I have posted numerous times about the USD losing it's reserve status

Need larger defense budget, well why not just print up some money to pay the bills

Well the USA had better get busy producing all the stuff we buy and use domestically as foreign goods will cost a fortune even by todays standard. Actually this would be good to be more self sufficient but I fear the Western powers will not act soon enough

You see there is now competition for FX domination

Russia, China, and a host of Asian countries have 2.6 billion or more population in a rather close proximity to each other

When Biden santioned Russia, and robbed russia of money and assets, russia had a plan

They sold in rubles. The rruble dropped to a low of 150 to 1 USD but is now at approx 80 to 1 USD. Why is this important. Becaause that is approxwhere the ruble was before the sanctions. If your bank acct shows 1000.00 but you can't with draw any to pay bills what is the sense in having money in that bank

Same with russia and others affected by sanctions. The money in foreign banks was useless

So russia sells oil in rubles to western countries and if you don't pay up in rubles -  no oil. very simple. Especially with china willing to pay in gold, and the gold stays in china with a credit to russia. Nice arrangement if you can make it work and also a host of other countries needing oil. In fact last qtr russia sold more oil in rubles/gold  than previous months

Now the kicker is russia and china are working on a commodity/gold backed currency.

If they get  the kinks worked out, then Africa and SA are willing trade partners. Now that is a serious amount of the world population that doesn't need or want USD, especially if your bank acct is at risk

The USD is still the major currency but I think one way or another, the USD will eventually fail and the value of USD will only go down and prices we pay will only continue upward

You can't print dollars to infinity and rob other people of their bank acct and assets with out serious consequences

Would you keep a bank acct of 1000.00 if you could not access the money. Would you be looking for a different way to manage your money

In Canada we are used to our money not being worth any thing. Your banks won't accept a canadian cheque, canadian cash. Your gas pumps don't recognise our plastic

So we have to do things differently when in your country and so will russia, china and a large part of the world, do things differently. Trust me those parts of the world will buy and sell and they will work out a method of payment that does not use the USD

This is a large part of the world population, affected by sanctions, so we can't assume the method of buying and selling, paying bills etc. won't change

How will we pay for our TV, house appliances etc in yrs to come when the china does not want USD. What can they do with USD when they want to buy russian oil