@RMIV @teknomunk USD doom loop caused by america's controllers utterly trashing its "rep". currently no one wants to buy american debt.

Globally its used to invest, hedge, price goods, trade goods, back other currencies. When it goes, everything will go, and there is no good candidate to replace it. Commodities have some solid value but when insurance/lending goes away, industry output goes, then your commodities are worth less. Worst affected are those who use it as a store of value. some economists have been saying that USD inflation will lead to famines because poor countries need to compete for food using USD.

Thats why you seen even the inconsequencial countries starting to diversify away from it now.

removing the wealth factor, global recession likes to bring out caveman competition behavior. crime rates go up and suddenly no one wants to live in uncivilized urban zoos.

For countries, unless youre a producer of "it", your probably not getting "it". For people, unless you can secure "it", you dont own "it"

BRICS talking about a new currency is vapor. Even if they back it to rare earth or gold, everyone is on the USD system so much, there will never be equvi sized financial market to rival it. doesnt help that the people on the old system want to keep some kind of value and wont make the switch willingly.

The pain will have to happen before a replacement take over.