For several years now, I’ve been harping about the danger of the U.S. greenback losing world reserve currency status — but, this is also the first I’ve heard of “de-dollarize”. It’s an awkward-sounding word; but, we’re probably going to hear a lot more about it (unless someone comes up with a better term soon). The only way the U.S. gets away with “printing money” to pay its foreign debts, is because of the reserve currency status. However, printing money to pay debts is a major abuse of the privilege of having reserve currency status. If more of the world “de-dolarizes”, Americans will get a painful lesson in real-world economics — i.e. economics where balanced budgets actually matter, and where you can’t inflate yourself out of debt.
This is long way from over.
Putin is a Russian locked into the Russian game plan, Crimea is just the first course he is going for all Russia sees as theirs and westerners are analyzing him like he is westerner.
Meanwhile Prez Dithers is working on the design of the new rainbow Marines flag.
Exactly. Thinking the Dollar invincible is hubris.