I like RT.
But like Zero Hedge and other slightly eccentric alternative media sites, they have this obsession with the idea that the US economy relies on the dollar being the global reserve currency.
They print these sorts of articles daily.
In point of actual fact, it doesn’t matter if the dollar is the global reserve currency. I mean, I guess it’s good, because it weakens competitors, but it doesn’t strengthen the US economy in any way other than that it weakens competitors. And secondarily, it is a symbol of US power.
On the flip side, countries like China have a massive benefit by not being the global reserve currency because they are able to manipulate the value of their currency willy-nilly, giving them an extreme trade advantage. And most countries other than the US would just cut trade with them for doing this if their own currency was the global reserve currency.
Russia certainly wouldn’t let China screw them like the US lets China screw them through currency devaluation.
China benefits massively from the current system.
Furthermore, the US dollar isn’t going to stop being the global reserve currency unless the US economy collapses (which it won’t, unless its military does first), so all of these claims are just cart before horse conspiracy theories.
There is a lot of goofy stuff that goes around that is just time-wastey and that people should ignore, and this basically includes anything related to the US economy collapsing or being undermined by a foreign power.
The only thing that can undermine the US economy is the US government. And they will.
But it’s going to be a while.