The US manufacturing sector and world-leading technology used to be ample support for a strong dollar. No more. The dollar’s value is being sustained by inertia and habit.
Maybe there’s more than habit at play. Maybe a not-so-subtle message is being broadcast that if you provide alternatives to our $$ we break-a youz-a kneecaps.
It’s easy to see this pattern in the overthrow of the Libyan & Bolivian governments & attempted coup in Venezuela and the hostility to Russia, China, and Iran. Is it a stretch to imagine that the Wuhan Coronavirus is a bioweapon aimed as a warning against Chinese plans to create a world-class currency?
The DCEP, still planned for launch in 4Q2020, will be (1) backed by gold, (2) supported by the world’s largest manufacturing economy, by far, and (3) so simple and convenient that anyone can pay for anything by scanning a QR code from a cell phone.