Quote:
Originally Posted by sergei_makarov
We can already see the shift happening when two of the bigger economies in Russia and China agreed to no longer use the USD in trade.
I think currently, there is no currency that can replace the Dollar... the Euro has its own issues and the Europeans are making the same mistakes that the US made by propping up internal companies that failed which weakens the value of the Euro internally driving Europe further and further into debt... and the Chinese RMB isn't near ready yet considering it's a blocked currency and will need time to transition and be ready on the international stage.
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Yeah, and I don't see the gold standard being particularly practical either. But if/when the US loses the priveledge to just print more money without backing it with some form of collateral....things are going to get a lot worse. It's bad enough that the Federal government has the issues they have, but state and municipal governments are even worse off.