berean jones on Nostr: There's a lag between 'printer go brrrrr' and inflation go weimar'. ...

There's a lag between 'printer go brrrrr' and inflation go weimar'.

quoting
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I've been concerned that foreign countries are moving away from the USD (I don't blame them. I would if I was them.) The US has been able to print money without massive inflation because the countries of the world hold USD in reserve for purchasing internationally (especially oil). Until the money moves, it doesn't decrease the purchasing power. Slowly nations, ie. BRICS, are moving to bilateral agreements and stopping using USD for trade. They will be needing less and less dollars for purchases and will therefore stop holding dollars. As the USD comes home and we have a huge amount of dollars chasing limited goods, inflation is going to sky rocket. We could even get inflation approaching Argentinia, Zimbabwe, and Weimar Republic levels.

Losing the petrodolllar agreement with Saudi Arabia could be the straw that breaks the camel's back. I hope not, but things are definitely heading in the wrong direction.
#grownostr #petrodollar #economy #inflation

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