Sanctions are one of the dumbest ideas, especially in this environment where "competitors" are starting to pop up.
One thought I've had for a while now, what if the US does actually have the most gold and uses that in a similar way as the BRICS plan to, i.e. means of settlement more so than a currency. If he desperately wants to keep the reserve status then this will be one of the only options, somehow linking gold to the USD to regain some trust (and obviously not sanction any countries who don't).
Everyone talks about all the gold china has, but I would wager the US has "borrowed" quite a bit from all the countries they have brought "democracy" to in the past.
Just a thought.
I don't know if the gold price rising will cripple the US as much as people think. If they get someone in there who stops actively trying to lose the reserve currency status it could be done IMO. Revalue gold to cover all their debt, take a libertarian approach on the home front and slowly pull back the worldwide mobilized military operations. It's certainly more nuanced than that but they need to start somewhere if they want to avoid a Weimar situation.
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