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Joined 5 months ago
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Cake day: November 23rd, 2024

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  • The world does not trade in US dollars, thats a myth. If a Japanese company buys something in Australia, they convert from yen to AUD, they don’t go through the USD. Thats not what “reserve currency” means.

    There used to be a thing called the Gold Standard. The amount of gold you had in reserve was linked to the amount of money you could print. The gold standard failed because it was too restrictive.

    After WW2, the US proposed that instead of a lump of metal, money creation would be tied to the national economy. The US economy would be the “gold reserve” of the world and all the other currencies woudl be compared to it. The goal was to reduce the amount of foreigners using USD, as this was causing American notes to leak overseas and made inflation difficult to determine.

    The Euro is used over a range of economies that are only loosely tied together. Although crude monetary policy like interest rates are common, tax collection is up to individual countries, so the Euro is not a stable value as there are too many variables.












  • They said it was to be determined by a lower court. It was sent back to a lower court and Trump was convicted. But the judge ruled that no penalty should be applied because of the SCOTUS ruling on presidential immmunity and it was up to the DOJ to prosecute. The DOJ is under direct presidential control and by then Trump was in power.

    SCOTUS could have prosecuted Trump directly, but as always, they deliberately slow walked it so the case would disappear. Which is exactly what they are going to do with all the current cases.