Wonko-D-Sane t1_j6iuzzx wrote on January 30, 2023 at 5:26 PM

Reply to comment by Ok_Edge_1486 in 50 Basis Point Hike - This Wednesday - Write it down by MogamboKushhua468

>2%

Not happening for the next 5 years at least. Far more likely the USD/SWIFT gets abandoned as the basis currency since the rate hikes needed to get you to 2% would just devastate the rest of the world.

Americans basically deciding what their money is worth by jacking up rates to regarded amounts, while goverment keeps printing and borrowing.

The idea that retail/businesses borrowing cost is an alternate universe/reality from government borrowing and spending is funny. So policy makers want the government to have free money, and people to work for free for them... Just go back to slavery and get it over with.

EDIT: fat finger fix to add a T to be clear I am talking about the SWIFT system

Mathias218337 t1_j6jknld wrote on January 30, 2023 at 8:05 PM

!remind me 7 months

Fangslash t1_j6kkmxf wrote on January 30, 2023 at 11:56 PM

Theres no way USD gets abandoned unless the congress went full regard. There is a chance to see a rise for bartering or precious metal trade in worst hitting countries, but everyone else will keep trading in USD - most countries uses USD because it is the single most stable and transparent currency in existence, and thats without the extra stability enhancement from been the most internationally used currency

MogamboKushhua468 OP t1_j6lh8hu wrote on January 31, 2023 at 4:01 AM

100% agree, we will not see 2% inflation for next 5 years

Ok_Edge_1486 t1_j6iwv48 wrote on January 30, 2023 at 5:38 PM

Have to agree. While the value of the dollar goes lower, people in worse economies being payed worse currency will suffer 2-3x more than Americans as the result of these rate hikes. Just look at Europe. They printed endlessly for so long they're currency lost 3x it's value in a year alone... More pain expected in 3rd world countries and economies with way less stability than the western world...

MogamboKushhua468 OP t1_j6jmg16 wrote on January 30, 2023 at 8:16 PM

>nted endlessly for so long they're currency lost 3x it's value in a year alone... More pain expected in 3rd world countries and economies with way less stability than the western world...

Look at Pakistan, Srilanka, African countries....already suffering