President Trump’s One Big Beautiful Bill officially passes the House

[Ignorant]

Why didn't you say so before you were questioned??
If no one had mentioned it, were you all ready to "let it go" unexplained?

Didn't think it needed explanation.

So how is The Bretton Woods "Era" comparative? 

I'm comparing the last 80 years of American foreign policy to Trump's and saying it's a course reversal. Not sure what you're asking here.

[Ignorant]

It's inadvertent economic isolation in some cases, but it's not outright isolation.
The USA is pushing hard to retain it's dollar hegemony with nothing to back it up except bluster and a stretched thin military with a huge budget.
It would do better with more diplomacy but we haven't played that game in awhile. 

The US has been pushing hard to retain the dollar's hegemony for the last 80 years, yes. It's not anymore, at least Trump isn't. If his single goal was to devalue the dollar and threaten its status as the global reserve currency, he's doing a perfect job:

- Taxing imports
- Deficit spending
- Pressuring the Fed to massively reduce interest rates
- Acting erratically (a reserve currency's greatest asset is stability)

The market doesn't lie. See the USD/EUR exchange rate since Trump took office below. We can thank our lucky stars the Fed is an independent organization that doesn't have to do what the president says or it would get a whole lot worse very quickly.

[UltraBudgie]

I mean that Trump's foreign policy is a course reversal compared to the Bretton Woods era and that America is now on a path towards isolation.

Tangentially, last year I took a road trip and before seeing Acadia I ticked a few items off my bucket list by stopping in New Hampshire. I saw where the Old Man in the Mountain used to be, and took a shit in Bretton Woods. It was cathartic. I'm pretty sure I didn't upset the balance of the universe, but you never know, so I thought I'd mention it.

Sorry?

[sahgwa]

The US has been pushing hard to retain the dollar's hegemony for the last 80 years, yes. It's not anymore, at least Trump isn't. If his single goal was to devalue the dollar and threaten its status as the global reserve currency, he's doing a perfect job:

- Taxing imports
- Deficit spending
- Pressuring the Fed to massively reduce interest rates
- Acting erratically (a reserve currency's greatest asset is stability)

The market doesn't lie. See the USD/EUR exchange rate since Trump took office below. We can thank our lucky stars the Fed is an independent organization that doesn't have to do what the president says or it would get a whole lot worse very quickly.

[Image: https://i.imgur.com/FmKC2YU.png]

Thats why I think it feels like we are in a two option scenario either of which is feasible, I tried to allude to:
1. they know its crashing so they are in plunder mode and dont care because they will hunker down for the crash and reset to a digital CBDC crap /crypto AI fake money
2. they know its crashing so they are in plunder mode and dont care because they will prop it up at the last minute with space minerals, earth minerals,  more gold we found asteroid mining and another push for military business as usual at the end. 
Either way it's going down slowly or quickly.

The question is is it being made to go down on purpose to implement these new systems?

[Ignorant]

Further down in the Hudson-Wolff conversation you linked they go into more detail:
 

... from the vantage point of foreign investors and money managers, the most serious threat to the dollar’s exchange rate is Trump’s pressure on the Federal Reserve to lower interest rates. And he said that if Federal Reserve Chairman Powell does not lower rates, once his term expires next year, he’s going to handpick a successor whose loyalty to Trump will lead him to lower interest rates yet more.And I want to describe how this policy is going to be an exclamation point beyond the dynamic that Richard has just been explaining. It’s going to have a twofold return.

First of all, as I mentioned, investors can make an easy arbitrage gain by borrowing lower interest rates here to buy high interest rates in other countries. They can do it freely. All they have to do is arrange at their bank: Lend me money at 4.5%. I’ll buy something yielding 6%.

And there’s been so much money flowing into junk bonds in Europe, as the Financial Times explains, that shipping lines and tourist lines that had to pay double-digit interest rates a year or two ago, now are only paying 6.5%. There’s a flooding of the market — the stock market and bond market — in Europe and America, and all over the world, with money.

Well, the second point is that as the dollar declines relative to foreign currencies, the bonds and stocks of countries with higher interest rates are going to rise, and there will be a foreign exchange premium over and above this. So if you’re an American investor, and you move out of 4.5% in the U.S. to buy a 6.5% bond in England, that’s going to push up England’s exchange rate, and you get an exchange rate premium on top of the interest rate you’re getting.
 
So you borrow at a low rate, buy securities yielding a higher rate, all on credit for debt-financed capital gains.
 
None of this has anything to do with actual GDP production or incomes for the non-financial sector, except to interfere with it, as I’ll explain.

The decline in the dollar’s exchange rate is probably going to exceed the interest that you make on the American bond. And if that’s the case, then why would foreign investors and governments and national wealth funds want to invest in the United States? If the highest returns are likely to be made abroad, it’ll weaken the dollar. That’s going to raise prices and higher import costs, plus the tariffs.

And the result is that Trump is actually destroying America’s financial free lunch of being able to run a balance-of-payments deficit without limit. But he’s spurring the stock market. And as Adam Smith said: Wealth is very often most apparent in countries “going fastest to ruin.”

Well, that’s exactly what’s happening in the United States. We’re seeing what the classical economists realize: When you let the income be made not by production, not by industrial capital, businesses, or labor’s living standards, but solely in a financial way, that is purely manipulative, and turns out to be anti-labor and also anti-business.

That’s what’s ultimately so destructive about Trump’s Big Beautiful (Budget Deficit) Bill. And it makes a lot of free, easy money for the billionaires and those financial speculators and hedge funds and other capital funds. But in order to make money for themselves in this way, they’re willing to sacrifice the actual business.

Because why would a foreign investor do what Trump has promised that he’s going to do, and move their production facilities, their automobile companies, and others, into the United States? They can’t, despite the high tariffs in the United States that keep Japan’s cars out of the United States. And Trump says he’s going to raise the tariffs on Japanese cars and other imports to the U.S. to 35 to 40%. Well, even if Toyota and other companies were to move their plants into the United States to avoid the tariff, they’re going to have to pay a 20% tariff on aluminum, on steel, on the components that go into the car.

It’s not going to work.

The whole bill and the logic that the economics profession is trying to popularize turns out to be junk economics that’s going to be destructive because lower interest rates mean easier debt financing. That’ll increase the stock and bond prices for the wealthy, not consumer prices. But the consumer prices are going to rise anyway because of the tariff policy.

And you can be sure that a lot of the tax cuts that are being given are going to be spent on buying up yet more real estate, concentrating the absentee-landlord-owned real estate at the expense of homeowners.

So they’re ending the membership in the middle class that, as Richard just said, is supposed to be what America is all about.

So the effect of the giveaway to the financial sector is going to accelerate America’s de-industrialization. And that’s the dynamic of today’s finance capitalism. And because it’s the dynamic, that’s why the big campaign donors — indeed, as Richard said — threw all their support behind him to make sure he was the candidate. 

 
It paints a picture of a wealthy investor class de-industrializing and plundering (as you said) the American economy for financial gain. Importantly, it's not the kind of investment that stimulates the economy. Trump's economic policy is helping them in this.

As for which of your options we're likely dealing with, I think it will probably end up being option 3: They plunder to their heart's content but future presidents reverse course again. Some of the damage will have been done, obviously. If there is an actual crash, I don't think there will be a move to crypto. Investors will simply move their wealth overseas and invest in China or wherever.

Coincidentally, I downloaded Hudson's book Super Imperialism a week ago. Haven't found the time to start reading yet but I'm looking forward to it. If you're also interested, maybe we can both read it and discuss.

[quintessentone]

Thats why I think it feels like we are in a two option scenario either of which is feasible, I tried to allude to:
1. they know its crashing so they are in plunder mode and dont care because they will hunker down for the crash and reset to a digital CBDC crap /crypto AI fake money
2. they know its crashing so they are in plunder mode and dont care because they will prop it up at the last minute with space minerals, earth minerals,  more gold we found asteroid mining and another push for military business as usual at the end. 
Either way it's going down slowly or quickly.

The question is is it being made to go down on purpose to implement these new systems?

Follow the crypto and gold sales and shares now?

[Harte]

I am glad it passed just as you are, but how does increasing our debt help any American exactly? Even FOX and NEWSMAX commentators are questioning the same thing. Adding more to the debt after negations and then it passes the house to hit the desk raises many alarms.

If the bill had failed, the Dems would have a better shot at the midterms.
Their increase in the deficit would make this one look like a reduction.

People need to come to terms with the fact that passing any bill requires compromise. Despite what the leftists say, we don't live in a dictatorship. Sitting on your hands because a bill increases the deficit is a sure-fire way to increase the deficit even further.

Harte

[Harte]

Oregon has initiated "fees" for processing tips in payroll in lieu of taxes.

I don't think so.
Got a link?

I mean, Oregon employers have already been charging fees on credit card tips because processing those costs the employer.

Harte

[Harte]

Trump’s Big Beautiful Bill: - forbids states from regulating AI for 10 years, -centralizes control at the federal level -integrates all AI systems nationwide into federal government agencies. Do you get it yet?

That provision was removed in the Senate and is not part of the bill that was passed.

Harte

[sahgwa]

Follow the crypto and gold sales and shares now?

Speaking of crypto this is all related to the BBB.

Question is WHO made this money and where did they put it? 

:

Over the Past 24 Hours Eight Dormant Bitcoin Wallets Were Awakened for First Time in 14 Years on the 4th of July Withdrawing 80.009 Bitcoins Equaling $8.69 Billion
by Jim Hoft 
Jul. 5, 2025 3:00 pm



https://www.thegatewaypundit.com/2025/07...n-wallets/