| >What will it take? An asteroid impact? I think dislodging US dollar from being 'reserve currency', and subsequently removing US (and UK) financial and judicial systems from being the 'international financial litigation and contract management' realms -- will do it. If it USD is replaced by a gold-backed crypto currency network that uses something other than 'Proof-of-Work' to ensure resiliency against attack. This will be 50% of the steps to get to the above. Replacement of US and UK judicial systems as 'arbitrators' of the contract terms -- will be harder to replace, however. Overall US dollar seems, now supporting what some would call, 'perception based' economy. Where majority of the leverage are afforded to non-material based businesses (Ad networks, financial services, legal services, etc). This kind of focus, perhaps affects the direction of the world progress. Not sure if this 'skewing' is good or bad for the world and future generations. For long time, there was no alternative to Western world ideals and approaches in many respects. But the trust in these has been quickly eroding, and it started decades ago. We might be at the 'apex' of the trust erosion process, but yet to see where it will go. Right now, whether it is a 48K USD for an influencer's ticktock post, or 60K USD + for a bitcoin, or 20 Bln USD losses by a small hedge fund. This all hardly makes any sense ... to many.
Unless you look at it as faint indicators of the USD super-volcano-sized inflation, erupting. |