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We are on the Verge of Economic Catastrophe

At present most of the world's global reserves are denominated in dollars, and three times as much compared with euros. 81% of trade finance is denominated in dollars Trade between non-dollar countries is often denominated in dollars.
Sure. Because at present, the dollar is the world reserve currency.

If the world switched to using the euro instead, the proportions would change rapidly.

Restating the current position is not a valid argument against change.
 
New York is by far the world's greatest financial center. London is #2 but not even a euro country.
Which was a MASSIVE mistake on the part of the UK.

If the UK were still in the EU, and were to have transitioned to the euro, this whole thing would be a no-brainer.

But a bunch of brain-dead racists decided to take advantage of David Cameron's attempt to resolve an internal dispute in his political party, and used it to fuck the entire nation over for at least the next century or two.

Europe could and should be in a position to take over from an increasingly incompetent USA. But they too lack the ability to defend themselves against neo-fascist populist morons. At least they stepped back from putting one in charge.
 
The Euro lacks the rigid central control of the Dollar: a renegade European country can create Euro money with its own banking system, something a U.S. state cannot do.
That's not really true. I mean, they could, but it would be massively unlawful for them to try. So a renegade European country could create Euro money, in the same way that I could get rich by robbing people.

It's not something that is likely, and if it happened, the consequences would be swift and painful.
 
But a bunch of brain-dead racists decided to take advantage of David Cameron's attempt to resolve an internal dispute in his political party, and used it to fuck the entire nation over for at least the next century or two.
As if current guys are not brain-dead and racists.
 
But a bunch of brain-dead racists decided to take advantage of David Cameron's attempt to resolve an internal dispute in his political party, and used it to fuck the entire nation over for at least the next century or two.
As if current guys are not brain-dead and racists.
The brain-dead racists to whom I was referring are the 'Leave' voters, most of whom are still current.
 
But a bunch of brain-dead racists decided to take advantage of David Cameron's attempt to resolve an internal dispute in his political party, and used it to fuck the entire nation over for at least the next century or two.
As if current guys are not brain-dead and racists.
The brain-dead racists to whom I was referring are the 'Leave' voters, most of whom are still current.
It's a democracy, right? UK government reflects electorate.
 
NVDA earnings showing almost no impact from tariff disruptions. They are stronger than ever. Inflation reports showing no impact from tariffs. We could be entering a scenario where the economy booms, Trump becomes more popular than ever, and we solidify the Fourth Reich. I would've thought the tariffs would've done something, but no. Strange times.
 
NVDA earnings showing almost no impact from tariff disruptions. They are stronger than ever. Inflation reports showing no impact from tariffs. We could be entering a scenario where the economy booms, Trump becomes more popular than ever, and we solidify the Fourth Reich. I would've thought the tariffs would've done something, but no. Strange times.
Jensen is a canny, careful negotiator.
 
NVDA earnings showing almost no impact from tariff disruptions. They are stronger than ever. Inflation reports showing no impact from tariffs. We could be entering a scenario where the economy booms, Trump becomes more popular than ever, and we solidify the Fourth Reich. I would've thought the tariffs would've done something, but no. Strange times.
I don't think much of his tariffs are actually in effect. Further, I wonder if the market is being propped up by retail investors. Last I heard, institutional investors were decreasing their exposure since early in the year. Though I do not know of anyplace to get any current data on this.
 
Last I heard, institutional investors were decreasing their exposure since early in the year.
Investment will continue, just not in the sectors that are the most inherently volatile and highly exposed to tariff disruption. But even “retail” investors like me (if I even qualify as that) have largely bailed out of the equities markets. This, if for no other reason than a deep-seated antipathy toward placing themselves or their financial well-being in the hands of a low-IQ narcissistic dementia patient.
 

Song by
Ten Years After

Everywhere is freaks and hairies
Dykes and fairies, tell me where is sanity?

Tax the rich, feed the poor
'Til there are no rich no more

I'd love to change the world
But I don't know what to do
So I'll leave it up to you

Population keeps on breeding
Nation bleeding, still more feeding economy

Life is funny, skies are sunny
Bees make honey, who needs money? Monopoly

I'd love to change the world
But I don't know what to do
So I'll leave it up to you

Oh, yeah

World pollution, there's no solution
Institution, electrocution
Just black or white, rich or poor
Them and us, stop the war

I'd love to change the world
But I don't know what to do
So I'll leave it up to you
 
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