[fhayek]

Well, I wouldn't panic just yet. But I do think that the powers that be have been smug in their taking advantage of the fact that the dollar has been the reserve currency for going on a century. This has allowed the federal government to run up a huge debt, secure in the knowledge that there will always be someone willing to buy up our debt.

Someday, that situation will end. Not today, not tomorrow. But someday. Then there will be a reckoning. It is folly to think otherwise.

[beancounter13]

I agree. There will eventually be a reckoning, and I agree that it won’t come as fast as so many think.

I personally won’t worry until China decouples the Yuan from the Dollar. Until then, the Dollar will remain China’s reserve currency.

And I don’t think China had the guts to decouple the Yuan. Their house of cards would collapse faster than ours if they did.

[curious7]

One other positive note I read elsewhere is that supposedly the currency won’t be redeemable for gold specie. Backed, yes. But not redeemable. Which is, of course, where the dollar is today supposedly, as compared to a century ago before the closet commies interfered.

[MarMema]

What happened to the pound when the British empire collapsed?

[DUMBGRUNT]

—”This has allowed the federal government to run up a huge debt, secure in the knowledge that there will always be someone willing to buy up our debt.”

Until US government printing kills the last of the “full faith and credit” in the dollar.

That said how could anyone have faith in the yuan or ruble, their numbers are mostly pretending.

But it will be backed by gold! And stablecoins are pegged to the US dollar...

A reserve currency requires basic trust developed over time.

And yes, the US treasury keeps printing away...