Comment by wesapien
15 days ago
The US has a very high standard of living as a whole. In order for it to compete with others, it must become "as poor" as others. You simply can't undermine your trading partners and not disrupt your privilege as the global reserve status.
Why is “global reserve status” more important than building stuff?
Instead of barter, everyone in the world buys and holds YOUR money so that they can trade with others. Everyone else's trade = trade deficit = free money (because you are basically selling your dollars, not a product) that you can spend on stuff.
You are too smart to actually not get this. You call it fake as if money isn't just made up 100% fake 'value units' we all agree to pretend (thus making it real) is real.
It's only one of the key levers of power of the USA. No biggie. You give people money represented by paper but mostly bits/bytes in exchange for other peoples materials and labor. Can you unpack what kind of stuff you're talking about? Are we talking about nascent industries? This stuff, who are you going to sell it to ?
Doesn’t that seem fake to you? To me it sounds like a scam that’s destined to collapse in spectacular fashion.
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