Bitcoin Forum

Considering it's the main global and reserve currency of the world, what needs to be done to make sure it's not abuse by those with the privilege to control it? How do we prevent a situation where the dollar reserves of other nations are seized by the privileged few for whatever reason since they are owned by nations rather than individuals? How do we prevent them from weakening its value through over printing or printing more than is needed? There are other abuses that need to be prevented, and one of the most effective ways to do this is to encourage nations with reserves in dollars to check and balance the activities of those who control the currency.  They shouldn't print more currency without the consent of other nations and without being very transparent otherwise they will lose their positions and be replaced with responsible people. There is a point in time when stakeholders in businesses should determine how the businesses are run and the right rules that govern them otherwise why allow the stakeholders in the first place? Don't allow other nations to have dollar reserve if you don't need their consent in managing the currency.  This is particularly important since it's a national currency majority of nations rely on to shield them from weakening local currencies which are typically used for local transactions unlike dollars, it's tied to numerous assets globally and is better regulated than other currencies. If it fails the nations that heavily rely on it will crumble more easily. It should remain dominant currency for now until we find a better replacement.

To be continued...

The strength of the dollar or other currency for that matter should be proportional to the quantity and quality of products of the economies that depend on the Currencies. Higher amount of high quality products and high quality services = strongest currencies.