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Message started by pg on 12/02/19 at 14:25:22

Title: Reserve currency....
Post by pg on 12/02/19 at 14:25:22

How long will the dollar last as the reserve currency? More alternatives to SWIFT are now being utilized. Also, how will digital currency such as bitcoin influence transactions and settlements?

Europe:
https://en.wikipedia.org/wiki/Instrument_in_Support_of_Trade_Exchanges

Middle East / Central Asia
https://en.wikipedia.org/wiki/Asian_Clearing_Union

China / Asia
https://en.wikipedia.org/wiki/Cross-Border_Inter-Bank_Payments_System

Best regards,

Title: Re: Reserve currency....
Post by pg on 12/03/19 at 18:53:49

Wow, not takers. When the dollar loses reserve currency status the US is going to change significantly.

1. Lose 3% courtesy transaction discount on each end of foreign trades
2. Treasury bonds will not be appealing
3. Lose the ability to sanction other entities
4. Foreign policy is likely to change significantly
5. Dollar will simply loose value
6. Expedite the default of our national debt by outright default and or inflationary printing

In 10 years why would anyone want a fiat-currency?

Best regards,

Title: Re: Reserve currency....
Post by Eegore on 12/04/19 at 06:34:52

For me, there are too many discrepancies in your source material to even jump into the end of the conversation.

There's a lot of missing or simply incorrect components, I don't want to spend the time breaking them down and providing more accurate references.

Typically I agree that with the loss of US reserve currency as primary there will be changes in the economy and foreign policy.

The advantages of fiat currency are changing. It's very well known that fiat currency allows a government to limit the impacts of an economic hardship, like 2008-2009 which is considered the worst in the past 75 years.

I've always wondered why people don't actually look at the value of gold, which historically is a pretty poor investment comparatively. But the marketing and historic value keep people buying and hoarding, even though anyone can see other investments do considerably better.

I imagine Bitcoin and other digital currency will be somewhat the same.

Title: Re: Reserve currency....
Post by pg on 12/04/19 at 17:27:08

Evidently I'm the only one who finds monetary history and conjecture interesting.....

Best regards,