‘Black Swan’ author Nassim Taleb is really afraid of de-dollarization | Fortune
So the argument goes that following the confiscation Russia’s usd denominated assets, the trust in usd as the reserve currency has eroded because the currency can be seen as being used in geopolitical ■■■ for tat. Thoughts?
Tanks
For sure, the confiscation of russian assets and using the international payment systems as a weapon through sanctions is one of the most shortsighted things I have witnessed in world politics.
There’s been talk of a BRICS currency for a while, so this isn’t that new.
Having your currency as the global reserve currency, which the USD has been since Bretton Woods, is a double-edged sword.
All the more so since Nixon closed the gold window and Kissinger brought us the PetroDollar.
We are still the cleanest shirt in a pile of dirty laundry.
and my goodness do we dirty up the pile.
cant really blame the world to shift away after we printed and spent money.
debt to gdp 20 years ago was 70% ish. today it’s 130%.
anyways i think when you have an advantage, you should abuse it until they break.
with that said, i just dont think we should waste it on ss/medicare.
We are still the cleanest shirt in a pile of dirty laundry.
and my goodness do we dirty up the pile.
cant really blame the world to shift away after we printed and spent money.
debt to gdp 20 years ago was 70% ish. today it’s 130%.
anyways i think when you have an advantage, you should abuse it until they break.
with that said, i just dont think we should waste it on ss/medicare.
Crazy numbers. We are levered to our eyeballs.
Medicare spending in ´Murica is a funny thing. The US spends 2x more per capita in medicare than other western countries and on average the quality of care is lower.