This was very well done- a great summary of where we are and where the threats against the dollar being used as the de facto global currency. I haven't exactly worked this out yet--but in the short-term the consequences for the U.S. economy will be terrible. However, in the long-term no longer being the global currency will have benefits to the U.S population. The global currency status helps our international corporations and multinational elites, but it's not clear how much it helps middle class and lower class Americans.
Global currency allows us to benefit from outsourcing to other countries who will accept dollars without asking fees on converting dollars to a local currency. This helps us pay even less on products and services that get outsourced, which short term helps middle class, long term kills middle class jobs like advanced manufacturing and skilled factory jobs. With Argentina potentially switching to the dollar, if it goes through, dollar is going to get even stronger
uh so now that the eighth largest economy in the world is going to be adopting the dollar as it's main currency and give up the peso, the dollar is probably not collapsing soon
This was very well done- a great summary of where we are and where the threats against the dollar being used as the de facto global currency. I haven't exactly worked this out yet--but in the short-term the consequences for the U.S. economy will be terrible. However, in the long-term no longer being the global currency will have benefits to the U.S population. The global currency status helps our international corporations and multinational elites, but it's not clear how much it helps middle class and lower class Americans.
Global currency allows us to benefit from outsourcing to other countries who will accept dollars without asking fees on converting dollars to a local currency. This helps us pay even less on products and services that get outsourced, which short term helps middle class, long term kills middle class jobs like advanced manufacturing and skilled factory jobs. With Argentina potentially switching to the dollar, if it goes through, dollar is going to get even stronger
Thanks for the article. I agree that a global financial shift is happening.
Ron Writer
Great insights especially GBP reserve currency findings, and ex-dividend date fraud.
uh so now that the eighth largest economy in the world is going to be adopting the dollar as it's main currency and give up the peso, the dollar is probably not collapsing soon