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My prediction early on in this war is that America and Europe's sanctions would lead to a collapse of the dollar system. While we're all cheering ourselves on f
by anon291 4y ago
My prediction early on in this war is that America and Europe's sanctions would lead to a collapse of the dollar system. While we're all cheering ourselves on for 'solidarity' with the world, most Americans see 'the world' as just Europe, Canada, Australia, and NZ. They forget that most people on the planet live in other countries, and are not as influenced by the Anglosphere / the West.
People also don't understand that such a thing doesn't happen by people suddenly stopping the use of dollars but rather as the building up of parallel systems slowly over time until one day someone wakes up and asks 'Wait, why do we have dollars anymore?'. But by then, it's too late. Oops.
- trafficante 4y agoThe US has done virtually everything it can for nearly two generations to preserve the dominance of the USD as the global reserve currency - going as far as launching coups and troops-on-the-ground campaigns. I think that’s what I find most alarming about this Ukraine thing (discounting nuclear escalation, of course). Weaponizing the reserve currency against Russia was obviously going to have this effect, so why in the world did they score such an obvious own-goal against one of the key pillars of American Empire which has been maintained at nearly all costs since WWII? Incompetence is the obvious answer but is a bit too pithy for my liking. Maintaining the reserve currency has been an undisputed priority across party lines for my entire life and publicly weaponizing it against Russia for little gain (even in the best case scenario) simply doesn’t make sense to me.
- aaaaaaaaata 4y agoIt's the only viable weapon (in the court of public opinion) in the current political landscape.