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jags

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jags
·3 lata temu·discuss
I don't think anyone can deny the benefits of having USD as a default currency for global trade as of today but just think once from the perspective of a country against whom USD is used as a political/economic weapon. Iran/Russia won't care much about the points you mentioned. They would come up with some workaround/compromise instead just to keep things going. USA has a great currency but they use it as a tool of bullying others way too often. Other countries have started noticing and are now taking concrete steps to come up with an alternate/backup plan. And it may not have a direct effect on US economy if some other currency becomes dominant but they would certainly lose out on their political dominance (they would no longer be able to strongly impose economic sanctions and coarse others to do as they please) and that could have snowball effect on its economy.
jags
·3 lata temu·discuss
Heard it in a video somewhere that it won't be a one big blow that takes down USD, instead, it will be thousand-little-cuts. USD won't be replaced by a single currency instead countries pissed off by US will start using their local currency as and when possible. E.g. India buying oil from Russia in dubai dirhams/rubles. China and Russia doing their trades in yuan amd ruble. Here are few more examples: https://www.google.com/amp/story/s/www.wionews.com/web-stori...

I personally feel that USD dollar circulation will go down a lot in not so far away future and the domino effect will be significant on US political and economical dominance.
jags
·5 lat temu·discuss
I like this idea! Free for small and paid for medium/big. I think the real wisdom lies in taking the middle path (mostly). I recently read how babel, a project used by millions, struggled to keep few full-time developers. It was heart-breaking. Great developers gets glued to the idea of open-for-all at the cost of practicality. It's kind of like how people say "follow your passion" but realistically this approach only works for a a very tiny percentage and rest just struggle to pay their bills. But I am sure some projects out there must have taken this middle path. It would be interesting to know how it worked out for them.