Kind of looking as if the only way the US can change course is a military coup. Where is Brigadier General Jack D. Ripper when you need him?
Yup. It’s not just China. Countries are slowly divesting from the United States and it’s only going to accelerate as time goes on. Once 51% of the world currency leaves the US the remaining 49% will disappear over night.
What will happen faster is Iran will win the war, demand sovereignty over the Strait as well as right to develop nuclear technology, have enough leverage in unison with China and Russia to start forcing the US to negotiate on their terms. That will kill the dollar, too.
Exactly, it’s a self reinforcing process with more countries fleeing the currency as confidence collapses. And having a global reserve underpins the US fiscal policy, if the demand for the dollar drops dramatically then it’s almost certainly will lead to a domestic economic crash.
