Testing The Financial Apologists

As Phat likes to post links to videos from every random nutjob, here is an actual economist talking about the dollar.This is a gift link so you can access it.
Opinion | Is the U.S. Dollar Really in Danger? - The New York Times

quote:

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But the dollar has three big advantages. One is incumbency: Since everyone is already using dollars, it would take exceptional circumstances to get them to switch. A second is that U.S. financial markets are open: Unlike China, we don’t impose controls on people trying to move money into or out of the country. The third is the rule of law. Unless you’re a dictator planning to commit major war crimes, you needn’t fear that the U.S. government will impound your assets; in China, your assets may be at risk if you say something the strongman in charge doesn’t like.
Why, then, all the panicky commentary about the dollar? Well, I studied with Charles Kindleberger, and one of the things he told his students was that “anyone who spends too much time thinking about international money tends to go mad.” The global role of the dollar sounds important and seems mysterious; that makes it a natural subject for conspiracy theories and catastrophic thinking.

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In reality, however, the dollar’s role looks pretty secure — with one major caveat. I have no idea what will happen if, as seems all too possible, we end up defaulting on debt payments because a Republican House refuses to raise the debt ceiling. But it’s not likely to be good. Who will trust the currency of a nation that appears to have politically lost its mind?

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But if that happens, the threat to the dollar’s reserve-currency status will be the least of our problems.

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Yeah ever notice that the doom and gloomers are always trying to sell something.

I noted his information, but do not take it as truth....just informed opinion. We are in a war of ideologies and money itself is being tugged back and forth. One side wants government control of it while my side wants freedom to us it apart from what the government deems to be the standard

Money itself is nothing. Money is just a token that represents value. And value depends on the culture.A problem for conservatives, is that they tend to emphasize money itself, instead of understanding that it the represented value that is important.

Now that was a bullshit nonresponse
You epitomize the mindset of people my father warned me about.

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Don't confuse me with the facts. My mind is made up.

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You ever figure out what the G7 is? Care to explain what your comment about the G7 was supposed to mean? Or are you going to just ignore it and revive another zombie thread?

Now I have more time to actually read with comprehension, rather than shooting from the hip and reacting in the one hour I have before work every day! Let me think about all of this before I respond. *sips coffee* In my defense, the people whom I listen to are not nutjobs. I will give ground to Krugman, however. (He even talks about two of them--Robert Kiyosaki and Peter Schiff.)
Krugman then goes on to provide a link to Whatever happened to the inflation “Weimarists”? (Dan Indiviglio from Reuters) which I read. This was a 2013 article.

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Whatever happened to predictions the United States would soon experience Weimar Republic-like inflation? When the Federal Reserve kicked off its massive stimulus campaign, critics invoked this dark period of modern German history and its images of wheelbarrows full of valueless cash. Four years later, only the most stubborn hawks still fear such hyperinflation. Consistently low price growth has made Ben Bernanke’s easing look safe – so long as his exit works.

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As the Fed began to pour trillions of dollars into the economy to calm the financial crisis and resulting severe unemployment, inflation alarmists issued dire warnings. Some prominent investors like gold bug Peter Schiff said current policy could put the nation on a path to the sort of hyperinflation suffered by the parliamentary democracy that Germany adopted in the decade following World War I(...)While the most vocal “Weimarists” should have found it humbling to be so wrong for so long, they’ve not disappeared. It’s just that the establishment no longer pays them any attention. PIMCO co-founder Bill Gross, for instance, recently went bullish on low-yielding 10-year Treasuries, implying he must not be very scared of higher inflation hitting any time soon.

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So it would appear that recent history vindicates Bernanke. But as a modern economic historian, he’s smart enough not to claim “mission accomplished” yet. He has avoided inflation during monetary expansion – his exit must proceed with equal aplomb.

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Now, we are seeing the ramping up of inflation, though even our "Weimarist" Schiff now sees disinflation happening rapidly while prices are still high. The money supply expansion since COVID has evaporated (according to him) and we are now poised between two extremes...more inflation or deflation. The FED is indeed navigating between two narrow cliffs and is searching for an exit.
Krugman also quotes Robert Kiyosaki: Robert Kiyosaki Says 'America Is Dying' — Warns of Hyperinflation, Death of US Dollar and I must admit, these articles are reflective of the "random nutjob" videos you claim that I listen to. A week ago when I accessed your link, I was in so much of a hurry that I reacted without having read the article or the links thoroughly.Krugman then goes on to say:

NYTimes Opinion:

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And today’s Weimarists have a new argument. Recently a number of countries, alarmed or maybe just annoyed by what they perceive as the weaponization of the dollar against Vladimir Putin, have been taking at least symbolic steps to reduce the dollar’s role in the world economy. For example, China has asked oil producers to accept payments in yuan instead of dollars.
This has even relatively sober commentators like Fareed Zakaria warning that the dollar’s status as the world’s reserve currency is at risk. And losing reserve-currency status, many people imagine, would be an economic catastrophe for America.(...)In reality, however, the dollar’s role looks pretty secure — with one major caveat. I have no idea what will happen if, as seems all too possible, we end up defaulting on debt payments because a Republican House refuses to raise the debt ceiling. But it’s not likely to be good. Who will trust the currency of a nation that appears to have politically lost its mind?

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But if that happens, the threat to the dollar’s reserve-currency status will be the least of our problems.

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Krugman does appear rational and has heard the same arguments that I have bought into.The debt ceiling comment has me thinking. Some commentators have said that it is purely symbolic..and that the debt ceiling MUST be raised each time the issue comes up. I agree that only a clueless politician would challenge that necessity. I could only see the Republicans doing that in order to fight what they see as extremism regarding green energy versus hard asset energy such as natural gas and oil. That will likely be a major political talking point in the next elections.

My comments regarding the G7 were also reactionary, but they were based on Macron cozy-ing up to China and seemingly relegating the US to second place...a move which I saw ass a threat to future G7 stability. Make no mistake: China is not our friend...they are a hard nosed competitor who would have no problem upending our dominance. (regardless of how it hurts the US middle class)

What about the chinese middle class? They are the rising stars in this world. Do they not deserve any largess from their labors?

Of course they do, but the Chinese Communist Party wont simply share the benefits equally. Thats why I support Shen Yun. They know all too well what the CCP is all about.Don't tell me that your liberally brainwashed mind actually approves of Chinese Communism. Do some research.

There is no "one" culture. A cultural group has an ideology within that group, but does not necessarily speak for ALL groups--even if they happen to be in power at the moment. Liberals might suggest that the value of the money is based on what voters want "it" to do. Conservatives may argue that the market determines the value. And the market plays no favorites. If we have a Trillion dollars in the till and your ideology mandates spending it on green energy, my ideology may protest that government is overextending its reach by socking everyone with a common bill. What if I cant afford a new electric car? What if I agree with green energy in principle but do not agree with the pace by which it is being implemented? And what if we don't agree on what we should spend it on or what is or is not valuable? It is not ever a group decision when it affects ones private funds above taxation.And if anyone disagrees, how can you get mad at debt limit obstructionists who believe that eternally raising the debt limit is not in their best interests?

You do realize it is a cult, don't you?
Falun Gong - RationalWiki

No approval or disapproval.China is a fact on the ground and will be a big part of this planet's future political and economic structure for a long time to come. You fear the rising wealth of chinese society. You see them not as the vicious capitalist competitors they have become (trained by our example) but as enemies to make war against. Economic jealousy.Yeah, that's good for world stability.

You are as bad or worse than I am! You rapidly google one thing and if it agrees with your political views anyway, you run with it.Shen Yun is not a cult.Besides, I've heard that Leftism is a Cult!
6 Ways Leftism Acts Like A Religion

The Federalist:

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Leftism is not a political ideology anymore. It is a full-fledged religion complete with tithing, penance, forced confessions, iconoclasm, internet inquisitions, public rituals, excommunication, heavily policed virtues, sacred texts, seminaries, and online auto-de-fes.

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The proof is too plentiful to ignore. 

Here are the signs that we’re truly confronting a theocracy of totalitarian religious extremists.

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Conformity, Strictly Enforced Virtues, and Excommunication

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Inquisition

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Sins

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Penance

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Public Ritual

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Evangelization

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The progressive promised land is here now. This is our preview. It’s a hedonistic, puritan-fusion theocracy where you must be okay with the homeless shooting up or defecating on your street and be firmly committed to threatening people’s careers if they think all women are born with a vagina.(...)I do know, however, that I’m proud to be considered a heretic in their eyes.

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See how easy that is?

But what that claims is not true. Leftism(whatever that means) is not a cult by any stretch of any definition of the word. Falun Gong and it's offshoots do.

Just read your source. Lol.
The Federalist? Really? The author is a d list video producer with seemingly no expertise in politics or religion.
But most strikingly he never accuses leftism of being a cult but rather a religion. Also, he seems to think a religion is a cult before it grows up to be a religion.
Seemingly you agree with this guy's argument.
At no point does he posit that leftism is a cult. Did you read his screed? Or just find a title you thought would support your nutbaggery.