Reserve currency is great for interest rates, because Americans get their interest rates subsidized by the rest of the world, but its drawback is abusive politicians who borrow money to the point of unsustainability.
Then why do ascendant powers want to have it?
Review
It’s never a good thing when the nation you love and call home loses stature.
Could be ok in the long run. But there is a decade or two of massive inflation, misery and deep changes before ii becomes ok for regular people.
If it means that the Neocons can no longer run around the world starting wars, then I’m for it.
This is pretty much uncharted territory with hypothetical consequences. I’ve tried to compare the switch from the Pound Sterling to the US Dollar as the world’s reserve currency, but there are too many differences between today and the 30’ leading into WWII. For most, a change today is instinctively scary. It’s much more comfortable living with the status quo. Perhaps that’s the real problem, the status quo that is. Other nations are in an ascendancy and quite honestly the U.S. is either stagnant or in decline.
Politicans buy votes. When they can’t borrow or tax to get it they inflate the currency creating inflation. The rest of the world eventually figures out the dollar is becoming worthless and finds another way to conduct trade . The rest of the world has been funding this Insane spending by using our dollars and won’t be a sucker for much longer.
The Euro was supposed to unseat the dollar?
The always wrong were wrong again?
Instead USD went fr 72% to 65% of all global commerce=
this while the US has debased the dollar about 90% since Nixon left the gold standard and assured us no loss of purchasing power.
Notice how the author did not include a current number?
no different than leaving the race out of crime pieces.
last thing on earth to know is that despite endlessly debasing the USD, the world cannot function without it.
Stupid headline, posing a ludicrous rhetorical question.
"Is It a Good Thing to Lose Your Job, Get Kicked to the Curb, and End Up on Skid Row, Renting Out Your Body Orifices to Random Passersby for Spare Change?"
Gee, let me think about that for a while!
Regards,
We could simply look to Norway and Switzerland to see that.
Or we could look at Venezuela.
There is no upside for us if the dollar is no longer the reserve currency.
I love how this TDSer throws Trump’s name into this tome.
It doesn’t matter as we are soon going to be in an international banking system where everyone’s currency will be backed by hard assets. There will be a one for one exchange between the currencies. The dollar is soon going to be replaced by the US Treasury note which will be gold/silver backed. We are all going to be BRICs. That’s why you are watching the Current banking system collapse.
Ping for later