I just was reading about the Triffin Dilemma, and was surprised to have never heard of it before. The reason I'm surprised is because in all my reading no one ever mentioned that this in fact was the reason why Nixon took the USA off the gold standard, as the Bretton Woods system could no longer work = outright fiat era. In another place I then saw that the empire or country who had the global reserve currency had a remarkably consistent run as the world currency leader until it became naturally destabilized and then the cycle started again, about 80-110 years depending on the time and empire:
![[Image: History%20of%20money.jpg]](http://www.zerohedge.com/sites/default/files/images/user5/imageroot/images/History%20of%20money.jpg)
![[Image: res%20history.JPG]](http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/02/res%20history.JPG)
Having learned this, I laughed, even being a questioner of the Fed and a guy who followed Ron Paul and his gold standard urging. Why did I laugh? The idea I was fed (no pun intended) or the conclusion that Nixon was just doing some nefarious or greedy US thing was totally untrue --- He was locked in and it was the only move at the time, at least politically for him.
Responsibility can counteract the Triffin Dilemma, I'm sure, but it seems to show that history repeating itself is almost natural law just based on how humans and governments are. It makes it look more like the global producers of goods have far more responsibility and potential management of their economies than the world reserve power does precisely because it becomes so "good" at maintaining its ability to produce its status: money.
I could go on, but it became even scarier when I realized that the likelihood is that in our lifetime the world reserve currency of the USA will be threatened and it will fall --- and at that time, the debt truly will mean something, because the money it produces isn't trusted anywhere near once it once was, and then the only option truly will be default. Standard of living will instantly plummet.
That seems to be the real reset that so many are talking about that will bring sanity (read: survival and its formation on society) back to the West, or at least, America.
Or, it will be the end of the world. (-:
Having learned this, I laughed, even being a questioner of the Fed and a guy who followed Ron Paul and his gold standard urging. Why did I laugh? The idea I was fed (no pun intended) or the conclusion that Nixon was just doing some nefarious or greedy US thing was totally untrue --- He was locked in and it was the only move at the time, at least politically for him.
Responsibility can counteract the Triffin Dilemma, I'm sure, but it seems to show that history repeating itself is almost natural law just based on how humans and governments are. It makes it look more like the global producers of goods have far more responsibility and potential management of their economies than the world reserve power does precisely because it becomes so "good" at maintaining its ability to produce its status: money.
I could go on, but it became even scarier when I realized that the likelihood is that in our lifetime the world reserve currency of the USA will be threatened and it will fall --- and at that time, the debt truly will mean something, because the money it produces isn't trusted anywhere near once it once was, and then the only option truly will be default. Standard of living will instantly plummet.
That seems to be the real reset that so many are talking about that will bring sanity (read: survival and its formation on society) back to the West, or at least, America.
Or, it will be the end of the world. (-: