Dollar hegamony is ending.. (generation, Whitehouse, border, economy)
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You are going to have to add a few more letters to the "BRICS" group... as more of the world aligns against the US dollar and the way it has been abused for political reasons. The petro dollar stronghold is ending and when the tide goes out the world will see if we really have a big stick or not...
Economically speaking, certain countries need to be 500 million people strong at least, to create its own currency and industrial zone. Not the question of production, it's the question of consumption. Malaysia, for example, is a great producer but has no internal consumer market.
If you do a basic math, BRICS is already there. With Saudis headed their way(there goes your petro dollar) any time soon and, list of waiting opening, yes, they will have their own currency or, will come up with a way to use their existing ones.
This trend has been going on in mini steps for decades. A generation ago many of us thought it inevitable in a generation.
But a few things to keep in mind.
A future larger global economy does not mean the end for the USD by any means.
China is the only one with the potential to create an substantial new global reserve. And they still have a very long way to go to process all that is needed in so doing. Meaning they have to create massive new moneys and send them out into the world, as the US has done since WW2. China is still a massive exporting nation with cross border currency controls.
Check out Mish Shedlock's blog. IMO he has been handing out some really good and usefully related posts for a long time now.
Oh no, no. The dollar and our economy could never, ever be in trouble. We're special. And things that have happened many times throughout history could never, ever happen to us. Because, like I said, we're special.
It's not going to be an overnight shift...it's going to be a slow erosion.
Slow because all that new money will require time to create, distribute and then be accepted globally.
There should be some good future money to be made there by all of us with current dollar based businesses and investments.
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