Posted by DigiNomad on 8th of May 2023 at 06:44 pm
Easy answer - If I'm a BRIC nation, with the exception of maybe
India (although they are generally Putin fans), I wouldn't want to
hold reserves in USD after the USA weaponized their monetary
system. In retrospect, 20 years from now, their will be an
easily identifiable cause and effect relationship. And then, maybe,
Americans will realize what they have lost by sacrificing reserve
currency status (or they will somehow blame higher interest rates
and the inability to conduct monetary policy in the way we've been
so lucky to have on the rich...the standard scapegoat vs the
truth).
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Easy answer - If I'm
Lol - Yellen "The dollar is the ultimate safe asset..."Umm, ...
Posted by DigiNomad on 8th of May 2023 at 06:44 pm
Easy answer - If I'm a BRIC nation, with the exception of maybe India (although they are generally Putin fans), I wouldn't want to hold reserves in USD after the USA weaponized their monetary system. In retrospect, 20 years from now, their will be an easily identifiable cause and effect relationship. And then, maybe, Americans will realize what they have lost by sacrificing reserve currency status (or they will somehow blame higher interest rates and the inability to conduct monetary policy in the way we've been so lucky to have on the rich...the standard scapegoat vs the truth).