The US dollar will plummet! How Bitcoin blockchain and Ripple will murder the US dollar

The dollar has ruled the financial world longer than most of us have been alive. Most of us know that the earth revolves around the sun and the sun revolves around the dollar. For decades, all nations of the world have been forced to be subordinate to this Western hegemony, and the United States has been living on unlimited credit since World War II.

But a new economic reality show is about to begin, built on technological innovations like Bitcoin’s blockchain and new proprietary tools like Ripple. These protocols will spur changes to the world’s monetary system that, frankly, are long overdue for an update. The American Empire will not stay the same forever.

Fools and the privileged may end up blaming “blockchain”

First things first, I gave this article this title for a reason. The dollar is going to crash, and it will crash regardless of whether these new technologies are implemented or not.

In the future, when the US dollar steps down from its global dominance, some privileged classes may complain about this emerging digital currency technology. But this behavior is very unwise.

The country that all countries in the world respect, hate and fear is the United States. The United States creates the world's top entertainment, introduces and cultivates the world's top technology, produces the world's most powerful military force and controls the "global reserve currency". It is a veritable global hegemon.

This has led to US military bases in almost every country in the world, and central banks of countries around the world holding large amounts of US dollars.

The other 190+ countries in the world would be only too happy to get rid of this "American Empire" or would be waiting to join others in overthrowing it. Like the Roman Empire, all empires will collapse.

Who wouldn’t like and trust the US dollar?

The U.S. dollar is on a similar path of self-destruction. Its status as the world’s reserve currency has been shaken.

When a currency is chosen to mediate the international trade of all goods, such as steel, steel, military equipment, or oil (creating the petrodollar), it achieves global reserve currency status, which is the status of the US dollar today.

These hegemonies usually only last for a few generations, and then they will be reshuffled. The US dollar has successfully maintained this hegemony for more than 70 years. It is like a 70-year-old man, and it is not going to last long, and it is indeed so.

Whether or not the dollar is due to the Federal Reserve's "quantitative easing" policy, banks and governments have been buying up gold lately, and the Federal Reserve has been forced to buy its own Treasury bonds to back it up. Because no other country wants the dollar anymore, every nation is plotting, planning, and supporting the dollar's impending death, whether they say it publicly or not.

The dollar as a global reserve currency forces countries to hold and use dollars for international trade instead of their own currencies. This allows the United States to print trillions of dollars every year to pay for wars, foreign debts and other fiscally irresponsible behaviors.

Basically, it is a license to print money and abuse the global system, while it exports inflation to the rest of the world.

In exchange for exporting dollars, the United States receives the best goods and resources in the world.

As long as this system continues to exist, the US government can continue to go into debt without any serious consequences, and they have been abusing this system for decades.

Moreover, the US has not only been piling on debt, but it has also been recklessly squeezing the world’s banking system to do its bidding. The issuance of the Foreign Account Tax Compliance Act (FATCA) is a prime example of this.

The Foreign Account Tax Compliance Act is designed to tax foreigners working overseas (the United States is the only country in the world that does this), and they force other countries to actually enforce the law.

This has led to banks in other countries refusing to serve Americans because the amount of work and oversight required is too great. Everything the American does must be reported to US authorities, and if not, the bank is kicked out of the global banking system.

Basically, this is a backdoor to "capital controls": keeping US money in the US by regulating the citizens and this overseas country/bank.

What if you didn’t use dollars to transfer value? You could create a global digital system that does the same thing, but it’s faster and cheaper, and the U.S. can’t take a cut of it every time.

Now let’s introduce blockchain and Ripple. The world is ready for a better, 21st century way of doing business. Using the US dollar for international trade is like using a newspaper to get the latest news, but you are actually reading yesterday’s news today.

Banks and countries hope to use blockchain technology to process business faster, cheaper and more efficiently.

China: We have better ideas

China and its eternal friend Russia have been working together to build an economic system that can give the world an alternative to the US system (such as the US-controlled World Bank, the International Monetary Fund, and the SWIFT system).

China has established the BRICS Development Bank, the Asian Infrastructure Investment Bank (AIIB), and the Cross-Border Interbank Payment System (CIPS) to support their future endeavors without the need for high-pressure dollar or U.S. government pressure.

They have asked other countries if they want to join, and it has been widely accepted. In fact, China is also the world's largest exporter, gold producer, rare earth resource producer, and the world's second largest economy.

Breaking up the established Western hegemony is one side of the coin, so even the United States’ ally Britain has chosen to join China’s international economic activities and become a “fund member.”

Once China gets every country to join their "Silk Road", will China become a brutal global economic giant like the United States in the future? Maybe, but at least now they are kind masters, which seems much better than the United States.

China is already discussing the construction of its own digital currency. In January this year, the People's Bank of China held a seminar on digital currency in Beijing. Digital currency research experts from the People's Bank of China, Citibank and Deloitte discussed and exchanged views on topics such as the overall framework for the issuance of digital currency, national digital currency in the evolution of currency, and nationally issued cryptocurrency. This will greatly promote the development of the international economic and trade system.

There are new financial options, such as Ripple. Once the hottest new altcoin, Ripple has faded into obscurity, but now it looks like it will have a second life. Ripple's mission is to optimize larger financial transfers, such as transactions between banks rather than between individuals. Ripple has reached an agreement with a Japanese consortium of 15 banks to use their protocol for payments and settlements.

This will allow payments that might otherwise take days to be processed instantly, and has the potential to provide an alternative to the US SWIFT system, saving banks 90% in fees. Given that this is just a basic test, if successful, it could lead to other banks around the world following suit.

Clearly, there is a better way to handle international trade. Bitcoiners figured it out in 2009, and now the rest of the world is struggling to catch up.

Both the dollar and the US government have had their systems decimated by regulation, hubris, and stupid Keynesian central planning.

Why not ban cash all together? Why not force every transaction to go through the banking system so that the banks can track all transactions?

If this is decided by the banks and the government, then you are dependent on them for everything and are completely controlled financially and you cannot escape their clutches. Cash will no longer be an option because using cash gives you too much freedom and privacy, so they will plan to ban cash and they are doing so.

Cash is a good thing because it may be the last form of economic freedom and privacy we have, but all good things must come to an end, and many vested interests will soon see that day. There are not too many enemies for a variety of different reasons, both foreign and domestic, and these enemies seem to be ready for something new. Are you?

Blockchain and Ripple will not kill the dollar, but their advantages may be the last straw that breaks the camel's back. They represent a better economic model: faster, cheaper, peer-to-peer, without middlemen.

The dollar is dead, but not bankrupt. The only thing that supports this Treasury bond is consumer confidence and global faith in the dollar. Only Americans really want it, and they may get more than they bargained for.

If your bank lets you withdraw cash, you may want to withdraw your dollars now and invest in your financial future, which may not include cash or Western systems. Join China, Russia, and the rest of the world in preparing for what is coming.