Tens of billions of dollars are being smuggled out through the unsecured US borders every year. This money is deemed dishonest, because it is earned through drug and human trafficking and other illegal activities. The dirty dollars travel to offshore havens and third world countries where it is deposited in banks that do not care if the money is honest or dishonest. The dirty money is laundered clean and enters the world economy.
Americans agreed to send the law enforcement after the money obtained through illegal activities the social agreement deems this money to be dishonest. At the same time the US dollar generally is deemed to be honest money through the same mechanism of social agreement, despite the fact that it is money created out of nothing. Governments can persuade vast populations to attribute value to an object paper with pictures on it, shiny metal or digits encoded on a plastic card.
I can hear the screams of those who worship the gold. Sorry, the gold is just as absurd choice of currency as any other. Unfortunately bartering is very inconvenient so people invented the system that codified the value of things in currency units to mediate the process. The ability to issue legal tenders acceptable on vast territories among many people seems to go together with big military strength of the government, some stable system of laws or rules to legitimize the activity and social agreement to accept these rules.
The reign of the US dollar as the world dominating currency meets these criteria at least until recently. WWII victory crowned by two nuclear bomb explosions combined with Constitution that has lasted over two hundred years gave the USA the advantage to use the dollar as currency not only at home but abroad. Today two thirds of the world currency reserve is in US dollars.
In its core the US dollar is as counterfeit as the paper printed in some basement by a criminal the only difference is that the US government passed the laws that allow the US dollar to be laundered through the Federal Reserve System and the US economy (and the taxation system) as a 'front business' and folks at home and around the world didn't mind.
The global debt crisis that is rocking the planet for couple of years now has the potential to bring down the trust,We processes for both low-risk and hypodermic needle cannula. the social contract behind the US dollar.
If somebody is living expensive lifestyle, throwing loads of money in the crowd, riding fancy cars (or jets) at the time when the business of that person is not performing well for years, there is reasonable suspicion something fraudulent is going on. When the US government is bailing out the world banks, financing quarter of the UN, fifth of the IMF and three quarters of the NATO budget while being $14.5 trillion in debt in the middle of a non-performing national economy, questions come up about the honesty of the money involved.
It would have been easier to close our eyes and let the US dollar just be (fiat Latin for 'So be it'), if there wasn't competition for the privilege to create the world's money. The IMF elite appear ready to take over the global money Laundromat. They already got the SDRs rolling. China and Russia also feel good about their own currencies and dream to put them in a global basket of funny money.
No US government in its right mind would give away the privilege of the US dollar to perform as the world currency. It was secured with blood in the American Civil War that kept the Union together and the world wars after that. Making the economy going strong again is not just a goal in Barack Obama's re-election strategy it is a matter of avoiding collapse of the US dollar. Every pessimistic outlook report that the economists put on President's desk creates new string of grey hair on his head.
I wish to believe that President Obama is not working actively to transfer the privilege of creating the world money to the IMF. I hope he understands that the academia talk about the dilemma between running domestic deficits and supplying the world with dollars is just a theory… like the global warming.
Americans agreed to send the law enforcement after the money obtained through illegal activities the social agreement deems this money to be dishonest. At the same time the US dollar generally is deemed to be honest money through the same mechanism of social agreement, despite the fact that it is money created out of nothing. Governments can persuade vast populations to attribute value to an object paper with pictures on it, shiny metal or digits encoded on a plastic card.
I can hear the screams of those who worship the gold. Sorry, the gold is just as absurd choice of currency as any other. Unfortunately bartering is very inconvenient so people invented the system that codified the value of things in currency units to mediate the process. The ability to issue legal tenders acceptable on vast territories among many people seems to go together with big military strength of the government, some stable system of laws or rules to legitimize the activity and social agreement to accept these rules.
The reign of the US dollar as the world dominating currency meets these criteria at least until recently. WWII victory crowned by two nuclear bomb explosions combined with Constitution that has lasted over two hundred years gave the USA the advantage to use the dollar as currency not only at home but abroad. Today two thirds of the world currency reserve is in US dollars.
In its core the US dollar is as counterfeit as the paper printed in some basement by a criminal the only difference is that the US government passed the laws that allow the US dollar to be laundered through the Federal Reserve System and the US economy (and the taxation system) as a 'front business' and folks at home and around the world didn't mind.
The global debt crisis that is rocking the planet for couple of years now has the potential to bring down the trust,We processes for both low-risk and hypodermic needle cannula. the social contract behind the US dollar.
If somebody is living expensive lifestyle, throwing loads of money in the crowd, riding fancy cars (or jets) at the time when the business of that person is not performing well for years, there is reasonable suspicion something fraudulent is going on. When the US government is bailing out the world banks, financing quarter of the UN, fifth of the IMF and three quarters of the NATO budget while being $14.5 trillion in debt in the middle of a non-performing national economy, questions come up about the honesty of the money involved.
It would have been easier to close our eyes and let the US dollar just be (fiat Latin for 'So be it'), if there wasn't competition for the privilege to create the world's money. The IMF elite appear ready to take over the global money Laundromat. They already got the SDRs rolling. China and Russia also feel good about their own currencies and dream to put them in a global basket of funny money.
No US government in its right mind would give away the privilege of the US dollar to perform as the world currency. It was secured with blood in the American Civil War that kept the Union together and the world wars after that. Making the economy going strong again is not just a goal in Barack Obama's re-election strategy it is a matter of avoiding collapse of the US dollar. Every pessimistic outlook report that the economists put on President's desk creates new string of grey hair on his head.
I wish to believe that President Obama is not working actively to transfer the privilege of creating the world money to the IMF. I hope he understands that the academia talk about the dilemma between running domestic deficits and supplying the world with dollars is just a theory… like the global warming.
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