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indeedz, indeedz. The switching process from a local, stable equilibrium to coordinate on the next thing is, um, pretty unprecedented!
You’re the money. How does this normally happen?
Each iteration of the dollar has basically pretended to be the same thing as the previous iteration and the dollar was initially pretending to be gold.
Will the next thing be pretending to be dollars?
good question... and "normally" is a little bit of a stretch... we've had, what, four large monetary shifts in the last 500 years. I'm not sure we know what normal counts for yet
Jeez, such a cop out.
I want answers writer guy.
yahz, yahz
We’ve only had three or four of these global monetary transitions, so it’s hard to assess Dalio’s claim that this is a universal pattern. And if so, what does it say about the renminbi? About currencies like bitcoin, which are unconnected to a nation state?
https://thedailyeconomy.org/article/the-long-cycles-in-markets-and-political-order/
You may not have studied mBridge and the large number of BRICS nations who already have operational CBDCs or are about to have one operational within the near future.
Trump threatened BRICS members with overwhelming sanctions if they dare implement their alternative to SWIFT/USD hegemony.
Trumps threats are looking less and less credible and more and more like a joke. Global trade is dominated by China and mBridge enabling swift, cheap and reliable cross border payments renders the USD hegemony obsolete.
There’s another important question: What replaces the dollar?
I think the expectation of dollar collapse is rising, but there’s no consensus at all on what to substitute with. That’s going to prolong the process, because the rest of the world also needs to figure out what everyone else is going to ditch the dollar for (it’s not gonna be their lame homegrown fiat).