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[–]restlessincanada 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (3 children)

i also worry about this, it not good for the US dollar or any nation that uses it as their reserve currency if nations like Russia and China move away from it. there is some talk that these sanctions could push russia towards a gold standard, not sure how likely that is but i dont like the uncertainty that this is creating.

[–]filbs111 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

That should reduce the extent to which the US Fed can get away with debasing the currency. Every cloud has a silver lining!

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

Russia has been on the gold standard since at least 2016.

[–]restlessincanada 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

i think that right now the US dollar is the reserve currency worldwide. but there has been talk of russia and others moving away from the dollar and towards gold and other foreign currency.