The Collapse of The US Dollar 😳

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[SophiaChristian-soof]

I would say TAKE ADVANTAGE OF THE RECESSION! Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.

[jaket]

Dude has super villain eyebrows and it's all I can focus on.

[valeriegiles]

The federal Reserve is not federal & there are no reserves. It's a private corporation. It's meant to be a debt based system and the taxpayers are considered collateral for that debt. It's a slave system.

[dsmith]

Joe was just the cherry on top of the shit pile, this has been a long time coming

[Len]

If it's not sustainable, then maybe it's time the Pentagon is made to answer to the American people and explain how 59% of its budget simply _vanished._ Trillions that, by the Pentagon's own admission after performing its own audit, are entirely unaccounted for. Black budget projects and the like are included in that 41% this _is_ accounted for, so it has nothing to do with that. I can't speak to his intentions, but a lot of those that talk about the budget and spending aren't referring to that. Many of these compromised or conservative individuals, generally point to the measly cheques people got during the pandemic and public welfare- minuscule compared to the rest of the developed world - and their suggestion for balancing the budget really means American families have to take the hit by cutting social program spending, healthcare subsidies, free lunches, the sort of stuff meant to give Americans the slightest leg up in troubled times. Keep in mind that these social programs are pennies compared to the ungodly amount of money that somehow slipped through the cracks, or the bloated $1, 000, 000, 000, 000+ budget spent on a fighter jet that is way past schedule and yet to even fly. Agree with it or not, the student debt forgiveness proposal is a rounding error compared to the operating costs of a single branch of the military. Don't want to tap into the military budget that is larger than the next nine largest militaries on Earth combined (China, Russia, India, Britain, etc., etc.)? Fine, tax the wealthy elites at a rate comparable to other first-world nations. They'd still get filthy rich, just slightly less so, and the standard of living of the poorest Americans would jump considerably while balancing the budget. It's not a matter of not having the money; it's about a government bought and owned by the wealthy through SuperPACs, corporate campaign donations, the notion that said corporations are "people" and money counts as "free speech, " and the absurdly corrupt mechanisms for carrying out legalized bribery.

[charlescowan]

The debt was 17 trillion after Obama left office. Between Trump, who also raised the debt ceiling significantly and he also spent widely! We're now at 31 trillion! The debt has doubled in 1 and half presidential administration's! This is something way upstream from the president.

[mariomontgomery]

I mistakenly wrote a check for a quadrillon dollars and that made the economy crash. I apologize and it won't happen again.

[JABS]

Trump raised the debt from 20 Trillion to 27 TRILLION.

Did YOU get any of those tax cuts?

[theycallme]

Under Biden; the debt? Don't get me wrong, I don't like stuttering Joe. But that debt been they're since OIF and Bush Jr.. yall gotta stop passing off the buck. Pun intended.

[gio]

The USA is the safest place in the world. Unless you're a child. Or you're poor. Or you're of any skin color. Or you're a man or a woman.

[jerryerzhu]

31 trillion is unsustainable? They are in the talks about raising the debt ceiling to 50 trillion, or just abolish the debt ceiling

[kurtadams]

Who created and controls the federal reserve? 🤔

[brandonscoffield]

Even capitalism has its limits. One example are the tent cities across merica.

[yousoundupset]

Can't imagine how much money we would save if politicians didn't get a check.

[russelbrown]

Imagine having to use and sell our own oil to make money and stabilize the economy.

[fondlemyplumsplease]

He’s mostly correct, pre covid it was true. The US, generally speaking has been a pig wearing lipstick; attempting to appear what it used to be….the current approach to geopolitics makes it obvious as to just how hard they’re trying, following the visit to Northern Ireland is a prime example. Offering 6B USD just for nationalist & unionist politicians to play politics is laughable & I say that as an Irish immigrant in the US.

[joshuakerr]

The US dollar has primarily been supported by the fact that its backed by OPEC. All oil from opec is bought in US dollars.

[ThatsChannel]

That gives us the ability to print money. Generally that means ones and zeros. But if you look at the Federal Reserve Bank of New York notes. Ones that start with a B the majority of the 100-dollar bills printed for the New York Federal Reserve District are sent outside the country actual physical pieces of paper and the US government benefits because now there is $100 of funny money that was literally just printed on little pieces of paper the cost of a dollar or two that they can pretend is worth $100.

[michaeldiroma]

Who is going to back any other currency Let’s see EUO-no, Pound-no, Ruble-no, Yuan-no so Duh, no one is going anywhere 🎉

[shanemathews]

I was very fascinated when they came up with quantitative easing and the fact that it didn't crash the US dollar. And shows how fixed the system is... During the pandemic crash, they put a trillion dollars into the system that disappeared in 15 minutes.😅