You do realize that Putin has seized assets Of foreign companies doing business in Russia and recently had the Duma pass a law to Nationalize those foreign assets?
You also do realize that it’s not just America seizing Russian assets?
None of that has to do with the world losing confidence in the U.S. Dollar.
No country wants to store its wealth in a currency that can be (and is) confiscated at the whim of the issuing country.
The American government seized $400 billion U.S. dollars from Russia. It made that money totally worthless to Russia.
Nobody wants a currency that can be made worthless overnight.
If nobody wants your currency, your currency is worthless.
The actions of the American government is in the process of making the U.S. Dollar worthless.
The value of the dollar has historically gone up and down, variance is to be expected.
I understand your concern - asset confiscation does have ramifications. What's the alternative? What other currencies can the world move to that don't have the same concerns or larger economic concerns that the dollar doesn't?
The world currency discussed earlier - what group of countries and their currency would replace the dollar at the same or stronger relative strength and what's it backed by?
