That's a fair point ... But 'progressive' is a relative word. Who is to say that China can't develop to a U.S. Standard in a few years? As for trust, America also has its fair share of knee jerk reactions. They are also trying to sue Apple, and actively ban/censor/monitor groups and people who don't agree with them. They even hacked the phones at the UN to further their agendas. They've got their fair share of tourure, prison camps, and do everything else the Chinese do. I just don't see one as being any better than another, so I mistrust them both equally.
Exactly !!! So what will happen ? British Sterling (The pound) was "the" reserve currency and then after WW2 the "Power-House" became the USD (Poms were broke) Like it or not the Yanks are still the Global Military Power, (Cyber and physical) a threat to the USD is a threat that will attract a response.
The Brits won ww2 but they still lost their empire, and the nazis didn't even launch a ground invasion ... It was a phyric victory at best. The point is that the U.S. Can (and probably will) beat anyone they fight, but they can still lose their reserve status regardless. I'm not saying that Chinese will inevitably replace the usd, I just don't agree with the view that they can never get there. Who knows the future, the usdcould get replaced by SDRs (the IMF), a BRICS backed currency, they could even go back into a partial gold standard. God only knows. Now the Americans aren't going to bomb the imf or the BRICS collectively or even Fort Knox.
Interesting thread. Am I wrong in thinking that US military dominance and reserve-currency status are inextricably linked? How could they fund their wars if their credit was no good (or at least not perceived to be any good)? If that's the case, then it doesn't seem to be an either/or question. If confidence in the US$ declines, or if oil starts to be widely traded for gold, (etc etc) I can imagine things spiralling out of their control - and if they can't just bomb the offending sovereign states into submission they lose their stranglehold on world affairs. No-one's accusing the US of being imperialistic (perish the very thought!) but isn't this a common downfall of empires? The cost of 'defending' the territory eventually becomes too much to bear, or the vassal states refuse to continue paying tribute... So what comes next? I assumed it would be the Yuan, but maybe not - though I don't know if any niceties regarding who's the best at being capitalist* will be the deciding factor. There's a lot of big geopolitical stuff at play. *[but: Trump, obviously!]
The USD is the Reserve Currency...if the Reserve Currency is challenged you can bet we are all in the shite. Some think it's a joke, some here think that it's cool to talk of nukes but TPTB have the power to change our world quickly. Shite like terrorism which hits the news everyday is an everyday joke...the brits had it for yonks and...as we know the world has had terror for ever...it's nothing new. The storm we have is the big picture !!! It's not the shitty little wars or so called darling refugee mix of ecnomic and A holes who invade countries under the pretex of persecution. What we have is a global explosion of power...A New West vs the East but this time we have the Russians so far up the Chinese backside that Putin's second name is Cadbury. If the UK pulls out of the EU in June, you can bet your balls Germany will be best mates with the US and you will see massive build up of Arms on the Russian frontier / border, the China sea will be full of Nuke Subs. The UK Bosses already know what is going to happen; President Obama is already threatening! I said, many, many, months ago...that once the pricks got into Turkey it's all over!!! Deep shite guys, keep stacking.
the USD was not challenged, but by passed when Iran accepted gold for their oil, indirectly though some arrangement... USD was not used in the trade of oil for gold., I still could not figured this out that according to some imam this way of trade was haram. The multi-polar world was already here. the past act, when Iraq sold oil for Euro, their gold got stolen, this is similar to the way Japan steal gold during ww2 in SEAsia Lybian gold was stolen too. but when another Nuclear power get involved, then military option is the death end. when Russia sold gas to China, no dollars was traded in the market, just exchange of their reserves. the US cannot cut off Russia from getting USD from China, they do not control this access, when a nuclear trillions dollars are in the hand of your adversary your chickens got to come home to roost . BRICS is failing, left the party is done through colorful revolution of Brazil. now in the talk were Russia India and China. US fleet left the middle east long ago, so the middle kingdoms have been left alone to flourished, oops thought Saudi dessert has crispy those friendly house with Wahhabi still underneath. were are back to the 3 occupations romance, police prostitute priest without the agreements, your country can no longer enjoy the benefit of a reserve currency status, seller won't take it as good payment. seller just have too much of your stinking dollars :lol: they will accept your gold. this was played out in TPP which tried to exclude China, it could never work. it was a failed attempt on BRICS, they moved on from there... there are other important players at the same time as well, since they loves gold.
I've been quietly invisible like Claude Rains, here he is as Captain Renault. Sauce: roulette gravy https://www.youtube.com/watch?v=SjbPi00k_ME
http://www.zerohedge.com/print/529639 Is This The End Of The U.S Dollar? Geopolitical Moves "Obliterate U.S Petrodollar Hegemony"
More related to Saudi panic over calls to release the 28 pages of evidence rumoured to directly link high level Saudi government officials to the 911 attack. They may not contain evidence of course, but the Saudis don't know that and they are trying everything to pressure the US to limit the release. The real question is; why now? Why is the US only now threatening to release this evidence? There is a big game of geopolitics going on here and potentially some major power shifts in the Middle East. Saudi Arabia and Israel are being defriended and potentially Iran may be America's upcoming BFF. It is very likely related to oil. These countries would do well to remember that Henry Kissinger quote: "America has no permanent friends or enemies, only interests."
Renminbi Internationalization And China's Gold Strategy https://www.bullionstar.com/blogs/k...nternationalization-and-chinas-gold-strategy/
