Last week, Jeffrey Tucker, CEO of the American Institute for Economic Freedom, spoke about the potential loss of the US dollar’s status as a reserve currency in the future, with digital dollars serving as a replacement. Additionally, a Russian official spoke about “liberating from the dollar” and Russia’s plans to bolster local currencies and reduce reliance on the US dollar.
The history of fractional reserve banking in Italy and its contribution to the collapse of the banking system in the 14th century was also discussed, highlighting the significant changes the world has undergone in its currency and economic systems over the past few decades, suggesting that another change could occur in the future.
This shift reflects the soft power of nations and their impact on the world, where countries like the United States rely on the US dollar as a tool for influence and control in the global economy. Although this transition will take time, it will have a significant impact on the global economy and people’s lives in the future.