Re:Era of U.S. dollar may be winding down
by pedalpete on Saturday May 10, 2025 @06:43PM
(#43949623)
I think you're conflating the idea that a reserve currency needs to be the same currency that a person interacts with on a daily basis.
Commercial trade and government debt operate a such large quantities, that they are essentially a market unto themselves.
This is essentially how gold worked wrt the gold standard, except that with gold, a large find in one country increases the wealth of that country, or makes it subject to war, as other countries want to capture that value for themselves.
Commercial trade and government debt operate a such large quantities, that they are essentially a market unto themselves.
This is essentially how gold worked wrt the gold standard, except that with gold, a large find in one country increases the wealth of that country, or makes it subject to war, as other countries want to capture that value for themselves.