If we become what we repeatedly do, then I will be turning into a freshly dug potato.
In other news
I went to a large high school cross-country meet today. There was a team from Holland, Michigan on the shores of Lake Michigan and a team from Ypsilanti, Michigan and there were teams from many towns in between.
The two local teams were from Charlotte and Olivet, Michigan. The women from Olivet were notable because the top three fastest finishers were all from Olivet. The fastest girl was at least 100 yards ahead of the second fastest who was 100 yards ahead of the third fastest...and then a gap when they started showing up in twos and threes.
I was a passenger in the vehicle that transported our group to the venue. The van hit a rough patch and was bouncing all over the lane.
I eyeballed the rear tires after I got out and they seemed to be properly inflated. Then I bounced the back end up-and-down. As far as I could tell, there was not a drop of fluid in the shocks or perhaps they had ripped out of the rear strut-caps. Boing....boing....boing....boing...boing...
As payment for the ride, I offered to transport replacement parts from the auto parts store in town to where she lives if she paid for them. She thought that was a spiffy idea and her hubby will swap them out some time this weekend.
USD as World's Reserve Currency
I had a thought as I was digging potatoes.
One of the horror scenarios for the United States economy is the US Dollar being unseated as the default, World Reserve Currency.
The way it works now is that the US Dollar is the hydraulic fluid that moves the engines of the world economy. If you want to buy cobalt ore in rebel held territory in the eastern Congo, you pay with $100 bills and the ore gets stacked into the back of your truck. Not Chinese Renminbi. Not Euros. Not Japanese yen. US Dollars, preferably in $100 bills.
Because there is a universal demand for USD, as a nation, we do not need to redeem them by exporting goods and services in order to support their value as a currency. The dollars we use to buy Chinese goods, for instance, are used by the Chinese to buy oil or bauxite or German machine tools. Other countries redeem the value for us.
If/when the universal desire for USD collapses, they will all come rushing back to the US to buy US property or products and we will see massive inflation in prices.
The simple fact is that there are no Chinese ships keeping the Straits of Hormuz open. There are no Japanese aircraft carriers or European fighter-jets or Brazilian or Indian troops carrying the load.
The US is not charging money for the service. But I bet that behind the scenes they are making it clear that we would only guarantee the safety of oil-tankers that are destined to the US IF the malcontents dethrone the dollar as World Reserve Currency.
Yes, those dollars will all come flooding back to the US but it will be to buy the oil that they could not ship out of the Persian Gulf and Red Sea. And that oil will be insanely expensive because it will be taking a much, much longer boat ride to get to Shanghai or Mumbai or Pusan.







