A Quote by Addison Wiggin
The petroDollar system breaking down, where oil is no longer paid for in Dollars internationally, essentially would be the death knell to the US Dollar as the reserve currency. It means the US can't borrow with 'exorbitant privilege' anymore, and it means the US Treasury market is set for an out-of-control interest rate spiral.
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The primary factor that enables our government to peddle economic snake oil is the dollar's unique role as the world's reserve currency, and our creditors' willingness to preserve its status. By buying up dollars and loaning them back to us through Treasury debt, productive countries give American politicians cart blanche to play Santa Claus.
The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government Bonds from the U.S. Treasury...and has created out of nothing a ... debt which the American people are obliged to pay with interest.
If all bank loans were paid, there would not be a dollar of coin or currency in circulation. Someone has to borrow every dollar we have in circulation. We are absolutely without a permanent money system.
My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. . .you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. . .I think you could see a 25% reduction in the standard of living in this country if the U.S. dollar was no longer the world's reserve currency. That's how valuable it is.
Because the state can no longer protect us from crime, it wants to take away from us the means of protecting ourselves. This is the logic of gun control.
The black unemployment rate has to be twice that of the white rate in the US. If the national unemployment rate were 6.8 percent, everyone would be freaking out. We ought to not take too much solace in the 6.8 percent, but ask ourselves what can we do to bring that down to white rates, which are below 4 percent now. Some of that has to do with education, but that's just part of the story. You find that those unemployment differentials persist across every education level. I think it means pushing back on discrimination and helping people who can't find work get into the job market.
Art has a way of confronting us, of reminding us, of engaging us, in what it means to be human, and what it means to be human is to be flawed, is to be contradictory, is to be often weak, and yet despite all of these what we would consider drawbacks, that we're also quite beautiful. Spin is the opposite.
Without [diversion] we would be in a state of weariness, and this weariness would spur us on to seek a more solid means of escaping from it. But diversion amuses us, and leads us unconsciously to death.
Those of us from the Vote Leave team would never have gone to No10 to help if Boris hadn't told us that he is determined to change the Conservative Party - change its priorities and change its focus so it really serves the whole country. Most of us were not 'party people.' For us, parties are a means to an end - a means to improve lives.
The greatest threat facing America today
is the disastrous fiscal policies of our own government,
marked by shameless deficit spending and
Federal Reserve currency devaluation.
It is this one-two punch -
Congress spending more than it can tax or borrow,
and the Fed printing money to make up the difference -
that threatens to impoverish us by further
destroying the value of our dollars.
You built a factory out there, good for you. But I want to be clear. You moved your goods to market on the roads that the rest of us paid for. You hired workers that the rest of us paid to educate. You were safe in your factory because of police forces and fire forces that the rest of us paid for.
When I was on tour, people would say "We don't need a value-based currency, we can go out and buy gold and silver with US dollars now." I mean that it is so utterly brain dead, because they miss the whole point: the reason we need to have a gold and silver based currency is to bring discipline to the financial system so the government can't go out and do all sorts of bad things.
Compassion has been advocated by all the great faiths because it has been found to be the safest and surest means of attaining enlightenment. It dethrones the ego from the center of our lives and puts others there, breaking down the carapace of the selfishness that holds us back from an experience of the sacred. And it gives us ecstasy, broadening our perspectives and giving us a larger, enhanced vision.
Death either destroys or unhusks us. If it means liberation, better things await us when our burden s gone: if destruction, nothing at all awaits us; blessings and curses are abolished.
To begin depriving death of its greatest advantage over us, let us adopt a way clean contrary to that common one; let us deprive death of its strangeness, let us frequent it, let us get used to it; let us have nothing more often in mind than death... We do not know where death awaits us: so let us wait for it everywhere." "To practice death is to practice freedom. A man who has learned how to die has unlearned how to be a slave.
We are privileged that the dollar is the "currency of last resort" and the most important currency in the world. Global commodities are priced in dollars. Central banks in other countries hold great quantities of dollars. The dollar was the safe harbor, the port in the storm during the credit crisis.
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