Calls to Move Away from the US Dollar are Growing

[mariobros]

Calls to Move Away from the US Dollar are Growing, article from CNBC that should get everyone's attention. This would be a fatal blow to the USA. Anyone worried?

Read article at CNBC

[lloyd80]

This is imminent. There are a few reasons why there have been calls to move away from the US dollar:

Dependency: Many countries around the world rely heavily on the US dollar as a reserve currency. This can make them vulnerable to fluctuations in the value of the dollar, as well as to changes in US monetary policy. Some countries may feel that they are too dependent on the US dollar and would like to diversify their reserves.

Global economic shifts: As the global economy continues to shift and evolve, some countries may feel that it is time to move away from the dominance of the US dollar and embrace alternative currencies. For example, China has been promoting the use of its own currency, the yuan, as a global reserve currency.

Geopolitical tensions: The US dollar's status as the world's dominant reserve currency has given the United States significant power and influence on the global stage. This can create tensions between the US and other countries, particularly those that are seeking greater independence and autonomy. Moving away from the US dollar could be seen as a way for these countries to assert their own sovereignty.

Overall, while the US dollar is likely to remain an important global currency for the foreseeable future, there are various factors that may drive some countries to seek alternatives. We are giving them plenty of reasons so it shouldn't be a surprise.

[lloyd80]

As a continuation to this dismal topic, there are several alternatives to the US dollar, including:

Euro (EUR): The euro is the official currency of the European Union and is used by 19 of the 27 member states. It is the second most traded currency in the world after the US dollar.

Japanese yen (JPY): The Japanese yen is the official currency of Japan and is often used as a safe-haven currency due to the country's stable economy and low inflation.

British pound sterling (GBP): The pound sterling is the official currency of the United Kingdom and is the fourth most traded currency in the world.

Swiss franc (CHF): The Swiss franc is the official currency of Switzerland and is often used as a safe-haven currency due to the country's stable economy and political neutrality.

Gold: Gold has historically been used as a store of value and a medium of exchange, and some investors see it as an alternative to fiat currencies like the US dollar.

Cryptocurrencies: Digital currencies like Bitcoin, Ethereum, and others have emerged as an alternative to traditional currencies, and are increasingly being used for online transactions and as a store of value.

It's worth noting that the value of any currency or asset can be volatile, and the choice of currency or asset will depend on individual circumstances and preferences. I actually think an entirely new currency will emerge.