China’s capacity to build and manufacture is as great as what made the United States the center of the world.
The United States has been gutted from the inside by our monetary and political system.
The only chance we have is to end the dollar as the global reserve currency. People think this would be bad, to the contrary is has destroyed our country and ending it and our central bank are there only way we bring it back.
Dollar acts as reserve currency cuz most countries has trade surplus with US .. and instead of converting their dollar surplus to their own currency , they save for yeild on T bills ..
I mean dollar is not an OFFICIAL reserve currency.. wherever countries have massive trade among each other , they retain each other currency as well ..
Why should US let this advantage go ?
They won’t voluntarily. It will slowly happen over decades
It's already happening, it's just very slow.
What advantage? The ability to print money for the elites' financial bubble? The benefits seem negligible for your average American
Advantage - US has world's largest financial markets ... Just like the freeways , the pace at which US system distributes wealth and moves from one asset to another is beyond normal perception ! This pace not only control the direction of innovation , but also political future of world ... Americans vote with money ..
As regards to printing - China has printed almost three times of US ( in USD value ) .. So .
It would be very hard to argue that it has not been great for innovation. I think it has come with tremendous and compounding costs to other parts of society though. The average citizen is worse off every year, the incredible concentration of wealth and power in Washington has no doubt been a source of stunning corruption, and the obsessive need to police the rest of the world to keep this system in place has caused alot of harm to diplomatic relations with the rest of the world
I don’t see how having the reserve currency has logically contributed to innovation actually. It would make way more sense that the foundation of culture, independence, and entrepreneurship that were established during America’s rise simply haven’t been fully rotted away by the fiat system. By being partially intact as technological progress continues to compound, and while we are able to import skilled workers, we still achieve enormous amounts of innovation and progress.
I guess in listing it out we can say that it may have contributed to our ability to import talent, but this was also a massive element for much of this country’s history, freedom has always been highly desirable. I doubt that net different with the reserve currency is on the direction of more talent either. To the contrary, fiat has allowed the establishment of the welfare and any state, which may very well mean the quality and ratio of imported talent has decreased broadly. The saving grace may simply be that with technological progress and a more connected economy, fewer great minds and innovations can still have a much larger and quicker impact on the entire ecosystem.
There are lots of opposing forces at play, but I can’t find a strong reason to attribute much of anything positive to the fiat system.
As far as corruption - having lived in India , Europe and US - I can vouch US is lowest corruption .. The one that you see in terms of USAID etc .. is a tiny misicule .. totally agree with nostr:nprofile1qqstnem9g6aqv3tw6vqaneftcj06frns56lj9q470gdww228vysz8hqpzdmhxue69uhkzmr8duh82arcduhx7mn9qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxgqgdwaehxw309ahx7uewd3hkcam28zl point in note below - it is largely because the character of people and institutions built over time .. But here is my difference with Guy
The biggest institutions built in US is independence of FED. And the the financial rails ..
Why do I say that :
Experience : Try investing money in India or China .. even Europe's local markets .. First of all foreigners cant even trade in most parts .. then the rules are so arcane that you would beat yourself ... And finally the tools .. Platforms like Vanguard , iShare , Schwaab .. and now totally free Bitcoin market space - It allows movement of Trillions of dollars in a single day ... In most countries , if there is a flow of a billion dollar ( not ten billion) , their markets would simply choke ..
And most imprtantly - Finacial Awareness ... You can't impart Financial education overnight ... It is interwoven in culture .
I think US would come out lot stronger as the dust settles in Trade war .. meanwhile exercise your choice in BTC and Gold ..
I mean China certainly has its problems and is on a miserable debt path just like the US, but the fact that they can manufacture 100x as much as we can, even taking out the great many other structural problems they have and lack of freedoms, is a hard thing to simply hand wave away.
Bottom line : if you want to sleep well :-)
30 :30 :30 :: BTC : GLD : VTI
This is a pipe dream over the next decade. The best chance we have is to use tariff to try to reset trade agreements and dynamics. It’s not without downsides, but it’s actionable at leastZ
From what I understand, China doesn't have the capacity to innovate only copy. What are they going to manufacture over the next 10-15 years if the US and partners don't have their goods made in China? They will get left behind with their empty plants and shiny yellow rocks.
Nailed it .. China has diluted their currency twice as much as dollar .. to much solution always creates wealth gap .. rich become ultrarich and government is forced to install social programs to help poor .. middle class is wiped out ..
China will collapse under its own social programs .. entitlements kill innovation
And don't forget they've made this fatal error before. When the West went to the gold standard in the 1870s, China had been stockpiling silver and silver mining capacity. After the shift, silver got devalued by 30%, and it destroyed China for 100 years. Set them up for the Maoist takeover, in fact. This time the Communists will make the same error with tariff wars and gold as the world shift to bitcoin, and it will destroy them again.
I don't think they will pivot on gold .. cuz US holds ten times in reserve .. unless they really wanna help Ummeica :-)
Look up research papers, their authors and come back to us with your opinion of China's innovation potential
throw out some examples. I'm all ears.
https://ncses.nsf.gov/pubs/nsb20206/publication-output-by-region-country-or-economy
Start here and then just branch off into any desired area to leave the matrix.
Empowering a communist one party state by allowing their upper classes to exploit their own people , build their industrial capacity and international footprint was a disastrous geopolitical blunder decades in the making. We now have documented evidence that even before they joined the WTO the CCP was planning on NOT following the rules and never intended to reform and become democratic. Communism with Chinese values turned out to be a lot like classical communism seen all over the world. After decades since the 1940s of widespread mismanagement that cost the lives of tens of millions of people and violated the rights and oppressed hundreds of millions. the Chinese people were the ones who started to lift themselves out of poverty and misery. Mao ironically greatly reduced the power and influence of the CCP(specially in the countryside) over the population after the massive purges and famines under his regime. It’s a great myth that the CCP can claim any credit for the Chinese miracle. The extend to which they have helped is the extent to which they have stepped back. Still the corruption and oppression of the Chinese people is beyond comprehension and on a scale the world has never seen. The great technological developments of our age have done a great deal to mask the relative disaster China is. As late as 1999 China was 130th in the world in GDP per capita. Lower than they were a decade prior. It was only after Bill Clinton then Bush supported China’s entrance to the WTO, with the delusional expectation that this would make china more democratic and free, that they saw a great GDP expansion. This of course mostly benefited the corrupt elites. After joining they promptly used their own people as slaves, manipulated the currency and capital markets, lied, cheated and stole technologies and IP and dumped cheap goods on the world. It’s true that they have made capital improvements in the country but those pale in comparison to what could’ve been under a free market. China doesn’t have real markets, the justice system is a joke and their ruling party periodic purges itself from dissenting factions as all communists have. It’s an han-ethno supremacist state that oppresses many other languages and cultures within the country. It’s simply an unacceptable state of global affairs. China has proved itself not willing or ready to join the world stage as a modern nation.
It really is difficult to not be angry at the sheer volume of stupidity, arrogance, and greed that has brought the world to this state.
Won't happen.
Bitcoin will now help keep the current power structure in place rather than dismantling it.
America will NEVER stop playing world police.
People don't use cash for transactions over $25.
They are going to change the money and normies won't have a clue, or a chance.
How would you say it lets them stay entrenched, or maybe further exacerbates the problem? I just can't see any way in which it doesn't make things harder to float on top with financial mumbo jumbo
Yeah the fiat overlords will naturally be able to use their position to acquire assloads of bitcoin in the short and medium term. But the nature of bitcoin is such that it does not fit with rent seeking behaviour.. they will bleed and lose their fortune over time. This is a huge change from the current system in which the more you have, the easier it is to stay on top.
NAFTA was the giant sucking sound. Chins in WTO was like a funeral for the USA.
💯!! Couldn’t agree more!! Being the world reserve currency is a curse!! China knows it and has no desire to take on that role!
Major part of the problem, but not the main one.
It actually began in the 1860s, when your so called "country" was litigated through a colossal mass murder to be a Roach Motel - no State of the "United" can leave alive, even by so called "democratic" voting.đź’©đź‘Ž
The #Quash: #Lincoln DESTROYED the #constitution. Period.
The USA will suffer now for all of the suffering it caused over a lot of countries in the past.
It will end divided, poor, with a retarded population, unorganized.
No. Bitcoin is not going to save "America" (I mean the country not the continent). But it's gonna save us.
China being able to manufacure the most cost competative products is the result of plebs willing to work their ass off like 70 hrs a week to earn & save as much as fiat as possible, thus making it a comparatively low entropy system. Regardless of the heavy censorship and every shitty things MSM like to show western people, they don't have much complain on the government.
Some may wonder are Chinese people too brainwashed or what the hell?
if you are smart enough you may consider dropping that CCP-everything mindset because it's stupid and it's like a Chinese relating everything to slavery on western topics. Plebs today are more appreciating the unimaginable improvements that happened to their lives throughout the only 4 decades of industrialization. And that's it.
Can you imagin when I was a kid before 2000, we were still using oil lamps because there was no electricity in my village and now I'm sitting at somewhere 9000 km away from my hometown typing this reply in English?
