Reply to Does anyone else believe the impending financial crash will be bigger than 2008-2009?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My concerns is BRICS and loss of reserve currency status.[/quote]

That ship has sailed -- it was a forgone conclusion when the USA froze Russia's sovereign reserve of dollars back in February 2022. No sane nation will hold a "reserve" that can be frozen at any time at the whim of whomever is in the White House.[/quote]

Pretty easily actually- don't send hundreds of thousands of troops to invade another country, and your money won't be frozen. Funny how simple it is![/quote]

Iraq War, anyone? Libya? Syria?

It's easy to spout off flippant remarks like that, but no sovereign nation will hold a "reserve" that can be frozen when *your* nation's actions (be they invading another country or something else) can serve as the predicate for another nation (i.e., the USA) freezing your access to your reserve funds. Of course, it's just egregiously funny that the USA has gone around invading other nations for decades.

In any case, ultimately it only hurt the USA that we did that. Now the de-dollarization of the world is inevitable and the U.S. dollar will inevitably lose its status as the world's reserve currency in the coming years.

What will that mean for us? A much weaker dollar and much higher prices for anything we import (which is almost everything). There may be some silver linings, such as increased domestic manufacturing and reduction in government spending that comes along with loss of a money printer that prints the global reserve currency, but it will be a bumpy ride.[/quote]

Huh didn't know we had any Administration/Russian assets posting here, good to know.  If this was the case, why didn't the dollar weaken significantly in 2022?  Why only now?[/quote]

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