I watch a lot of videos by Jeff at Eurodollar University. He actually has an amazing video from just Friday where he talks about why the jobs numbers were so high. When you dig into the data, all those jobs are likely just a reflection of the US all of a sudden finding more citizens, and this number is hence just an adjustment. https://www.youtube.com/@eurodollaruniversity/videos But staying on topic, he actually makes the case of there being a huge shortage of US dollars overseas, which is the Eurodollar system. It really is interesting to think that although we all talk about the US being a shit currency, the world doesn't have enough US dollars. And this is something that the ES Fed has no control over. This is why they set up all these swap lines and other programs to other countries. They are trying to prevent a meltdown I guess since the need for US dollars is so strong but they don't issue dollars outside of the US. So for the short term, I can see how the USD isn't going anywhere. But certainly, if more trade is done outside of the USD, then this means less demand in the future. This can although be seen as a positive because the US is in a tricky position in that it won't have to try and balance the entire world's need for dollars. But on the flip side, we certainly are at a very interesting point. If nothing happens with interest rates, (ie. they stay where they are), and if all of a sudden the books are balanced (impossible), the longer this goes on for, the more of the debt is rolled over at these higher rates, and there is no way in hell it can be paid off. The interest expense gets to be a bigger and bigger portion of US spending each month. Tax receipts will likely not keep up, so making payments is difficult, never mind even lowering the debt. We of course hear how the bond market is pricing in a drop of interest rates going forward, but I bet Powell is very worried about an uptick in inflation, just like in the 80's after rates were dropped too soon. Jeff in his videos outlines that things are drastically wrong and we are already well into a recession, but with strong jobs and just a softening of inflation, most don't really see it. My point to all this is that we are at a very interesting juncture. Its like walking on a tight rope. You can maybe balance for a little while longer, but if doesn't matter if you fall to the left or right, its a long way down either way. Inflating away the debt, not to really pay it off but just to manage another year is almost something that can't really be done with these interest rates where they are, and dropping them too quickly will I'm sure signal recession and hence make it even deeper. So its gonna be fireworks going forward!
Well now that he's proven that BTC is always propped up no matter what happens, I might, JUST might buy and hold some of it when it drops to $16K a piece. If they are going to be artificially manipulating the price of a currency that can potentially become legal tender one day and is supposed to have its value determined solely by its limited quantity, then I might as well make it more expensive for them to do so. LOL
At the risk of going off-topic, the non-farm payroll job number is highly unreliable and with a high possibility of being manipulated. It measures the same non-farm employment as the ADP number with the only difference between them being that the non-farm payroll includes government jobs and yet the numbers each month are vastly different. Never knew that the government jobs in America is that unstable. LOL
A roundabout answer is that they will continue to inflate (debase) the value of the US $. The "free market" is already recognizing this when we see India talking about doing trades with non-USD currencies China a few years ago decided to get away from the ponzi-esqe economics of the USD and started using their $ to partner or issue debts to countries with natural resources, in Brazil, Australia, Africa, or they would start owning infrastructure like in Sri Lanka Colombo airport The real value is from hard commodity asset like copper, oil, infrastructure, things that cannot be printed by the Fed or other central banks Higher inflation for the suckers at the poker table who thinks acquiring and accumulating the USD while the ones in charge are busy running the printer full speed If only regular people had a way to opt out of this fiat ponzi, oh wait, something something Bitcoin and crypto assets Gold and silver are manipulated by the banksters JPM with blessings from the US gov
There are over 13 Trillion Eurodollars but I've never seen a Eurodollar coin or 100 Eurodollar note Yea, even the Fed doesn't control the printing of US $ through $-based debts issued overseas The great export of the US is inflation. Money printer go brrr in the US, the rest of the world feels the inflation as commodities hard assets I mentioned above are priced higher and higher against the US $ Hardships everywhere in Peru, Lebanon, Sri Lanka and many more
You think I can't afford a dollar? It's more about time to read other peoples crap. Stupid comment, but it's normal for anything coming out of your mouth...