If Trump takes over the FED, the US economy will go into an absolute tailspin and depression.
I think you’re completely underestimating what Trump taking over the FED could do.
he could literally print arbitrary amounts of money and spend them however he wants. it would basically make money meaningless, and we’d probably go back to trading goods-for-goods after a while, but short-term, it would give trump unlimited economic power and that is a very very very frightening thing.
it would basically make money meaningless, and we’d probably go back to trading goods-for-goods after a while
The barter system wasn’t ever a thing, Adam Smith was full of shit, and as long as the US government taxes us in USD, it’ll always be relevant to us.
I should go exchange all of my savings for a different country’s currency before the shit hits the fan, but I’m not even sure which country’s currency would make sense.
I think you’re completely underestimating what Trump taking over the FED could do. he could literally print arbitrary amounts of money and spend them however he wants. it would basically make money meaningless, and we’d probably go back to trading goods-for-goods after a while, but short-term, it would give trump unlimited economic power and that is a very very very frightening thing.
The barter system wasn’t ever a thing, Adam Smith was full of shit, and as long as the US government taxes us in USD, it’ll always be relevant to us.
I should go exchange all of my savings for a different country’s currency before the shit hits the fan, but I’m not even sure which country’s currency would make sense.
CAD, Europe, and Yuan make a lot of sense.
I don’t think we’d revert to barter, we’d just informally adopt another currency like the euro.
Or CAD for anyone up North
But they were already doing that with quantitative easing.