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> the world has faith in US economy That's a bold statement. I guess by "the world" you mean US, EU and Japan. That's not even half of "the world".
by jostiniane 4y ago
> the world has faith in US economy
That's a bold statement. I guess by "the world" you mean US, EU and Japan. That's not even half of "the world".
- Nasrudith 4y agoIt is the leading world dominant reserve currency by far. It is at about 58%. The nearest runner up, the Euro is at about 21%. When even adversaries keep large reserves of US currency I think that is a pretty strong acknowledgement.
- jostiniane 4y agoYeah, a long time ago it was trusted and given that unfair printing advantage, it doesn't mean everyone is happy with that today, nor does it mean it's a measurement of economic strength.
- nl 4y agoI suspect most of the world is unhappy with it. Doesn't mean it isn't the reality though.
- fatjokes 4y agoWut. I don't know of a single entity on earth, government or private, legal or illegal, that wouldn't accept US dollars in some form or other. I wouldn't say the same about Bitcoin, much less other forms of crypto.
- jostiniane 4y ago> on earth Different countries have their own currencies. In most of them, it's illegal to use another's country currency. So this statement doesn't make a lot of sense to me. Regarding most currencies being attached to the USD, it's an old tradition that a lot of entities are trying to get rid of. Some got democracy just for trying to get out of it (Libya comes to mind).
- nl 4y agoThe majority of foreign trade is settled in US dollars. > Some got democracy just for trying to get out of it (Libya comes to mind) This is such a low-effort analysis of the geopolitics of the Arab Spring that it doesn't even make sense to argue.