What are the alternatives?<p>- euro<p><pre><code> Too many cooks spoil the kitchen, unpredictable policy, serious liability monetization issues. Currently Europe runs the presses about as much as the US. IT is going to be running the presses even more as the entire continent militarizes while the US's share of security agreement wanes and Europe pays for a greater share of its defense.
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- yuan<p><pre><code> Debt to GDP ratio of 200%, highly manipulated currency (uhh how do you think the evergrande crisis just disappeared one day), *capital controls* where citizens can't take money out of the country... When capital controls are removed, necessary to achieve reserve currency status, the whole system will suddenly be incredibly unstable.
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- ruble<p><pre><code> Is using the reserve currency of a pariah state really a consideration?
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- reais<p><pre><code> Let's use a currency that has its name because they had to trick people into acceting a remonetization for the Nth time.
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The whole dedollarization narrative is like some weird propaganda pushed by china. Look, the dollar sucks, and maybe some countries will flip to the yuan (it's easy to buy off politicians) but those countries that do are going to be utterly screwed because the it's structurally worse than the dollar, and emerging markets will be forced to be shackled to a currency controlled by a competing (producer) interest.