The Dollar: Dive or survive?

Leo Panitch on the U.S. dollar's place in the global economy

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[BigPreme74]

To think that the US dollar can't be replaced is silly. As far as why the dollar is now the reserve currency he is wrong again. It is the reserve currency because at the time Europe was in shambles as a result of WWII and America wasn't, no other reason.

[takforalt]

This guy smiles too much---beware.

He cleverly made a straw man argument saying no other currency can replace the dollar as the world's reserve currency,. as someone else said below. The idea is to replace the dollar with a BASKET of currencies or SDRs with some gold, I may add.

Does this guy not see that we are headed off a freaking cliff? I just don't buy that this guy is that stupid.

[reel1840]

give me another dollar idea.just searved in economy.(illuminati)

[TheDano1947]

Ookayee What about the Amero? I suppose it's just a hoax rieeght?



[JP2times2007]

@DrakeIcn the problem with decoupling from the USD is that as soon as countries start to sell off USD and start using other ones currency, the USD price drops to the point where the US is the most efficient exporter. This is the paradox of export-oriented economies: if they are too successful, their currency value goes up and their export are too expensive. Can you imagine if China's low skilled goods soared in price? Or if German goods got too expensive? No one else wants to be world money.

[DrakeIcn]

I thought these guys were supposed to understand math, but he is disregarding the fact that the american dollar is using FRB with heavy debts attached, meaning mathematically that soon the world debt to a few bankers (who produce nothing and accomplish nothing,) will be near infinite high, which also means the interest that must be payed will also be near infinite high, which will drain society of all money (and no, printing new money will not work forever). Which will crash the global economy.

[allgoo19]

jadam914: "So you are telling me that.."

I was responding to your comment that Keynesian economics(regulation & high tax to the riches) was the cause of market crash. Regulation means Glass & Steagall Act to be precise.

How about you show me the same way I did, what regulation and when caused the economic down turn, on the time line by years or decades?

By the way, Austrian economics doesn't have support from academic society, I heard from another Austrian supporter, is it correct?

[xieuling]

Well, in fact, US dollar IS NOT THE STANDARD reserve curency since the June-September quarter 2009, it has not been by far the most acquired one, and nobody foresee it is going to be any longer. Pity you guys did not know it before this interview. To avoid your embarrasment, guys, USD is still one reserve currency among others and hopefully it will be for many years ahead.

[jadam914]

So you are telling me that The Federal Reserve had nothing to do with devaluing our money by over 80%? And sure things went well after the war that's when we were the greatest lender nation in the world and the dollar became the world standard. Tax cuts may or may not have started in the 60s but spending did not stop. That's when they raided Social Security trust fund. Maybe you should learn what has really happened in history or take an honest course in basic economics you really need it!

[allgoo19]

enslavetherich: "In the last months the European markets have been outperforming the US if I heard it correctly..."

When the market is active, most investors see the opportunity.

Last thing they want to see is the market going dead slow. Then there's a reason for Schiff to change his career.

Real reason, he doesn't have as much as money he once had. He no longer has top confidence in risky investment even though he still probably is better than average investors.

[allgoo19]

jaadam914: "We got here by Keynesian style market distortion..."

Deregulation had started since 1970's. Tax cut started in 1960's. Which was pretty much the end of FDR policy. Since then, both factors progressed. Economy was at its peak since the end of war till then(40's, 50's, 60's).

Now tell me, which part of Keynesian economics caused the market crash?

[martinvaxjo]

I personally decide to stay away from the dollar in theese times. Storing other things can probably be wiser.