History, however, is very clear on this point: wealth and power shift. Reserve currencies change. And it would be foolish to assume that this time is different. Reserve currencies hold their status because the rest of the world has confidence– confidence in the soundness of the currency, confidence in the power and prestige of the country that issues it. But let’s be honest: the rest of the world is probably not brimming with confidence in the United States right now. They’re looking at this shameful, disgraceful catastrophe in Afghanistan and wondering, “Is this seriously the world’s dominant superpower?” But it’s more than Afghanistan. It’s endless deficits. It’s ridiculous spending initiatives that pay people to stay home and NOT work. It’s rising inflation thanks to the continued erosion of the US dollar. None of these inspires confidence.
Donate today and support the work I do seven days a week. Each day I publish more than a dozen news articles and videos, from honest, independent and reliable sources, on a completely ad-free website. Thank you in advance for your generosity, so that EarthNewspaper.com All The Honest News Fit To Publish may keep growing.