Yes, the USD doesn’t need to be perfect, it just needs to be the best out there.
None of these are serious rivals:
* Yuan
* Euro
* Ruble
* Bitcoin
* Gold
No sensible operation wants their money in anything other than USD.
“No sensible operation wants their money in anything other than USD.”
Countries or institutions who have had their $US assets seized, or think they are at risk, beg to differ.
I think the obvious competitor is the Euro. It’s nearly as large as the US economy, the FX crosses exist for every country in the world, and they don’t have the history of grabbing people’s assets, and threatening to do it more, even to allies.
You’re joking, surely.
Gold has been money for 5,000 years and has gone up 7 fold against the dollar in the past 25 years.
Its like one of those feel good movies where all the kids in class get together as a team to take down the bully.
"The BRICS countries have different relationships with the U.S., socio-economic challenges, and political systems, but they're united in their belief that the post-Cold War's U.S.-led unipolar world order must urgently be reformed for the betterment of mankind."
https://news.cgtn.com/news/2022-06-24/BRICS-role-in-the-global-systemic-transition-to-multipolarity-1b7pApI2CKQ/index.html
I think you’re right.
BRICs was a nice interim scare, but I’m not convinced it will
win out.
What we do need to do is take a look at things, and start
getting earnest about paying down this debt.
We can do it if we put our mind to it.
Here, let me fix that sentence..
"None of these are serious rivals YET"
Most humans try to anticipate the future from the present and past. Maybe you're different.
No sensible operation wants their money in anything other than USD.
I'm pretty sure those countries and people who had billions of their reserves "seized" might beg to differ with you -- including the people and countries who are watching it all go down.