Rumor Mill: New Reserve Currency May Rock U.S. Dollar in October (Op-Ed)

Westerners are funny people. Westerners have never experienced currency devaluation, EVER! “The Almighty Dollar” has ruled the world their entire lives. Telling a Westerner there might be a problem with the U.S. Dollar is like saying the sun might not show up tomorrow morning. It has never happened; could never happen! Well, it turns out the U.S. Dollar isn’t as “almighty” as it used to be, and some new global currency might be ready to shock the world, literally.

And no, I’m not talking about Bitcoin.

How the World Sees America

Before I get into what the exact problem is for Westerners, and really the world as a whole, I must explain how this problem came to be, and the nature of the situation at hand. You’ll need some context to understand what’s going on. I don’t know everything about it, but I know enough to paint the broad strokes of a likely upcoming scenario for CT readers.

The U.S. Dollar has been the world’s “global reserve currency” for over 70 years, since the Bretton Woods Conference during WWII. The amount of debt England incurred during war time forced it to pass the global reserve currency status over to the United

Read more ... source: Cointelegraph