Comments by "Tony Wilson" (@tonywilson4713) on "“Silly old fool” Joe Biden should quit to save America | Andrew Marr | New Statesman" video.

  1. I'm Australian but went to college in America and I have been throwing that fact at them for a couple of years now. Here's a couple of hard facts. 1) We DO NOT need America to deal with the World's issues BUT without America problems like climate change, displaced people, wealth inequality,.... become damn hard to deal with. 2) We have no say in who America chooses to be POTUS but we have to live with the choice. 3) America is still 1/4 of the worlds economy and most of us either trade with, or have security arrangements with of BOTH and if that 1/4 goes away or makes a sudden change then it hits the rest of us. It would even hit those countries like Russia, Iran and North Korea. 4) The US Dollar is still the worlds reserve currency. No matter what the BRICS want they will not be replacing the US$ anytime soon. Almost all international trade is either done in US$ or there's US$ underpinning the currency transactions. 5) The Bank of International Settlements, which is where all of our central banks exchange and settle out all the money that's been exchanged, reported (Dec 2022) that there's now $100 Trillion in FX Swaps (Foreign Exchange Swaps) floating about the markets and most (+65%) are held by non-bank entities. A few people commented on it at the time but its basically gone untouched by the mainstream media. Normally FX Swaps are what's needed by people to do various forms of international trade and investments BUT they are also used by people to bet on the currency markets. Nobody knows exactly how much of the $100 Trillion are bets versus normal business but what is known is that if the US$ suddenly shifts then those FX Swaps go from being bets to being toxic. So whoever the American's pick needs to be VERY VERY VERY responsible for the next 2 terms. The next POTUS not only has some very difficult tasks to deal with in America but they have to DE-TUNE the effect of the US$ in the worlds economy without causing a catastrophe.
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