So I've watched this video that basically tries to explain how the world economy works today and how it got here, and I'm not sure I understand it correctly.From what I can understand from it, the current financial system of the world is basically built on America's bluffs over its economic strength. But that doesn't seem right to me. There's no way we're all living on a bunch of bullshit promises. And if it's true then this seems like a really volatile system, a collusion between China and Saudi Arabia, for example, to sell all their US government bonds would effectively take down the US dollar and the WHOLE world economy with it. But this just sounds so retarded, basically sitting on a bomb hoping no one decides to light the fuse.
Your assessment is based on the assumption that the United States gives even a single fuck what countries like China do, financially speaking.
>>517685220>There's no way we're all living on a bunch of bullshit promises. And if it's true then this seems like a really volatile system, a collusion between China and Saudi Arabia, for example, to sell all their US government bonds would effectively take down the US dollar and the WHOLE world economy with it. But this just sounds so retarded, basically sitting on a bomb hoping no one decides to light the fuse.Yes
>>517685220>There's no way we're all living on a bunch of bullshit promisesthat's all that "currency" is. just a promise that in the future you'll get >labor>resource(s)that's literally all that the "US Dollar" is. it's only as strong as the strength of the above.
>>517685785Adding more and more layers of promises doesn't seem like a very good idea to me though. Like when the U.S. dollar was on the gold standard it made perfect sense. Gold is actually rare and accepted as valuable. But the current set-up is just a headache that seems needlessly complex and dangerous.
>>517685220COLLAPSE
>>517685220> From what I can understand from it, the current financial system of the world is basically built on America's bluffs over its economic strength.Correct, everyone has figured out it’s nothing but a made up jewish house of cards.
>>517685662It's hard work, and trillions of dollars to undertake. It's better to just let America run the casino and skim off the top, unless they somehow were to become erratic and untrustworthy.Imagine that. That would never happen haha
>>517685220the economy works like it has always worked, every country has natural resources and that's the "source" of financial wealth things are traded for those resources, countries without the resources have to get creative and make techslop, but really everything is mostly just a facade to cover for the fact that raw resources drives everything including wealth, institutions, trade unions etc. are all setup by smaller weaker powers to try and funnel resource wealth in their direction
>>517685220Yes, that's basically correct. The reason nobody calls bullshit on this is because a) other countries hold lots of American assets (both private investments and government bonds), and b) cross-border transactions are largely conducted in USD (especially for petroleum, hence the "petrodollar"), so if the USD collapses everyone else gets fucked too. Another element of this is that the way the economy keeps going is largely by the government printing money, which it then gives to private banks, who then loan it out, which in simple terms means that investors get rich at the expense of workers getting poorer (because the process devalues their wages, which don't rise as fast as the inflation which the money printing produces). So basically American capital stays in power by vampirically leeching off both the rest of the world and its own citizenry
>>517689552How has this system not yet blown up in America's face yet? All it takes is just 1 bad actor, doesn't even necessarily have to be a whole country, just a Lenin someplace in the world could probably damage this system.
>>517685450
>>517689784Did you not read his post carefully?>>517689552>The reason nobody calls bullshit on this is because a) other countries hold lots of American assets (both private investments and government bonds), and b) cross-border transactions are largely conducted in USD (especially for petroleum, hence the "petrodollar"), so if the USD collapses everyone else gets fucked too.Everyone on it BENEFITS from the way the system works, nobody is going to do anything to sabotage the way it works because they're ALREADY rich, they can't become even more richer by destroying it. The slaves are ALREADY working for them for peanuts. The land and resources are ALREADY in their control.WHY THE FUCK WOULD ANYONE TRY TO BLOW IT UP??? LIKE ARE YOU A UTTER RETARD OR SOMETHING???That's why someone who is NOT benefiting it is able to destroy it, but you need to know how it works and what are its weak spots and how to attack these weak spot and you need enough people to actively fight it.You know why NEETs, NPNW, SETF, sign tappers, and several others and their ideas are constantly attacked? It's because they attack the system and destabilize it in various ways. All you need is to have more people actively do this.You may think something like SETF is aimed only at american citizens, but it's having a similar impact if europeans and even russians do it.
>>517685220>There's no way we're all living on a bunch of bullshit promisesConfidence is the mortar that holds ANY economy together. Paper, Gold, Wampum, handjobs, it doesn't matter, currency in and of itself is worthless. The confidence comes when you get paid with X you are 100% sure you will be able to buy something with X. The US dollar is basically a lingua franca in in terms of confidence, doesn't matter where you go in the world, the US dollar WILL get you something.>But anon, why does everyone use the dollar?Few reasons:1. Initially after WW2, the US was the only functional economy left, countries pegged their currency to the dollar, and the dollar was pegged to gold. Basically being able to have the gold standard without the gold.2. Even without the gold, the inertia of the US economy guaranteed it would always have value.3. Petrol got traded in dollars, which further solidified its status.4. We will basically kill you if you decide to use something else>but anon, what if everyone in the world decided to use something else?There's literally no alternatives. Euros? Solid economy, they don't have the military to back it if someone else decides to switch. Yuan? If you decide to do so see point #4 above. Gold? Probably the default if the dollar goes to shit. The powers that be have decided its a lot more trouble switching to it than it would be to just tolerate the dollar Since they're also dependent on the dollar, you have a sunk-cost/ponzi scheme going on which makes the switch difficult.
