Trump Won’t Kill America, Bitcoin Will
Brett Cenkus
1.4K83

Eh, the description of the US dollar is more than a bit inaccurate. Nation states with their own currencies, who’s debts are denominated in said currency really cannot be functionally insolvent (unless by their own doing, like debt ceiling). The assets to liability ratio you quoted is wildly inaccurate. The United States has the sole right to tax 23% (roughly) of the worlds production, as well as sell bonds into the largest global bond market in the world (by an order of magnitude). The US dollar also gains value also from demand outside of the US. Often when companies work internationally, say a Indian bank setting up a contract in Thailand, they will usually price the contract in dollars. That’s what Euro-dollar markets are. The US dollar is strong because the business that is transacted in it is extensive. National Debt doesn’t functionally threaten that.

Like what you read? Give advt a round of applause.

From a quick cheer to a standing ovation, clap to show how much you enjoyed this story.