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The US dollar is on track for its worst year in modern history

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124 points harambae | 1 comments | 04 Jul 25 06:47 UTC | HN request time: 0.205s | source
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FiniteIntegral ◴[04 Jul 25 07:21 UTC] No.44461991[source]▶
It really says something when the instability of the dollar is (relatively) as bad as when Nixon took us off the Gold Standard in 1973. Trump's policies certainly have caused a large amount of instability.
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zorton ◴[04 Jul 25 07:34 UTC] No.44462076[source]▶
It's easy to blame an individual administration but the reality is pure fiat currencies will always end in this way. When was the last time the US had a balanced budget? Clinton? If you don't have a constraint on printing new currency you will always print more.

A good example I heard today was this. Imagine if you have a legit money printer. Show me the most pure human and eventually they will hit that button and print new money. That's what we've been doing for a long time now to finance all the wars and bailouts.

https://fred.stlouisfed.org/series/M2SL

A good book: https://www.lynalden.com/broken-money/

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1. justinrubek ◴[04 Jul 25 15:48 UTC] No.44465547[source]▶
Oh we can happily blame every administration that did this. It may be the natural conclusion of this behavior but that doesn't mean we need to continually rush head first into trouble. The current administration absolutely needs to shoulder more scrutiny than the past ones because they are actively making decisions. They don't get a pass just because the others did it too.