It could be said that way.
But don't forget just one thing, Russia in the 90's has tried to replace dollar as reserve currency too, so I think she specifically waited for the opportunity given by your government and the Federal Reserve to destroy American economic hegemony.
Basically, I have nothing against the U.S. however, I'm not glad that countries like Russia and former Soviet Union states are rising again.
My state is her only alliance in Europe and believe me, their principles are still extremely racist and fascistic. Same in my country unfortunately.
Eastern world leaded by China as communist country and Russia as fascist one, it scares me a little bit, so I'm not feeling a lot save for the future.
If it happens that scenario, what will be the consequences for the United States?
Will the standard of living of American citizens drop drastically once the dollar loses his reserve currency status?
Will that lead to dramatic budget cuts?
As I can see, you all agree that a bad future of US dollar is inevitable...
What do you mean by that?
(if it's not a secret of course)
So, you think that US will become a new fallen empire, like UK?
Ivana.
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