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| Yes, and a mismanaged reserve fiat currency will soon fail to be the reserve currency and so give way to something else. There are many who think the $US will not loose its reserve status, in that case they must also beleive it is not now nor will ever be mismanaged. I beleive China identified the problem in the early 2000s and began moving to establish a gold backed currency. Countries not wishing to be subjected to the $US hegemony are moving to align with an alternative also.
It is interesting to note that TPP was not about "free trade", a country can have free trade simply by hosting a meeting and agreeing to some terms and those can be withdrawn from as circumstances change. TPP was instead seen as a way to lock down a trading block and shut out competition, specifically preventing countries within the TPP from trading with countries not using the same terms - of which currency is the biggest factor.
I do in fact beleive most of the world has identified that fiat currencies are mismanaged. Half the world is stuck with the fact that their countries will collapse with the collapse of one dominate currency and the other half the world understands they must move to an alternative currency before their country is drawn into a collapse. The third dynamic is the background endeavour to create a new system to move the collapsing $US into something new so that half the world has a viable option when the inevitable happens. Though blocking the rise of a competitor is a good way to delay things - war with the competitor to supress its rise is a typical response. | |
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Oil, gold, Yuan and the USD
