Is the Dollar the Global Reserve Currency Because There's No Better Alternative?odysee.com/@mises:1/is-the-dollar-the-global-reserve:4?r=8T2xqWjtafHWYGxQBSsrbw1wQPm7sWRq
71 sats \ 7 comments \ @Undisciplined 7 Jun econ
From The Human Action Podcast

Video Description

Economics researcher Joakim Book joins Bob to discuss his recent article on the dollar's international dominance at the American Institute for Economic Research.
US Sanctions incentivize foreign governments to find alternatives to the dollar, but none have successfully escaped Washington's grip. Joakim argues that alternative payment systems are in the works, but even international banking transactions still use US banking systems. How much longer will the US dollar be the king currency? Why aren't foreign Governments fleeing to BTC and Gold? Bob and Joakim discuss.
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21 sats \ 6 replies \ @Satosora 12 Jun
I guess it isnt just the USD that is important. It is the government and the banking system that is behind it.
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20 sats \ 5 replies \ @Undisciplined OP 12 Jun
True. It’s really that stuff that backs the dollar, more than the way it’s managed.
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21 sats \ 4 replies \ @Satosora 12 Jun
Yes, the swift money system. I wonder what they will do with the brics? China or russia or idias system?
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20 sats \ 3 replies \ @Undisciplined OP 12 Jun
I don’t know, but I’m expecting it to be a huge mess.
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21 sats \ 2 replies \ @Satosora 12 Jun
I dont know if they have a monetary system to back up all the transactions... Will be interesting to see in the near future.
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20 sats \ 1 reply \ @Undisciplined OP 12 Jun
They don’t, and they can’t agree on what kind of system to adopt or how to share control over it.
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21 sats \ 0 replies \ @Satosora 12 Jun
The sharing control will be the major part. China has 40% of it, but I think they will need to all put in more if they want it to be the international money.
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