3d ago

Dollar’s role as global reserve currency under fire

www.wsws.org

At first, it was just a quiet murmur in relatively isolated sections of the financial press. Today, however, the voices are growing louder: the US dollar could lose its role as the world’s global currency amid the breakdown of all the arrangements and mechanisms of the post-war period under the impact of the US economic war against the world initiated by President Trump.

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MURK M'URICAH GREIGHT AG'N

This is what will really put the U.S. soft power out of the game. But, we made our bed electing the asshat, so we deserve this. I hate that it's happening like this, but its probably a good thing for the rest of the world to rely less on the U.S.
- And then real world effects won't be noticed by americans until the next Democrat is in office and they will all blame whoever is president then instead of Trump.
  If Trump ever allows another election that is
- Anarchists ironically winning with decentralization of power

Yup. Trump's idiocy is going to cost America's position as the World Reserve currency. Which in all globalized world means D industrialization of your nation unless you heavily invest in the working class. We created this problem and now want the world to buy American, when we don't make anything of worth.
- I remember when they started to say outsourcing everything was great and how companies moving overseas was awesome for the economy... And blah blah blah... I mean they might have been doing it before but in the 90's ish is when I remember this happening and thought it was dumb as a child... And here we are today...
  
  As a child, I thought hammers were bad. Now that I've hit myself in the head with a hammer repeatedly, I've now confirmed that I was right all along.
- Ehhh. I'm not optimistic about it, but America does make some of the best leather boots and tools on earth...
  but quality has a curve far outreaching usability. That level of peak isn't necessary. It's just nice, and we aren't alone in it. Japan is known for high quality, as is Germany.
  
  Cool... if I ever need leather boots I'll check out the ones from Germany or Japan then.

lol I’ve been calling this ever since it became apparent that, shortly after “liberation day”, most of the holders of US sovereign debt all coordinated to start gradually selling their bonds. THAT is actual 4D geoeconomics chess. We shoot ourselves in the dick with tarrifs, hurt all of our allies, so they respond by putting our balls into a big fiscal vise and are all slowly turning the handle tighter and tighter together. If the imbeciles in charge don’t reverse course at some point in the VERY near future, this is going to lead to the USD being dropped as the global standard. And considering the shit we’re pulling lately, maybe that’s not the worst thing.

Countries all over the world hold a ton of USD debt, so its likely not happening.

Replaced by what? Bitcoin lol?
- Partially, yes, but I think the euro will take over most of this
- CHF 🇨🇭
- Dogecoin? TrumpCoin?

17 comments