Hunter Beast

“It’s not so much that a strong or weak currency is inherently good or bad per se, but rather that an artificially strong or weak currency relative to a country’s trade balance is bad. If a country has a persistent trade surplus but constantly weakens its otherwise-appreciating currency by accumulating central bank reserves (mercantilism), then value is siphoned away from workers and toward the leaders. Similarly, if a country has a persistent trade deficit but has an extra monetary premium built onto its otherwise-depreciating currency due to its imperial prowess, then its workers are not very competitive in terms of global labor rates and will likely stagnate, while their political leaders, multinational corporations, and wealthy elite will thrive.”
― Lyn Alden, Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better

“most new currency is created from either 1) monetized government deficit spending, or 2) an increase in fractional reserve bank lending.”
― Lyn Alden, Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better

“In other words, the modern financial structure results in neocolonialist value extraction in a similar (albeit less direct) way to how outright colonialism did. The method involves financial coercion instead of violent warfare.”
― Lyn Alden, Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better

“In many ways, the Bretton Woods monetary system and subsequently the Eurodollar/Petrodollar monetary system represent forms of monetary neocolonialism, with the United States in charge.”
― Lyn Alden, Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better