RE: Debt And The Economy
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The US can keep printing money without it losing as much value (relative to other countries printing at the same rate) because they bully the whole world into using their currency for exchanges. Crypto can circumvent that
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That is an interesting view. One I would completely disagree with.
Have you noticed what China, the EU and Japan are doing with their money. The ECB is even outpacing the Fed in this area.
And none of them have near the economy the US does.
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It is interesting if you like world economy, I will try to be unbiased, but keep in mind it is impossible, so take with as much salt as you want:
I have been studying chinese(Mandarim) language, thus chinese economy and society by proxy, for over 6 years already. I don't know about the EU, but I know Japan has a purposefully inflationary currency, that is, they actively try to devalue their currency so that they can export at cheap and have a competitive price.
China calls themselves a "scientific socialist society in early stage of developement", which translates to this:
They are willing to use market mechanics to make their economy grow, despite agreeing that markets generate equality (they have increasing equity and equality of citizens ecnomy as goals for the next 29 years), so they have learned form Japan, they are a huge exporter of many goods (made in China everywhere). When a country exports a lot, their currency tends to increase in value, but that in turns makes it less interesting for people to buy, because stuff gets more expensive, so they are in a privileged position where they can, and should (to boost local industry) print money to avoid deflation, so that they can keep being attractive for foreigners trying to buy their stuff.
The US citizens might not notice, there is a term in sociology called "american exceptionalism", that says americans, because of heavy government propaganda, can not view their country unbiasedly. The international consensus, which I agree with, is that the US also uses this strategy, it is not interesting for them to have a currency that jumps in value from one day to another, because it makes international business hard, and most of the international trade is in USD Dollars, so ithey have to keep printing to avoid deflation.
US printed over 50% of the dollar supply last year (something like that), and yet, the currency did not devalue by that much in regards to most other currencies, that is because it was a calculated move.
Of course, citizens that import, instead of exporting, that is, the majority of people, would prefer their currency to go up in value, to import and consume more, but to the national industry that is not good, unless they have a huge leverage, like patents or monopolies, so that foreigners don't have a choice but to pay increasingly higher prices.