4 ms·

I'm pretty sure that the damage is done. It will take a few years, maybe even a decade, but the USD will no longer be the defacto reserve currency.

cft 2y ago
there's no reason for the USD to be the reserve currency, being the currency of a country that doesn't produce anything anymore
- dlkmp 2y ago
  But does provide services the entire world depends on.
  - cft 2y ago
    there's no reason that one government should control that currency.
    - evrydayhustling 2y ago
      Trust was its own reason. It's useful for the whole world to have a currency and business environment that operates by rules, even when the rules aren't perfect or fair. That environment isn't being outcompeted by better, more fair rules - it's just getting vandalized for a few people's gain, and creating risk for everyone else .
    - EasyMark 2y ago
      there's what you think, and then there is reality.
  - exe34 2y ago
    it's the other way round, the military maintains the world order, the currency is used as reserve, and they get to provide services that nobody else can provide while they're top dog. they are not on a trajectory to remain top dog for very long.
lazide 2y ago
I remember when everyone said the Euro was the new reserve currency - even a Bond film used it as a plot point. Came to nothing.
- 2muchcoffeeman 2y ago
  But things can change no? Like the country whose currency we use becoming untrustworthy. Do you think the world watched the first trump presidency and thought to do nothing?
- radicalbyte 2y ago
  It was US policy to actively work against that and it was an acceptable deal for us given that we've been friends and allies forever. Now Trump has turned the US into our heroin-addict sibling we can no longer rely on them.
  - lazide 2y ago
    So they’re going to…. Be nicer now? Less crazy?
- EasyMark 2y ago
  But at that point in time the USA wasn't run by a clown show of grifting circus performers.

cft 2y ago

there's no reason for the USD to be the reserve currency, being the currency of a country that doesn't produce anything anymore

dlkmp 2y ago
But does provide services the entire world depends on.
- cft 2y ago
  there's no reason that one government should control that currency.
  - evrydayhustling 2y ago
    Trust was its own reason. It's useful for the whole world to have a currency and business environment that operates by rules, even when the rules aren't perfect or fair. That environment isn't being outcompeted by better, more fair rules - it's just getting vandalized for a few people's gain, and creating risk for everyone else .
  - EasyMark 2y ago
    there's what you think, and then there is reality.
- exe34 2y ago
  it's the other way round, the military maintains the world order, the currency is used as reserve, and they get to provide services that nobody else can provide while they're top dog. they are not on a trajectory to remain top dog for very long.

lazide 2y ago

I remember when everyone said the Euro was the new reserve currency - even a Bond film used it as a plot point. Came to nothing.

2muchcoffeeman 2y ago
But things can change no? Like the country whose currency we use becoming untrustworthy. Do you think the world watched the first trump presidency and thought to do nothing?
radicalbyte 2y ago
It was US policy to actively work against that and it was an acceptable deal for us given that we've been friends and allies forever. Now Trump has turned the US into our heroin-addict sibling we can no longer rely on them.
- lazide 2y ago
  So they’re going to…. Be nicer now? Less crazy?
EasyMark 2y ago
But at that point in time the USA wasn't run by a clown show of grifting circus performers.