Post
Topic
Board Economics
Re: Maybe Not Possible For Governments To Get Off Fiat??
by
avikz
on 17/04/2023, 05:07:54 UTC

Would this be a case of intimidation from more dominate countries that is preventing other governments from wanting to change the financial system?

Thoughts?


I believe you are referring to the global trades? If yes, things are going to change sooner than later. Multiple countries have already signed agreements to use their own money for international trade. One of the most recent one is Saudi Arabia to stop using USD for their trades.

https://www.cryptopolitan.com/saudi-arabia-cuts-ties-with-united-states/

That's an alarm for the US government. So the debate here is not to change the financial system out of fiat. Fiat will remain as it is. But the dependency on the US dollar is going to decrease which will decrease the Purchasing Power of USD. It may change if US decides to attack middle east again for no reason!