The USA is on the brink of bankruptcy and could lose reserve status. I think theyre 35 trillion in debt now. Why? They print too much money to fund all these proxy wars and to also prop up the housing and stock markets.
The U.S. has no other choice. Neither the Democrats or GOP has given
serious thoughts on reduction of the deficit let alone the debt. Harris has
even said she will pass tax-cut for the middle-class as president.
Democrats understand austerity measures aimed for
debt and deficit reduction will just benefit the Republicans
in the end. Remember how Clinton's surplus actually ended
up paving the way for Bush's tax cuts.
Putin had Kyiv surrounded. He could have taken them out. There is satellite imagery to support this. I think theres more long term strategy to backing off. Perhaps russia, China, Iran and the rest of BRICs want to play the long game and continue to bleed the USA dry using Ukraine, Israel-Iran, and China-Taiwan proxy wars?
Interestingly the strategy of NATO is for Ukraine to fight to the
last man so as to bleed Putin to his demise.
Russia can encircle and take out Kyiv but still won't be able to hold
on to occupied territories. I see a drawn-out perpetual conflict
to be more beneficial to the U.S. than Russia. Burden of the
support of Ukraine will gradually shift to NATO-Europe I believe.
Trump's return may end the conflict but only on the battlefield I
see zero chance Ukraine and Russia will make peace. The proxy
war will carry on into the future even if Trump can pull off
an armistice.
If the USA loses dollar reserve status, we are all screwed.
China and other members in BRICS are moving away from
the USD as the trading currency. But I don't see why China
wants its currency to dethrone the USD.
I believe the USD will remain world's reserve currency
for years to come. If depreciation of the USD is a concern
it won't make the loonie do any better. Debasement of the
loonie by Trudeau's reckless spending has more impact
on my financial security than Biden and sooner and later Trump
or Harris's deficit spending. It is Trudeau not Trump or Biden
who made me decide to convert a large portion of my
retirement saving from the loonie to gold and silver bullion.