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The article does not support the claim made in the title. Similar claims have been made many, many times. They never come to pass. A better approach to this top
by Octokiddie 3y ago
The article does not support the claim made in the title. Similar claims have been made many, many times. They never come to pass. A better approach to this topic would be to acknowledge the failure of earlier prophets and explain what's actually different this time.
- myrryr 3y agoPolitical instability driving a default would be pretty different.
- frozenport 3y agoTea party tried to do that a decade ago. What’s different this time?
- myrryr 3y agoAn actual default would be different. The US doesn't have anything like the wiggle room it had last time.
- scilro 3y agoThe author failed to cite hard numbers, but they can be found elsewhere: https://markets.businessinsider.com/news/currencies/dollar-dominance-global-reserves-china-euro-russia-ukraine-war-greenback-2023-4 https://markets.businessinsider.com/news/currencies/dollar-d... "In a Monday note, strategists Joana Freire and Stephen Jen calculated that the greenback accounted for about two-thirds of total global reserves in 2003, then 55% by 2021, and 47% last year." You can make the argument that the decline of this number will be a lot slower than 2021-2022 going forward, or that it will perhaps bottom out at a relatively high number. But the trend is there.