Quote from: tread93 on Today at 01:31:30 AM

Quote from: magneto on February 02, 2024, 10:57:10 AM

I highly doubt it.

People have been saying that the US dollar will become less of a reserve currency globally for decades now. And its status has simply not changed. And it's not going to until there is a system reset worldwide where all fiat depreciate in value.

In that instance, I don't think that the replacement would be any other fiat currency either, no matter how strong their economy may be. It is almost guaranteed to be a cryptocurrency, and BTC is the most obvious candidate at the moment.

I mean look at what it took for the US to take over Pound Sterling of Great Britain and replace it with The United States Dollar, a world war and an entire people were at risk in the making of that. That is some serious SH#^$&* for that to happen. The thing that is backing the US mostly is the military , which ours is like 10 times larger than the next? idk but its bigger by a decent margin than any other country for sure....

I think the US has more gold reserve that's worth more than the amount of military it has.
The dollar has strong influence in many countries despite the Euro dominance, hence why it is of consequence to any country that abandons it because they would find it hard to conclude any international trade.
The BRICS currency is just to as rightly said, reduce the influence of the dollar power over major country economies as well as creating a balance where the local fiat will become of value in exchange for the Yen.