When the Dollar is dropped as the Global Reserve Currency - there will be no successor. There will simply be unilateral and multilateral bartering.
Global Trade as we knew it is coming to an end. US Manufacturing will actually get a longterm boost from it.
China builds coal power plants so they will have electricity to support their manufacturing. The US closes coal power plants.
“Global Trade as we knew it is coming to an end. US Manufacturing will actually get a longterm boost from it.”
When the dollar loses its reserve currency status where will the capital come from to boost US manufacturing? Unless the federal government dramatically reduces spending its ever accelerating rate of taxation and borrowing will consume the national savings and starve the private sector of capital for investment.
When the Dollar is dropped as the Global Reserve Currency - there will be no successor. There will simply be unilateral and multilateral bartering.
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That’s how money starts. Money is what people want to get the most when they barter.
People who bartered wanted salt more than anything else, so salt become money. Later, people wanted to barter to get gold, because they could store it and use it later to get things, and gold became money.