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I think it would put us on par with other countries, we would lose a nice advantage. Worst case scenario would be a sharp economic decline, but I optimistically
by mark_l_watson 7y ago
I think it would put us on par with other countries, we would lose a nice advantage. Worst case scenario would be a sharp economic decline, but I optimistically think it would be a slow leveling out, a slow decline in consumer purchasing power, limit government expenditures, etc. But, I am not at all sure what will happen.
- shostack 7y agoDo you think that hostile foreign nations are actively trying to end the run of the petrodollar?
- mark_l_watson 7y agoI think the point of the original article is yes, it is in some other countries interests to end the dollar being the sole reserve currency. On the other hand, the USA provides stability, so everyone who is rational in the world should want any transition to be slow. The whole world is in this together, I think we prosper together, or suffer together. Let’s hope for the first option.