Honestly, despite our major concerns and the non-stop money printing of our government, we should ask ourselves — WHAT IS THE ALTERNATIVE TO THE US DOLLAR as the world’s dominant currency?
There is no clear alternative to the dollar that can match its liquidity, depth, and credibility. The Euro, the Japanese Yen, and the Renminbi all face their own challenges and limitations in becoming global currencies.
Of course, the US Dollar’s status is not guaranteed. Several factors have contributed to the erosion of the dollar’s share of global reserves, trade, and payments, such as the rise of other economies, the diversification of reserve portfolios, the development of digital currencies and cryptocurrencies, and the use of U.S. sanctions.
However, none of these factors alone are likely to dethrone the dollar in the near future.
The dollar still enjoys several advantages that make it attractive as a store of value, a medium of exchange, and a unit of account for both official and private actors. These include the size and strength of the U.S. economy, the stability and openness of its institutions and markets, the availability and safety of dollar-denominated assets, and the network effects of widespread dollar usage.
Therefore, while the dollar’s dominance may decline gradually over time, it is unlikely to be replaced by another single currency anytime soon.
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.
So am I supposed to swap out the dollars under my mattress for Yuan?
Agree. But, the Globalists believe they can produce an all electronic univeral substitute.
Of course, they can. /sarcasm
Look at how those fakes handled the Covid Crisis and the Great Reset should be child play?
NOPE. Not only NO, but H NO.