Maybe the end of the dollar reign, but not down or out, in my opinion. Would I minimize my holdings? Sure. Would I hold physical monetary metals? Sure. Would I write off the dollar? No way. Michael @MikeSay98 Something to ponder: If the US Government owned every single ounce of
Below is an interesting chart reflecting the life of various currencies since 1400. The current wisdom seems to be that the dollar is doomed. I think in reality this is true, BUT, the majority of world trade is still carried out in USD, even though it is changing rapidly. The financial systems are mostly USD orientated.
The US has the largest and most diverse economy in the world, although the strength of the Chinese economy appears to rival the US economy in many respects. The Renminbi is however not traded worldwide yet, but does have an established international bond market which is growing and presents real competition to the USD.
Because of the severe negative possibilities of the use of CBDC’s (digital currencies issued by central banks), I would like to have a slightly closer look at them. All is not negative and if I could trust the authorities managing them I would feel much happier. Sadly our current trustees of the system have done an abysmal job, hence we find ourselves in this awful time where there is a need for a new system.
The global political situation is in flux, the currency situation is tenuous and the financial markets are in turmoil.
They are not easy to navigate your way through, but it is certainly fascinating.
I think that the banking crisis is just in its infancy and no matter how many plasters are put on its injured carcass, they will not be able to hold its skeleton together.
As matters stand now it appears to be holding up and I am certain that furious negotiations are underway to try to underpin the entire system. Even Jamie Diamon of JPMorgan thinks ‘the banking crisis is not over’ and the mainstream media is prepared to report it which is surprising.
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