zlacker

[return to "Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro"]
1. mark_l+R3[view] [source] 2024-06-13 19:03:26
>>anigbr+(OP)
As a US taxpayer I don’t particularly like this. We rely on being the world’s reserve currency, and many things get more expensive, e.g., serving government debt. In 2000-2001 we were able to effectively bully three countries that were talking about moving away from the US dollar, but I am not sure if that works now.

I have a lot of personal theories how my country can best cope with future geopolitical adjustments. If I were in charge, the first thing I would do would be to close most foreign military bases. We can have the strongest military in the world and have them largely based in the US. I think the US Navy continues to be a good investment, but I would cut back a small amount on intel and other military branches.

◧◩
2. mschus+G4[view] [source] 2024-06-13 19:07:31
>>mark_l+R3
> We rely on being the world’s reserve currency

And that won't change any time soon. The Euro is a decent currency but we're too disjoint to back something supposed to be a reserve currency, and China's Yuan is too much controlled by the government (and exchange limited) to be viable.

[go to top]