Dollar dominance through humiliation. They humiliate themselves by being involved in various debacles. Paradoxically this strengthens the dollar. This is similar to how 1+1 does not necessarily equal 2 in the quantum world. The war with Iran looks like a disaster, but when viewed through the prism of quantum philosophy it's transformed into its opposite.
Perhaps you could write a piece about his economic determinsm or economic determinsm in general? From what little I know he was suprised by the behavior of banks that brought on the GFC. He hadn't wanted to sufficiently regulate banks because he thought market mechanisms would force them to eliminate criminality because it wouldnt be good for business.
In other words, he thought that the market was like a giant clock that you wind up and it just works by itself. Similar to how many philosophers viewed the universe in the eighteenth century.
Greenspan viewed the world like this despite quantum mechanics and indeterminancy having been discovered somewhere around the middle of the twentieth century.
The emperor Trump seems to take after the emperor Tiberius.
Suetonius, The Twelve Caesars.
'He acquired a reputation for still grosser depravities that one can hardly bear to tell or be told, let alone believe. For example, he trained little boys (whom he termed tiddlers) to crawl between his thighs when he went swimming and tease him with their licks and nibbles; and unweaned babies he would put to his organ as though to the breast, being by both nature and age rather fond of this form of satisfaction. Left a painting of Parrhasius's depicting Atalanta pleasuring Meleager with her lips on condition that if the theme displeased him he was to have a million sesterces instead, he chose to keep it and actually hung it in his bedroom. The story is also told that once at a sacrifice, attracted by the acolyte's beauty, he lost control of himself and, hardly waiting for the ceremony to end, rushed him off and debauched him and his brother, the flute-player, too; and subsequently, when they complained of the assault, he had their legs broken.'
@alon_mizrahi Hubris rearing its head again. When the hubris is incorrigible it eventually leads to the destruction of the person or country on question.
@TFMetals Why dont they just declare a price and peg silver or gold to that price? Since they can do anything they want to the paper price it would save time and money. It would also eliminate the need to lie and hold up the illusion that there is a free market.
@philippilk Do they have to trick it? Use proxies to buy up shares to hold up the price e.g., like the gargantuan appetite that the Camen Islands has for US Treasuries. Everything is a ponzi. The wonder is that goods can be exchanged for money produced by this system.
@IranObserver0 Bessent the old woman. Whenever I listen to him I get the impression that I'm listening to an elderly woman. The hair, the glasses, the shaky and unsure voice, etc.
@potassium_phd Those who benefit from this won't reform this market. The paper will become detached more and more from reality. One price on the screen and another on the black market. Everything screams that we are going in this direction.
@imetatronink@soclose2me In order to master the unruly torrent of life the learned man meditates, the poet quivers, and the political hero erects the fortress of his will.
Jose Ortega y Gasset
I was listening to the Sirius report and it was said that the mineral export ban on Japan is aimed at the USA. Previously, banned minerals were being smuggled through Japan to the US. Now this loophole is closed. The US was obtaining minerals that China had banned them from purchasing for dual-use.
@GoldGrumpGranpa I think that Central Banks know more than we do. Why have they been buying gold in record numbers if this asset class was a liability?