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“The Dollar is Dead. Long live whatever comes next.” So what will come next? It can’t be gold because we already tried that. I don’t see the West letting BRICS
by bix6 1y ago
“The Dollar is Dead. Long live whatever comes next.”
So what will come next? It can’t be gold because we already tried that. I don’t see the West letting BRICS have it. Crypto seems too polarizing.
- declan_roberts 1y agoWhat comes next is USA 2.0.
- herval 1y agoWhy does it have to be a single currency? The single-currency reserve is an artifact from the era where settlements required actual wads of cash shipped around. It’s also from an era where most other countries’ currencies were in flux and the dollar was the only non-risky option. This hasn’t been an issue for a few decades now, with euro, yen, pound, franc, etc proving they’re quite stable With systems like Brazil’s Pix in place (which is supposedly gonna operate across latam countries soon), you can easily settle cross-bank instantly. Countries will then be able to build spot reserves on whatever currencies they need for trade directly, instead of an intermediate “stable” currency
- mensetmanusman 1y agoHopefully a basket of currencies, no need for one thing.
- sparrish 1y agoWhy can't it be gold again? It was working pretty well for thousands of years.
- cjs_ac 1y agoThe part where countries engage in warlike activities against each other to get their hands on more gold sounds like it would cause economic uncertainty.
- sparrish 1y agoWe moved off the gold standard in 1933 (domestic) and internationally in 1971 and there haven't been any warlike activities since then, right?
- originalvichy 1y agoIt did not scale.