Comment by Havoc

USD position as global reserve is very much based on trust.

Between the weaponizing that for sanctions via SWIFT, US becoming unreliable as a partner (militarily, politically and economically) and Trump rambling about replacing pieces of the financial system with crypto [0] that trust was bound to waiver

Think we'll have a parallel system in record time. Question is who/how. Russia wants it but they're well Russia. China's yuan isn't open enough. Euro is a bit to regional and dependent on the US lead system anyway. So there isn't an obvious candidate.

Something is going to have to give though given US shenanigans.

[0] https://www.reddit.com/r/economy/comments/1otdio8/trump_says...