[–] ARsandOutdoors [S] 0 points 1 point 1 point (+1|-0) ago
[–] ARsandOutdoors [S] 0 points 2 points 2 points (+2|-0) ago (edited ago)
I'm big into finance and history of finance. I'm concerned that the Central banks across the world are stockpiling gold, instead of purchasing bonds from other central banks, of which have essentially an "unlimited" balance sheet. The world is awash in cash, because you have to convert to dollars to purchase oil we've been able to offshore the inflation. With interest rates rising, it's costly to hold US cash, harder to service your debts. The globe seems to be preparing for the end of the dollar-reserve and swift system. At this point America's debt can be weapon(ized?) against them.
[–] GunsSaveLives 0 points 1 point 1 point (+1|-0) ago
This is accurate. Sadly. And the only thing backing the money is IOUs by the U.S. government to the Federal Reserve Bank, and - get this - the IOUs themselves are to be paid with U.S. dollars. If the government ever paid off all of the national debt our financial system would crumble.