I am confused by the article's insistence that the Euro is not a viable alternative because it's "one currency, 20 countries". If anything, the sheer number of countries make sure that a single election is not going to affect financial and economic policies all that much - which is the main reason for the USD's fall from grace right now.
this post was submitted on 17 Apr 2025
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Right, seems like a positive point not a negative one?
I don't understand why the euro isn't considered the best potential replacement for the dollar
The world does not trade in US dollars, thats a myth. If a Japanese company buys something in Australia, they convert from yen to AUD, they don't go through the USD. Thats not what "reserve currency" means.
There used to be a thing called the Gold Standard. The amount of gold you had in reserve was linked to the amount of money you could print. The gold standard failed because it was too restrictive.
After WW2, the US proposed that instead of a lump of metal, money creation would be tied to the national economy. The US economy would be the "gold reserve" of the world and all the other currencies woudl be compared to it. The goal was to reduce the amount of foreigners using USD, as this was causing American notes to leak overseas and made inflation difficult to determine.
The Euro is used over a range of economies that are only loosely tied together. Although crude monetary policy like interest rates are common, tax collection is up to individual countries, so the Euro is not a stable value as there are too many variables.
Yes.
I expected this exact comment reading the headline, nice :D
Uh.. duh?
It's also worth keeping in mind that if the USD/CNY exchange rate fell in line with the two countries' PPP, China would be biggest economy in the world by a margin of nearly 30%.
Almighty? I still can't figure out why some places don't take 50's and 100's at this point. 100's might be a bit more than a 10 from my youth but they don't quite equate to a 20 and places would take 20's back then.
Maybe because they’re kinda raw-dogeing it?
Nah man, it's just that a bunch of us decided that these sea shells are more valuable.
They don't know about the three seashells!
I just like wampum.
Is the world losing faith in the almighty US ~~dollar~~?
Big pal Putin didn't hesitate to use gas and oil as a weapon. Trump tries to do the same with trade and the dollar. Run away fast is the only answer.
Happy cake day
So how are Americans supposed to protect their savings and investments?
That's the neat part, you don't.
Welcome to the third world guys.
Well, you will have lots of toilet paper for the next pandemic.
that would not be so hard if it was not coupled with a scenario where people need to protect them and also draw down on them. Thats where it really gets tough.
Trump coin /s
Trump is sabotaging the US on purpose, for the benefit of his handlers.
Yes
The dollar? I think the world lost faith in all that is in any way connected to America.
Which makes me sit back in my seat and go:
"What is the endgame?"
Our future, if unchanged is a reversion to right around industrialization, but without any industry.
So we're all to be imprisoned in the machine of capitalism, feet chained and bound into making wooden bowls and clothes we used to get cheaply but no longer can?
But then, how do the elite profit from a country with no profit? Do they just sit on the hill and own it? Their world sounds depressing and devoid of any sort of enjoyment. Trump wants to be King Shit, on a hill of ashes.
The sweatshop of America cometh.
Poor people will join the military.... With that the military will continue to conquer the world. From there Idk...
I think for the future... Extreme idealism is going to rule... The religious nationalism we are seeing now, and if you don't fit there vision.... I think we already are starting to see what happens
Go get 'em world!
So europeans can soon get GPUs for a more reasonable price?