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> The world can afford to let Venezuela fail, but if the USA fails, the whole world goes down with it Hypothetically if the riots at the Capitol had gotten rea
by grecy 6y ago
> The world can afford to let Venezuela fail, but if the USA fails, the whole world goes down with it
Hypothetically if the riots at the Capitol had gotten really bad and America fell even close to Civil War a couple of weeks ago, I'm quite certain the rest of the Developed World would have quickly switched to using the Euro or the Yen or the Yuan or some combination of those and more.
I seriously doubt it would take more than a few days before the rest of the world moved on without the US.
- disgruntledphd2 6y agoThere's no real Euro safe asset equivalent to Treasuries. Until that changes, the dollar is here to stay.
- netsharc 6y agoI'm not an expert in this area, but I doubt the world changing their debt to a different currency is that simplistic... and I doubt you're an expert either. For one thing everyone wanting to get rid of their USD and buying EUR would cause the USD to crash and EUR to spike, so, well, there's their economic crisis (because suddenly your 10000 USD debt would turn from a ca. 8200 EUR debt to something like a 20000 EUR one).