But, in the end, no amount of international bullying from the USA is going to convince other countries to keep using the Dollar, if they decide to trade with their own currency, which takes a whole step out of the trade (Having to buy US dollars to proceed). More and more countries are joining BRICS, who now cover more than half of the world's population.
Already, Russia and China are happy to trade in Yuan and Rubles. Who needs US dollars anymore? Each country keeps a reserve of the other's currency for the purpose. Iran is joining just so they can trade with them, given their 40 year long sanctions from the USA. When whole countries keep a reserve of one's currency, there is a buffer to how much is in circulation, which controls inflation. The BRICS are also working on a commodities backed currency (Gold, Silver, Platinum and possibly some others, e.g. Lithium).
The dirty secret was that forcing the Dollar into international trade was propping up the US Feds, and mitigating US inflation. (Remember the pallets of cash that were dumped in Iraq?). Once the world wakes up and reclaims sovereignty, the Feds will be in biiig trouble, because there will be an extreme oversupply of dollars that 'no-one wants'. This means uncontrollable hyper-inflation for USA citizens.
One would literally have to reduce the number of dollars in circulation. Fine if one is called Abe Lincoln, and is dealing with paper dollars (maybe - taking away dollars from the people got him killed IMO). The problem is that these days, dollars are printed in the digital ether. How does one limit that? Some small-time banker types a few zeros on a computer for a so-called 'loan', and hey presto - more dollars in circulation. Every mortgage, but also every Quantitative Easing, indeed everry great spending package from the government, just adds to the problem, because the whole thing is ephemeral. How does one walk that back?
But, in the end, no amount of international bullying from the USA is going to convince other countries to keep using the Dollar, if they decide to trade with their own currency, which takes a whole step out of the trade (Having to buy US dollars to proceed). More and more countries are joining BRICS, who now cover more than half of the world's population.
Already, Russia and China are happy to trade in Yuan and Rubles. Who needs US dollars anymore? Each country keeps a reserve of the other's currency for the purpose. Iran is joining just so they can trade with them, given their 40 year long sanctions from the USA. When whole countries keep a reserve of one's currency, there is a buffer to how much is in circulation, which controls inflation. The BRICS are also working on a commodities backed currency (Gold, Silver, Platinum and possibly some others, e.g. Lithium).
The dirty secret was that forcing the Dollar into international trade was propping up the US Feds, and mitigating US inflation. (Remember the pallets of cash that were dumped in Iraq?). Once the world wakes up and reclaims sovereignty, the Feds will be in biiig trouble, because there will be an extreme oversupply of dollars that 'no-one wants'. This means uncontrollable hyper-inflation for USA citizens.
One would literally have to reduce the number of dollars in circulation. Fine if one is called Abe Lincoln, and is dealing with paper dollars (maybe - taking away dollars from the people got him killed IMO). The problem is that these days, dollars are printed in the digital ether. How does one limit that? Some small-time banker types a few zeros on a computer for a so-called 'loan', and hey presto - more dollars in circulation. Every mortgage, but also every Quantitative Easing, indeed everry great spending package from the government, just adds to the problem, because the whole thing is ephemeral. How does one walk that back?