"$ubjective governments not likely to dominate?", what the hell does that mean?
The American dollar is the dominant world fiat currency and is designated the "Reserve" currency for most of the world. The American dollar is the currency that most international transactions take place in. And why is that so? Due to some genius economic manipulations in history, the power of the Constitution and Capitalism and free markets as they are, and because of the resulting confidence and credibility related to our law, justice and court system. People as well as country's must have confidence in the money, paper or otherwise, that they have in their pockets and in their bank accounts especially when your monetary system is based in a Fiat currency system. What is a fiat currency?
Fiat Currency: "Fiat money (primarily the paper dollars in your pocket) is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. The value of fiat money is derived from the relationship between supply and demand and the stability of the issuing government, rather than the worth of a commodity backing it."
The value and power of a fiat currency is based in economic system confidence, credibility and stability, interest rates associated with it and a country's legal, law and justice system related to the country that issues it. And if a country is seen as being fraudulent, irrational, wasteful, irresponsible and unstable and those who trade in its fiat currency cannot trust it and those who oversee it then confidence and credibility is lost. And when that happens the status of your fiat currency is diminished, and you can and should lose that status. Are you beginning to see where this is going? Your American freedom and your ability to live a good life is directly connected to your country's fiat currency and the confidence that those in the world have in it.
The rules of fiat currency: The country who is seen as being the most stable and the country that most have real confidence in their vital economy and their currency and most importantly their law, court and justice system will be the reserve currency of the world.
Given these rules of fiat currency and attaining the reserve status that everyone has confidence trading in, having in their pocket and in their bank accounts which is very powerful to the point where the country that attains this status essentially runs the world. And now we look at what is essential in attaining this very powerful status.
What is essential? A Subjective oriented philosophy in governance and economic policy? OR an Objective philosophy in governance and economic policy?
Boiled down a Socialist or Communist philosophy in governance is an absolutely Subjective authoritarian form of governance. They may want to convince you otherwise but that is so. And a Democratic philosophy is in theory an Objective form of governance. And why is one an absolute Subjective authoritarian form of governance and the other a theoretical form of governance?
Socialism or Communism is based in the absolute Subjective opinion, whim, judgement or strategy of a single person or group. And a Democratic system is theoretically based in an Objective set of rules, laws, justice, court and a legal system that theoretically Objectively enforces a set of rules and laws that everyone knows and lives by and within.
Nothing is perfect, except a Subjective authoritarian form of governance. (Cuba's government is a perfect Subjective authoritarian form of governance.)
One system being absolutely Subjectively corrupt from the jump, and the other exists within a theoretical structure that attempts to establish fairness and confidence that all will be treated as equals before an Objective law, justice and court system related to how business and individuals are treated within the law.
Simple differences that everyone can understand. Do you think that a Subjective system or an Objective system is superior? You can have either, one by force or by choice. But which one would you choose if you were able to choose?
Now, tell me, which countries in the context of confidence, stability and Objective fairness in their legal system do you personally have confidence in? The CCP dominated Communists of China who are absolutely Subjective where anyone who stands in even mild opposition to the president is hauled away and disappears from the public? Or the Socialist / thugocracy that is Russia where many who oppose the president of Russia seem to have trouble with staying on the correct side of hotel windows or out of exploding jets? Or a country like Brazil whose newly installed Socialist president has just passed an absolute law that all firearms in the people's hands must be surrendered to the government? Sound familiar?
What do we see in America today who currently holds the status as the worlds reserve currency because of the economic and legal system confidence that our country represents as a result of our theoretically Objective system?
And this is why I say theoretically related to our Objective system of law and justice system. What do we see today on going in America? Subjective authoritarian rules, executive orders and the ignoring of our established Objective law, justice and court and legal system being used as political weapons in order for one political party to further acquire and retain political power. The Constitution gives everyone all the rope they need to hang themselves. And sometimes there are those who are willing to take the full measure of that rope. There are consequences meted out in the end by the people as the truth is revealed to them over time. In our theoretically Objective system, there is a price to pay.
The political chaos we are all witness to today does NOT transmit confidence to the people and countries that have our dollars in their pockets and bank accounts. And this is not by mistake IMO. The political party in power clearly appears to be systematically standing America down and devaluing its currency and the confidence in our economy and fiat currency system in order to usher in an *NEW* and "more better" absolutely Subjective authoritarian "progressive" model of Global world governance.
And I think that is a very Subjective and very bad idea. There is a class of individual in the world and within America who are committed to this suicidal for all concerned IMO dethroning of America because of some real or imagined abuse of power today or within history. We do not or should not be living today paying consequences for past abuses as some would like.
That is a regressive philosophy and is suicidal. Are you really suicidal?
And so, what will it be for you? An absolutely Subjective authoritarian model for your future? Or a model where you still have freedom of choice and a set of Objective rules, law, court and justice system in an economy where you can pretty much do and become what you desire?
(Hint: IF YOU HAVE THE CHOICE, NEVER CHOOSE SUBJECTIVE AUTHORITARIAN RULE)
Getting back to the issue of who or what country can in fact be the reserve currency of the majority of the world? IMO not a Subjective or even a consortium of Subjective authoritarian rule group of countries. In Subjectivity and authoritarianism there can be no confidence only oppression.
Subjective confidence in self-dealing, corruption and your enemies magically falling out of windows or conveniently disappearing when they become a perceived threat to your power? Absolutely, but you will find no confidence or freedom.
And without true economic confidence and confidence in the systems that surround and support it there can be no Fiat currency. "America, the cleanest dirty shirt in the hamper"
Are you paying attention yet America? JGL 8/29/23