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Politics : Foreign Affairs Discussion Group
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To: Arran Yuan who wrote (281469)11/15/2020 5:55:26 AM
From: Sun Tzu  Read Replies (1) of 281500
 
FYI, the loss of USD as a reserve currency will be the nail in the coffin of one of the 3 key factors mentioned here: Message 33040075

That is why I was mentioning it. Though I had not read the article, my thoughts were along the same lines. About 15 years ago my friend and I independently estimated the value of reserve currency to be $500B to the government. So its loss will be a major hit to what the government can do.

But even if the USD remains the reserve currency (unlikely) I cannot fathom a situation over the next decade or two in which the government actually balances its budget, let alone pays down the debt. So the restrained government part is pretty guaranteed.
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