3 ms·

there is a crisis in the usd though. it is fast losing its status as world reserve currency and coincidentally today we are at a footstep of ww3 ;)

sgt101 4y ago
Well - define fast. It's amazing to me that USD has been the world reserve currency for so long. Historically only silver has done better.
- medo-bear 4y ago
  > define fast as in the order of things in the world is changing so fast we have little time to analyze root causes. some examples we went from being too scared to visit family because of a flu virus to pumping our chests against a super power in a blink of an eye the us just approved a massive military package to ukraine that dwarfs anything given to israel and at a time us has trouble getting baby formula forget crypto ... the world economy is on the verge of total collapse and this all is tied to the is dollar because ... well ... of its current status as world reserve currency
  - Axsuul 4y ago
    None of these things matter at all. Thanks to the US military, USD as the reserve currency remains.
    - sgt101 4y ago
      Agree - the power to open markets, guarentee acccess and obtain resources is what underpins it. As the Russians are showing us, no one else has a fraction of that capability.
      - medo-bear 4y ago
        whether we like it or not the us ability to carry on unchallanged has noticably diminished in comparison to the period from 1990 to 2010 also ... if ukraine-russia conflict is showing us anything it is that the natural resources question is far from certain. if we are to learn from history we would hastily take note that it is the question of resources that brought about the first world war
    - medo-bear 4y ago
      of course it matters. it devalues the us dollar as a stable reserve
      - Axsuul 4y ago
        How does Ukraine aid devalue USD? If anything, it helps keep it in power by weakening Russia and furthering the US hegemony.
        medo-bear 4y ago
        its a massive investment and if you look at it this way you have to ask, is ukraine such a sure bet and what are the consequences of that investment going south. and the failure to ask these questions is indicative that too many people see the usd as being in unlimited supply, which by itself devalues the usd
        Axsuul 4y ago
        Nothing is a sure bet but leaving Russian aggression unchecked destabilizes the region. The world counts on the US to maintain the peace and status quo. As long as there's still confidence in that, the US currency will continue being the world's reserve currency along with all the benefits that come with that.
        medo-bear 4y ago
        > The world counts on the US to maintain the peace and status quo ok
spiralx 4y ago
Reducing the use of the USD as a reserve currency has been US policy for a while now. It only accounts for 60% of global reserves right now and has been trending down for a long time.

sgt101 4y ago

Well - define fast. It's amazing to me that USD has been the world reserve currency for so long. Historically only silver has done better.

medo-bear 4y ago
> define fast as in the order of things in the world is changing so fast we have little time to analyze root causes. some examples we went from being too scared to visit family because of a flu virus to pumping our chests against a super power in a blink of an eye the us just approved a massive military package to ukraine that dwarfs anything given to israel and at a time us has trouble getting baby formula forget crypto ... the world economy is on the verge of total collapse and this all is tied to the is dollar because ... well ... of its current status as world reserve currency
- Axsuul 4y ago
  None of these things matter at all. Thanks to the US military, USD as the reserve currency remains.
  - sgt101 4y ago
    Agree - the power to open markets, guarentee acccess and obtain resources is what underpins it. As the Russians are showing us, no one else has a fraction of that capability.
    - medo-bear 4y ago
      whether we like it or not the us ability to carry on unchallanged has noticably diminished in comparison to the period from 1990 to 2010 also ... if ukraine-russia conflict is showing us anything it is that the natural resources question is far from certain. if we are to learn from history we would hastily take note that it is the question of resources that brought about the first world war
  - medo-bear 4y ago
    of course it matters. it devalues the us dollar as a stable reserve
    - Axsuul 4y ago
      How does Ukraine aid devalue USD? If anything, it helps keep it in power by weakening Russia and furthering the US hegemony.
      - medo-bear 4y ago
        its a massive investment and if you look at it this way you have to ask, is ukraine such a sure bet and what are the consequences of that investment going south. and the failure to ask these questions is indicative that too many people see the usd as being in unlimited supply, which by itself devalues the usd
        Axsuul 4y ago
        Nothing is a sure bet but leaving Russian aggression unchecked destabilizes the region. The world counts on the US to maintain the peace and status quo. As long as there's still confidence in that, the US currency will continue being the world's reserve currency along with all the benefits that come with that.
        medo-bear 4y ago
        > The world counts on the US to maintain the peace and status quo ok

spiralx 4y ago

Reducing the use of the USD as a reserve currency has been US policy for a while now. It only accounts for 60% of global reserves right now and has been trending down for a long time.