New Global Monetary System?

How long will the $U.S Dollar keep its Reserve Status?

  • Less than 10 years

    Votes: 1 20.0%
  • 10 – 14 years

    Votes: 0 0.0%
  • 15 – 20 years

    Votes: 1 20.0%
  • Greater than 20 years

    Votes: 3 60.0%

  • Total voters
    5

new_trader

Legendary member
6,476 1,397
Will the $U.S Dollar lose its reserve status as a result of the COVID-19 crisis? What will replace it?
 

MasterOfCoin

Well-known member
395 144
Will the $U.S Dollar lose its reserve status as a result of the COVID-19 crisis? What will replace it?
I wouldn't care to speculate on the first question.
Other than to muse that the U.S. would probably embark on WW3 before giving up that currency status......

What should replace it is a decentralized cryptocurrency that no single state entity or actor could stand any chance of controlling, but there's bugger all chance of the central banks giving up their monopoly on power, that's certain.

Which means that what we'll see touted about is some kind of centrally controlled digital currency that would allow Governments to ditch horribly anonymous cash in favour of lovely 100% traceable transactions.

Money, or rather the ability to create it and control where and how it is used, is power.

Those who have power will use it to keep power. History tells us that they are not usually inclined to relinquish it without a fight. War, death, famine and disease through poverty are the inevitable consequences.


PS.

The average lifespan of a 'fake' ie. fiat currency is circa 40 years or so.
By this measure, present currency is overdue demise.

But the longevity varies considerably, from a few months to several hundred years.

They have, however all ultimately failed through spiraling debt-flation bringing about their demise.

Does that begin to sound familiar?......
 
Last edited:

Nowler

Experienced member
1,227 127
The US days are numbered.
Out with the old and in with the new I say!

They are bogged in debt with no way of offloading it - apart from defaulting, which would crucify them.
 

MasterOfCoin

Well-known member
395 144
They are bogged in debt with no way of offloading it - apart from defaulting, which would crucify them.
There is the minor consideration that they have rather a lot of aircraft carriers drifting around the place dedicated to offloading it onto 'willing' 'supporters' of 'freedom' and 'democracy' !

:devilish:
 

new_trader

Legendary member
6,476 1,397
There is the minor consideration that they have rather a lot of aircraft carriers drifting around the place dedicated to offloading it onto 'willing' 'supporters' of 'freedom' and 'democracy' !

:devilish:
"Generals are always prepared to fight the last war"

IMO: Drones and hypersonic missiles will make Aircraft carriers obsolete, just like the battleship. They are just a huge, expensive target.
 

Nowler

Experienced member
1,227 127
Will the $U.S Dollar lose its reserve status as a result of the COVID-19 crisis? What will replace it?
I'd like to see this question discussed more.
It's a very interesting question, and something that profoundly impacts each and everyone of us.

It's not unreasonable to say that the threat of hyperinflation hangs over our heads.
Nor is it outlandish to say that the end of the FIAT is near.

I think the last 12 years has shown that were are likely near the end of the system as we know it.

What are the likely alternatives?
And how might this unfold?
 
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