Solomon's parable about the dollar

One of the wisdoms that King Solomon of Israel commanded us in his parables, is that "the rich rule the poor, and the debtor becomes the slave of the lender." It should be understood this way: you can borrow money, but it is not good to remain a debtor.
This Solomon wisdom was challenged by commodity-money relations, and with the advent and flourishing of credit cards, mortgages and bankruptcies, it was decided to believe that being in debt like silks is not a vice, but almost a virtue. It seems that the helmsmen of our financial ship, who swum into the maelstrom of the national debt of 17,5 trillion dollars in depth, believe in it. That, apart from the minimum 100 trillions of dollars on unsecured liabilities.
It will take 10 years to pay 365 million dollars a day 4700 days a year to pay off XNUMX million dollars a day on XNUMX days, in the old fashioned way, to pay off foreign creditors and save Solomon’s face. Citing this simple digital display, as if taken from Jacob Isidorovich Perelman's “Entertaining Arithmetic”, Professor Ben Carson from the University of Washington John Hopkins believes that the only reason we as a state can afford it is the status of America as a world currency reserve. Simply put, the only legal owner in the world who prints dollars.
Professor Carson, to whom parents gave the middle name Solomon, explains that in olden days such status was usually assigned to a country with the most reliable and strong economy, and such status gave the United States the right to print not just money, but a world currency. A country with a frail economy like Greece would have saved that right from bankruptcy, but the national debt would continue to grow. Reflections on this topic are relevant especially now, after Russia in the person of President Putin threatened to move away from the dollar as a reserve currency in response to Western sanctions. The threat is serious, but if Putin does not convince other states to do the same, ruble Russia will suffer more than dollar America.
And yet this is no joke. In a recent article, Henry Kissinger called Putin "a serious strategist in Russian history," who is not good at understanding American values ​​and psychology, but he understands the vulnerability of the United States, which is aggravated by our tolerance for a completely unacceptable level of debt. Professor Carson warns that as a strategist, Vladimir Putin will take advantage of this at a favorable time for him. Actually, this was before, although in the purely post-Soviet space. Three years ago, Avery Goodman, a professor at the University of California at Los Angeles, wrote that “becoming the world's largest exporter of energy resources, the Russian government created currency reserves of 300 billions of dollars. More dollars he does not need. Russia, which for decades has readily agreed to pay in dollars, today quietly asks its partners to pay it in rubles. ”
The fault - because not at will! - The current administration prestige of the dollar fades along with the prestige of the United States. In 2010, the UN committee recommended a review of the global reserve currency policy, and China, to whom we owed 1,2 a trillion dollars last fall, talks about a departure from the dollar as a reserve and settlement currency. The same rebellious mood due to the instability of our financial infrastructure is visible in several more countries, including Russia, which America owes only 131 billion dollars.
Beating the Democrats for their willingness to plunge the country deeper into the debt trap, Republicans usually explain this with their concern for the coming generation of Americans who live under capitalism not built by them. Not at least we are talking about the national security of the United States. The loss of the status of the country with the most reliable currency in the world unleashes not only languages, but also the hands of the enemies of the United States and undermines the already eroded confidence of friends.
Without the right to print green papers with portraits of presidents and the motto that we still believe in Gd, the standard of living of Americans will go down, and the country will be in turmoil, compared to which the marches of bussines from the Movement of Wall Street will seem like tricks of twin girls from a Hollywood movie. Our primordial right to protest will exceed the permissible limits of what is permitted by the authorities - and off we go. Something like this was briefly talked about before the last presidential election, when it became known that the Social Security Administration bought 174 thousands of cartridges for the protection of its country office out of fear of mass riots in the event of Obama’s defeat. All of this was very paranoid, and from a mentally normal point of view it could be a kindling of fear for political purposes. Has passed or worked, but in any case it did.
To exclude such a possibility, or rather the origins of such an opportunity, it is necessary both a little and a lot. It is not enough to remember our deputies in Congress, and a lot to know how they vote, and not as they say. If we are a people, and they are servants of the people, who, as their voices prove, have fallen into fiscal charm, they need to be replaced by more responsible candidates of their parties, those who really represent the consequences of their actions as legislators. We need lawmakers who understand that in order to grow the economy and prosperity of the country, the government must lift the yoke of regulation and intervention from the neck of the private sector. We need lawmakers who understand that taxes exist for the work of the government, which with this money provides the infrastructure, security and civil rights of the population of their country. If all this is respected, there is little hope, we will not pay off the external debt, but at least maintain the status of a country that offers its conditions to the world, not only turning the treasury press on and off.
Five years ago, the then head of the International Monetary Fund, Dominique Strauss-Kahn, said at a press conference at the National Press Club in Washington that, despite the crisis, he didn’t see the need to change the world's reserve currency, because “under current conditions, most people continue to look with optimism on the US economy. " According to Strauss-Kahn, “the dollar is far from the worst choice for the global economy,” and honey would be his mouth. Two years later, Strauss-Kahn was arrested at Kennedy Airport and accused of sexually harassing an 32-year-old African, the hotel maid where he was staying. The case did not come to court, but after 5 days after his arrest, he resigned, and his successor, Christine Lagarde, also treats the dollar favorably.