I agree.we might have already witnessed the first moves in the process of killing off the current USD. (1) 12 years of currency expansion on a breathtaking scale, combined with a zero interest rate, guaranteed to create asset bubbles and an unplayable debt overhang. (2) Covid, and further currency inflation by handouts. (3) The US Fed's "transitory" call on inflation. (how could they be so inept?) (4) The fastest and most severe set of rate rises, guaranteed to destabilise banks and money markets. (5) The hundreds of billions of taxpayer's money sent to highly corrupt Ukraine, money that could go some way to cutting the US budgetary deficit. (6) In he face of bank stress, the Fed shows no sign of reducing rates or slowing its contraction strategy. (7) All the "leaks" regarding the coming Fed CBDC.
This has gone on in the face of a group of nations in the process of opting out of use of USD in trade payments. I'm persuaded that the demise of the reserve status of the USD is now being managed. The US dollar has been outrageously mismanaged and politicised to bend the wills of nations to conform to US foreign policy. Further, the US position on the status of gold is completely out of step with the rest of the world. This is going to be very interesting going forward. 23.
