you don't have 10 years.
Quanitative easing is at an all time high. (Libs, if you dont know what that is, ask a conservative friend) The M1 money supply curve looks like the face of El Capitan. We are spending and spending. (Yes, Trump spent too....I get it...he should have vetoed every budget.)
I think we have at most 10 years......AT THE CURRENT PACE.
We can change things...but we likely will not.
My guess is the Fed is trying to devalue the dollar to make our debt worthless. If the dollar has no value...our 30 trillion dollar debt has no value to our lenders.
I don't think you have 10 years.
China will overcome the US as the biggest World economy in 5-7 years, I think by that time Dollar will not be the World trade currency... It is going to introduce digital Yuan soon, as well the US ran out of options trying to subdue Russia, the only 2 options left - military conflict, which will destroy World finances and Dollar in the course, or exlusion of Russia from World finances, which will effecfively establish Rouble-nominated oil trade and destroy Petrodollar again...
I think 5 years at most, if you are extremely lucky.
More likely a couple of years...
I think by that time Dollar will not be the World trade currency... It is going to introduce digital Yuan soon
But who wants to hold the Yuan or the Ruble or the Peso as their reserve currency?
as well the US ran out of options trying to subdue Russia
Why do we need to subdue them, they do that to themselves just fine.
establish Rouble-nominated oil trade
No one who has a choice wants to hold their crappy currency.
after trillions of Dollars a year printed by the Fed (and ECB, and BoE, and BoJ) there will be no credible currency soon. It is what makes situation even more disastrouse. Gold will be thd king and Russia has one if the biggest gold reserves in the World. If it ties Rouble to gold - it sill be the best currency, after Zwiss Franc.
after trillions of Dollars a year printed by the Fed (and ECB, and BoE, and BoJ) there will be no credible currency soon.
So the Yuan won't be credible, because their QE was bigger than ours?
Gold will be thd king and Russia has one if the biggest gold reserves in the World. If it ties Rouble to gold - it sill be the best currency, after Zwiss Franc.
No one is going to trust a ruble, even if they pretend it is backed by gold.
neither Yuan or Rouble will be credible enough to play the role Dollar plays now, most probably there will be several/many currency zones ( including Rouble zone) , but Dollar zone will shrink not even to North America, it will be hardly used in proper USA since the US will disintegrate into 2-3 states.
it's in 10-20 years, while in 5-10 years even if Yuan takes 40% it means catastropphe for the US, hyperinflation.
but, as for Yuan and Rouble - in post-collapse World strength of currency will be defined by 2 factors - gold backing and positive trade balance.
both Yuan and Rouble have it, Dollar has only gold, which will start flowing to countries which the US has trade deficite with.
so, don't look at current situation, US is a dead on arrival, fundamentally sick and moving only by inertia...
while in 5-10 years even if Yuan takes 40%
Takes 40% of what? World reserve balances? LOL!
World strength of currency will be defined by 2 factors - gold backing and positive trade balance.
No one is going to back their currency with gold.
lol, indeed, after WWII the US share in World GDP was >50%, now about 20%.
US has giant budget deficite, over 50%
US has trade deficite, current account deficite..
US has the biggest covid infection and mortality in the World
Chine is already the biggest World economy if measured in purchasing power. By 2028 conservative estimates say it will overcome the US in nominal figures, in dollars.
what surprises you in a statement that Yuan will folow general Chinese supremacy and overtakes Dollar?
the only thing you are good in NOW is printing money. I don't say it to put Russia above the US, while in some aspect it really is (in some not), but just to remind you that you refer to past stereotypes, the World has changed.
and what else except golden standard can return trust to a currency in situation of hyperinflation?
be my guest, propose something...