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no but expect the US to start invading weaker countries that depeg from the dollar. the US is, at present, the world's reserve currency. that status is what cre
by acomar 4y ago
no but expect the US to start invading weaker countries that depeg from the dollar. the US is, at present, the world's reserve currency. that status is what creates the petrodollar. as countries move towards Russia or China, that hegemony is threatened.
- me_again 4y agoWhat countries peg to the dollar that you think are in danger of being invaded?
- acomar 4y agoa lot of the African nations moving closer to China come to mind
- me_again 4y agoPer https://en.wikipedia.org/wiki/List_of_circulating_fixed_exchange_rate_currencies https://en.wikipedia.org/wiki/List_of_circulating_fixed_exch... the only African country with a currency pegged to the dollar is Eritrea. Not really seeing it.
- acomar 4y agoyou're aware that barrels of oil are sold in USD and this status is what maintains the American position as the world's reserve currency, right? you're also aware of the wars, coups, and sanctions that have been used over the past 60 years to maintain that position? Venezuela and Iran are the only two countries to have left that standard and we've ratcheted up sanctions on both in response.
- me_again 4y agoI wouldn't claim the US is some miracle of innocence. You said "countries that depeg". Pegging, in the context of cryptocurrencies and regular ones, means something specific: ensuring that the exchange rate between the 2 is fixed within a certain band. I don't believe that the US is threatened by whether other countries peg their currency to the dollar or not. The dollar's use as reserve currency is a separate matter.
- bombolo 4y agoLybia. https://news.ycombinator.com/item?id=35107971 https://news.ycombinator.com/item?id=35107971