RE: Will The USD Get Replaced as The Global Reserve?
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Gold is being picked up by China simply because you do not hold Treasuries of those you are going to war with. This is the situation with China and the US.
As for the USD, it is a joke to think it is going anywhere. People really do not understand how things work.
The US is by far, the largest consumption economy that the world wants to access. If they set up another currency, they introduce FY risk. This means their trade success becomes dependent upon the USD.
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Totally agree on all of this and a very good and valid point about not holding the currency of the country you are going to war with. It's for sure going to get a little spicy but I still see USD holding dominance for sure. However big advantage to the other side in terms of natural resources amounts.
A country can only consume what it can afford to buy. If the US-dollar ceases to be the world reserve currency, the US citizens may experience the way of Zimbabwe.
India and China have the largest consuming populations in the world.