Comments by "AQuietNight" (@AQuietNight) on "Hostage To The Dollar - How The U.S. Controls The World" video.

I think being the world's reserve currency does as much damage as it does good. Before the dollar replaced the U.K. pound sterling, the U.S. had a growing and strong economy. It certainly can be said when the U.K. pound sterling was no longer the world's reserve currency the British certainly were not left hurting. Any pain they felt was self-inflicted. The Swiss franc is not a reserve currency but the Swiss do eat quite well. If the U.S. loses world reserve status, for the first time in ages the U.S. will have to clean up it's books. I do not see loss of status all that bad. Plus if oil was used to back any other currency that may not work for countries that already have oil. What advantage would it be to take oil backed Putin rubles when Saudi Arabia already has plenty of oil? To take payment from Russia, Saudi Arabia would have to accept the oil and then find a way to sell it so it can put the money in their central bank. The supposed next currency up for reserve status would be the Yuan but China will see it's economy in the manufacuring sector start crumbling as Chinese goods start becoming expensive. This will leave large parts of it's economy to shrink. A rise in unemployment will soon follow. The process has already started and would accelerate as the Yuan goes up in value. People might be saying, Yeah, China's new golden age... it certainly was short lived. It is possible we could have several different currency blocks. Feeding a growing population may give countries with a rice surplus more power currency wise than a bloc that has oil. If we have multiple currency blocs and the complications that go with it... the world may have to go back to a gold standard just to make the accounting easier.
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Russia wouldn't have any problems at all if they didn't invade Ukraine. Keep that in mind. So, let the Russians suffer. I have had a little bit of amusement over the whole thing, Russia gets to fight a useless war but it will be China that pays for it. Riyals are useless for spending. If the U.A.E. has oil, Saudi currency would be of no value if they have to buy leather goods from Europe. They will have to convert the money to what ever currency they need to buy the leather goods. It's not a problem if the U.A.E. has U.S. dollars. They dip into their dollar reserve and just pay for the goods.
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