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Sr. Price.... debt-free money and war
Dream Money; .:Plata:.
The Bretton Woods agreement meant that the various signatories could NOT print domestic currency unless they had dollars as reserves.
The Bretton Woods agreement meant that America could not print dollars unless it had gold to back them.
As their economies grew, the various States had to have more and more dollars to print domestic currency,,, to service their internal economy. They demanded more and more dollars and, sold us stuff to get those dollars.
"In a few words, it turns out that in order for the international monetary system established at BrettonWoods to function, the US is forced to run a permanent trade deficit with the rest of the world. Year after year, the US must purchase more from the rest of the world, than what the US sells to the rest of the world, thus creating a permanent flow of dollars to the rest of the world. This flow makes possible the creation of Monetary Reserves in the Central Banks of the rest of the world."
"Without this constant flow of dollars from the US to the International Reserves of the Central Banks of the world, the currencies issued by those Central Banks would cease to exist. "
"In order to obtain dollars, it is necessary to sell to American customers some product at a lower price than that demanded by an American producer. It is self-evident that there is no other form of introducing an export into US territory, than by means of underselling an American competitor.
This is the reason why a large part of what was once the great American manufacturing industry has disappeared: the overwhelming need of the rest of the world to export to the US, in order to obtain dollars, caused the deindustrialization of the US."
"It is quite unjust to blame the rest of the world for having caused the deindustrialization of the US, and to point an accusing finger at Mexico, for instance, as an enemy of the US because it has been a successful exporter of manufactures to the US. Mexico has simply been operating according to the rules established by the US itself in the Bretton Woods Agreements: the dollar is the world's currency, and at all costs, it is imperative to have dollars in order for Mexico to have a monetary system."
.:Plata:.
"In order to obtain dollars, it is necessary to sell to American customers some product at a lower price than that demanded by an American producer. "
50% of the cost of any item is for financing. 19% for trash collection.... 78% for public housing. The Yuan was too immature and China needed dollars to run it's economy. Since everything in America had a 100% markup, the Chinese could structure their credit system so that they could sell for much less. They also had a much lower labor cost.
The Chinese undercut the American labor costs.
The Chinese undercut the American finance costs.
There has been reams written about how China killed American manufacturing.
But, American manufacturing is much more efficient that Chinese manufacturing. If the Chinese government continues to print whatever money the producing economy needs, they can always undercut our financing costs. This is contingent on them printing debt-free money.
There has been plenty of research on debt-free money, http://www.monetary.org/wp-content/u...per-latest.pdf
American colonial currency was debt-free money, Randy Wray: American Colonial Currency (Debt Free Money, Part 4) | naked capitalism
Japan carries HUGE amounts of GOV debt. As long as it just stays on GOV books, it is essentially debt-free money. Ellen Brown claims that Japan has created debt-free money in a "stealth" manner.
The European bankers have attacked every State that used debt-free money. But, the power of the U.S. military is insufficient to take on the united Eastern front.
After the collapse of the Breton Woods agreement in 1971, the American hegemon made an offer to Saudi Arabia that they couldn't refuse. The petro-dollar was born and dollars were much in demand again. Iran, Russia and China are bypassing the dollar for trade. Pox Americana is rattling sabres at all of them. When the sovereign bond market collapses, the threats of war will ring even-more hollow.
Europe is toast,,, the West is toast. The only way to escape is to JUDICIOUSLY create debt-free money.
Dream Money; .:Plata:.
The Bretton Woods agreement meant that the various signatories could NOT print domestic currency unless they had dollars as reserves.
The Bretton Woods agreement meant that America could not print dollars unless it had gold to back them.
As their economies grew, the various States had to have more and more dollars to print domestic currency,,, to service their internal economy. They demanded more and more dollars and, sold us stuff to get those dollars.
"In a few words, it turns out that in order for the international monetary system established at BrettonWoods to function, the US is forced to run a permanent trade deficit with the rest of the world. Year after year, the US must purchase more from the rest of the world, than what the US sells to the rest of the world, thus creating a permanent flow of dollars to the rest of the world. This flow makes possible the creation of Monetary Reserves in the Central Banks of the rest of the world."
"Without this constant flow of dollars from the US to the International Reserves of the Central Banks of the world, the currencies issued by those Central Banks would cease to exist. "
"In order to obtain dollars, it is necessary to sell to American customers some product at a lower price than that demanded by an American producer. It is self-evident that there is no other form of introducing an export into US territory, than by means of underselling an American competitor.
This is the reason why a large part of what was once the great American manufacturing industry has disappeared: the overwhelming need of the rest of the world to export to the US, in order to obtain dollars, caused the deindustrialization of the US."
"It is quite unjust to blame the rest of the world for having caused the deindustrialization of the US, and to point an accusing finger at Mexico, for instance, as an enemy of the US because it has been a successful exporter of manufactures to the US. Mexico has simply been operating according to the rules established by the US itself in the Bretton Woods Agreements: the dollar is the world's currency, and at all costs, it is imperative to have dollars in order for Mexico to have a monetary system."
.:Plata:.
"In order to obtain dollars, it is necessary to sell to American customers some product at a lower price than that demanded by an American producer. "
50% of the cost of any item is for financing. 19% for trash collection.... 78% for public housing. The Yuan was too immature and China needed dollars to run it's economy. Since everything in America had a 100% markup, the Chinese could structure their credit system so that they could sell for much less. They also had a much lower labor cost.
The Chinese undercut the American labor costs.
The Chinese undercut the American finance costs.
There has been reams written about how China killed American manufacturing.
But, American manufacturing is much more efficient that Chinese manufacturing. If the Chinese government continues to print whatever money the producing economy needs, they can always undercut our financing costs. This is contingent on them printing debt-free money.
There has been plenty of research on debt-free money, http://www.monetary.org/wp-content/u...per-latest.pdf
American colonial currency was debt-free money, Randy Wray: American Colonial Currency (Debt Free Money, Part 4) | naked capitalism
Japan carries HUGE amounts of GOV debt. As long as it just stays on GOV books, it is essentially debt-free money. Ellen Brown claims that Japan has created debt-free money in a "stealth" manner.
The European bankers have attacked every State that used debt-free money. But, the power of the U.S. military is insufficient to take on the united Eastern front.
After the collapse of the Breton Woods agreement in 1971, the American hegemon made an offer to Saudi Arabia that they couldn't refuse. The petro-dollar was born and dollars were much in demand again. Iran, Russia and China are bypassing the dollar for trade. Pox Americana is rattling sabres at all of them. When the sovereign bond market collapses, the threats of war will ring even-more hollow.
Europe is toast,,, the West is toast. The only way to escape is to JUDICIOUSLY create debt-free money.
They often refer to "animal spirits" that motivate and modify markets. Is there a sub-discipline of "animal spirits" that seem to be so important to markets? 
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