The “weakness” of one currency compared to another is a completely different issue. Nations purposely want to make their currencies strong or weak based on their import/export priorities. China keeps the Yuan weak because it wants to export. So “weak” can be strong! And strong is weak if you’re in China and want to buy something made in America — not sure what that might be ;)

The issue of “reserve” is one of safety and fear of inflation. Think about it, OF COURSE Russia and China don’t want to trade in dollars. NO ONE DOES. That’s what’s so fun! No matter how hard they try to make their currencies the “reserve” everyone ends up using dollars. Why? Because they send their kids to school in the West. They want property in the West because they don’t trust their own government! Don’t look at what the CCP reports, look at what Chinese people are actually doing. Go ask them on the street. Because whatever Umair says, most people don’t trust any currency but US dollars. They trust U.S. courts in a dispute. They don’t trust Russian or Chinese courts. Again, I’m not going by what is written about US dollars but the real data and activities of people around the globe.

I was ignorant to the above for a long time.

Why don’t people want to use the Rubble? Maybe because of all the inflation. Real pain for Russians; Real people. None of this means the U.S. Dollar will be the currency most people use tomorrow. But for TODAY, Umair could not be MORE wrong. And his hypocrisy in wanting to be paid in dollars while calling the U.S. the root of all evil…well, okay ;)

Same to you. If you’re so sure of the U.S. demise, why do you rely on dollars?

If you, Umair and I sat in a Russian/Chinese cafe and talked the U.S. down and got our waiter to totally believe us they’d still prefer to be paid in US Dollars over Rubbles/Yuan. I try to keep that in perspective. That’s my point to you. Sure, U.S. is failing, etc.,etc. But for today, shouldn’t we recognize the world everyone else lives in?