I have long thought that the notion of the US losing its dominant role was a little over-hyped.
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Why? All empires, without exception, have ended.

The comment was in the context of US dollar dominance as the global reserve currency in this era, not the dominance of the US.

The reason that I have long been dubious about "the end is nigh" quacking on the dollar domination front is because there isn't at present a viable alternative to the US dollar. The RMB isn't convertible, the Euro has no functioning buyer of last resort or single sovereign backer, and the others are mostly too small. So I figured it wouldn't really be feasible to push the dollar off its perch in any reasonable time horizon.

However, it seems that the US administration has managed to convince me that we live in a brave new world of possibilities...anything can be accomplished if you really set your mind to it. "The dawn of a new error".

Jim

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