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How China Can Cause The Death Of The Dollar And The Entire U.S. Financial System
• theeconomiccollapseblog.com What you are about to read is understood by only a very small fraction of all Americans. Right now, the U.S. dollar is the de facto reserve currency of the planet. Most global trade is conducted in U.S. dollars, and almost all oil is sold for U.S. dollars. More than 60 percent of all global foreign exchange reserves are held in U.S. dollars, and far more U.S. dollars are actually used outside of the United States than inside of it. As will be described below, this has given the United States some tremendous economic advantages, and most Americans have no idea how much their current standard of living depends on the dollar remaining the reserve currency of the world.
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2 Comments in Response to How China Can Cause The Death Of The Dollar And The Entire U.S. Financial System
In addition to my previous comment, consider that all the fiat currency in the world (including ledger amounts that exist as ledger entries only) is worthless on the face of it all. Why? Because the ledger numbers are so large compared to what anyone does with currency, that the head of the $ serpent has already been chopped off by the banking systems and governments of the world. The only reason why the $ serpent wriggles on is because the people haven't realized it yet. When they do, there will be massed world inflation.
The ONLY thing that MIGHT POSSIBLY keep massed world inflation from happening is that folks just might step into using Bitcoin and others like her, and simply let the world currencies die.
Yes, except that China might do it without the intervention of the Chinese Government. How? Look at how they are bringing the price of Bitcoin up. And it is the Chinese people doing it, not the Chinese government.