@chazzmoe

In fact, America right now is exporting enough knowledge and have enough army and influence to make countries forget about paper (it is more like electrons, not paper).

@chazzmoe

I suggest you to read my words. :-)

Your saying we use war to keep the dollar the reserve currency?

At least history states that you used war to make dollar reserve currency :-)

Lol at the government needing to take 30-45% of Every workers pay to have roads and warren buffet bought the rail so no worries there. The taxes on gas is supposed to pay for roads but now it gets used for other things too.

man, peter schiff is kind of a hack. any financial guru who consistently loses money for his clients should be a laughing stock pretty quickly, and he is. he's hardly a real economist.

@chazzmoe - it's always concerning to read about someone who claims to have their own essential view of the world which no one else can verify and the only claims that are made successfully are ones that are interpreted after the fact. why is it concerning? because then no real conversation can occur because the other participant has already constructed their reality a priori.

this is a guy who writes a book about investing your money in foreign stocks because the dollar is going to go down, then states it's too complicated to invest in foreign stocks so you should really find an expert (like the author of the book) to invest with. and then the investments he takes in lose around half their value because he invests the money poorly and his predictions aren't correct.

if you're interested in the economics, read this article.

@vitaliy_kiselev - what that video doesn't account for is what if instead of breaking something that was already functional (like a window) you build something new that has productive usefulness? that's essentially what public works are, and they're way better at stimulating economic growth than a lot of other tools in the kit, such as a broad tax cut (which often is just used to pay down debts, or saved). maybe tax cuts are good for other reasons (and certainly they are), but there's certainly a usefulness in having that tool available (aren't roads nice to have?).

It has to take from someone first before it can "stimulate". Either through raising taxes or printing money which causes inflation which people pay for with higher food/energy prices.

If it had been truth any development had been impossible, same for monetary base increases without exact same inflation. So, it is wrong and flawed view.

Btw, it is most common for so called Austrian school (zerohedge fanboys are good example).

I like Austrian school! Makes the most sense! :)

I'm glad I'm am poor, I don't have to worry about economy too much! I agree on the totalitarian global rules, will probably be implemented through the guise of "security" and people will willingly except it. No good outcome either way. World leaders are excited for more war it seems. Anyway thanks for the chat my friend.

U.S. currency is already on the way out as the reserve currency. The recent BRIC conference was done for the sole purpose of establishing a method to remove the dollar as the reserve currency. They accomplished this purpose. The Austrian mentality pops up during recessions because its when the populous is reminded of what a artificially stimulated currency can do in the bad times. Austrian may move society forward slightly slower during the boom times, but there is far more consistency over time. Also has benefits of promoting savings and strengthening currencies.

The military won't be able to keep the dollar as reserve currency this time because the American people don't want war.