Pandemic proves there is only one world reserve currency | Counting the Cost
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- Опубліковано 1 сер 2024
- Rich nations have spent more than $9 trillion so far on tackling the economic fallout from COVID-19. And more spending is on the way as governments try to ensure there is a functioning economy post the pandemic.
The damage done is likely to surpass the financial crisis and maybe even the Great Depression.
It is the worst economic crisis in the last 70 years.
Now investors are rushing to safety. The 11-year bull run in US stock markets is over. And there is one safe haven everyone is banking on and it is not gold. It is the dollar. For all the talk that the dollar would lose its reserve currency status, it proved to be just that, talk.
Emerging markets have borne the brunt of the rush for dollars. Indonesia's rupiah lost almost 14 percent of its value since the beginning of the year. The Russian rouble and Mexican peso have lost a fifth of their value.
The problem for emerging markets is that they may want to cut interest rates to stimulate economies hit by the coronavirus, but that would undermine their currencies further. And interest payments on dollar-denominated debts has just soared, unbalancing finances.
The sterling fell more than 10 percent, a level last seen in 1985. The United Kingdom's divorce from the European Union has broken the resilience of the pound, which was considered to be tethered to the fortunes of the continent.
The best performing currency just happens to be the Argentine peso - best performing in the sense that it has fallen the least compared with other Latin American nations. The fact that it has introduced capital controls, limits to money flowing out of the country to tackle an economic crisis, has certainly helped.
The dollar has been the world's leading currency for more than a century. Today, more than 60 percent of all foreign bank reserves and 40 percent of all debt is held in US dollars.
Jameel Ahmad, the global head of currency strategy and market research at FXTM, tells Al Jazeera: "The dollar not only remains the king. If this was a game of thrones, the dollar is on the dying throne, it has been on the dying throne for an extremely long time, it dominates all of the seven kingdoms under it and this has been something that has been in play for close to a century now, since war times."
He adds: "And we are still 20-30 years away from anybody being able to say that they could challenge the dollar."
What went wrong at India's Yes Bank?
Even before the coronavirus pandemic, India's financial institutions were causing concern because of their large debts.
Yes Bank, the fourth-largest lender in India, was taken over by the government this month. That is the third rescue this year.
Darren Aw, Asia economist at Capital Economics, explains that Yes Bank has faced corporate governance issues, including risky lending practices that led to a buildup of nonperforming loans and a deterioration of the bank's position.
"India's banking sector has its share of problems and I don't think an issue like this would be easily eliminated," Aw says.
How will the pandemic reshape the travel industry?
The travel and tourism industry accounted for more than 10 percent of the global economy in 2018, creating 319 million jobs globally.
The industry was the first to face the brunt of the pandemic as travellers cancelled their bookings. The aviation industry is expected to lose more than $250bn in revenue this year, as airlines are forced to ground aircraft.
Avi Meir, chief executive of travel management startup TravelPerk, said many players in the airline industry "are looking at a total cancellation of most routes now".
Meir adds that many companies and suppliers have to change their business model or depend on a bailout.
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Imagine owing a bunch of people a whole lot of money, but telling them, "Sorry, I can't pay you back now, but check out this awesome missile launcher I bought!"
J M
On the contrary, if you were the US, you can just write a promissory note, aka TBills.
"Sorry, I can't pay you back now, but check out this awesome missile launcher I bought!"
That's straight up gangsta.
Rockefeller: missile what? Checkout our digital money.
US government: ........
*Happy ending*
The global order is run by maybe a dozen ultra rich billionaires.
Poverty is rampant and now the middle and working classes are extremely scared about losing their jobs to be chucked in to the poverty pool.
Recession is imminent and the only saving grace from COVID 19 is the atmosphere is starting to clear up and just show how much damage we have been doing to this lovely planet of ours.
Here's one for you, the scam is that the people forgot they were letting someone consolidate a huge pile of wealth before sacking their offices and redistributing it to the people. Its called stimulus package! The dollar becomes even stronger because now there are 230 million banks.
Russtafa bill gates believes that this world can only support 500,000.00. We have 7 billion. He’s said to news conferences that through planned parenting and vaccinations we can reduce our world population to a sustainable level. Vaccinations WTF
World wide poverty has never been lower! You have no idea what you are saying...just negative!!!
@@jasondonnelly3227 please explain how vaccines reduce the population!!!
Vincent Conti Totally wrong go get a passport
In Chinese and Vietnamese languages, they call US Dollars: American Gold.
And in America, they call Dongs, dicks.
And in Canada we call our mothers.
Aljazeera really love USA dollars, that is why it can survive for so long.
Helo Kitty every country love US dollars
I thought the most expensive currency was oil. I would prefer gold but still dollar is overated. It's bound to collapse. It's like USA is making money out of thin air these days.
Try and buy physical gold or silver with the US dollars. You will not be able to because physical PM are different from the contracts one on the spot market. The spot market for precious metals is a big fraud.
Yes, we do. Don’t take dollars, get ready to be lashed
So is every other country.
You understand like every Nations Banks or the Nations themselves back their Currency with dollars right? If the Dollar Collaspes it's a World Wide Collaspe, and no one is buying into that. You have to understand we have to go Trillions and Trillions in Debt literally printing money and giving it to US Businesses and People to keep the Global Market Going, and we'll Print Trillions more as loans to other countries, accept everyone's currency is losing serious Ground on the Dollar, so somehow inflation won't Destroy US like in other situations. It works right now to print money because everyone one wants US dollars to prop their Countries up, so it's acceptable. Now let's say we just randomly did it last year, for zero reason, while the dollar isn't sky rocketing above other currencies, inflation would kill US. We have to print money to make sure the dollar doesn't become unreachable, it's literally the only way...
Oil is bought by the Barrel, and is almost only bought with the US Dollar, sometimes referred to as the Petro Dollar. Gold is depressed in value because the Dollar replaced it. Now Gold is a safe heaven when currencies fall. Like when Gold goes up, it's really because your Currency went down more than gold went up due to demand...
Dollar has passed the test of times for 100 years and that is why it is trusted by all countries. Whenever there is a crisis of any kind all the investors rush to USA and feel their money is safe there. like all equity markets dollar is traded and because of the trust it always stays on top. Since there is no other currency to challenge, dollar is likely going to stay on top for another 100 years at least. long live USA, I bow to mighty dollar.
Well said.
How comes a country which has the highest debt in the world still has the strongest dollar, that beats me.
History. It's hard to radically change a system that's been here for 70 years overnight. Even if the system was dying. Also, with the US printing money like mad, they would need imports to control inflation, so other countries will maintain that system to provide some type of economic shield from chaos.
I'm not an expert, and this is just based on what I hear on countless vides and podcasts, so just take this comment with a grain of salt.
Because USA reserve is 40 trillion dollars.
Lots of guns
Because you have no idea how Economic works!
The wealth of the U.S.A. is 3x more than it's debt. Debt is measured in retrospect to income the USA has by far the largest income therefore debt Can be higher.
It's no surprise why the US Dollar remains dominant- the 1974 Petro Dollar deal allowed the US to retain its global currency control by tying its currency to oil thus forcing other nations to stockpile dollars.
Who would invest their life savings in CHINA or RUSSIA ? I rest my case !
Except we ran out of nations to force into this. A reckoning is coming.
@@brookiebob true, as seen by this weeks sanction on Russia, more countries will refuse to accept having such a massive US shaped vulnerability
Indonesia had just posted the biggest trade surplus since 2010 on February last month due to Corona virus. With the downfall of oil price and demand shortage of made in China products it's makes Indonesia trade balance healthier although the growth rate of gdp has to be compensated.
Why USD is strong during crisis? Why is it a safe haven? Military power. Even gold can be seized.
As an American, I can say the US military is pathetic. To be fair, the root problem isn't the military itself. The US military is controlled by the civil government. Congress and the executive branch control the military, and are totally inept.
The US has not won a war since 1945. Every failure since has been a political failure, not a military failure. The US government is so disfunctional at the moment, that the military cannot perform even it's most basic functions. This is in spite of being the most well funded military in the world. The levels of incompetence we're talking about is as astronomical as the federal debt.
Supply shortage forces it up.
@@UPdan There are huge supply because US had been printing money for decades. Demand is too high during crisis because of hoarding. Just like panicking people hoarding toilet paper now.
Rolf Mützelburg you are stupid. US can destroy the whole world with its arsenal
@@ednan9 You missed my point. It does not matter how powerful the US military is, if the government refuses to use the military or orders the military to stand down every time they are called to action. The military is not allowed to use nuclear weapons, even against opponents with no nuclear deterrent. They are not allowed to deploy tanks or heavy weapons because they are seen as too expensive to operate. This is in spite of our massive budget, little of which ever reaches the soldiers. Instead the money is spent on spy programs and hi-tech equipment the soldiers are not allowed to use, such as the F35.
The US could be a major military power, but the US government constantly gets in the way.
Keep printing and we will plunge into hyperinflation.
Mr Doe you guys have been saying that for the last 30 years and I’m still waiting. 😉
Nice hot take airhead. Hyperinflation won’t happen to the US because the USD is the world’s reserve currency. Everyone wants to own American dollars
Ed
Nice empty statement.
@Youtuve Youtuve dumb foreigners who know nothing about how our economy works
Hyperinflation of the dollar is only really possible if oil demand stays this low and the US's money printing stays as high as it is
Gold is honest money & will always survive in the long term. Keep a percentage of savings in physical gold bullion (not jewellery) & you not regret!!
Yes, god is definitely money. BIG MONEY.
Gold and silver is still lawful money , kegal tender is credit , you all need to read the loan for 2. 2. trilion it allows the fed to devalue money in bank on property and take all for the debt , and cancel al;l contacts read the bill this is war weapon is virus , and money deal is taking of the property and no a shot has been fired , wake up
There is only one thing you can buy with gold. . . paper. Not one store that i know of accepts it as payment on goods or services. In other words its not money.
Not enough gold in the world to store all the wealth in the world.
Agree, I just sold my gold sadly its up 20 percent the next day :(
Reason is that the only reason people receive fiat currency is because they all decided to do so.
They all built their house made of glass upon the dollar. The dollar backs other currencies as a reserve asset. We don’t want to destroy our reserve assets.
Also, the dollar strength is based on supply and demand. The more other nations want this imaginary value that everyone else receives in exchange for goods, the more our own currencies devalue against the dollar.
The more we prefer the dollar’s imaginary value over all other currencies imaginary value, the more our own currencies devalue against the dollar.
Rich people and those that do foreign business don’t care. They can make money out this system.
They borrow in their own local currency when the dollar is more expensive against it, invest that loan into buying dollars and contribute in strengthening the dollar and thus devaluing their own local currency.
When their own local currency is cheaper then they buy back their own local currency for cheaper, enough to cover that initial loan, and keep the difference.
That’s how you make money on loans with no effort at all and close to no risk.
so the pandemic plays in favour of the dollar
Who would invest their life savings in CHINA or RUSSIA ? I rest my case !
They just print the stuff. Biggest bully makes the rules.
zionists invested all their gold taken from Spain and Portugal who took it from south america by force killing the natives etc... in the new land- US ... same zionists created this bank system - Shylock the jew, one pound of flesh (Shakespiere) in return US helped the zionists going back to what they call (holy land of the jews) in despite Holy Torah prohibited them to go back there raging war and killing people, result? 1 and 2 WW and wars in Gaza, Yemen etc...
@@Baladev.das.b.h ok bro
baladev b. The god of Abraham Isaac and Jacob bless the Jews and Israel shalon
@@balmoresegovia8853 n yet you a bless people betrayed the moses yet worship a calf and kill dozens of prophet in the pass, thats seems big karma comes before your head soon in Future, just wait then
Haikal Emyrse the god of Abraham Isaac and Jacob said I will bless those that bless you and I will curse those that curse you Israel
Cant wait for a loaf of bread to cost a wheelbarrow full of $1,000,000 notes
THANK YOU FED, VERY COOL
It won't. People will band together, abandon their masters, make gardens, help each other out, and learn that their masters were shysters all along.
I thank God for your channel
at 4:20 it's claimed that "gold recently had it's worst year since the 1980's". this statement seems false or intentionally misleading to me, since gold has in fact doubled its value in most currencies over the past ten years.
Thats an intressting remark, but i still dont get why they push the dollar so much.
I guess its because Katar sells oil for US Dollar and they want at least a strong Dollar if they dont get much for there oil at the moment.
@joco2k This is Qatar promoting it not a US news Agency promoting there own currency.
They could just use the Dollar and thats it, they dont need to push it like that.
@joco2k What do you mean by that ?
what went wrong at YES bank ..... THEY SAID YES TO $hitty loans.... nuff said
Oh mighty 👑 💵!!!
Sweet dreams about $. Everybody knows it is only gold.
Yeah, this is wall street propaganda
Don't be fooled. Gold being a commodity... is also very much subject to the dynamics of supply and demand.
@@perp1exed Gold has more use than $ paper. I go for gold.
@JustEndItAll I go for gold as every country of the world keeping its reserves in gold not in $ paper. From gold I can do more than wipe my rear with $ paper, that is the real physical and chemical property.
@@georgewashington90 that's your opinion and your choice. Should be safe enough if you've diversified your investments. If society collapses _(it won't)_, don't expect to pay for groceries with gold though. Can't think of a better way to put a target on your back 😉
11:30 - That's Japan, not Indonesia...
inflation will kill the Dalla ,the Fed keep printing printing printing printing, when the start to fall it will go to zero, gold will allways be king
You missed one thing Gold and Silver . Don’t forget Silver. Everything have a positive and negative panel such as you eat as well as you excrete, you have veins that take blood 🩸 to all parts of your body as well as artery that brings back bloods with carbon dioxide, and you find positive and negative terminal in socket or any electric appliance. In short Gold needs Silver and silver needs Golds they are made for each other I hate when people only focus in one or forget one and only talk about one. I hope I could have explained thanks. Buy gold and silver thanks 😊
Yes, but for how long?
Great stuff
Gold has outperformed the US dollar during the pandemic.
The economics expert in the video literally said the dollar outperformed gold.
It didn't, dumbo.
Gold was at $1,550 USD / oz a year ago, now sitting at $1,850 USD / oz.
We better hope it stays that way.
Money printer go BRRRRRRRRRRRR
In last stockmarcet crash 20 trillion $ sudenly evaperated that is why Federal Reserve's has to print triloins in new currency. God bless you all. 🗽💓💓🌹🌹you.
A financial contagion is a high possibility, which country will be the first domino to fall?
Why are people so mad lol ? Get over it.
thanks for the video
He's wrong. Gold is nearly impossible to buy. It's used for payment. And COMEX can't seem to find theirs. Dollar is up because of supply.
U.P. dan You think that gold prices have dropped because supply is low? You gold bugs really don’t understand economics.
Maka556 Prices have dropped because gold prices are manipulated by the paper gold markets for the big banks profit. Has nothing to do with economics.
Dear world,
Why not buy lots of printers and print your own currency, let’s see if the world want your currency versus USD. Otherwise STFU, we’ll print what the world economy’s preferred currency . . . . . and that’s the MIGHTY American dollar, USD!
Yours Truly,
The World’s Alone SuperPower 💪 💪
Imagine if this dollar collapse...
Loved the GOT reference
We will see later this year how strong it is.
Who would invest their life savings in CHINA or RUSSIA ? I rest my case !
Not much discussion as to the factors driving trade in a specific currency..?? Cash is ONLY king if it buys something of value... if trade is in majority from Asia - why not buy in Yuan?
Cause its from china and right now NO ONE WANTS TO GET INVOLVED WITH CHINA
Alex according to the actual trade data PLENTY of countries are getting INVOLVED with China - trade is flourishing - check the DATA
Yes Bank says NO!!!
Hard asset ...Gold up 30% , BTC up 9000000% vs USD
Debt is fake, just keep printing money that'll fix the problem
Great. Put all your clients into $. King dollar !!! Its great, until it isn't.
Gold had its worst year since 1980? This guys out of his mind..... Gold is up over 5% this year alone and the markets are down 30-40% here in the US. We are only exporting inflation while other countries cant export their currencies. The dollar might be strong for a short time, but its going to be junk and they will make a new currency to replace it that will likely be digital.
people are always saying buy precious metal or gold for that matter, but when push comes to shove and you need to buy food, with what currency are you going to sell the gold? dollar of course. thats why dollar are so strong, people trust the currency.
AND if the worst happens, and all economy are collapse do you think your gold will worth something? it is just a piece of rock, without economy, gold are useless.
Actually true! LOL! Well said!
Am just seeing some financial jokers here. With these paper experts. Most countries have woken up to reality, watch the space, I highly doubt that countries will fall for this dollar biss. When anything is about to fall, it first reaches its peak, this is what is happening. Print much but once its repaid, who is going to take it again.
It's stable because so much debt is denominated in it, because that's what drives demand for it. Lenders want to denominate their loans in whichever currency will hold its value best, and borrowers don't want to pay a premium to denominate loans in a different currency. More USD-denominated debt means more stability means more USD-denominated debt. Its a positive reinforcement cycle.
If money is paper, it is just like a toilet paper regardless of the sign attached
It's just about time this dollar less than toilet papers
Trust me the Dollar won't survive after a hyperinflation. The US economy (already in 25 Trillions in public debt alone) plus adding a quantity easing (stimulus= more debts). Russia has virtually no foreign debts....I would think that the Russian Ruble will have a better chance of survival than the Dollar in a year's time.
All loans are tax free if you can't pay em back.
🌐Good news 🎯
USD index has gained +4.61% as of May 15th since Jan 2020 and GOLD has gained +15.5% . So yes dollar is still king, but Gold is the ultimate emperor.
Gold is a speculation based established investment
@@vgrepairs so why is it been the store of wealth for the last 5000 years. Moron
But why does the state need to give market money??? the business itself should have money stored in case of a crisis and they can afford it when they know how too pay 0 in taxes
American dollar is up and down and climbing
Is funny how people talk about the dollar but they love to exchange their currency in dollars.
You all back your Currency with X amount of Dollars. Like getting ride of the dollar would be a massive long term undertaking...
would it still be a sort after $$$$$$ after the pandemic??????
Running into the $ is like jumping out of frying pan into the fire. The $ is a joke!
You need US dollar in the short term. That is because the dependency of the world on US dollar - you have no choice. This dependency is proven to be a problem in this pandemic. It is a disaster for many economies. It is safer to rely on multiple currencies, instead of one.
The problem with dollar is that not only its the reserve currency but its the super reserve currency which it will eat other currencies and eventually eat itself
Recovery returns as soon pandemic fear reduce.
Well this aged well...
There is nothing behind the dollar. I would never ever put my savings in dollar.
Good enough on the rich for undermining the poor.
How long can a nation survive on a currency not backed by Oil? How can you predict a collapse?
This too shall pass
Yes temporarily
The euro is dead currency flowing, like dead man walking lol. That currency will be worth half a dollar very soon.
Sounds pretty stupid Russia and Arabia! You gotta eat!The question is how good is your oil anyways???!
please don't beleave to Al Jazeera and west mass media. Russia has another economic sectors which gives profit. Only one issue - Russian Central Bank is like a branch office of Federal Reserve Bank of "USA", why in bracket - because USA goverment doesnt owner of the Federal Reserve Bank :).
Ya USA will love this news. aljazeera really love USA dollars.
US did paid a lot for this propaganda channel, a US lapdog is just barking for US. AJ is absolutely bias news channel.
@@giawou6615 where aljazeera come from? Gulf countries both using and buy more weapons and dollars so much.
Gia Wou Yes Comrade
It appears that they benefit from a unique cocktail of the following:
(1) . Political stability
(2) . Economic stability
(3) . Population size
Unfortunately, it appears that the current policies being pursued by the USA will eventually topple (1) & ( 2)
Time will tell the only currency that will appreciate in value is God's own currency GOLD. Fed cannot print/produce Gold.
Moni George Gold is Money not currency it could be currency if it gave a face value but it’s a raw version of money and please don’t forget silver.
USD is finished. This will be the last nail in the coffin.
USA ..baby!
As long as Dollar=Oil, it will remain on the Throne
Oil is gone negative, so will US treasuries.
All the best.
Now is not the time to argue. Now is the time to obey the rules. So obey the Rules of government in all country And help the government. We will be saved by the grace of Allah. Only Allah can redeem us.
Defeated how ? Is it over ?
It’s so true. Emerging market currencies are dying.
Wtf is he smoking .you can’t even buy physical gold currently
WoRldLoveNow maybe something from Mars 😂 I can’t find no Silver.
Yup, gold sure is doing bad...
Dollar was declared to be the gold currency long ago. Other currencies are bound to maintain their rate based on dollar. One can declare the peso to be the gold currency tomorrow, peso will turn out to be the 'strongest' tomorrow. Smart manipulation.
Yeah Gold , Silver, and ammunition
bow to your ruler USA
The U.S. is the military , Isreal is the finance, Vatican is the religious entity that rules the Earth.
19:56 Finally someone used the term Black Swan! COVID-19 is perfect example of a Black Swan event.
Kicapan Manis Robert Kiyosaki has been saying the weeks.
No. This is not a black swane. We know a new virus was coming!
yes bank is the fourth largest private sector bank.
"The reserve since the wars..." No it wasn't. Only since the gold standard was dropped in the 70s. As for the reason for why this free fall for currencies like the GBP... He simply says it means that there needs to be bracing for the unexpected. That's not analysis, that's talking about a subject he doesn't understand. The GBP etc are falling because places like the UK don't produce anything essential. The focus on finance as an "industry" Means a reliance on all those investments and if they are primarily based on other financial instruments or luxury goods - traditionally some of the biggest returners, and a currently failing oil industry then it is no surprise that their economies and currencies are tanking. Get a proper analyst who has something of value to add to the conversation.
American dollars being the world's reserve currency is bad for other countries
ya think?
Century? Wtf ...Brettons wood made US standard with gold reserves
Most Western countries have debt-to-GDP ratios over 60%. God knows what that debt will be like after this health emergency ends; the pressure will be on to get economies up and running again.
Not most, some, but several west european states is quite fiscally stable.
U.S will be fine, due to USD strenght, immense domestic market and the military might to uphold all bretton woods institutions.
Russia, India, Japan, South Korea, Italy, Spain, Greece and somewhat Germany, will be struggling. QE, QE, QE...
Germany has EU domination to fall back on, when markets reopen, they will handle the consequences, Italy, Spain and Japan is in a horrible state...
India needs growth, it was already preforming badly, this will tip it into a bad decade...
@@andreaskroknes4407 bro usa is about to have a huge unemployment rate worse than what happened in 1919
siemenssx1 The U.S won the conventional war in Afghanistan in a couple of weeks, but just like the Soviets and British earlier, they had to withdraw from what became a protracted conflict, defined by guerilla warfare. Still, the U.S losses compared to Afghan, is meager.
The U.S navy is the “be all end all” in every major signifcant area of shipping. International trade has and still is upheld by the overwhelming fire power of the U.S navy. This is the fact i am referring to. Since 1945, this is a fact major actors within the international system must have faces. This is the reason why China is investing heavily in its navy, and building A2/AD capabilties. Witht that, they hope with time, that they can challenge the U.S in the south china sea and later the pacific.
@@andreaskroknes4407 the US will be extremely lucky to get out of this one. Their health system is collapsing and parts of their economy will likely go with it, strong dollar or no strong dollar. Reason I think they'll struggle is simple: poor political leadership.
china's debt is 270% of her GDP. Japan 285%. USA 104%
as the Stimulus announce by US totalled 2.2 Tril which from it account 350Bil which is pay direct into the main streets pockets, that's exactly bailout employed peoples, which makes greenback precious...Cash is king now
The US dollar is king! Yeah, it's the king with no clothes...
Who would invest their life savings in CHINA or RUSSIA ? I rest my case !
@@sevewonn8567 What case?
No one knows where the money went who got the loans? Follow the money.
How can the Russian currency be weak? Russia has a high amount of natural resources....minerals, oil, diamond mines, etc. How can that translate to a weak currency?
Because nobody wants it
@@argentaamore Not yet but I reckon that they're in way better shape financially than either us (in the USA) or in the EU.
Marcantonio H , the Russians have almost laughably weak and corrupt institutions (especially compared to the EU and US), it doesn’t matter how many resources they have. What’s more the Russians are under heavy sanctions due to the war in the Ukraine.
Without good institutions, trust, and global use as well as the current sanctions due to Russian foreign policy they have no chance of being a major reserve currency.
@@Gorilder maybe so but I'll bet they will be the ones having the last laugh when food shortages, riots and mayhem will start in the good ole USA (soon)....
@@markiec8914 , Dude, the US is food sufficent in and of itself (and is the world's largest exporter), food shortages in the US are nigh impossible, our main issue is going to be supply chain bottle necks from both panic buying and lots of restraunts going belly up due to social distancing.
Seriously el Jazeera , asking a 20 years old man to find a solution to debt crisis. In India ?
Given the level of stupidity and ineptitude at all levels of Indian society, don't be surprised if a 20 year old in an office knows more than the imbeciles in such a two bit country.
"The dollar is on the Iron Throne"
GOT comparison-interesting.
So, Is the US Dollar like the Lannisters? Does it always pay its debts?
The coins will be smaller but the debts will be honored and paid.
@@devilsadvocate4864 maybe, maybe not.
Do you know why printing money is perfect during the pandemic. The absence of inflation, there is little to no movement hence little inflation allowing the elite to convert trillions into gold or silver once they decide to pull the plug🔌
only a matter of time!
One currency? USA is going wild and printing money like crazy! Your US dollar will depreciate fast.
I don't agree with fed printing too much money, but just imagine if financial institutions starts going down then again we are in the same situation as 2008. Banks starts falling and whole world goes in turmoil People are saying buy gold do you guys even know how much gold usa has in stockpile? Just do your research America has world largest stockpile of gold and silver and platinum.
well💲🏦🇺🇸 & credit💲?
New Zealand was the first country in the world to implement social welfare and their not socialist or communist
"yank their cash..."
Lol
Is it really a surprise? During a global calamity which country would you bet on being able to pull through and recover? The wealthiest nation in the world duh. Every nations economy is getting hit, so the US will still remain on top by comparison. Billionaires and oligarchs will park there money here for safe keeping during a global emergency like this.