By freezing Russia’s foreign reserves in central bank of US, the US told the world that any country's access to their reserve holdings in dollars depends on politics, depends on their foreign policy. If US are not happy with their politics, their foreign policy, US can take away their money. Powerful? Yes. Trustful? Not anymore.
I can tell you now countries will consider their foreign currency reserves in light of their foreign policy. India will do it because their going to war with Pakistan is possible. China will certainly do it with regard to their Taiwan politicy.
We are linking the politics to central bank. This is very harmful to dollar as reserve currency in term of trust.
This is just one of flaws from your post. There are more.
Replies to: "Just take 1 of your empty & flawed slogans to rebuke. Powerful Not = trustful. You misunderstood it"
- I won’t weed through the discussion below. But the US dollar will remain dominate. Why? Read. - PBHangingChad - 4:46pm 4/25/22
(11) [View All]
- Just take 1 of your empty & flawed slogans to rebuke. Powerful Not = trustful. You misunderstood it - Eli - 6:05pm 4/25/22
- Fine all serious comments but where is the threat coming from and which currency will prevail? You - PBHangingChad - 6:53pm 4/25/22
- Don’t listen to Eli… - Domer From Hell - 8:44pm 4/25/22
- $ will still remain #1 as reserve. But the point is countries realized they can't depend on a single - Eli - 8:42pm 4/25/22
- I’ll humor you give me a world currency that will assume the dollars position. Be careful. [NT]
- PBHangingChad - 9:05pm 4/25/22
- Today's dollars position is not achieved by today's policy and not achieved overnight. Its status - Eli - 11:17pm 4/25/22
- I would like to know which currency will become the reserve currency in your mind. [NT] - PBHangingChad - 6:31am 4/26/22
- Today's dollars position is not achieved by today's policy and not achieved overnight. Its status - Eli - 11:17pm 4/25/22
- I’ll humor you give me a world currency that will assume the dollars position. Be careful. [NT]
- PBHangingChad - 9:05pm 4/25/22
- Fine all serious comments but where is the threat coming from and which currency will prevail? You - PBHangingChad - 6:53pm 4/25/22
- If Rome falls, the world will fall? Rome fell. And, it was always going to fall at some point. - NedoftheHill - 5:03pm 4/25/22
- Currencies are a matter of power and influence. If the world’s dominate currency is ever attached to - PBHangingChad - 5:47pm 4/25/22
- True. And yet, democracies are fickle and cannot be trusted long term. Look at US foreign policy. - NedoftheHill - 6:53pm 4/25/22
- Much of what you post I agree. But again, I see no alternative on the horizon nor do others. It - PBHangingChad - 10:10am 4/26/22
- True. And yet, democracies are fickle and cannot be trusted long term. Look at US foreign policy. - NedoftheHill - 6:53pm 4/25/22
- Currencies are a matter of power and influence. If the world’s dominate currency is ever attached to - PBHangingChad - 5:47pm 4/25/22
- Just take 1 of your empty & flawed slogans to rebuke. Powerful Not = trustful. You misunderstood it - Eli - 6:05pm 4/25/22