Summary

The article discusses the global dominance of the US dollar, potential challenges from BRICS nations, and the implications for the US economy and citizens.

Abstract

The text delves into the pervasive influence of the US dollar as the world's primary reserve currency, supported by the vast circulation of dollars globally and the US consumer's role in driving the US GDP. It acknowledges the dollar's resilience in times of uncertainty and its role in international trade. The Federal Reserve's monetary policy tools, including reserve requirements, discount rates, and open market operations, are outlined as mechanisms to control the money supply. The article also speculates on the future of the dollar amidst the rise of BRICS nations and their potential to challenge the dollar's dominance, particularly with resources like cobalt. It questions whether the dollar will maintain its greatness or face decline due to geopolitical and economic shifts, including the influence of China and Russia. The personal narrative of the author is interwoven, reflecting on life's challenges and the journey back to writing on Medium, emphasizing the collective stories shared by writers within the Reciprocal community.

Opinions

The author suggests that despite the US dollar's current dominance, there are inescapable fears about its future, especially with the potential rise of alternative reserve currencies from China and Russia.
The article implies a sense of caution against being overly dramatic about the dollar's potential decline, acknowledging the continuous changes in the value of money.
There is an underlying concern that the US dollar's status could be threatened by the actions of BRICS nations and the global demand for resources like cobalt, which could shift economic power dynamics.
The author expresses a personal journey, indicating resilience in the face of life's challenges and the importance of storytelling within the Medium and Reciprocal communities.
The piece questions whether the US should be more concerned about the economic strategies of China and Russia or if these nations are directing their efforts at the wrong adversary.
The author reflects on the influence of tech giants like Google, Microsoft, and Apple, as well as the energy sector, in the context of the dollar's stability, hinting at a potential shift from oil to other resources like cobalt.
The article suggests that life's unpredictability can lead to growth and new opportunities, as seen in the author's return to Medium and engagement with the Reciprocal community.

Inescapable Fears

When you pray for rain you have to deal with the mud, are you going to give up or get up gather your thoughts and unclench your fist protect your pockets because Americans may be in some deep sh=t

Money never sleeps

Money never sleeps more than 200 million moves per second, It's believed that more than two trillion dollars are in circulation around the world, and two-thirds of the United States GDP is driven by the US consumer.

The dollar

may or maybe not be replaceable,

but you can never outrun your Inescapable Fears.

Can China and Russia's reserve currency be the Final Frontier?

6.9 TRILLION is HELD BY 149 Countries according to the INTERNATIONAL MONETARY FUND

Two-thirds of one hundred dollar bills and nearly have of fifty dollar bills are held outside of the US. In times of uncertainty, people flock to the dollar for safety. That's why the US currency has remained the world's reserve currency.

The Fed uses three tools to control the supply of money

Reserve requirements
The discount rate
Open Markets operations

Each of these impacts the money supply in different ways and can be used to contract or expand the economy

It's a Cold War

I am more than sure not one US citizen wants the dollar to be dropped, even after the Nixon Shock. Sometimes we make the wrong choices to get to the right place. How will the US dollar turn out will it be jolted by the BRICS Nations gathering against it?

BRICS nations

Brazil
Russia
India
China
South Africa

The Dollar the Great

Will, our status drop or prevail does Google, Microsoft, and Apple matter as much, or is it an energy war? Has the Oil Barrons lost their grip like Exxon? Will China and Cobalt take the world by storm causing the dollar to decline or possibly collapse?

Cobalt- is a chemical element with the symbol Co and atomic number 27

It is an essential mineral used for batteries in electric cars, computers, and cell phones. Demand for cobalt is increasing as more electric cars are sold particularly in Europe.

Where Governments are encouraging sales with generous environmental bonuses. Pack your patience even pineapples can only grow one at a time!

The dollar at this point in time still influences everyday business deals around the world. We are not negating the fact that the value of money changes continuously. Will the dollar remain great or is it too Late?

Has China and Russia come on too strong? Or have they fired their shot at the wrong enemy? Will our lives change do we soon have to answer to the Chinese and Russians? The NBA compromised with China. Now Russia has Brittany Griner.

I am not a scholar but I want to know how Russia and China's reserve currency will affect our US Dollar. My advice is not to be too Dramatic!

Life happens even if you are not ready

I have not written on Medium since Dec of last year, life happens and it sent me through some sh=t. This is why we all write because as a collective we all have stories to tell.

Life never comes in a Terrific package. I followed my mentor over here to Reciprocal even though she has not heard from me in a while Donetta Anglin check out How I Found the Beauty of Nature Surrounded by High-Rise Building and City Life

I want to thank

Sahil Patel for welcoming me into the Reciprocal community.

Marianne O has a very powerful piece about nature check out Restore Myself Trekking San Francisco Hill and Smelling Roses

I have to learn how to use all the medium features again. It leaves a bitter taste in my mouth like hose water, but even through the wreckage, I found my way back to medium than to Reciprocal.

The Pen Slanging Assassin making his way back. It’s not what can Reciprocal do for you? It’s what can you do for Reciprocal ??????