Why Does the World Need a Dictator’s Dollar?
Why is the world still using the U.S. dollar as the world’s reserve currency. Since America has nothing to offer Canada or Europe, maybe it’s time to drop the dollar for the Euro.
“Since President Richard Nixon abandoned the gold standard in 1971, the dollar has been backed not by precious metal, but purely by the full faith and credit of the U.S. government. Since 1971, numerous people have called for the end of the U.S. dollar as the world’s reserve currency.”
Why indeed?
Today, America’s influence is in decline, and its superpower status is dying with it. No longer acting like a democracy, why should any nation invest in a country that doesn’t even have the same basic respect for the principles that bind all other democracies together?
The BRIC’s countries have already de-dollared. Almost half of the population of the earth now no longer uses the dollar as the reserve currency.
Due to the massive U.S. debt, there is no reason to have faith in America. When combined with its actions to place sanctions and tariffs on former partners and allies, irrespective of how destabilizing it may be to America, “central banks around the world should take a more diversified approach, incorporating currencies of smaller economies such as Australia and Canada”.
It’s time to tell America where to get off, We’ve had enough of its arrogance, ignorance, threats and demands.
It’s time for investors to de-dollarize and to diversify by reducing their exposure to U.S. – centric assets and increase exposure to other developing or even emerging markets.
America is losing influence in every facet of its relations. Soon, under Trump, America will be alone, with half of America hating the other half.
No thanks America, we like who and where we are.
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