Iranian officials urged young people to form human chains to protect power plants, as U.S. President Donald Trump warned that a “whole civilization will die tonight” if Tehran does not meet his latest deadline.
How can they sanction us when global finance still overwhelmingly depends on the dollar though? It would certainly accelerate efforts to move to a new financial regime but it would still take years to accomplish.
Maybe mass dumping of US treasuries could be a feasible immediate option.
How can they sanction us when global finance still overwhelmingly depends on the dollar though?
The world has been gradually de-dollarizing for over a decade now. USD held as global currency reserves has fallen from 70% to 40%. BRICS nations are implementing their own payment systems based on the renminbi, and the eurozone obviously can operate independently already.
A lot of global value is tied up in US investment systems, sure. But a nuke drop would make that value not very valuable anymore. It would suck and the world would be stuck in another great depression, but the rest of the world has plenty of functional financial systems to keep moving on.
How can they sanction us when global finance still overwhelmingly depends on the dollar though? It would certainly accelerate efforts to move to a new financial regime but it would still take years to accomplish.
Maybe mass dumping of US treasuries could be a feasible immediate option.
The world has been gradually de-dollarizing for over a decade now. USD held as global currency reserves has fallen from 70% to 40%. BRICS nations are implementing their own payment systems based on the renminbi, and the eurozone obviously can operate independently already.
A lot of global value is tied up in US investment systems, sure. But a nuke drop would make that value not very valuable anymore. It would suck and the world would be stuck in another great depression, but the rest of the world has plenty of functional financial systems to keep moving on.
The move to a new financial regime would take as long as it takes a market to crash.