You are viewing a single comment's thread from:
RE: HODL Baby!
The dollar COULD crash, but in all likelihood, it WON'T crash, not in the near-term at least. It makes sense that it would, but when you consider that it's backed by the Pentagon and the largest military in the world, its use can easily be enforced as it has for decades. Countries that don't comply get bombed into oblivion.
I see your point, but to suggest the US would bomb Europe, China or Russia for abandoning the dollar (Should it become unpredictable, like a currency crisis) is extremely unlikely. Having fiat as a reserve currency always posed this problem. In my eyes, is the remedy a gold or bitcoin standard?
The current model is finite
Saddam Hussein began trading for oil without dollars. Ghaddafi was launching a gold-backed Dinar currency. What happened to their countries? Maybe it won't be a hot war from the start. Could be a cyber attack or biological warfare. Anyone who challenges USD supremacy gets met with force, period. It never has been and never will be otherwise.
A bitcoin standard is one potential remedy. But no standards are needed really, just let everyone become their own financial sovereign.