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   <title>Arnaud Bertrand (@RnaudBertrand): &quot;This is batshit insane, no other way to call it. We now have the first attempt by the White House—specifically by Steve Miran, the Chair of the Council of Economic Advisers—to justify the tariffs based on economic &quot;theory&quot;, and it's without a doubt the most dishonest piece of economic reading that's I've ever had the misfortune to lay my eyes upon. The gist of Miran's argument is to reposition the global reserve currency status of the dollar not as an exorbitant privilege (as erstwhile French President Valéry Giscard d'Estaing once characterized it), but as somehow a &quot;burden&quot; that the rest of the world needs to compensate the US for bearing. As Miran explains it, having the dollar as a reserve currency &quot;has caused persistent currency distortions and contributed, along with other countries’ unfair barriers to trade, to unsustainable trade deficits&quot; which &quot;have decimated our manufacturing sector.&quot; So he wants to give up the reserve currency status of the dollar, right? Wrong. He wants to have it both ways. He says that America's &quot;financial dominance cannot be taken for granted; and the Trump Administration is determined to preserve [it]&quot; but this same financial dominance &quot;comes at a cost&quot; and &quot;other nations&quot; need to pay for it. And he means this literally. He made a list of what exactly he means by &quot;burden sharing&quot; and one of the forms it can take is countries &quot;simply writ[ing] checks to Treasury that help us finance global public goods.&quot; Let's pause a moment here to contemplate the sheer insanity of this: the U.S. is literally suggesting that countries should mail checks to the US Treasury as tribute for the 'privilege' of maintaining the dollar as a global reserve currency, when it is this very reserve status of the dollar that is the cornerstone of US power. It's the equivalent of Samson asking everyone to pay him to keep his hair. Because that's what Miran is conveniently not mentioning in his text. The reason Giscard d'Estaing called it an &quot;exorbitant privilege&quot; is that it allows the U.S. to quite literally have its way of life subsidized by the rest of the world. Miran (and Trump) complain about the trade deficits, but they are the very manifestation of this subsidization: countries normally cannot run a permanent trade deficit because they'd one day face a balance of payments crisis. It's like a private individual: you cannot indefinitely buy more from others than what you yourself earn. At some point you'll have to pay up. Unless, that is, you're the issuer of the currency everyone uses, in which case the normal rules of economic gravity are suspended. While other nations must balance their books eventually, the dollar's reserve status gives America the unique ability to consume more than it produces perpetually, with the world eagerly accepting dollars that cost nothing to create in exchange for real goods and services. That's not a &quot;burden&quot;, it very much is an &quot;exorbitant privilege&quot;. So yes, sure, because America can effectively buy most of what it needs from the rest of the world for &quot;free&quot; (by printing dollars), this situation doesn't exactly create incentives to do the hard work of manufacturing goods domestically. But framing this as other countries taking advantage of America rather than America taking advantage of its currency dominance is an astonishing inversion of reality. And even more astonishing is Miran's ask that countries now compensate the U.S. for this. Some people mention that it's like asking vassals for tribute but it's actually even worse than this. The tribute is already embedded in the global reserve currency status of the dollar: other countries work hard for the U.S. while they can just issue IOUs that never come due. What Miran is thus proposing is effectively demanding vassals make payments for the privilege of already making payments—a double tribute system where countries first subsidize American living standards by accepting dollars as reserves, and then must pay an additional fee for the 'burden' this supposedly places on the US. Miran's piece is replete with other complete inversions of reality. For instance, he now blames China for the 2008 crash because &quot;their holdings of U.S. mortgage debt helped fuel the housing bubble, forcing hundreds of billions of dollars of credit into the housing sector without regard as to whether the investments made sense.&quot; Anyone with even a rudimentary knowledge of the 2008 financial crisis would have their breath taken away by such brazen revisionism. Not only is the crisis universally known to have been caused by US regulatory failures and the reckless securitization of subprime mortgages by Wall Street firms, but China in this instance literally saved U.S. markets from complete meltdown after Hank Paulson personally appealed to Beijing to continue purchasing US Treasury bonds during the height of the crisis, which they did. To now blame them for the very crisis they helped mitigate and played no part in creating is beyond dishonest—it's gaslighting on a geopolitical scale. All in all, it's clear what the US is trying to achieve here, they effectively want to have their cake and eat it. They want to keep the privilege and want the rest of the world to pay for the downsides that come with it. Which means we're truly at a crossroad in history where nations must make an immensely consequential choice: acquiesce to this insane double tribute system or stand against it. There are very few precedents in world history for such a nakedly exploitative power play, but history is very clear on two things: submitting to extortion only invites more of it, and collective resistance is the only effective response.&quot; | nitter</title>
   <link>https://archive.ph/GiwyJ</link>
   <pubDate>Thu, 10 Apr 2025 07:58:32 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:32Z from <a target="_blank" href="https://nitter.net/RnaudBertrand/status/1909802994717372516">https://nitter.net/RnaudBertrand/status/1909802994717372516</a></div>
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   <title>中川淳一郎 on X: &quot;結局メディアはコロナ陽性でキツい思いをした著名人をなかなか探せなかったな。明らかに肥満のハチミツ二郎がそりゃ重宝されるわ。野球選手なんて全員ピンピンしてるじゃねぇか。一方ワク打った後、急性心筋梗塞で亡くなった中日の27歳の木下投手のことは華麗にスルー。「コロナは怖い」設定崩せぬだけ&quot; / X</title>
   <link>https://archive.ph/srclm</link>
   <pubDate>Thu, 10 Apr 2025 07:58:31 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:31Z from <a target="_blank" href="https://x.com/unkotaberuno/status/1519206315762933760">https://x.com/unkotaberuno/status/1519206315762933760</a></div>
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   <title>返済期間短縮チェッカー｜司法書士法人・行政書士Hana法務事務所</title>
   <link>https://archive.ph/hHQ94</link>
   <pubDate>Thu, 10 Apr 2025 07:58:30 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:30Z from <a target="_blank" href="https://gengaku-simulator-h.com/s/form-sp95/?IdAd=8196&amp;ldtag_cl=IaPpnZvsRViwlTcYlOYa7AAA">https://gengaku-simulator-h.com/s/form-sp95/?IdAd=8196&amp;ldtag_cl=IaPpnZvsRViwlTcYlOYa7AAA</a></div>
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   <title>稲垣太郎 on X: &quot;@Mari3Q3 おはようございます&#x1F609;✋早く週末来ないかなぁ。 今日もよろしくお願いします&#x1F647;⤵️&quot; / X</title>
   <link>https://archive.ph/Edcxl</link>
   <pubDate>Thu, 10 Apr 2025 07:58:29 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:29Z from <a target="_blank" href="https://x.com/taroumaru025/status/1909700082347429994?mx=2">https://x.com/taroumaru025/status/1909700082347429994?mx=2</a></div>
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   <title>&#x1D643;&#x1D63C;&#x1D655;&#x1D640;&#x1D649;&#x1D647;&#x1D640;&#x1D640; on X: &quot;1. 千万不要睡天桥、大街、网吧、公园 2. 过夜就去机场大厅，这里不仅有地方睡觉，还供应热水，手机充电甚至连无线网都可以 3.睡醒了直接去麦当劳，找个别人喝剩的咖啡杯，然后去前台无限续杯 4.中午在附近找一家酒店，很多房间退完房门都是开着的，找个没人的房间就能冲个热水澡&quot; / X</title>
   <link>https://archive.ph/DaxwE</link>
   <pubDate>Thu, 10 Apr 2025 07:58:28 GMT</pubDate>
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   <title>ANC conducts flurry of meetings as coalition crisis drags on – The Mail &amp; Guardian</title>
   <link>https://archive.ph/gFb9n</link>
   <pubDate>Thu, 10 Apr 2025 07:58:27 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:27Z from <a target="_blank" href="https://mg.co.za/politics/2025-04-09-anc-conducts-flurry-of-meetings-as-coalition-crisis-drags-on/">https://mg.co.za/politics/2025-04-09-anc-conducts-flurry-of-meetings-as-coalition-crisis-drags-on/</a></div>
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   <title>Chimica nel 95% dei manufatti, impatto negativo sui settori clienti - Il Sole 24 ORE</title>
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   <title>Weta VFX studio opens in Melbourne</title>
   <link>https://archive.ph/2NRV0</link>
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     <div>archived 2025-04-10T07:58:26Z from <a target="_blank" href="https://www.theage.com.au/culture/movies/this-major-visual-effects-studio-is-bringing-australia-s-best-talent-home-20250409-p5lqd4.html">https://www.theage.com.au/culture/movies/this-major-visual-effects-studio-is-bringing-australia-s-best-talent-home-20250409-p5lqd4.html</a></div>
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   <title>Roommate cucks you during a game - ThisVid.com</title>
   <link>https://archive.ph/ezR7Z</link>
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     <div>archived 2025-04-10T07:58:23Z from <a target="_blank" href="https://thisvid.com/videos/roommate-cucks-you-during-a-game/">https://thisvid.com/videos/roommate-cucks-you-during-a-game/</a></div>
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   <title>차단 내역 - 나무위키</title>
   <link>https://archive.ph/0IxUC</link>
   <pubDate>Thu, 10 Apr 2025 07:58:23 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:23Z from <a target="_blank" href="https://namu.wiki/BlockHistory?query=HyundaiWBLX1&amp;target=text">https://namu.wiki/BlockHistory?query=HyundaiWBLX1&amp;target=text</a></div>
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   <title>Schwefel-Düngung: Wie wirksam ist elementarer Schwefel? - Effizient düngen</title>
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   <pubDate>Thu, 10 Apr 2025 07:58:22 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:22Z from <a target="_blank" href="https://www.effizientduengen.de/2013/schwefel-duengung-wie-wirksam-ist-elementarer-schwefel/">https://www.effizientduengen.de/2013/schwefel-duengung-wie-wirksam-ist-elementarer-schwefel/</a></div>
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   <title>디시인사이드 갤로그</title>
   <link>https://archive.ph/LeR0W</link>
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     <div>archived 2025-04-10T07:58:22Z from <a target="_blank" href="https://gallog.dcinside.com/apple0455">https://gallog.dcinside.com/apple0455</a></div>
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   <title>AJ Michalka - Photos - IMDb</title>
   <link>https://archive.ph/1LcVj</link>
   <pubDate>Thu, 10 Apr 2025 07:58:21 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:21Z from <a target="_blank" href="https://m.imdb.com/name/nm1404488/mediaindex/?ref_=nmmi_mi&amp;contentTypes=product">https://m.imdb.com/name/nm1404488/mediaindex/?ref_=nmmi_mi&amp;contentTypes=product</a></div>
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   <title>Wage wait goes on | TradeWinds</title>
   <link>https://archive.ph/dxc7i</link>
   <pubDate>Thu, 10 Apr 2025 07:58:20 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:20Z from <a target="_blank" href="https://www.tradewindsnews.com/finance/wage-wait-goes-on/1-1-285671">https://www.tradewindsnews.com/finance/wage-wait-goes-on/1-1-285671</a></div>
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   <title>‘Some legal fees are hard to justify, and to defend. Maybe I have been paid some of them myself’ – Director General of the IIEA Alex White | Irish Independent</title>
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   <pubDate>Thu, 10 Apr 2025 07:58:20 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:20Z from <a target="_blank" href="https://www.independent.ie/business/some-legal-fees-are-hard-to-justify-and-to-defend-maybe-i-have-been-paid-some-of-them-myself-director-general-of-the-iiea-alex-white/a1982627388.html">https://www.independent.ie/business/some-legal-fees-are-hard-to-justify-and-to-defend-maybe-i-have-been-paid-some-of-them-myself-director-general-of-the-iiea-alex-white/a1982627388.html</a></div>
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   <title>AJ Michalka - Photos - IMDb</title>
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   <title>hakurei reimu (touhou) drawn by yueri_(yumi) | Danbooru</title>
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     <div>archived 2025-04-10T07:58:17Z from <a target="_blank" href="https://danbooru.donmai.us/posts/1096505">https://danbooru.donmai.us/posts/1096505</a></div>
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   <title>EXP Files: What to Do If You Don't Have CATIA Export File</title>
   <link>https://archive.ph/A5dvg</link>
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     <div>archived 2025-04-10T07:58:16Z from <a target="_blank" href="https://www.filemagic.com/en/3d-image-files/exp-file-extension/exp-files-what-to-do-if-you-don-t-have-catia-export-file-software/">https://www.filemagic.com/en/3d-image-files/exp-file-extension/exp-files-what-to-do-if-you-don-t-have-catia-export-file-software/</a></div>
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   <title>+DON SIMONI on X: &quot;La #Politique ce sont des résultats et voici à quoi peut s'attendre le PR #Macron qui persiste dans ses #Zigzags en faveur des #islamistes de fait avec la &quot;reconnaissance&quot;&#x1F1F5;&#x1F1F8;&#x1F525;&#x1F426;‍⬛ 1&#x1F441;️#Référendum&#x1F44D;s'impose face à la gravité de la situation de la &#x1F1EB;&#x1F1F7; &#x1F4A5;sa #Sécurité-#Liberté-#Laïcité&#x1F44A; https://t.co/PpJWgY4KGB&quot; / X</title>
   <link>https://archive.ph/ZFSTV</link>
   <pubDate>Thu, 10 Apr 2025 07:58:16 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:16Z from <a target="_blank" href="https://x.com/YvesDON/status/1910232919194415482">https://x.com/YvesDON/status/1910232919194415482</a></div>
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   <title>Mickey on X: &quot;So the internet got wind of this checked AI... using ChatGPT, Grok, Claude, and Gemini to see what they would say when asking how to formulate tariff policy. And... You guessed it. All the LLMS gave the exact retarded formula that the White House Published. https://t.co/PqhsmhZUJD&quot; / X</title>
   <link>https://archive.ph/MRdHf</link>
   <pubDate>Thu, 10 Apr 2025 07:58:14 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:14Z from <a target="_blank" href="https://x.com/Mickey4x/status/1907674330127020244">https://x.com/Mickey4x/status/1907674330127020244</a></div>
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   <title>Press Ahead on the Hostage Issue - CSMonitor.com</title>
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     <div>archived 2025-04-10T07:58:14Z from <a target="_blank" href="https://www.csmonitor.com/1991/0911/11204.html">https://www.csmonitor.com/1991/0911/11204.html</a></div>
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   <title>Posts with replies by +DON SIMONI (@YvesDON) / X</title>
   <link>https://archive.ph/IZiIP</link>
   <pubDate>Thu, 10 Apr 2025 07:58:13 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:13Z from <a target="_blank" href="https://x.com/YvesDON/with_replies">https://x.com/YvesDON/with_replies</a></div>
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   <title>사용자:SSGNEmart - 나무위키</title>
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   <pubDate>Thu, 10 Apr 2025 07:58:12 GMT</pubDate>
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     <div>archived 2025-04-10T07:58:12Z from <a target="_blank" href="https://namu.wiki/w/사용자:SSGNEmart">https://namu.wiki/w/사용자:SSGNEmart</a></div>
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