Why The Black Hats Need The Dollar To Be The Global Reserve Currency

Dollar’s collapse
Possibly the most serious consequence would be the collapse of the U.S. dollar and its replacement as global trade’s “unit of accountEditSign.” That essentially means that it is widely used in global finance and trade.

Day to day, most Americans are likely unaware of the economic and political power that goes with being the world’s unit of account. Currently, more than half of world trade – from oil and gold to cars and smartphones – is in U.S. dollars, with the euro accounting for around 30% and all other currencies making up the balance.

As a result of this dominance, the U.S. is the only country on the planet that can pay its foreign debt in its own currency. This gives both the U.S. government and American companies tremendous leeway in international trade and finance.

Key Takeaways
A currency collapse is when a country's currency loses all its value and becomes practically worthless in day-to-day use

This is generally a result of political or economic upheaval, hyperinflation, or war

It’s not a common occurrence, but we’ve seen it happen before in various places around the world

For investors, it’s a risk to be aware of, though luckily it’s fairly easy to protect yourself against it

While technically the U.S. dollar could collapse, it's backing from the largest economy in the world
and its status as the global reserve currency makes that highly unlikely

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