6 ms·
Let me just elaborate that a country like the US that artificially floats it's own currency as the global base currency will of course piss away its wealth and
by jeetoid 2y ago
Let me just elaborate that a country like the US that artificially floats it's own currency as the global base currency will of course piss away its wealth and through bypassing the natural corrective mechanism [0] will have no way to reverse course.
[0]: lost wealth (typically gold reserves) -> a weaker currency -> global economic incentive to begin exporting valuable goods and begin steadily recouping the lost wealth