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Massive upheaval yes, revolution no. I would say there is a reasonable chance that the USA dollar will lose reserve currency status in the next 10 years. When/i
by danieltillett 6y ago
Massive upheaval yes, revolution no. I would say there is a reasonable chance that the USA dollar will lose reserve currency status in the next 10 years. When/if this happens then everything will change - for an historical parallel look at Great Britain before and after the Great War.
- keiferski 6y agoWhat will replace it as the reserve currency? The other options are not particularly strong. In fact, the COVID situation has only made the dollar stronger (as a reserve currency). https://www.cnbc.com/2020/04/29/why-the-us-dollar-is-still-considered-such-a-safe-currency.html https://www.cnbc.com/2020/04/29/why-the-us-dollar-is-still-c...
- danieltillett 6y agoIf I knew this I wouldn’t be posting in HN :) China is the obvious answer, but I have this feeling that some sort of synthetic currency (not bitcoin) will be created to fill the void.
- keiferski 6y agoUnlikely that the yuan will be the reserve currency unless China makes major reforms. They seem to be headed in the opposite direction, so I don't think this is likely in the near future. Long-term (50-100 years) it definitely could be, though, assuming China democratizes at some point.
- gshdg 6y agoI’d guess the Euro in the short term and the Yuan in the longer term.