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Just wondering. Inflation? Belt tightening on the federal budget level? How to protect investments (ie own gold?). Etc.
Right now with the dollar being the world's currency we can be a bully. Which we have been for several decades now. I'd think countries might eventually get tired of ths.
Right now with the dollar being the world's currency we can be a bully.
Which we have been for several decades now.
I'd think countries might eventually get tired of ths.
Ok so what happens if the USD is no longer the world's currency?
When Bush Jr was faced with this problem he went to war to keep it from happening.
Well, it took 2 world wars to dislodge the British pound and that was after the United States had already passed them economically in the 1890s. And due to their special relationship with the U.S and status as a central ww2 victory power, the pound still remained as one of the key reserve currencies and they still remain a powerful nation.
I don’t care to find out what happens to the world to remove the USD and US military from the dominant position....or to a position so far removed that were not still a key world power.
Last edited by Thatsright19; 10-31-2019 at 07:02 AM..
Just wondering. Inflation? Belt tightening on the federal budget level? How to protect investments (ie own gold?). Etc.
Right now with the dollar being the world's currency we can be a bully. Which we have been for several decades now. I'd think countries might eventually get tired of ths.
The BRICS are tired.
Two ways too look at this:
1- The world decides to use a different reserve currency.
2- Or the USA decides to stop being a world reserve.
The first is more likely the scenario in most people's minds.
The answer today is that there is no other reserve in enough quantity to satisfy the world's demands for safety, stability, liquidity and volume.
Japan is already much more stretched out than the USA. The EU has built in stability problems since they don't have a political unity. A world bank currency would require more global unity, unlikely. The Swiss Franc, not enough volume.
Then there is the most likely candidate, China and the Yuan. For the last generation many have been predicting the rise of the Yuan as a reserve. But over time it has made little inroads.
And this may well be related to reason #2, where China's central command does not want the job.
The Russians have already ditched US currency and use Chinese currency instead,its central bank reserve is gold and Chinese currency.
Someday more central banks would choose to hold more than US currency,but a basket of hard currencies plus gold
The Russians have already ditched US currency and use Chinese currency instead,its central bank reserve is gold and Chinese currency.
Someday more central banks would choose to hold more than US currency,but a basket of hard currencies plus gold
The Russians also have an economy smaller than Texas. So...
Really. Isn't this what Trumpist want? They want America out of a international organizations, out of treaties, out of anything that goes beyond our borders.
The dollar losing its status as a reserve currency is a Trumpers wet dream.
Really. Isn't this what Trumpist want? They want America out of a international organizations, out of treaties, out of anything that goes beyond our borders.
The dollar losing its status as a reserve currency is a Trumpers wet dream.
They’ll have to wait since the USD share of global reserves has been holding steady in the 2/3 range.
The Petro dollar is currently more important than whether the BRICS use the dollar for cross-border transactions.
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