reply on: Is the Dollar the Global Reserve Currency Because There's No Better Alternative? \ stacker news ~econ

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21 sats \ 6 replies \ @Satosora 12 Jun \ on: Is the Dollar the Global Reserve Currency Because There's No Better Alternative? econ

I guess it isnt just the USD that is important. It is the government and the banking system that is behind it.

20 sats \ 5 replies \ @Undisciplined OP 12 Jun

True. It’s really that stuff that backs the dollar, more than the way it’s managed.

21 sats \ 4 replies \ @Satosora 12 Jun

Yes, the swift money system. I wonder what they will do with the brics? China or russia or idias system?

20 sats \ 3 replies \ @Undisciplined OP 12 Jun

I don’t know, but I’m expecting it to be a huge mess.

21 sats \ 2 replies \ @Satosora 12 Jun

I dont know if they have a monetary system to back up all the transactions... Will be interesting to see in the near future.

20 sats \ 1 reply \ @Undisciplined OP 12 Jun

They don’t, and they can’t agree on what kind of system to adopt or how to share control over it.

21 sats \ 0 replies \ @Satosora 12 Jun

The sharing control will be the major part. China has 40% of it, but I think they will need to all put in more if they want it to be the international money.