A Reddit Refugee. Zero ragrets.

Engineer, permanent pirate, lover of all things mechanical and on wheels

moved here from lemmy.one because there are no active admins on that instance.

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Joined 2 years ago
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Cake day: December 22nd, 2023

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  • How can they sanction us when global finance still overwhelmingly depends on the dollar though?

    The world has been gradually de-dollarizing for over a decade now. USD held as global currency reserves has fallen from 70% to 40%. BRICS nations are implementing their own payment systems based on the renminbi, and the eurozone obviously can operate independently already.

    A lot of global value is tied up in US investment systems, sure. But a nuke drop would make that value not very valuable anymore. It would suck and the world would be stuck in another great depression, but the rest of the world has plenty of functional financial systems to keep moving on.