2022-07-13 11:49:57
Fiat is dying but the dollar is rising
The yuan and euro are falling against the dollar, the USD index is at its peak in 20 years and this is just the beginning, because during a crisis everyone runs to cash and it's the dollar (don't bring the ruble in here, it has its own history.
There is a popular theory about collapse of Bretton Woods system and USD along with it, and something new will come to replace fiat, like cryptocurrencies.
Is the collapse of the USD really possible?
Bretton Woods is a thing of the past, the Jamaican monetary system has been in place since 1976, which took away the dollar's status as the only reserve currency, but it has retained its global leadership.
There is no alternative to the USD used to the same extent in international settlements. The Jamaican system will also become obsolete, but it is unlikely to be replaced by anything radical, because the world economy is ground up for the Federal Reserve's printing press.
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