RE: Economy Destined to Crash, Crypto and Gold for a Freer Society
Why would any American oppose the dollar being the dominant currency given all the advantages it creates for Americans?
Looking at the Iran currency it seems unlikely to replace the dollar, the biggest denomination note there is worth $1.23 and not stable.
One thing not to underestimate is how great our notes are, we make the best paper money in the world, very hard to counterfeit, that makes it really desirable for people who do cash transactions, like drug cartels and other criminal organizations, and that's why the dollar will be the worlds reserve currency for a while. Consider this, how many billions of dollars worth of illegal narcotics does Iran import annually?
How many billions of dollars worth of illegal narcotics does America import?
Yes, the dollar is still king, it could change though. An economic collapse... for instance...
Perhaps, but it would have to be one where we didn't drag the rest of the world down with us, and things would have to get pretty bad before Americans significantly cut back their consumption of illegal drugs to the point where there was another country that consumed more illegal drugs than us. Ending prohibition would probably be required to end the dominance of the dollar. And that is before you consider that we are the worlds largest producer and consumer of oil and gas.