• N0t_5ure@lemmy.world
    link
    fedilink
    arrow-up
    35
    ·
    1 day ago

    There is a reason that gold is at an all-time high (~$3735). Even adjusting for inflation, it is higher than the 1980 peak following stagflation from the 1970s. Moreover, central bank purchases have been the backbone of the current gold market, with central banks now holding more gold than U.S. treasuries, something that hasn’t been the case since 1996. We’re witnessing the demise of the dollar as the world’s reserve currency in real time.

    • UnderpantsWeevil@lemmy.world
      link
      fedilink
      English
      arrow-up
      10
      arrow-down
      1
      ·
      1 day ago

      There is a reason that gold is at an all-time high

      Yeah, loose monetary plus goldbug speculation. The spread between gold and silver, for instance, has been widening while gold and platinum contract.

      We’re witnessing the demise of the dollar

      We’re witnessing the reemergence of a multi-polar world. The dollar will take a hit. It’s not the end of dollarization.

      • gandalf_der_12te@discuss.tchncs.de
        link
        fedilink
        arrow-up
        4
        ·
        19 hours ago

        We’re witnessing the reemergence of a multi-polar world. The dollar will take a hit. It’s not the end of dollarization.

        the thing is that if the US really goes through balkanization, that puts an absolute end to the US dollar.

        • UnderpantsWeevil@lemmy.world
          link
          fedilink
          English
          arrow-up
          2
          ·
          18 hours ago

          if the US really goes through balkanization

          The US isn’t composed of geographically well-defined socio-ethnoc groups. There’s no bright line you can draw between Liberals and Conservatives, as evidenced by the number of “swing” states and the absurd lines you have to draw in order to gerrymander populations.

          Lincoln was right. We’re a nation that can be one thing or another. But a divide will not stand. Trying to put Texas and California and New York and Florida into separate counties won’t work any better today than it did in the 18th century.

          • ubergeek@lemmy.today
            link
            fedilink
            English
            arrow-up
            1
            ·
            6 hours ago

            That’s not true, like at all.

            There is a world of cultural difference between NY residents, Texas residents, and Oregon residents.

            In fact, there’s about 5 distinct socio-economic regions in the US.

            • UnderpantsWeevil@lemmy.world
              link
              fedilink
              English
              arrow-up
              1
              ·
              5 hours ago

              There is a world of cultural difference between NY residents, Texas residents, and Oregon residents.

              There is a world of difference between Houston’s Third Ward, River Oaks, and Spring. Nevermind the difference between Sugar Land, The Woodlands, and Pearland. Or Austin, San Antonio, and San Angelo.

              Where do you draw the line? Even Republican gerrymandering experts struggle with this question.

              In fact, there’s about 5 distinct socio-economic regions in the US.

              Far more than that, if you’re looking closely

              • ubergeek@lemmy.today
                link
                fedilink
                English
                arrow-up
                1
                ·
                13 minutes ago

                No, its really about 5, distinct, socioeconomic regions in the US.

                For example, the Great Lakes Region, the Pacific Northwest, Plains Region, etc.

            • UnderpantsWeevil@lemmy.world
              link
              fedilink
              English
              arrow-up
              1
              arrow-down
              3
              ·
              17 hours ago

              The West Coast could be its own countr

              Guess which state has the largest population of Republicans. Now guess the state that donates the most to the GOP. Now guess the state whose residents make to the highest percentage of Trump’s cabinet.

              • xyzzy@lemmy.today
                link
                fedilink
                arrow-up
                9
                ·
                17 hours ago

                What a weird way to just say California is the most populous state. Guess which state has the most Democrats, leftists, and liberals. Also California!

                • UnderpantsWeevil@lemmy.world
                  link
                  fedilink
                  English
                  arrow-up
                  1
                  arrow-down
                  2
                  ·
                  17 hours ago

                  Guess which state has the most Democrats, leftists, and liberals.

                  Liberals in California are as owned by the corporate sector as their conservative peers.

                  Gavin Newsom isn’t coming to save you.

                  • aesthelete@lemmy.world
                    link
                    fedilink
                    arrow-up
                    6
                    ·
                    16 hours ago

                    I don’t think anyone was looking for a savior. I was just indicating that there are some states that are neatly divisible with aligned views and values: those on the West Coast.

                    It likely won’t happen for various reasons anyway, but it’s a pleasant thought.