Re:The self-driving car is a red herring
by shadowgovt on Wednesday October 28, 2020 @11:53AM
(#24920239)
This is essentially correct mechanically, though I don't share this author's prediction that we're sliding towards a collapse. We're in a pandemic; pandemics push the market around. But they also end.
But mechanically, yes. The Fed can't collapse while it's the controlling institution of the dollar. The dollar is the world's reserve currency. It's the denomination unit for paying IMF loans. It's the unit of money other countries shove under a big ol' mattress (with scary-looking guards around it) to backstop a collapse of their national currency. The dollar is so deeply baked into international economics that only global shocks can fundamentally shake its value as a currency.
If that changes, the Fed's power base becomes heavily disrupted, but most of us in the US won't notice because we'll be too busy riding in gangs with our fellow War Boyz hunting down the last reserves of Go Juice for our Death Rigz under a burning sky. ;)
But mechanically, yes. The Fed can't collapse while it's the controlling institution of the dollar. The dollar is the world's reserve currency. It's the denomination unit for paying IMF loans. It's the unit of money other countries shove under a big ol' mattress (with scary-looking guards around it) to backstop a collapse of their national currency. The dollar is so deeply baked into international economics that only global shocks can fundamentally shake its value as a currency.
If that changes, the Fed's power base becomes heavily disrupted, but most of us in the US won't notice because we'll be too busy riding in gangs with our fellow War Boyz hunting down the last reserves of Go Juice for our Death Rigz under a burning sky. ;)