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> 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 wil
by 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.