Who wants to hold the yuan when Chinese citizens can’t even get their deposits out of the Chinese banks?
Who wants to hold rubles when you can’t spend the anywhere but Russia. And you can’t take dividends out of Russia?
Russian inflation rate 2021 6.9% 2022 17.8%
I don’t think we have much to worry about.
Not right now, anyways.
If the nukes fly they will lose quite a bit too.
Instead, worrying about harming Russia, you should be worried the idiot sanction war Biden got us into with the Russians.
Who wants to hold dollars when their own government is laboring hammer and tong to destroy them?
I bet that the accumulated Russian inflation for 2022 is going to be below that of the US. It is actually a factor of globalization and going to get better once Russia fully decoples from the Western system.
And American citizens can get their US dollars out of American banks?
Didn't some American banks in conjunction with each other a few months ago, decide to cancel the accounts of some President Trump supporters and deny them banking facilities?
Not to mention this new reserve currency is neither the Yuan nor the Ruble, but a new currency supported by the BRICS countries including India and Brazil as well as China and Russia.
And why should these countries hold their reserves in dollars when Dementia Joe just keeps over spending by Trillions of dollars and making it up massive printing of new dollars or borrowing.
Russian inflation rate 2021 6.9% 2022 17.8%
Can you tell us what the latest US inflation rate is?
Is it not 9.1% which is higher than the Russian 6.9% you are just trashing?
I don't think we have much to worry about
Oh we do,
The BRICS countries make up close to 50% of the world's population already, with new members joining even as we speak.
Is it going to have effect on America if these countries take their reserves elsewhere? Of course it will.
Well I suspect this new reserve currency will be back more than the “faith and trust of the US government”.