I guess the dollar might need to end, but for different reasons.
As long as Trump is in power, he can in principle just print as many dollars as he wants to and spend them on what he likes.
The mechanism is by (ab-)using the Federal Reserve bank. It hands out “loans” to the government, the government never really has to pay them back. (it’s called national debt)
Ending the existence of the dollar seems to be the only real way to take a money-printing machine out of Trump’s hands.
I’m not saying this lightheartedly, just considering the options.
Trump is not yet in charge of the Federal Reserve. That may change depending on what his goons in Congress and the Supreme Court do, but for the time being, even if Trump says “I ORDER the Fed to buy $1 trillion in TrumpBonds”, Powell can say “I’m good” and there’s not much he can yet do about it.
I guess the dollar might need to end, but for different reasons.
As long as Trump is in power, he can in principle just print as many dollars as he wants to and spend them on what he likes.
The mechanism is by (ab-)using the Federal Reserve bank. It hands out “loans” to the government, the government never really has to pay them back. (it’s called national debt)
Ending the existence of the dollar seems to be the only real way to take a money-printing machine out of Trump’s hands.
I’m not saying this lightheartedly, just considering the options.
This is called debt monetisation and has been forbidden by law in the US since 1981.
well then it’s good that Trump always adheres to the law
Trump is not yet in charge of the Federal Reserve. That may change depending on what his goons in Congress and the Supreme Court do, but for the time being, even if Trump says “I ORDER the Fed to buy $1 trillion in TrumpBonds”, Powell can say “I’m good” and there’s not much he can yet do about it.
Assuming that Trump fires Powell