black people like the color purple.
So Grape Drank will become the official beverage of the USSA.
Fuck Yeah!
Official color of the one party.
Probably yet another fetishization of the Roman empire by these kkunts. Only the elite in government were allowed to wear purple.
It matches his pink bicycle.
I knew we should have moved to New Zealand.
not quite the same impact as hankie "tanks in the streets" paulson