Replying to Avatar asahi

Frightening….
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tanel 2y ago

Uhm, ELI5 please?

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CensorThis 2y ago

Fiat is worth much less today than 3 years ago

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tanel 2y ago

Thanks bud, not the best when it comes to the English vocab regarding Econ

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CensorThis 2y ago

It’s actually worse than I explained. The fiat system (US) is essentially in a death spiral where their expenditures on debt alone are close to a trillion dollars per year. Ouch

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Cameri🐦‍🔥 2y ago

US Gov is bankrupt. It can only continue getting more in debt and devaluing the dollar at dollar holder’s (and pegged currencies) expense.

Pegged currencies have no choice but to devalue their currency to maintain their assigned peg to the dollar.

US Gov forces other countries to peg their currency on a rate favorable to them.