[dragracer567]

There has been various reports (western offcourse) on the failings of Russian logistics and Wendover has made a video explaining the issues faced by the Russian logistical machinery. Overall, it does seem like the west has devised better logistical systems due to their “pull” strategy rather than the “push” strategy followed by the Russian/Soviet model. It’s telling how the Americans fought a war on the other side of the planet without as many logistical issues as Russia did with a neighbouring country.

I wonder how the Indian logistics is setup. I remember reading somewhere that the Indian military currently used a “pull” setup similar to the western model during and after the confrontation with China.

https://youtu.be/b4wRdoWpw0w

[Sran]

Ukraine security service has shot & killed Denis Kireev, a member of the Ukrainian negotiating team with russia. He was a banker. He was killed on suspicion of treason. No courts, no trials just straight up assassination. This should tell people the nature of law that prevails under the current regime in Ukraine.

A good read about how Ukraine and it's president are in cahoots with actual nazis and cold blooded killers. https://thegrayzone.com/2022/03/04/n...an-war-russia/
Excerpts -

Andriy Biletsky, the proudly fascist Azov Battalion leader who once pledged to “lead the white races of the world in a final crusade…against Semite-led Untermenschen”, vowed to bring thousands of fighters to Zolote if Zelensky pressed any further.

By this point, Azov had been formally incorporated into the Ukrainian military and its street vigilante wing, known as the National Corps, was deployed across the country under the watch of the Ukrainian Interior Ministry, and alongside the National Police. In December 2021, Zelensky would be seen delivering a “Hero of Ukraine” award to a leader of the fascistic Right Sector in a ceremony in Ukraine’s parliament.

Zelensky’s administration escalated the attack on Medvedchuk, shuttering several media outlets he controlled in February 2021 with the open approval of the US State Department, and jailing the opposition leader for treason three months later. Zelensky justified his actions on the grounds that he needed to “fight against the danger of Russian aggression in the information arena.”

In November 2021, one of Ukraine’s most prominent ultra-nationalist militiamen, Dmytro Yarosh, announced that he had been appointed as an advisor to the Commander-in-Chief of the Armed Forces of Ukraine. Yarosh is an avowed follower of the Nazi collaborator Bandera who led Right Sector from 2013 to 2015, vowing to lead the “de-Russification” of Ukraine.

A month later, as war with Russia drew closer, Zelensky awarded Right Sector commander Dmytro Kotsyubaylo the “Hero of Ukraine” commendation. Known as “Da Vinci,” Kosyubaylo keeps a pet wolf in his frontline base, and likes to joke to visiting reporters that his fighters “feed it the bones of Russian-speaking children.”

A must read summary about how the Ukrainian Maidan coup unfolded and the people associated to it. https://mate.substack.com/p/by-using...ght-russia?s=r
Excerpts-

The Senators were joined in Kiev by senior State Department official Victoria Nuland, who now occupies a similar position under Biden. On February 4th, an intercepted phone call, presumably recorded and released by Russian or Ukrainian intelligence, exposed Nuland's plan for bringing the "transition" about. Speaking to Geoffrey Pyatt, the US Ambassador to Ukraine, Nuland laid out how the US would back a new Ukrainian government, fronted by Maidan leaders and handpicked by Washington. The State Department responded to the leak by dismissing it as "Russian tradecraft." Although Nuland had cavorted, along with McCain and Murphy, with Tyahnybok in Maidan square, the fascist leader was deemed unsuitable for office. The anti-Semitic Russophobe, Nuland worried, would be a "problem", and better "on the outside."

Also discussed was former boxer and opposition figure Vitaly Klitschko, but he was quickly ruled out. "I don’t think Klitsch should go into government," Nuland said. "I don’t think it’s necessary. I don’t think it’s a good idea." One reason was Klitschko's proximity to the European Union. Despite McCain's warm words for the EU before the Maidan crowd, the Europeans had annoyed Washington by supporting a compromise proposal that would leave Yanukovych in power. As Nuland put it to Pyatt: "**** the EU."

A Gallup poll released in March 2014 found that "[m]ore Ukrainians saw NATO as a threat than as offering protection." Although that trend has reversed since, Ukrainian support for NATO has increased to barely above 50% in polls that exclude the 3.8 million residents of rebel-held Donetsk and Luhansk.

People must have read about corruption in Ukraine(Pandora papers say Ukraine is most corrupt) and how Zelensky himself has created a lot of shell companies including the infamous Maltex Multicapital to route money through tax havens along with his two business partners, Ivan Bakanov, current head of the SBU, Ukraine’s main intelligence agency that often investigates corruption cases, and presidential aide Serhiy Shefir, who administers the offshore companies but shares the profits with Zelenskyy’s wife. Zelensky and his partners launched a network of offshore companies in the British Virgin Islands, Belize and Cyprus.

The companies date back to at least 2012, the year District 95 went big in Ukraine with regular shows on a television channel owned by Ihor Kolomoisky, a Ukrainian oligarch sanctioned in the US and the European Union for alleged multi billion fraud.

The media blitzkrieg has made sure that Moscow will now have to totally decimate the Ukrainian Army to upheld its morale and show the world that they are the clear winner. I find it suspicious that no NATO leaders have tried talking to Russia or salvage the situation. Not even a peep, not even a mention.

[durvient]

Originally Posted by vivek95

Sir, with due respect to you, don't fall for this narrative of poor farmer's family. I totally sympathize with Dr. Naveen and his family, truly tragic, no doubt. Just that I don't buy this story of poor background and that other villagers helped him collect 60 lakhs !! I am a Doctor myself, having done my MBBS and MD both from Govt. Merit GM category through CET exams. I belong to a typical middle class family and I am more than sure, no one who claims himself to be "poor" can afford a medical education in Ukraine or Russia ( even though it is lesser than India ). Period. However, there is no point in discussing this ( also it's out of scope of this thread ), I have my condolences to Dr. Naveen's family. Shall be shortly replying to other members who have quoted my post yesterday. Thanks

I echo your voice Vivek. I too belong to a middle class family who struggled to make ends meet, bright student and came from a small village town. There were many like me but I don't recall villagers coming forward collecting funds to send anyone (not me, anyone) to study further no matter how humble these kid's families were.

The same time, I have seen too many cases where such kids did magic on their own and reached to a point where they didn't need anyone's help any further. They chose to stay with motherland instead of fleeing away to a foreign nation.

Study in Ukraine may be cheap, living isn't. Life further complicates when you add cost of living, language barrier and distance from home.

Most of those who left for Ukraine/Russia to study have strong financial backing, they always had plans of leaving India behind. The only difference is that some of them ended up in a wrong place and now crying and pleading India to rescue them since the money they had turned out worthless.

[vishnurp99]

Originally Posted by yashg

Apart from weapons, India doesn't import much from Russia. Numbers are really small compared other nations.

That's not accurate. You should check the data. India imports all kind of raw materials which go into different finished products that we sell internally or export to other markets. In terms of commodity raw materials Russia is one of our largest import partners.
Now about technology, Russia leads in certain areas like the west does in other areas. In missile & defense technology Russia is ahead of the USA. There are jokes about the USA too you know but it's not all accurate.

[SnS_12]

Originally Posted by Thad E Ginathom

Putin has convinced the world (well, quite a lot of people: a good few here) of this huge false premise: If Ukraine joined Nato, it would be an offensive threat to Russia. Really? A few weeks ago, I could have been easily convinced that my idea that Russia is more of a threat to the rest of the world than the rest of the world is to Russia, but Putin has now proved otherwise.

If NATO had been in Ukraine; if NATO did have those Putin-made-famous missiles in Ukraine, Putin could not have done what he is doing now. And that is what he has against the alliance of Ukraine/Europe/NATO. Not some myth that he would have a knife at his throat: that's just an excuse that he has made people believe. He really is a master manipulator.

Sir, the simple answer to this is who has the control of the trigger to the nukes.

Ukraine had the third largest number of nuclear weapons when it broke off from the Soviet Union in 1991. They were forced to give it up as the country was not politically stable and countries feared the nukes could fall in the wrong hands. Hence, in 1994 the Budapest Memorandum was signed and US, UK and Russia had provided assurances back then that they will provide security to Ukraine against any aggression for joining the N.P.T. We all know what happened to that promise.

President Bush pushed NATO to issue a declaration that Ukraine and Georgia would become members in the future despite reservations from U.S. intelligence agencies. This led to the invasion of Georgia as Putin new only way to stop them from joining NATO is to invade them. Later in 2014 Crimea was annexed.

All this while Germany and France were always against giving Ukraine NATO membership as they had to protect their interest but still the US kept playing with Ukraine never committing a timeline on when the membership will be offered which angered Putin further as he wanted a firm commitment that Ukraine won’t be a part of NATO.

So on one hand US pushed Ukraine yo give up its nukes and later showed them the carrot to join NATO so that they can place their own nukes on Ukraine land.

[dragracer567]

Originally Posted by V.Narayan

How this conflict will end or what path will be taken to get there are both hard to predict right now though a negotiated end of some kind is the most likely outcome. But a few changes in the medium term are likely to emerge on the world scene as a consequence of this conflict, the provocation that preceded it, and the sanctions that succeeded the conflict.

Some of these could be {these are my thoughts and by no means complete or cast in stone} :-

Different global payments systems will emerge possibly led by China, Russia and India. Strategically there is no way major countries will let the status quo of SWIFT remain. Most likely competing systems will run in parallel and most banks will become participating partners in 2 or more.

Very interesting and valid thoughts sir!

However, I’m not entire surely if this would bode well for the global economy. What we often fail to realise is that the modern economic system which is largely controlled by the west, principally the US which while imperfect has led to what has arguably been the fastest, longest and greatest period of increase in wealth and prosperity in human history. Neither China nor India could’ve risen out of poverty this fast if it wasn’t for the economic system built by the west. Neither could’ve Germany and Japan grown so fast in the post-WW2 world despite losing that war. The trade that grew China’s economy exponentially was secured by hegemony of the US Navy, whatever the ills of the US foreign policy (this was statistically, the most peaceful period in human history as well). Yes, there are issues like the rise in inequality and climate change but no other system has brought forth a viable alternative for the nations of the world. The Chinese system works only for China, not the world while the Russian system has shrunk its economy to the size of Texas. India meanwhile, with a GDP per capita of $2,100 is in no position to dictate the world order.

Moreover, while the west may sanction the odd country (which more often than not are actually justified), their institutions generally play fair and more importantly are independent from political inference. This is not something that can be guaranteed by Russia, China or to some extend, even India. So, if it were to be true that the global economic system would be controlled more by Russia and China, there’s no way we will continue to see the stability and prosperity we’ve enjoyed in the past few decades, especially since the 90s. To put it simply, my generation won’t see the rapid increase in prosperity that my parents did!

Maybe I’m just biased given that I’m a product of this system but that’s just the point! The system created by the west isn’t perfect but a better system just doesn’t exist yet. Geopolitically, the west has bullied other countries but will remain a lesser evil as compared to Russia or China for global stability.

[ajay0612]

Originally Posted by digitalnirvana

I accept I understand very little. Has been my trait since forever and might be too late to fix.

Serious question though.
Iran is slap bang in the middle of the Middle East region, just like Iraq and KSA.
Pray why are Iraq and Iran evil when KSA is not?

Iraq's Saddam had invaded Kuwait, was a brutal dictator. Iran trying for (most likely has) nukes.

[ajay0612]

Originally Posted by SnS_12

This is the American way of thinking that every country should work like we do or else they are just bad for that countries economy, growth and quality of life aka American Dream.

To give you yet an eg read and understand about Libya and how it performed under the Dictatorship of Gaddafi compared to how it is fairing now. Under him the country went from a poor country to one which had highest standard of living in Africa. It wasn’t a perfect country but the people miss their leader and have realised that trying to bring democracy has only ruined their lives forever. Another country destroyed by western propaganda.

Just because a country is ruled or run differently from the West doesn’t mean that it is not the correct way, every country is unique and the West should stop trying to push the one size fits all mentality.

Same logic propounded by dictators. Nothing new. ISIS, Talibs, Al-Qaida also have a system and many support that system. Does that make it right?

Originally Posted by SnS_12

Is it. Any Ukrainian who was forced to flee his country since the war started will be ready to take your place against his if you say this to them.

Those who flee are not fighting. Even though they are fleeing out of security concerns, none of them is happy to live under a puppet installed by Russians. Russians lies have been exposed by the resistance they are facing. Of course they will overcome, by bombarding defenceless Ukraine. But that would not be a win, it would be a bloody blot.

This was a totally unavoidable war. What were the West thinking by pushing Ukraine to take upon this misadventure with Russia? Did they forsee some different outcome? The situation is like a group of elders asked a teenager to grab a king cobra by his tail and now when the cobra is behind the teenager they stepped back and refused to save him saying the cobra is venomous and we may die trying to stop/kill him. Brilliant!!!

All dictators survive on propaganda which is amplified by their supporters. Russia had already annexed part of Ukraine in 2014, was overtly fuelling rebellian in Donetsk and Lugansk regions since many years. And still it was 'not right' for the aggreived to seek support or help from friendly countries for survival! Pathetic logic.

Zelensky on the other hand would have had or at least believed to have assurances from the West to take on Russia in such a way and show he is a President with courage cause if he didn’t and still went an poked Russia then he has proven that he is President who thinks like a comedian and not a sensible leader.

Logic of moneyminded person, 'If you can't avoid being destroyed, enjoy it'. Maybe Zelensky is different. He has ethics.

This is Russia we are talking about and the west should have calculated their moves carefully and worked out all the outcomes. The Western media propaganda went all out to show that Ukraine is giving a tough fight to Russia whereas in reality a country like USA even with NATO members on its side is scared to take on Russia.

Right.

NATO on the other hand have just proved it that they are a puppet under the US who can drag them to their own wars in Iraq and Afghanistan but pull out the rule book when their neighbouring Europeans ask for help and support.

Right again.

[V.Narayan]

Originally Posted by dragracer567

Very interesting and valid thoughts sir!

However, I’m not entire surely if this would bode well for the global economy. What we often fail to realise is that the modern economic system which is largely controlled by the west, principally the US which while imperfect has led to what has arguably been the fastest, longest and greatest period of increase in wealth and prosperity in human history. So, if it were to be true that the global economic system would be controlled more by Russia and China, there’s no way we will continue to see the stability and prosperity we’ve enjoyed in the past few decades, especially since the 90s.

Maybe I’m just biased given that I’m a product of this system but that’s just the point! The system created by the west isn’t perfect but a better system just doesn’t exist yet. Geopolitically, the west has bullied other countries but will remain a lesser evil as compared to Russia or China for global stability.

Dear dragracer567, thank you for your thoughtful and thought provoking posts on this thread where jingoism has taken root which is partly why I stayed off line for 15 odd pages. I appreciate your liberal views which in some ways reflect mine. An American hegemony is to be preferred to a Chinese or Russian one any day. :-) With apologies to George Orwell all hegemonies are lousy, just that some are more tolerable than others. As an amateur student of geo-politics starting with the liberation of Bangladesh in 1971 and the Vietnam war from Linebacker onwards I tend not to take sides in such situations {though I have my pet prejudices} having seen how each time there was something to be said for or against both sides.

I am not at all advocating upending the SWIFT or the $ denominated world trade and replacing it by another. I'm just stating that the forces of geo-politics will ensure that one or two parallel systems will come up also and all 2 or 3 will co-exist together. It will be good for world commerce not to be dominated by one currency no matter which. Till the late 1950s and even into the mid-1960s the GBP was a fully acceptable alternative to the US$. It won't be easy as the Chinese and Russians on such matters will be trusted a lot less. But the Chinese can get it done. Most banks will become members of both. The cry for an alternative to SWIFT and the US$ has surfaced time and again {whenever there is a crises} since the end of the cold war. When you weaponize what is meant to be a neutral multi-lateral instrument of trade into a weapon of war and political muscle you set in motion the dominoes for alternatives.

I'm also curious that thus far at least on the surface it seems there is little or no dialogue between the leaders of the West and Putin. Not a good sign from both side. I'm sure there is a line of communication through their Ambassadors but I see a hard stand being taken by both sides and this is one war where it cannot end {at least in the short term} into a I win you lose situation because Putin is not going to back down and Russia is not Iran or Libya. As I said in my last post both Russia and USA will discover the limits of what they can do and impose on others.

[SnS_12]

Originally Posted by dragracer567

However, I’m not entire surely if this would bode well for the global economy. What we often fail to realise is that the modern economic system which is largely controlled by the west, principally the US which while imperfect has led to what has arguably been the fastest, longest and greatest period of increase in wealth and prosperity in human history. Neither China nor India could’ve risen out of poverty this fast if it wasn’t for the economic system built by the west.

The global economy at the moment is at a brink of a collapse and the financial markets are receiving shocks which won’t let it survive for long.

The US moved away from the gold standard in the 70’s. Money is a measure of value which should be fixed and not change every day, which is what has been happening since US moved away from the gold standard. The US was on a gold standard since the time of George Washington and despite all the wars, depression etc the US had seen great growth which no other country in the world has seen and their growth has actually come down substantially after moving away from the gold standard and the cost of living has been growing since then for everyone, which is known as INFLATION.

But you will say it still doesn’t add up as US is the largest and most powerful economy in the world. Biggest reason for this is petrodollar as the highest commodity in the world traded is OIL and its traded in US$.

That is why America doesn’t like countries trying to move away from US$ when it comes to OIL and they put sanctions or wage wars on them, Iraq, Libya to give examples.

The US$ is still the preferred currency and is used for more than 50% of all goods traded combined and hence because of such high demand has value despite all the printing the Fed does which should have dropped the value as anything in excess losses value over time. Look at US debt over $30 trillion which it can never pay pack and it will just keep rising and everything has a limit as everything that goes up comes down eventually.

India would have been at another level considering the amount of wealth we had/have and had it not been for external and internal factors. Golconda Diamonds have produced some of the most famous diamonds that are displayed and held around the world now. Bihar one of the poorest state is sitting on one of the biggest known resources of gold ore in the country. If you think about it our parents never bought their houses on debt and look at the amount of debt we Indians accumulate now to buy property in the name of investment. The Americans and its Industry has got too used to free money 0% interest and the govt promotes you to hold more debt. But someone has to pay it back some day and US has reached this point where it controls inflation by increasing interest rates and also has to avoid recession a difficult task for the govt and fed.

A person earning low salary with no debt is always happier than the person earning a higher salary with debt.

For the world to digest that America can only stay on the top for so long is like telling an Indian and convincing him that Ambani’s time is up and he will be replaced but the fact is there is a gentleman from same state of Gujarat whose wealth has grown exponentially since 2014 and is standing next to him.

[C300]

Good article on the ongoing sanctions against Russia.

Russia Ukraine conflict: The case for atmanirbharta

https://www.moneycontrol.com/news/wo...a-8197941.html

[vishnurp99]

Originally Posted by dragracer567

Very interesting and valid thoughts sir!
However, I’m not entire surely if this would bode well for the global economy. What we often fail to realise is that the modern economic system which is largely controlled by the west, principally the US which while imperfect has led to what has arguably been the fastest, longest and greatest period of increase in wealth and prosperity in human history. Neither China nor India could’ve risen out of poverty this fast if it wasn’t for the economic system built by the west.

Originally Posted by V.Narayan

An American hegemony is to be preferred to a Chinese or Russian one any day. :-) With apologies to George Orwell all hegemonies are lousy, just that some are more tolerable than others. As an amateur student of geo-politics starting with the liberation of Bangladesh in 1971 and the Vietnam war from Linebacker onwards I tend not to take sides in such situations {though I have my pet prejudices} having seen how each time there was something to be said for or against both sides.

I had some humble submissions to make. I think the main reason why the modern economic/political system developed the way it has developed is the strategic balance between USA and USSR/Russia. Let me explain why I think this is the case.
1. Trade by it's definition has to be mutually beneficial. This is possible only if both parties have levers that they can use to get to the other guy in case the trade commitment is not met by one of the parties. When we come to nations, for the longest period countries have had the option of balancing out their interests with partnerships with either USA or USSR. So if USA does some unreasonable stuff with you, then you start leaning towards the Russians and vice versa. Once the strategic balance goes away, there may not be trade but only exploitation.
2. Coming to China & India, they were able to grow and reach their current status again because of the strategic balance. If there was no USSR/Russia, China would not have got access to Defence technology and commodities that they have got now. India may have been balkanized into many different nation states in case we didn't have the weapons and diplomatic/economic backing to guard our sovereignity.
3. Food for thought : How reliable is GDP of a country as an economic health measure when the GDP is quantified in dollars? If the GDP is in dollars, is it possible for any other country to have a higher GDP than US at all? The exchange rate to dollar is a key factor which may be determined by a lot of different factors. Once you look at PPP per capital, you start understanding the relative strengths of different economies but US has an advantage here too because of the dollar.
Lot of European states were not able to balance their relationship with Russia and hence they have become really dependent on the USA today. One just has to hear German Navy Chief Vice Admiral Kay-Achim Schönbach speech and the reaction next day to see this.
So I disagree that there has been an American hegemony so far. There has been a balance and that balance has to continue in some way for the current economic systems to work. India's ideal state is for that balance to be between Russia & America. The other option is for us to become Asia's Ukraine (maybe a stronger Ukraine but ukraine still) to Asia's Russia (China).

[Samurai]

Originally Posted by vivek95

I belong to a typical middle class family and I am more than sure, no one who claims himself to be "poor" can afford a medical education in Ukraine or Russia ( even though it is lesser than India ). Period.

It is hard to know, really. My uncle (age 81) passed away last year, he lived in a village. A week later his brother went to buy vegetable, and the vegetable seller let it slip that his late brother had given 25K for his son's medical education. That son is already a doctor and practicing. None in our family knew about this. In other words, that village vegetable seller's son had become a doctor by the kindness of many villagers who helped out with the finance. So it depends on the village, and what kind of relationship that family had in the village. Since everyone knew the vegetable seller on a daily basis for decades, they stepped up and helped.

[Rocketscience]

Originally Posted by durvient

Study in Ukraine may be cheap, living isn't. Life further complicates when you add cost of living, language barrier and distance from home.

Most of those who left for Ukraine/Russia to study have strong financial backing, they always had plans of leaving India behind. The only difference is that some of them ended up in a wrong place and now crying and pleading India to rescue them since the money they had turned out worthless.

I'll give a much better picture as my direct family went there (brother in law had only recently went there and has safely returned home now),
The candid response is this, sure who are extra ordinarily bright can get admissions on their merit in India in government colleges and that is the ideal situation, he too tried for many years but could not crack it despite being studious and reasonably focused.

His family is also not strong financially and plan to take loans for his studies which are difficult to get since most banks do not provide the loans for studies in Ukraine, his father ie my father in law is a government employee and has so far spent his fortunes in sending him to coaching institutes in bigger cities to crack the NEET exams for many years and hence would need loans for his further studies even in Ukraine.

Now at the end they were left with the option of either private colleges here or go to countries like Ukraine and Russia, the cost including cost of living was less than 1/3rd of what it would have been in private colleges in India so the decision was made in its favour, also living there is reasonably cheap as well as the accommodations plus food is around 15-20k per month which is comparable to living in Delhi/Gurgaon for studies and less than living in Mumbai for example, mobile connection is even cheaper than India, plus he has every intention of coming back to India because first of all they don't let them stay in Ukraine after their course is over, secondly every major country in the west has their entrance exam to crack for allowing them to practice medicine there, India too has a similar exam and it is easier from what i heard as compared to same exams for USA and UK, which is understandable as they won't let just any tom, dick and harry to enter, not to mention additional cost of travel for the exams and accommodations there etc which is a gamble because there is a possibility of failing the exams.

Regarding the government of India help, luckily he was just 15 KM away from Hungarian border and was among the first to be rescued, Indian embassy had informed and coordinated with their college and they reached in their assigned seats in buses to the borders, the immigration process was totally trouble free and handled by our government and thereafter they took them to the airport in Hungary, and brought them to India and even offered to drop them to their respective states when they reached Delhi, that is frankly more than what they can and should do and they got brilliant service throughout and it really annoyed me when some of the students criticised them and called their efforts worthless despite having reached back alive with their visas and flights and everything handled by the government and that too for free, I'am as far from politics as possible and don't even know the name of many leaders, but that criticism was totally uncalled for and in very bad taste, that is thanklessness at its peak.

[Samurai]

Originally Posted by SnS_12

The US moved away from the gold standard in the 70’s. Money is a measure of value which should be fixed and not change every day, which is what has been happening since US moved away from the gold standard.

Oh, let's not go there. Gold standard belongs in history, just like the horse cart. Just because petrol cars are causing pollution, we don't advocate going back to horse carts, do we?

The problem is not Fiat currency, but the dominance of one currency, that is US dollar. This dominance has allowed just one country to print dollars whenever it wants money, without depending on demand. Even though rest of the world uses USD for transactions and wealth storage, they have no say in easing/tightening of USD. What we really need is multipolar currency leadership. If the countries have a choice in using 5-10 different stable currencies to conduct business, US can no more afford to print dollars without a care, because that would devalue their currency. The currency holders would always want to stick to the least volatile currency, and not something that is printed without a care.

Originally Posted by SnS_12

Look at US debt over $30 trillion which it can never pay pack and it will just keep rising and everything has a limit as everything that goes up comes down eventually.

This can come down only if the dollar dominance goes down. Then USA will be forced to do quantitative tightening. That is buy back dollars using other currencies to maintain it's value.

Originally Posted by SnS_12

If you think about it our parents never bought their houses on debt

I can't even imagine this since I was from a middle class family. My father and all my uncles took loans from their employer (their salary as collateral) to build their homes. Every month EMI was cut from their salary, and it was cleared only when they retired.