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Response to valerief (Reply #15)

Sat Mar 5, 2016, 12:35 AM

38. No, the US would lose its money entirely.

 

Unless you're older than 45, the US Dollar has never been even partially backed by gold in your life time. Ever since Nixon over-spent on the Vietnam War and decoupled US currency from gold, our dollar has had two reasons for its value. One is that it is the international standard currency for trade in oil and other valuable goods. But that reason only persists because of the second reason: US military strength regulates the norms, routes, and openess of all trade and shipping.

One might oppose further corporate power via trade deals like the TPP (As do I). One might wish to see the US act more judiciously and fairly to protect human rights over profit across the globe (I share this wish). But one cannot pretend that the US Dollar will be worth more than the paper on which it is printed if China starts controlling shipping and trade through the Pacific. Every grocery item we buy, every piece of electronics, every everything that we can afford is only affordable because the rest of the nations of the world trust the US to keep the system cranking, occasional glitches and frequent injustices notwithstanding.

When the right wingers tell us to thank a veteran because they protect our freedoms, they are partially correct. It's true that the US military has done little to explicitly protect Constitutional Rights, either at home or abroad. But the military has kept this government in liquid capital via the security, continuity, and power it projects across the globe.

I wish we had other measures of value behind our currency, but at present, we don't.

-app

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Arrow 57 replies Author Time Post
Agnosticsherbet Mar 2016 OP
valerief Mar 2016 #1
hack89 Mar 2016 #4
Hortensis Mar 2016 #41
Agnosticsherbet Mar 2016 #5
valerief Mar 2016 #9
Agnosticsherbet Mar 2016 #12
valerief Mar 2016 #15
LineLineLineLineLineLineReply No, the US would lose its money entirely.
appal_jack Mar 2016 #38
Hortensis Mar 2016 #42
randys1 Mar 2016 #27
NutmegYankee Mar 2016 #6
valerief Mar 2016 #10
NutmegYankee Mar 2016 #11
valerief Mar 2016 #14
NutmegYankee Mar 2016 #16
Nevernose Mar 2016 #17
valerief Mar 2016 #19
Nevernose Mar 2016 #24
Ghost Dog Mar 2016 #29
Hortensis Mar 2016 #44
TreasonousBastard Mar 2016 #18
valerief Mar 2016 #21
Calista241 Mar 2016 #22
TreasonousBastard Mar 2016 #23
LittleBlue Mar 2016 #28
valerief Mar 2016 #37
yeoman6987 Mar 2016 #7
Agnosticsherbet Mar 2016 #13
AgerolanAmerican Mar 2016 #25
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NickB79 Mar 2016 #39
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PoliticAverse Mar 2016 #51
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