‘Most U.S. banks are technically near insolvency, and hundreds are already fully insolvent,’
Bank-sector stress makes a stagflationary debt crisis more likely and potentially more severe.
https://www.marketwatch.com/story/most-u-s-banks-are-technically-near-insolvency-and-hundreds-are-already-fully-insolvent-roubini-says-18b89f92
The MW article is clearly labeled Opinion. It's one man's educated viewpoint that he supports with evidence, but it is by no means a foregone conclusion.
@scy it's going to be their individual currency like Brazil would deal in Yen and Brazilian Real with trade in China ditching the US $ for International trade. India is dealing with commodities such as Gold for Russian or Iranian Oil. The world is now divided among 2 groups .It would be interesting to see what US will offer extra to maintain the Global reserve currency status.
And what will they switch to, @mrx? The Chinese YEN? That would be laughable.
The World is going to ditch the Dollar as a Reserve currency status. US is abusing the great privilege that they had in terms of $ as a World currency. De- Dollarisation is going to be like a Tsunami . It's coming so fast that we can't even imagine how fast it is.