Paper Soldiers, by Saleha Penguin, is written by a reporter who interviewed a lot of big names in government and Wall Street and tells us what they told her. She says she loves America and wrote this book because she is afraid for America’s future.  She ends with this quote, “America’s friends and foes are wondering whether U.S. economic dominance, underpinned by the dollar’s central role in the world, was worth the trouble.” I suspect they told her what they wanted to tell us:  America’s current monetary and economic policies are a prescription for disaster.

Take away:

1. The world is fed up with America using the dollar as a weapon. They would gladly choose an alternative if one was available.
2. We will not be able to spend our way out of this mountain of debt we have accumulated.
3. The Fed is running the show and the Treasury’s role in manipulating the value of the dollar is over.
4. This is the way past empires have ended, but look how long it took England. They’re still here, and still acting as thou they were important.

Now, what should we make of this?

1. Biden is on the phone to China.
2. Yellen is in China talking to everyone, but no one knows what they are talking about.
3. The rest of the world is watching, trying to figure out what their next move is.
4. The market is going up and worthless securities like DJT are market leaders. The market does not believe the Fed.
5. Hello world, the answer is NO!

Don’t be the last one out the door.