Part 6 Understanding Digital Currency and Mandatory U.S. Dollar Recall Its Coming For 2025

The US dollar on its way out?

The United States has been instrumental in leading the post-war global economic system which it helped create. Yet its economic weight has declined over time and strategic competitors in emerging markets are calling for change, including possible ‘decoupling’. Some suggest that the US dollar’s days as the central global currency are numbered.

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More and more countries — from Brazil to Southeast Asian nations — are calling for trade to be carried out in other currencies besides the U.S. dollar. To be clear, the U.S. dollar remains a global forex reserves even though its share in central banks’ foreign exchange reserves has dropped from more than 70% in 1999, IMF data shows. Geopolitical risks and economic dynamics have accelerated the trend to move away from the U.S. dollar. The U.S. Launch A Digital Dollar ! U.S. quietly edging toward adoption of a digital dollar!

In March 2022, President Joe Blow issued an executive order directing the Office of Science and Technology Policy to prepare a report on the risks and benefits of creating a digital dollar for the U.S. In acronym-addicted Washington, D.C., the digital dollar is referred to as a CBDC, or a central bank digital currency. It would be a virtual version of the physical cash you carry in your wallet, resembling a government-issued version of cryptocurrencies like Bitcoin. The presidential executive order is hardly the only time the federal government has asked itself whether it is time for the U.S. to adopt digital currency. Just a few months after the Biden executive order, the New York Federal Reserve launched a 12-week program using simulated data to test a so-called digital dollar. Supporters of CBDCs say they can help make banking services cheaper, easier, faster and more accessible for all Americans in which we all know !

However, critics argue that a digital dollar would generate major privacy concerns and hand over too much power to the federal government, yes that's true!

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Mexico's poverty rate declines from 50% to 43.5% in four years as remittances almost double. MEXICO CITY The poverty rate in Mexico has declined from 49.9% of the population in 2018 to 43.5% in 2022, according to a study published Thursday by the country's poverty analysis agency.

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