Re:The Great Steepening
by throw8383833jj on Friday March 25, 2022 @11:06AM
(#30803042)
when the US losses global reserve currency status, it won't be the end of the world. Just look at all the past empires who had that status: Great britain, the netherlands, etc. they're all still around and still have 1st world living standards. there will be a slight drop in living standards, as imports go up in prices. you won't be able to buy as many PS2 and flat screen tvs, cars, blenders, etc. but i've got way more then enough of those already.
I'm certainly not Nostradamus. Lots of people see it coming.
It's a huge benefit to being the reserve currency and when the USD loses it or really what's likely to happen... become far less important. The American people will be hurting quite a lot.
The big question, will the Yuan become much larger? They sure won't be if they keep spreading their efforts. Crypto might be something but would be hard.
We shall see what happens.
I have considered something, what if the USA knows this is coming and they made it appear like the USA is about to collapse. To have their enemies bet against them but then flip the book and they overextended. Sure does look like Russia right now overextended by a lot.