All this tells me is that you haven’t understood anything I’ve written here. Neither is this about which currency I use to buy groceries or which one you use to buy gas. This is about how international transactions between different countries and different national currencies are settled.
I never said currency will be replaced with some undefined non-monetary thing. I said that one currency (USD) will be replaced with many on the international stage. In fact it’s already happening.
There is, believe it or not, a vast array of possibility between a single hegemonic currency linked to a single global hegemon and no currency at all. How do you think international trade worked for a couple centuries before the US organized its dollar to be the world reserve currency?
I agree that dedollarization will change our economic and political paradigms. I agree that a lot of the ways in which we think about these things today will be irrelevant in the dedollarized future.
If you’re interested in how we got to where we are today, I recommend Michael Hudson’s work.
Of course countries wanna use their own currency of course they look for any opportunities to do so. But this game isn’t going to change. It’s literally been said for decades since the 80s and here we are almost 50 years later still saying the same thing.
The day the dollar dies, many countries most of whom are on top now will die with it or be crippled so much so they will be surpassed by younger growing economies with less to lose. It’s just not happening any other way.
All this tells me is that you haven’t understood anything I’ve written here. Neither is this about which currency I use to buy groceries or which one you use to buy gas. This is about how international transactions between different countries and different national currencies are settled.
I never said currency will be replaced with some undefined non-monetary thing. I said that one currency (USD) will be replaced with many on the international stage. In fact it’s already happening.
There is, believe it or not, a vast array of possibility between a single hegemonic currency linked to a single global hegemon and no currency at all. How do you think international trade worked for a couple centuries before the US organized its dollar to be the world reserve currency?
I agree that dedollarization will change our economic and political paradigms. I agree that a lot of the ways in which we think about these things today will be irrelevant in the dedollarized future.
If you’re interested in how we got to where we are today, I recommend Michael Hudson’s work.
You took a lot to say basically nothing.
Of course countries wanna use their own currency of course they look for any opportunities to do so. But this game isn’t going to change. It’s literally been said for decades since the 80s and here we are almost 50 years later still saying the same thing.
The day the dollar dies, many countries most of whom are on top now will die with it or be crippled so much so they will be surpassed by younger growing economies with less to lose. It’s just not happening any other way.