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Fed chairman warns of 'unthinkable' harm ?
These appointed Idiots in The Federal Reserve along with Congress's rubber stamp to approve raising the debt ceiling every 2 years is outrageous! We always pay our bills with Fiat reserve currency is soon to change with the gold back currency coming online soon for international trade.Only a war with Iran can stop it and only if we win here in The USA against China,Russia, and other Bric's nations.
serf
https://thehill.com/policy/finance/452609-fed-chairman-warns-of-unthinkable-harm-if-debt-ceiling-isnt-raised
Fed chairman warns of 'unthinkable' harm if debt ceiling isn't raised
Federal Reserve Chairman Jerome Powell said Thursday that the global economy could suffer ?unthinkable? damage if the White House and Congress fail to raise the federal debt limit.
Testifying before the Senate Banking Committee, the Fed chairman said it was ?essential? for Congress to raise the legal limit on the federal debt before the U.S. government defaults on its loans.
?We've always paid our bills, and it simply must happen that Congress raises the debt ceiling in time to allow that to happen,? Powell said.
https://www.thestar.com.my/business/business-news/2019/06/03/revisiting-goldbacked-east-asian-currency/
The BRICS nations have discussed their own currency to compete with the US dollar. For instance, both Russia and China took steps toward so-called ?de-dollarisation? with the opening of a yuan clearing bank in Russia.
They have openly complained that the US dollar is no longer able to fulfil its role of global currency.
Meanwhile, China, Russia, Iran and Turkey ? the four key vectors of ongoing Eurasia integration ? are investing in bypassing the US dollar on trade by any mechanism necessary. To replace the US dollar may not be so simple. Russia and China plan to ditch the US dollar and switch to local currencies in international trade. But the setback for the new payment infrastructure shows just how difficult it is to shift away from the US-dominated status quo. The process of introducing an Asian common currency will be a long-term endeavour, requiring strong political will within the region and considerable time and effort.
serf
https://thehill.com/policy/finance/452609-fed-chairman-warns-of-unthinkable-harm-if-debt-ceiling-isnt-raised
Fed chairman warns of 'unthinkable' harm if debt ceiling isn't raised
Federal Reserve Chairman Jerome Powell said Thursday that the global economy could suffer ?unthinkable? damage if the White House and Congress fail to raise the federal debt limit.
Testifying before the Senate Banking Committee, the Fed chairman said it was ?essential? for Congress to raise the legal limit on the federal debt before the U.S. government defaults on its loans.
?We've always paid our bills, and it simply must happen that Congress raises the debt ceiling in time to allow that to happen,? Powell said.
https://www.thestar.com.my/business/business-news/2019/06/03/revisiting-goldbacked-east-asian-currency/
The BRICS nations have discussed their own currency to compete with the US dollar. For instance, both Russia and China took steps toward so-called ?de-dollarisation? with the opening of a yuan clearing bank in Russia.
They have openly complained that the US dollar is no longer able to fulfil its role of global currency.
Meanwhile, China, Russia, Iran and Turkey ? the four key vectors of ongoing Eurasia integration ? are investing in bypassing the US dollar on trade by any mechanism necessary. To replace the US dollar may not be so simple. Russia and China plan to ditch the US dollar and switch to local currencies in international trade. But the setback for the new payment infrastructure shows just how difficult it is to shift away from the US-dominated status quo. The process of introducing an Asian common currency will be a long-term endeavour, requiring strong political will within the region and considerable time and effort.
Comments
Could be a war instead. Turkey just took delivery of a battery S-400 missile systems from Russia and there will be sanctions against them and they are in NATO? Putin is also hopping mad about nuke short-range missiles in Romania & Bulgaria. Then China is pissed about us selling weapons to Taiwan so a new polarity is set in place and when Trump with Israel attack Iran possibly this fall there will be world Chaos for all.
The bloated national debt along with a limited nuclear war will destroy The US dollar and American's hegemony forever, in my opinion, let's all hope here I am wrong on this assessment.
serf
Are we really paying our bills, if we already owe a kabillion dollars?
What, exactly, are we paying our bills with?