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It’s easy to prove that half is wrong as well because all the US’ (past) global friends are screaming at the US trying to save them from driving off the cliff.
by lucasyvas 2y ago
It’s easy to prove that half is wrong as well because all the US’ (past) global friends are screaming at the US trying to save them from driving off the cliff. It’s one thing for the US to want to remake itself - gradual, cooperative plans to reduce engagement on the world stage over multiple years would have been something manageable.
Pulling the cord with such little respect will not be forgotten. The USD will be lucky to still be the reserve currency in 5-10 years time. The rest of the world is likely to sanction the US at this rate. It is violating all of its agreements in bad faith.
- blibble 2y ago> The USD will be lucky to still be the reserve currency in 5-10 years time. if the US regime carries on at the rate it has over the last month I expect it will be gone considerably faster than this
- lucasyvas 2y agoPractically speaking I think it requires a lot of will, momentum, and process to change this. The decision even if made soon would probably take a few years to complete. Supplementing it may be faster (eg. adding Euro and/or Yuan) than outright replacing it, but it’s not my area of expertise. The timeframe was based on some light research.
- blibble 2y agosomething to remember is that a good chunk of the "dollar" reserve is in reality eurodollars the backing of which could be switched very quickly indeed
- disgruntledphd2 2y agoThis stuff moves slowly, until it doesn't. I'd honestly say at least ten years for large changes.
- rchaud 2y agoAnd this will inflate away the debts tokenized in CCP-held US Treasuries. 4D chess! Russia did something similar in 1998 that sank the US hedge fund Long Term Capital Management.