The Death of the Dollar? People Have Predicted It for 60 Years, Yet the Dollar Only Gains More Market Share
Posted by x___rain
The Death of the Dollar? People Have Predicted It for 60 Years, Yet the Dollar Only Gains More Market Share
Posted by x___rain
5 Comments
Well what am I supposed to do throw checks at the stripper
What does the author mean by ‘market share’?
I assumed they were referring to reserve currency status but the dollar hasn’t really continued to gain ‘market share’ in that sense over the last 60 years if you’re looking at it as a proportion of all currencies held in reserves. It’s been pretty stable for the last few decades IIRC, maybe a slight decline
The whole point of Bitcoin was supposed to be that “the Fed is debasing the currency so hyperinflation is imminent”, and even though we had a bad bout of inflation, hyperinflation still hasn’t happened, so I don’t know exactly what they’re waiting for now.
The only realistic alternatives to the US Dollar are the Euro and the Yuan. The Euro is not positioned to be the global reserve until the EU becomes federalized, and China wants to keep the Yuan devalued to make their exports attractive. So, the USD will keep ruling.
It’s a bit how US hegemony has kept chugging along since 2016 because there’s basically no viable alternative at the moment. That’ll probably change in the long term, and the US can’t rely forever on everyone else’s being a worse option. But for now, we’re just gonna keep coasting.
To paraphrase Churchill, it’s the worst reserve currency in the world, excepting all the others.