I think that people that don’t actually listen to Tucker Carlson get an abbreviated and distorted cliffs notes version of what he says and what he means when he says it. He would clearly love nothing more than to see America and Americans thrive. The entire point of his commentaries and interviews is that the people that run it now are actually evil and do not want America to thrive. They actually benefit from enslavement of the middle class. If he says, hyperbolically, that the dollar will not continue to be the worlds reserve currency it’s not because he wants that to happen. It’s because he doesn’t. It’s a warning. America needs a massive course correction. It is possible to do it, but if we don’t (or aren’t allowed to…) it WILL end in disaster. Our only saving grace right now, is that every other country is still yet worse than us. That’s not a good excuse for decline, which is a choice “they” have been making.
Fair play to your comment. Carlson gets high marks for having confronted some issues completely ignored by the MSM and even Fox News. He is a provocateur in the best sense of that word.
He is also prone to take the dark side of an argument just to be contentious and, of course, he let Vladimir Putin use him like a Tijuana lady.
Personally, he's the frat boy wannabe he seems to be, but that's not fatal, just juvenile.
I would put Carlson in the category of “propagandist against fascist Western oligarchs”. He’s only a contrarian relative to people that want him to shut up, nearly all of whom are particularly odious and quite evil. Most of the other criticisms of him are just details.
Nice shout out to Mike Lotus. Haven't seen him in a while, but what a thoughtful and smart guy he is. Also, he looks like Bill Buckley, which I am sure is his goal.
**
From personal experience in import/export for 30+ years now, there is zero danger of the Yuan being taken seriously as a currency. The Chinese manufacturers/suppliers won't negotiate in Yuan because they don't trust it either. I've been in small business for 20 years now, and buying in Yuan does not happen. I asked the CFO of Caterpillar the same question and he laughed it off with a 'no way in Hell'.
Good first step is running Joe Biden and his clowns off! Not a doom sayer myself Mr Carter but we have a tall order in front of us but if any nation can turn it around it's the USA! Pray for the Republic!
In any intelligent discussion about the "reserve currency" we should know what it means and a bit of history.
The world's reserve currency is the currency that central banks hold their country's cash reserves in. Just what it sounds like.
If one harkens back to Bretton Woods in 1944 the world's most important countries agreed in writing that the dollar backed American currency was the world's reserve currency. The US was the Arsenal of Democracy and its gigantic economic and manufacturing might was on display for all to see. It was a no brainer.
From Bretton Woods and its 700+ delegates came the International Monetary Fund and the Int'l Bank for Reconstruction and Development to be later re-named The World Bank Group.
The IMF set and monitored currency exchange rates internationally -- this had never been done before -- all denominated in US dollars and held to a 1% range. Note: gold was $35/ounce and p;rices fixed. The IMF lent to nations with reserves issues.
The grease that lubricated this gigantic system and that made it work was the USD.
The IBRD oversaw the rebuilding of war torn Europe and the development of smaller nations.
I tell you this because there is a bloody ton of infrastructure underpinning the use of the USD as the world's reserve currency. It is not just the Prom Queen because it looks pretty. It took 10 years to get the IMF operating smoothly.
Once this was set up, many industries ran their entire market priced in USD -- the big example is the international energy business. Oil runs on the USD. The USD is the only currency in the world with sufficient free flowing currency -- float -- to handle that volume of business. This is a practical structural consideration.
There have been many attempts to replace the USD as the world's reserve currency -- about 60% of all funds held by governments (including Red China) are held in USD instruments -- but none of them have ever had a minute of traction.
None of the pretenders to the throne have ever been able to even contemplate doing the actual work -- such as the energy business -- required to replace the USD. None of them have ever done anything like the IMF and the World Bank Group.
Russia has been forced to take yuan and rupee to sell oil at a 30-40% discount to China and India. Now Russia is forced to buy things from China and India as nobody else wants those currencies at volume.
This is not a huge problem with China, but it is a disaster with India as India has nothing Russia needs.
This two way currency limited trade is one of the biggest threats to the Russian economy.
So this entire argument devolves to a middle school basketball team contemplating whipping the Michael Jordan led USD Chicago Bulls.
Not going to bloody ever happen. Bring your units to attention and render a salute to the USD.
True. The other part of the equation is the US is still the biggest kahuna economy in the world. People who trade with us have to own US dollars, and use those dollars to buy US debt. Although most people think China owns most of the US debt, that is not the case. Most of it is owned by US entities. Russia is truly screwed even if they win their skirmish with Ukraine. Demographically screwed, and who will trust them? China is screwed demographically as well not to mention there are excesses that are buried deep in a communist system. The thing no one mentions is that bringing manufacturing to North America and shortening supply chains will make those cancers inside China grow faster. Problem is, they have a big army and they will use it somewhere to try and cure their own cancer.
If you are selling to the US, you receive dollars. China is buying USTs with the dollars it generates from the US - China trade imbalance.
Re-shoring, friend-shoring, and any other move to bring manufacturing home or to relocate it to friendly nations is the right move as it relates to China. They are our enemy.
The Chinese army has never engaged in combat operations outside their own sphere of influence and where they can get to the fight by train, truck, or foot. They are not an effective global military force.
Can they take Taiwan if they want to? Yes, but it would take every bit of their combined arms forces -- navy, air, army -- to make it happen and it would not be easy. It would have gigantic implications for China's role in the world.
The greatest threat to the US is the wasting away of our military -- we have 440,000 soldiers compared to 3-4MM during Vietnam -- and we are hollowing the military out w/ unfettered wokeness.
From The 30,000-ft View perspective, one of the biggest differences between our continued success, despite being a very young Nation relative to many others around the world, is our propensity for our political bent to veer back toward center, rather than become extremist and get stuck on extremist in either direction. Despite my concerns, which I have voiced often, that the extremist populations have grown in the past decade to decade and a half from about a fraction of 1%, to probably five or six percent on each side, it's still significantly outnumbered by so-called moderates in the middle 90%.
Most people in this world still value stability and if I'm in charge of trillions of dollars, there's no other nation that can come close to matching the stability that the United States offers, even during the riots of the summer of 2020.
If I'm managing trillions of dollars, name one other place that for intermediate and long-term investing offers me a decent return in a safer and more stable environment. You can't, because there isn't one.
Even though I have often proclaimed that there's a distinctly higher possibility of us going the way of the British Empire and becoming just one of instead of unquestionable number one, just because those odds have quintupled in the last decade and a half to two decades, it doesn't mean that the statistical probability of its occurrence has surpassed even 5%.
I'm a strong believer that cryptocurrency in the next decade will replace a lot of paper and coin currency, because it's more economically and environmentally feasible, despite most people not doing more than a cursory examination before condemnation. Nonetheless, there's nothing I see replacing the US Dollar in my children's lifetimes. Not going to happen.
I cannot think of a single person I have spoken to in the last half decade with the company I'm a Director with in more than 140 countries who would disagree with anything I just wrote and many of them have served at executive capacities at very high levels of their governments, banking industries and investment and brokerage industries.
I think that people that don’t actually listen to Tucker Carlson get an abbreviated and distorted cliffs notes version of what he says and what he means when he says it. He would clearly love nothing more than to see America and Americans thrive. The entire point of his commentaries and interviews is that the people that run it now are actually evil and do not want America to thrive. They actually benefit from enslavement of the middle class. If he says, hyperbolically, that the dollar will not continue to be the worlds reserve currency it’s not because he wants that to happen. It’s because he doesn’t. It’s a warning. America needs a massive course correction. It is possible to do it, but if we don’t (or aren’t allowed to…) it WILL end in disaster. Our only saving grace right now, is that every other country is still yet worse than us. That’s not a good excuse for decline, which is a choice “they” have been making.
Fair play to your comment. Carlson gets high marks for having confronted some issues completely ignored by the MSM and even Fox News. He is a provocateur in the best sense of that word.
He is also prone to take the dark side of an argument just to be contentious and, of course, he let Vladimir Putin use him like a Tijuana lady.
Personally, he's the frat boy wannabe he seems to be, but that's not fatal, just juvenile.
JLM
www.themusingsofthebigredcar.com
I would put Carlson in the category of “propagandist against fascist Western oligarchs”. He’s only a contrarian relative to people that want him to shut up, nearly all of whom are particularly odious and quite evil. Most of the other criticisms of him are just details.
Not disagreeing w you, but what exactly is a "fascist Western oligarch" these days?
JLM
www.themusingsofthebigredcar.com
Do you really need me to explain that? It’s a long list. Start with members of the World Economic Forum.
Fair play. I understand what you are saying.
I don't think of the WEF as an oligarch. I think of them as a cabal.
JLM
www.themusingsofthebigredcar.com
A cabal of oligarchs and their servants
Nice shout out to Mike Lotus. Haven't seen him in a while, but what a thoughtful and smart guy he is. Also, he looks like Bill Buckley, which I am sure is his goal.
**
From personal experience in import/export for 30+ years now, there is zero danger of the Yuan being taken seriously as a currency. The Chinese manufacturers/suppliers won't negotiate in Yuan because they don't trust it either. I've been in small business for 20 years now, and buying in Yuan does not happen. I asked the CFO of Caterpillar the same question and he laughed it off with a 'no way in Hell'.
nice to have practical experience commenting. thank you
Good first step is running Joe Biden and his clowns off! Not a doom sayer myself Mr Carter but we have a tall order in front of us but if any nation can turn it around it's the USA! Pray for the Republic!
Joke currently going around;
I asked my stock broker, in this turbulent economy, what should I be buying?
He said "Canned goods and ammunition!"
You have to be long the US. But as many wise people before us have warned: be ready to fight for our country’s original ideals all the time.
In any intelligent discussion about the "reserve currency" we should know what it means and a bit of history.
The world's reserve currency is the currency that central banks hold their country's cash reserves in. Just what it sounds like.
If one harkens back to Bretton Woods in 1944 the world's most important countries agreed in writing that the dollar backed American currency was the world's reserve currency. The US was the Arsenal of Democracy and its gigantic economic and manufacturing might was on display for all to see. It was a no brainer.
From Bretton Woods and its 700+ delegates came the International Monetary Fund and the Int'l Bank for Reconstruction and Development to be later re-named The World Bank Group.
The IMF set and monitored currency exchange rates internationally -- this had never been done before -- all denominated in US dollars and held to a 1% range. Note: gold was $35/ounce and p;rices fixed. The IMF lent to nations with reserves issues.
The grease that lubricated this gigantic system and that made it work was the USD.
The IBRD oversaw the rebuilding of war torn Europe and the development of smaller nations.
I tell you this because there is a bloody ton of infrastructure underpinning the use of the USD as the world's reserve currency. It is not just the Prom Queen because it looks pretty. It took 10 years to get the IMF operating smoothly.
Once this was set up, many industries ran their entire market priced in USD -- the big example is the international energy business. Oil runs on the USD. The USD is the only currency in the world with sufficient free flowing currency -- float -- to handle that volume of business. This is a practical structural consideration.
There have been many attempts to replace the USD as the world's reserve currency -- about 60% of all funds held by governments (including Red China) are held in USD instruments -- but none of them have ever had a minute of traction.
None of the pretenders to the throne have ever been able to even contemplate doing the actual work -- such as the energy business -- required to replace the USD. None of them have ever done anything like the IMF and the World Bank Group.
Russia has been forced to take yuan and rupee to sell oil at a 30-40% discount to China and India. Now Russia is forced to buy things from China and India as nobody else wants those currencies at volume.
This is not a huge problem with China, but it is a disaster with India as India has nothing Russia needs.
This two way currency limited trade is one of the biggest threats to the Russian economy.
So this entire argument devolves to a middle school basketball team contemplating whipping the Michael Jordan led USD Chicago Bulls.
Not going to bloody ever happen. Bring your units to attention and render a salute to the USD.
JLM
www.themusingsofthebigredcar.com
True. The other part of the equation is the US is still the biggest kahuna economy in the world. People who trade with us have to own US dollars, and use those dollars to buy US debt. Although most people think China owns most of the US debt, that is not the case. Most of it is owned by US entities. Russia is truly screwed even if they win their skirmish with Ukraine. Demographically screwed, and who will trust them? China is screwed demographically as well not to mention there are excesses that are buried deep in a communist system. The thing no one mentions is that bringing manufacturing to North America and shortening supply chains will make those cancers inside China grow faster. Problem is, they have a big army and they will use it somewhere to try and cure their own cancer.
If you are buying from the US, you need dollars.
If you are selling to the US, you receive dollars. China is buying USTs with the dollars it generates from the US - China trade imbalance.
Re-shoring, friend-shoring, and any other move to bring manufacturing home or to relocate it to friendly nations is the right move as it relates to China. They are our enemy.
The Chinese army has never engaged in combat operations outside their own sphere of influence and where they can get to the fight by train, truck, or foot. They are not an effective global military force.
Can they take Taiwan if they want to? Yes, but it would take every bit of their combined arms forces -- navy, air, army -- to make it happen and it would not be easy. It would have gigantic implications for China's role in the world.
The greatest threat to the US is the wasting away of our military -- we have 440,000 soldiers compared to 3-4MM during Vietnam -- and we are hollowing the military out w/ unfettered wokeness.
We are unprepared for a two theater conflict.
JLM
www.themusingsofthebigredcar.com
I go to Ukraime every year to visit family, including this one and American dollars are gladly appreciated.
God bless you and your family in Ukraine. I hope the US can be the stalwart ally they need.
JLM
www.themusingsofthebigredcar.com
The FED MUST print money to monetize the US debt. $1 trillion in new debt every 100 days says so.
Inflation is always and everywhere a monetary phenomenon. ~Milton Friedman
If gold, land, and commodities are not the answer, what is?
Stocks?
The Dow is trading 17 times the price of gold.
In 1929, the Dow was trading 20 times the price of gold.
Something is going to move...dramatically.
From The 30,000-ft View perspective, one of the biggest differences between our continued success, despite being a very young Nation relative to many others around the world, is our propensity for our political bent to veer back toward center, rather than become extremist and get stuck on extremist in either direction. Despite my concerns, which I have voiced often, that the extremist populations have grown in the past decade to decade and a half from about a fraction of 1%, to probably five or six percent on each side, it's still significantly outnumbered by so-called moderates in the middle 90%.
Most people in this world still value stability and if I'm in charge of trillions of dollars, there's no other nation that can come close to matching the stability that the United States offers, even during the riots of the summer of 2020.
If I'm managing trillions of dollars, name one other place that for intermediate and long-term investing offers me a decent return in a safer and more stable environment. You can't, because there isn't one.
Even though I have often proclaimed that there's a distinctly higher possibility of us going the way of the British Empire and becoming just one of instead of unquestionable number one, just because those odds have quintupled in the last decade and a half to two decades, it doesn't mean that the statistical probability of its occurrence has surpassed even 5%.
I'm a strong believer that cryptocurrency in the next decade will replace a lot of paper and coin currency, because it's more economically and environmentally feasible, despite most people not doing more than a cursory examination before condemnation. Nonetheless, there's nothing I see replacing the US Dollar in my children's lifetimes. Not going to happen.
I cannot think of a single person I have spoken to in the last half decade with the company I'm a Director with in more than 140 countries who would disagree with anything I just wrote and many of them have served at executive capacities at very high levels of their governments, banking industries and investment and brokerage industries.
I concur with your assessment. 👏
I learned from a guy named Joe Klein
Famous commodity executive
Ran the Beverly Hills off for bache
When the market rolls over which it will
Cash is king
Just like 2008
Rick rieder cio black rock smartest fixed income guy on the planet who I know just recently
High interest rates are one of the main components of inflation
And housing is not even considered in there inflation numbers
I’m just a poor boy from Roger’s park
But
I either had the most famous traders and quaint
As clients or friends