A lot of journalists are pretending to be shocked (shocked, I tell you!) that the New York Times has now confirmed the authenticity of Hunter Biden’s laptop. It is all so ridiculous – but, they’re gonna go with that. “What? I had no idea! They said it was Russian disinformation!”. Its ok to tell the story now because, well, 2020 is long over.
But as one guy I know pointed out – if the laptop is valid (and it is) then Joe Biden is compromised…lots of foreign powers have sufficient dirt on Biden’s son to pretty much force Pudding Brain to do what they want. And this goes a long way towards explaining things like the US easing sanctions on Russia so they can build a $10 billion nuclear plant for Iran. You know, Russia: the ultimate Bad Guy right now? That Russia.
China and Russia have worked out a deal to denominate their trade in yuan rather than dollars. This does put at risk the status of the US dollar as the world’s reserve currency. This is a watershed moment, folks: the final end of the post-WWII system.
Do keep in mind that the US dollar became the world’s currency because after WWII it was still at least partially backed with gold, the US was economically dominant and you could rely on the American government not confiscating your dollar-denominated assets at will. Here in 2022, the dollar is backed by nothing, the US is not economically dominant and we just demonstrated vis a vis Russia that we’ll confiscate assets (and civil asset forfeiture has been leading us this way for a while). Given all this, unless you have to trade in the USA, what purpose does a dollar have? There is a non-zero chance that the US dollar goes rather Weimar here.
A look ahead to Trump’s 2024 prospects.
The Ukraine war grinds on – I was disgusted yesterday at Congressional GOP hawkishness on the issue. And, also, I don’t get it: the GOP base is entirely unwilling to go to war over Ukraine. We don’t like Putin. We favor Ukraine…but we don’t want to fight. But there was the GOP yesterday acting like it was 2001 again. It is just stupid: and the whole Ukraine issue merely provides cover for Democrat failure. Leave it alone. Let the Democrats talk tough about it.