No alternative? Well the reason this is being discussed is because there is an alternative. You create a false dichotomy - the only alternative for a universal currency is the $$. But what if the problems with a universal currency are greater than the benefits.
And, there are lots of problems in large part becausethe US treats the $$ as a leash to bend other countries to its will rather than as a means of assuring economic and personal freedom. We have seen this through the control of SWIFT and sanctions and then the massive tax imposed upon the whole world to fund our spendthrift corrupt ways like printing money to dilute the world’s reserve currancy. Basically we are treating the rest of the world as our piggy bank. Talk about a universal global tax - we already have one with the US [deep state] as the beneficiary.
That is why there is growing resistance to the $$ as the sole universal reserve currency. If Argetina does what the US does it gets hyperinflation, collapse of its currency and intervention by the IMF and World Bank. That could be OUR future.
RE: Well the reason this is being discussed is because there is an alternative.
OK, I’m all ears. Tell us what the practical alternative is, or would be. As an investor, I am open to it, if it exists or will exist.