Rain today but I did walk 7 miles along the lake and 1 mile in the lake at the beach before it started raining. Lucky. Lots of rain leads to lots of wildflowers photo below
Better if USA gets rid of Dollar reserve status that pushes the value of the dollar higher which makes it hard for our exporters to succeed in a global economy. Makes our exports too expensive, imports too cheap, thus leading to trade deficits. USA needs high paying export jobs and to quit importing so much junk from overseas. Further, these monetary inflows go into banks which loan them out causing Americans to get deeper in debt. USA needs to reduce debt. Keep those funds out of $ to reduce debt and deficits. Dollars floating around the world has been a big problem since the 1970s (Eurodollars Petrodollar recycling) etc.
I would go much further and outlaw any dollars in any foreign country. US$ are the USA currency and should stay in USA regulated financial institutions. Foreign countries have their own currencies. Foreigners should use their own currencies. If foreigners sell something in the USA and get dollars then they should convert those dollars to foreign currency before moving those funds out of the USA. Foreign currency is the world’s largest market, highly liquid. Banks are happy to help you convert your currency for a small fee.
The current currency chaos benefits crooks, schemers, and foreigners but cheats the USA poor 99% who worked hard to earn those dollars. Those dollars should not be allowed to float overseas into nebulous dubious foreign entities where they may stay forever. USA dollars should stay in the USA where they can be regulated, monitored, and secured. USA dollars should inflate Americans not Foreigners who do not pay our taxes or fight our wars. Parasites. If we can bring back all that money floating overseas, we would be rich, not in debt. And not so many poor deflated people in the USA.
Gold lost all of its purchasing power before I was born. I have never seen anybody buy anything with gold. I have bought a few things with silver dimes and quarters but nowadays it is hard to find any real silver coins anymore except in curio coin shops. Nobody uses gold or silver anymore for transactions except occasionally criminals doing drug deals, human trafficking, tax evasion,… Gold purchasing power is gone forever.
Eurodollars are time deposits denominated in U.S. dollars at banks outside the United States, and thus are not under the jurisdiction of the Federal Reserve. Consequently, such deposits are subject to much less regulation than similar deposits within the U.S., allowing for higher margins. By December 1985 the Eurocurrency market was estimated to have a net size of 1,668B. However, since the markets are not responsible to any government agency its growth is hard to estimate. The Eurodollar market is by a wide margin the largest source of global finance. In 1997, nearly 90% of all international loans were made this way
On 6/26/14, Ron wrote:
> Prognosis for the dollar holding value is not good. The dollar > (actually “Federal” Reserve Note) has lost 98% of value against gold > and 97% against silver since the inception of “The Fed” in 1913. (King > World News). Because of the reserve status the dollar may be the last > man standing among world fiat currencies or the first casualty if the > US central bankers keep aggressively pushing exclusive use of the > petrodollar on noncompliant countries with the US military. Eventually > all bullies are dealt with.