One of the things I never see discussed when talking about the dollar is the fact it is the international currency of criminals. There's a reason Pablo Escobar buried bags full of dollars rather than gold or his local currency. Dollars don't expire. They're easy to transport. They're accepted everywhere even if they're not the default currency or redeemed at a 1:1 exchange rate. That doesn't mean you can go to any random vendor in China and they'll take dollars, but it does mean you can find someone to exchange dollars for local currency in any major city in the world including Russia and China right now.
As long as this remains the case, the dollar will remain pretty strong. I don't know how every person who does a story on BRICS or the pretrodollar misses this fact. Banks like know all about it.
USD purchasing power is slowly going over a cliff right now, so there won't be much incentive to hold on to it like before. Eventually a more stable currency (BRICS, or god forbid some CBDC) or commodity will surpass it and criminals will make the switch, accelerating the dollar's demise.
For as long as the US dollar remains the reserve currency sure, how long will that last though?
That's a good point. Yay, we're #1. Criminal tested, mother approved.
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