A Quote by G. Edward Griffin
As long as the dollar remains in high esteem as a trade currency, America can continue to spend more than it earns. But when the day arrives - as it certainly must - when the dollar tumbles and foreigners no longer want it, the free ride will be over.
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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.
China got the local currency, the yuan which is appreciating against the dollar which means that all these Chinese people have more purchasing power. And they're willing now to spend some money after saving, you know they provided America with savings for years. Now they're going to spend some money. So this means that they are willing to allow the dollar to weaken because it means that their currency, the yuan goes up, so they're actually in a winning situation.
The trouble with America is that when the dollar only earns 6 percent over here, then it gets restless and goes overseas to get 100 percent. Then the flag follows the dollar and the soldiers follow the flag.
A huge dollar bill is the most accurate way to teach children the real motto of the United States: In the Almighty Dollar We Trust... Until the average American realizes that capitalism damages her livelihood while augmenting the livelihoods of the wealthy, the Almighty Dollar will continue to rule. It certainly is not ruling in our favor.
I believe in adequate defense at the coastline and nothing else. If a nation comes over here to fight, then we'll fight. The trouble with America is that when the dollar only earns 6 percent over here, then it gets restless and goes overseas to get 100 percent. Then the flag follows the dollar and the soldiers follow the flag.
Every dollar a foreigner spends over here directly subtracts a dollar from the trade deficit.
The value of a dollar is to buy just things; a dollar goes on increasing in value with all the genius and all the virtue of the world. A dollar in a university is worth more than a dollar in a jail; in a temperate, schooled, law-abiding community than in some sink of crime, where dice, knives, and arsenic are in constant play.
The more men, generally speaking, will do for a Dollar when they make it, the more that Dollar will do for them when they spend it.
Americas largest trade deficit is with China, a nation that enjoys Permanent Normal Trade Relations with the U.S. and ties its currency to the dollar to make it a more competitive trading partner.
So if you think America's politicians and citizens are willing to make the changes necessary to strengthen the U.S. dollar, then don't buy silver. But if you're like me and don't expect us, as a nation, to take our medicine, then short the dollar - and the way you short the currency is by going long on gold and silver.
The good news is that a competitive dollar in the global market and a strong dollar at home are compatible in both the long run and during the transition to a more competitive dollar.
We must teach our children not to spend their money a dollar at a time. If you spend your dollar at a time, you'll wind up with trinkets instead of treasures.
My experience says that if you put out a lot of personal work that's good, it tends to attract high dollar commercial work. But to be clear - I don't create art to get high dollar projects, I do high dollar projects so I can create more art.
If we continue on the trend we’re on, we can reduce extreme poverty by more than 60 percent-lifting more than 700 million people out of dollar-and-a-quarter a day poverty and back from the brink of hunger and malnutrition. But if we accelerate our progress from 3 percent annual reduction to over 6 percent and focus on key turnarounds in some difficult countries, we could get a 90 percent reduction. We could essentially eliminate dollar-and-a-quarter head count poverty.
What there is no dispute about is whether or not China is a currency manipulator. They are a currency manipulator. They actively intervene every single day to keep the value of their currency less than it would be against the dollar than if it floated freely. We think. Even China barely disputes that.
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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