The progress towards dedollarization reduces the reliance countries have on the US, which is good for their economies but bad for the US.
That’s a good thing overall.
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That’s the entire point of dedollarization, though: options means that countries can switch to another option if one country’s currency isn’t reliable
SWIFT will have to be broken up, where one becomes a European only with the EURO as it’s trading currency.
I’d wish we could decentralise it even further, but that’s going to defeat the purpose, isn’t it?
I used to think SWIFT was just a transaction system, but we can see how economy on a global level is truly all about political power - ideals be damned.
The liberal dream truly is dead. Long live economic feudalism.
And here I distracted by how bad whatever AI made this messed up the $100 bill…
Frankly I don’t see how the USD has remained as anything resembling a stable international standard given just how focused we tend to be in immediate gratification and maintaining stock growth rather than long term investments.
I don’t think they can legally defile actual money lol
