Comment by marcosdumay
2 months ago
The article answers your question:
> The dollar’s share had already been below 50% before, in 1990 and 1991, after a long plunge from the peak in 1977 (share of 85.5%). This plunge accompanied a deep crisis in the US with sky-high inflation and interest rates, and four recessions over those years, including the nasty double-dip recession.
Or, in other words, at 1991 the US started recovering from the Oil Crisis and the subsequent fuckery. There's a dip in that number around the time the USSR felt, but it's just a small acceleration to the trend.
> Makes me wonder: is this just an artifact of the world being relatively "stable" right now?
Do you think the world is relatively "stable" right now?
Oh, and I'd check the data before believing usage in trade debt and crisis funding are going strong. Two of those are constantly making headlines for how they are decreasing, and "crisis funding" is basically another name for "reserve currency".
"Stable". If any time in history where planets align so perfectly for wars it is right now.
It could play out nicely for USD, if the US stays out of direct conflicts but keeps selling weapons.
We are at constant peripheral micro-wars in the last 33 years. The US are behind these, selling weapons to both sides. Nothing will change. Ukraine saga will continue as it is for many years, before the next one. God bless nuclear weapons that we don't see any direct US-Russia-China conflict.