Did the U. S. make a huge mistake by weaponizing the SWIFT system and the dollar and thereby risk losing the dollar as the world’s reserve currency?

[Kelley1]

BRICS is developing its own financial system that will replace the Western SWIFT network.

159 Countries Set to Adopt BRICS New Payment System. https://watcher.guru/news/159-countries-set-to-adopt-brics-new-payment-system

It will not happen overnight but when 80% of the countries, including China, Russia, and India, decide it is to their advantage to create and alternate to the SWIFT and the dollar, it will happen.

For eighty years, having the world's reserve currency has allowed the U. S. to run large deficits in terms of both international trade and government spending. If foreigners no longer want to hold dollars for savings, it would force significant belt-tightening at home. If the dollar gradually loses its place atop the world financial pyramid, it would mean less access to capital, higher borrowing costs and lower stock market values, among other effects.

[SixFootSexy]

There biggest fk up was getting off the gold standard. BRICs would be powerless without the trust of hard-backed money. I personally believe the globalists want the US Dollar to collapse intentionally, so they can own everything, then switch everyone to a digital currency in the aftermath of an economic fallout. I think it will come IMMINENTLY, prepare with a couple months of food and bugout bag if you live in the cities. People will get unhinged when they can't feed their family. I hate to sound alarmist, but I've heard from several people it could happen before the end of the year.

[MicahRaine]

A-fucking-men.

As soon as we left the gold-standard, it was a matter of time. But nobody knows about it.

[strateguy632]

Good point.
The surprise was even dnc economic advisors said policy needs gold but dumb democrat president, truman? Or fdr before war? Ignored even his own party policy! Changed from hold for banks to gain something at a bigger loss.

[MicahRaine]

@strateguy632 yep 😐

[Anonymous]

This was not a good move as it creates more problems by accelerates the process of replacing the dollar and preventing Americans from leveraging that to help deal with our financial issue.

[Wallythewalrus2]

Like you said, 'It will not happen overnight". I'll one up you and say, it will never happen, at least not in my life time. For one thing, the US has the assets to back the dollar and they don't manipulate it like other countries. If you want me to explain it, I will.

[Kelley1]

The U. S. Dollar remains the preeminent reserve currency. However, the percentage used in international trading is already declining. www.imf.org/.../dollar-dominance-in-the-international-reserve-system-an-update

[strateguy632]

Despite a chance to blame biden for bad policy, n i usualy want to blame him, here my integrity is exposed.

Blocking russia from swift is "prevented use " not "weaponizing" like something active to do damage. This was necessary for limiting russia ability in war related efforts.

Even with the dollar RISK it was necessary. N justified n probably indirectly saved some Ukrainian lives.

About a swift alternative system russia already responded and china already refused to arrange the system. Which is a step away from unrelated reserve currency.

If they do arrange the system they would still use $ dollars due to stability n the ego of russia demanding ruble n china refused.

Setting up a system is not likely and china already said no, so even the replacement system won't start, which is unrelated to reserve currency in your question, especially if the alternative will use $ as above.

[Kelley1]

“If you don’t watch the media, you’re uninformed. If you watch the media you’re misinformed.”

Since you believe the media lies, you are misinformed.

[Drewtate]

No. Russia is crumbling. China is facing economic hardship. India is looking to take china's role as workshop to the world and is exploiting Russia. The rest of the BRIC countries are basket cases or in the us sphere of influence.

[Telekinetic-Potato]

The problem is that there's only two things that can give our money enough value to make this impossible.

Intense manufacturing and export sales or war.

[DrPepper12]

Great question!! Even more so at 19 yo!! No we didn't. It's good leverage and access control can achieve foreign policy goals.

[thearchjoker]

Definitely

[gorydetails]

Yup.