RE: RE: Currency Wars: the US Dollar as a weapon
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RE: Currency Wars: the US Dollar as a weapon

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Every use of the US Dollar as a weapon weakens its status as global reserve currency.

There is a powerful and far superior competitor for that title out there which is approaching the tipping point of taking over: Bitcoin.

In the short term the US hurt Venezuela, but in the long term it caused that country to be a leader in crypto adoption.

In the short term the US may be able to hurt Russia by using the US Dollar as a weapon, but in the long term they bring forward the day when Russia adopts Bitcoin for payments for its oil and gas supplies to Europe and elsewhere.
This one move will destroy the US Dollar's reserve currency status if done at the right time - Putin is wise and patient.

The damage to the United States when it loses that privileged status will be immense.

So the US should not be using the Dollar as a weapon because it will blow up in their face.

@apshamilton: Every use of | Ecency