MOVEMENT AWAY FROM DEMOCRATIC NORMS IS TANTAMOUNT TO A MOVEMENT AWAY FROM THE DOLLAR

 

There is an undeniable movement occuring in the Democratic West towards Strong Man Style Fascism.  Netenyahu's judicial reform in Israel, the Reich Citizens movement in Germany, and the trashing of the US Judicial System by those who disagree with it enforcement policy are all symptoms of the same disease.

According to a recent Axios poll 35 percent of Americans would prefer an autocrat to a democratically elected leader - if the autocrat more closely represented their personal views.  The figures in recent polls are even higher in many European countries. (Source: https://www.axios.com/2022/09/12/two-americas-index-democracy)

I think what many pro autocratic Americans don't really understand is that without the support of a powerful Democratic Judicial System the Dollar as a reserve currency would be toast.  (that's a technical economic term.)

If US economic contract law were subject to the whims of an Autocrat nobody would trust the dollar as a settlement currency.

Already, carpricious trade wars, tarrifs and sanctions have damaged the dollar in ways the average American has yet to understand.

It is difficult to overestimate the damage that the loss of reserve status for the dollar would do to a country the is carrying 30 trillion dollars worth of Sovereign Debt and another 70 trillion dollars worth of Unfunded liabilities.

If you think inflation is now a problem and can't see what the loss of reserve currency status would do to the US and Global economy, I'm afraid you have a very limited imagination.

The problem we are facing now is that most every country on earth is already anticipating the effects of this anti deomocratic movement on the dollar.

A slow but perceptible shift away from the dollar is occuring all across the globe.

It is not too late to return to an embrace of democracy.  That would help.  But the problem is complex and sure to get worse before it gets better.

And the only hedge against it for the priviate citizen is storing wealth in hard assets.

That is a verdict with 5000 years of human history to support it.