r/wallstreetbets • u/abishop717 • 1d ago

Discussion 5 rate cuts 😮

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u/onpg 1d ago

That worked because we were the world reserve currency. Something our Dear Leader is working very hard to end.

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u/Syab_of_Caltrops Dirty HODLer 1d ago

What's going to replace it, a BRICS currency? The Euro?

I'm not denying there's pressure on the Petro Dollar and there are strong efforts to create an alternative, but all those alternatives are laughable, even conaidering the upheaval at the moment.

Humans love creaming doom and gloom, but it almost never come to pass.

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u/onpg 1d ago edited 1d ago

How old are you? Curious. They were laughable. Until this week.

Edit: well, until Trump won re-election actually. Because after that all of this was kind of inevitable.

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u/Syab_of_Caltrops Dirty HODLer 1d ago

Well out of college.

But seriously, in what word do middle eastern countries trade crude in Euros, or Western countries trade crude in a currency backed by China or Russia?

Even if they were open to it, it would take much longer than any of Trump's emergency provisions will last.

Dude's gone completely off the rails, but you're catastrophizing if you think that transition will happen any time soon. The long view on this is still fine. That can change, but right now we have no clue how things will shape up.

EDIT: If Inwas a betting man (and I am, this is WSB), I'd say a lot of this will be challeneged and over turned by courts. And, at that point, I think the Trump admin will see it as a relief and a way to get out of a very bad position they've put themselves in.

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u/onpg 13h ago

You make compelling points. Hard to say. The administration has really married themselves to tariffs. Admitting a mistake of this magnitude is worse than the Afghanistan pullout. But yeah, the most optimistic end to this is the admin gives up on it sooner than later.