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Though this pardon power that "US presidents" have Is tyrannical.
US: News & Discussions
- Thread starter SKC
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The forum's Trump-high is about to wear off, because tariffs are coming.
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Tariffs are ok because India can now raise tariffs against US. Besides US would need to raise tariffs like 200-300% to remain competitive so US would lose out anyway and inflation will go up.
Fears of inflation will keep Trump in check.
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Trump came riding the inflation wave. Tariffs won't be beared by exporters solely, US consumers will face substantial burden. He will pick and choose whom to tariff. India has very less Chinese offshoring, so we wont get targetted in first wave or more.
Actually india shall get targetted more. Tarrifs on our exports hurt software inc and other industry. Hardly has direct impact on us middle class. China on other hand would have direct umpact on inflation. So thats that...
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is there customs duty on services and software?
there is a WTO moratorium on duties for electronically transmitted goods.
customs duty usually means merchandise goods.
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Visa curbs were laid last time(hits directly body shpping aka thekedaars). More Taxes on umerican software companies who offshore more are the tactics iirc they tried or were mulling to try last time.
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The Dollar as a Reserve Currency
The dollar is often referred to as a global currency. Its dominance is attributed to several factors, including its stable value, the size of the U.S. economy, and the geopolitical influence of the United States.
My father once shared an insightful analogy. As a wholesale trader dealing in millions of rupees, he maintained a cash reserve in his iron safe to manage delays in receivables and payables. This personal practice of keeping a reserve, scaled up to a national level, mirrors the concept of national reserves today.
After World War II, the pound sterling lost much of its value and global significance, paving the way for the dollar to take its place. This shift was formalized at the Bretton Woods Conference in 1945, where the dollar was effectively “knighted” as the world’s reserve currency.
The conference also established a system of unified rules and policies to create a framework for fixed international currency exchange rates. As part of this agreement, the newly created International Monetary Fund (IMF) was tasked to determine and maintain fixed exchange rates for currencies worldwide. This exchange rate was fixed to the dollar which itself was related to gold at the rate of $35 per ounce (Gold Standard).
In 1971, when I was still at university, President Nixon announced the end of the Gold Standard. At the time, I didn’t fully understand what was being ended or what it meant in the first place. Nixon’s decision effectively ended the fixed exchange rate between the dollar and gold.
Subsequently, currencies were allowed to float freely, and the dollar itself was devalued. It was then that I began to understand the impact: my dollar in Chicago would now fetch significantly more rupees in India.
Most countries manage exchange rates by either pegging their currency to another, like the dollar, or allowing it to fluctuate within a set range. Maintaining dollar reserves is crucial for handling trade imbalances and daily transactions. When a floated currency deviates significantly, the central bank intervenes.
This is how national trades are conducted except fluctuating currency also gave rise to George Soros “Black Wednesday” effect. He accumulated pounds sterlings in 1992 and sold them at high profit when the Britain could not sustain pressure on its currency with its limited cash reserves.
Lack of high cash reserves were also the reason that India in 1991 had to mortgage its gold holdings as it almost ran out of dollars to purchase necessary raw materials and industrial goods to keep the Indian economy going. Part of that gold is still in England and it is slowly shifted back to India.
The same is happening lately in Pakistan where there no cash reserves left hence IMF is lending them money but with severe conditions of reworking their economy and sliming down expenses. These measures have had limited impact. The Pakistani economy is still down the drain.
The dollar remains the undisputed leader in trade and cash reserves, though its supremacy faces growing challenges. Historically, wars have disrupted such dominance, but no contender has yet dethroned it. Today, technology introduces a new factor: cryptocurrency. As the digital landscape evolves over the next decade or two, cryptocurrencies may gain wider adoption.
The dollar is often referred to as a global currency. Its dominance is attributed to several factors, including its stable value, the size of the U.S. economy, and the geopolitical influence of the United States.
My father once shared an insightful analogy. As a wholesale trader dealing in millions of rupees, he maintained a cash reserve in his iron safe to manage delays in receivables and payables. This personal practice of keeping a reserve, scaled up to a national level, mirrors the concept of national reserves today.
After World War II, the pound sterling lost much of its value and global significance, paving the way for the dollar to take its place. This shift was formalized at the Bretton Woods Conference in 1945, where the dollar was effectively “knighted” as the world’s reserve currency.
The conference also established a system of unified rules and policies to create a framework for fixed international currency exchange rates. As part of this agreement, the newly created International Monetary Fund (IMF) was tasked to determine and maintain fixed exchange rates for currencies worldwide. This exchange rate was fixed to the dollar which itself was related to gold at the rate of $35 per ounce (Gold Standard).
In 1971, when I was still at university, President Nixon announced the end of the Gold Standard. At the time, I didn’t fully understand what was being ended or what it meant in the first place. Nixon’s decision effectively ended the fixed exchange rate between the dollar and gold.
Subsequently, currencies were allowed to float freely, and the dollar itself was devalued. It was then that I began to understand the impact: my dollar in Chicago would now fetch significantly more rupees in India.
Most countries manage exchange rates by either pegging their currency to another, like the dollar, or allowing it to fluctuate within a set range. Maintaining dollar reserves is crucial for handling trade imbalances and daily transactions. When a floated currency deviates significantly, the central bank intervenes.
This is how national trades are conducted except fluctuating currency also gave rise to George Soros “Black Wednesday” effect. He accumulated pounds sterlings in 1992 and sold them at high profit when the Britain could not sustain pressure on its currency with its limited cash reserves.
Lack of high cash reserves were also the reason that India in 1991 had to mortgage its gold holdings as it almost ran out of dollars to purchase necessary raw materials and industrial goods to keep the Indian economy going. Part of that gold is still in England and it is slowly shifted back to India.
The same is happening lately in Pakistan where there no cash reserves left hence IMF is lending them money but with severe conditions of reworking their economy and sliming down expenses. These measures have had limited impact. The Pakistani economy is still down the drain.
The dollar remains the undisputed leader in trade and cash reserves, though its supremacy faces growing challenges. Historically, wars have disrupted such dominance, but no contender has yet dethroned it. Today, technology introduces a new factor: cryptocurrency. As the digital landscape evolves over the next decade or two, cryptocurrencies may gain wider adoption.
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Let them go to hell.
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SCOTUS is rigged enough in favour of Trumpwa already. The reason why he will never spend a day behind bars. Both sides are playing this game.
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Good. Saves us the effort of expelling them out. Good riddance and don't let the door hit you on the way out.
"The report said that overall, Musk gave a staggering $239 million to America PAC- in both cash and kind."
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So what? Bloomberg in the last election gave away over $1 billion dollars and I don't see the leftists crying over it.
Trumpwa is seriously pissed
View: https://x.com/bennyjohnson/status/1865772211966988484?t=O7L3lc-NOIYO2tEi9gYv9g&s=19
View: https://x.com/bennyjohnson/status/1865772211966988484?t=O7L3lc-NOIYO2tEi9gYv9g&s=19
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