FX Empire: The Global Collapse of Paper Money - Part 2
Since its divorce from the gold standard the dollar has been unstable and floating. It has been mercilessly printed and driven down in value as the US has repeatedly swiped its national credit card and embarked upon a deficit spending spree. With the world monetary system hinging on the stability of the dollar, world currencies have been confronted with varying degrees of crisis and collapse as the dollar has been manipulated and debased.
More than 60 percent of the world’s monetary reserves are currently held in US dollars. This emphasizes the wide-reaching influence of US monetary policy. The Fed’s recent rounds of stimulus, for example, initially propped up emerging markets before it completely decimated them. Emerging economies currently struggle with inflation, plunging valuation, debt, and mass sell-offs.