Quote from: Abiky on Today at 09:38:15 PM

Quote from: Argoo on June 03, 2023, 05:09:51 PM

The United States is quite wise to print extra cash so that it has little effect on increasing the rate of inflation in their country. They exchange the printed money supply for necessary goods in other countries and make sure that in the future large consignments of cash do not return back to their country. As long as the dollar is the universally recognized reserve currency of the world, it will not be afraid of default.

That is true. But many countries are beginning to move away from the USD. Venezuela, China, Russia, Iran, and many others already began the de-dollarization process. If the list of countries abandoning the USD keeps growing, then it will be game over for the US for good. I fail to see how the country will be able to survive after this happens.

If the FED keeps printing money, inflation will rise and crypto (especially BTC) will go all the way to the moon. This is inevitable, especially when the US finds itself unable to pay its debt. They can raise the ceiling all they want, but that doesn't mean the debt will vanish for good. Who knows if we're close to seeing crypto replace Fiat currencies as the standard unit of account? Just my opinion

I am from Venezuela and I can assure you that the USD here is more recognized and stronger than ever... It has reach to a point where it has been replacing our local currencies these lastest years. Nowadays it is common for people to handle USD in cash and there have been banks which offer accounts in that currency. People have turned to Bitcoin, but mostly also stable coins pegged to the dollar.

I have not seen a single Yuan bill being used in a transaction in my life, and yet even thought the USA is mostly hostile to us, we have embraced their money, so you can rule out Venezuela for now (and in the mid term) when talking about de-dollarization.