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Everything that happens in the world basically comes down to economics. That is what makes everything happen. The US is only the most powerful country in the world because it has the biggest military in the world, it only has the biggest military in the world because it has the most money in the world, and it only has the most money in the world because the US dollar is the international reserve currency.
“International reserve currency” basically means that all trade on earth is taxed by the US government.
RT:
The Chinese currency the yuan outperformed the euro by trading volume on the Moscow Exchange (MOEX) for the first time on record, trading data from Friday shows.
According to the data, the trading volume of the Chinese currency on Friday was 52.8 billion rubles ($908 million). The euro trading volume, meanwhile, barely exceeded 41 billion rubles ($705 million). It also was the second consecutive day when the volume of yuan trading on MOEX exceeded 50 billion rubles, while in the first half of July the yuan trading volume had averaged 30 billion rubles ($516 million) a day.
The yuan failed to overtake the US dollar, however, with Friday’s greenback trading volume reaching 124.7 billion rubles ($2.1 billion).
Analysts suggest the growth in the yuan’s trading volume on MOEX stems from banks’ devaluation actions and speculation on currency interventions, which may take the form of yuan purchases as part of Russia’s much anticipated new budget rule.
It’s not a natural state of affairs for a country that produces nothing to be the most powerful country in the world.
China produces the most. Russia is the world’s biggest commodities market. The US could be both of these things, and was, but it no longer is, and we don’t have the ability to reverse it before the dollar is displaced.
This is happening in real life. I’m sort of tired of people telling me I’m a doom-monger. Instead of calling me names, people should explain how it is possible, from where we sit right now in July of 2022, for the US dollar to maintain global reserve currency status.
