“Things” may be shaking out, and Putin is no doubt feeling ever more vulnerable in many ways.
david fb
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You mean launching an unprovoked, brutal, invasion of a neighbor has negative consequences? Darn!
/sarcasm
Steve
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Yep today the Kremlin was complaining the US had not condemned the last car bombing.
Perhaps instead of whinging the Kremlin could look in the mirror and puke.
I think you’re overlooking an important point. The US didn’t choose to host the worlds reserve currency. They didn’t lobby some international body to pick the dollar. It just happened. Businesses and even governments started pricing international transactions in US dollars because the currency and government were seen as more stable than other currencies and governments. Stability is good for business.
Until the US dollar and government become less stable than other options, the greenback will remain the world’s reserve currency. Personally, I think the only real potential competitor is the Euro. This BRICS talk is hugely misplaced. Yes, they might form their own trading bloc, but that doesn’t make some combined currency more likely to become a reserve currency. The governments of several of those countries can’t be trusted very far. One country (China) supposedly pegs their currency to the dollar.
The biggest obstacle to the Euro becoming a reserve currency is it’s age. Let’s not forget that the currency is only about 25 years old. As time marches on, my speculation is that the Euro will be the one to eventually overtake the Dollar.
–Peter
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