Comment Re:Unmatched Liquidity (Score 1) 26
Right now the drive to diversify is entirely political.
Ok great you hate Trump, congrats.
The FACT is that there is no serious alternative to the USD as a reserve currency.
The currencies mentioned (euro, yuan) are indeed probably the closest in a basically empty field.
The yuan is controlled by a deeply dishonest tyrannical government that hasn't authentically reported financial information for decades. The EU is an anti democratic talking shop that can't manage to stand up a coast guard, much less manage a monetary policy.
Don't get me wrong, there are major, major issues with how the US handles economics. Inter party vacillations every 4 years. Dishonesty about inflation or economic data when it's politically inconvenient. But to the point of real-world contexts critical to underpin faith in a currency, the US remains economically dominant, more militarily secure than all others, and well supplied with food, water, oil, and raw materials.