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Comment by radicalbyte | Hacker News Reader

I'm pretty sure that the damage is done. It will take a few years, maybe even a decade, but the USD will no longer be the defacto reserve currency.

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there's no reason for the USD to be the reserve currency, being the currency of a country that doesn't produce anything anymore

But does provide services the entire world depends on.

there's no reason that one government should control that currency.

Trust was its own reason. It's useful for the whole world to have a currency and business environment that operates by rules, even when the rules aren't perfect or fair.

That environment isn't being outcompeted by better, more fair rules - it's just getting vandalized for a few people's gain, and creating risk for everyone else .

there's what you think, and then there is reality.

it's the other way round, the military maintains the world order, the currency is used as reserve, and they get to provide services that nobody else can provide while they're top dog. they are not on a trajectory to remain top dog for very long.

I remember when everyone said the Euro was the new reserve currency - even a Bond film used it as a plot point.

Came to nothing.

But things can change no? Like the country whose currency we use becoming untrustworthy. Do you think the world watched the first trump presidency and thought to do nothing?

It was US policy to actively work against that and it was an acceptable deal for us given that we've been friends and allies forever. Now Trump has turned the US into our heroin-addict sibling we can no longer rely on them.

So they’re going to…. Be nicer now? Less crazy?

But at that point in time the USA wasn't run by a clown show of grifting circus performers.

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