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Dollar is backed by the US military. A credible dedollarization threat will mean that the US will use it's military might to stop it in any way it can. Saddam t
by DuckFeathers 3y ago
Dollar is backed by the US military. A credible dedollarization threat will mean that the US will use it's military might to stop it in any way it can. Saddam tried it, Gaddafi tried it... Iran and Venezuala have been trying it and Russia, China and now some middle eastern superpowers have been toying with it.
So far, none of them have had any teeth and it is unlikely that it will happen anytime soon (not in the next 50-100 years).
- seunosewa 3y agoWhy aren't US interests threatened by the Euro?
- dukeyukey 3y agoBecause control of the Euro is split between lots of argumentative, economically-varying countries who are instinctively more interventionist than the US.
- RA_Fisher 3y agoWho has higher inflation?
- imtringued 3y agoThe ones who "printed" less money.
- rat87 3y agoThe parent comment is conspiratorial. The Iraq invasion was stupid and immoral but there's no evidence it had anything to do with currency plans. The Euro is indeed most likely to overtake the US dollar (although not anytime soon) but they are likely to remain close allies and the dollars status as a reserve currency isn't all upside anyways(it makes our exports less competitive)
- DuckFeathers 3y agoThe US interests own Euro with the help of NATO.
- FormerBandmate 3y agoGaddafi was overthrown by his own people
- thegaulofthem 3y agoWestern countries armed rebels and denied Libyan military their own air space with a no-fly-zone. Hardly a lack of involvement…
- rat87 3y agosure but the Libyan people started the civil war and there is no evidence any of Gaddafi's crazy gold schemes had anything to do with the civil war (or later western intervention)
- sudosysgen 3y agoWith enough weapons, psyops, and funding, you can start a civil war anywhere. With overwhelming military force, you can make the civil war end in the way you want. Consider that if the US was in Libya's relative standing, an external actor of such magnitude could easy have interfered to make Jan. 6 into the start of a civil war. If then you have a foreign country getting involved militarily, it can end however you want. This is true of basically any country in the world.
- DuckFeathers 3y ago"We came, we saw, he died" - Hillary Clinton.
- 8note 3y agoThe dollar is also backed by everyone already having infrastructure set up to accept USD, and both the people to buy from, and the people to sell to already having USD, or wanting to get USD.
- imtringued 3y agoAnd foreign debt in dollars.
- joseda-hg 3y agoVenezuela has been trying... Well, maybe on paper, Citizens have been using USD as defacto national currency for a long while by now
- deleted 3y ago[deleted]