USD will lose its status of being reserve currency? I am scared.

[bearexin]

I just came to know about this medium article after their daily digest hit my inbox. That article is talking about the economic slow down in America in coming years (fortunately not due to the current corona outbreak). I really scared of another economic world wide slow down. But, not sure how it will be reflecting to bitcoins.

America has its flaws. Countless books examine them, but they often conclude their grim analyses with a chapter on “how to make things better.” Rarely is the feasibility of these proposed solutions considered.
What if the flaws in our principal institutions, from Capitol Hill to the National Security apparatus to the Federal Reserve, are unfixable? What if they exacerbate one another, resulting in an unsolvable nightmare? Is the reality that America has already begun its irreversible decline, after only 250 years, staring us in the face?
All empires fall, after all. It’s just a matter of time before America goes the way of Rome.
In 2014, a study partly funded by NASA warned that global industrial civilization could implode in the near future.
The fall of the Roman Empire, and the equally (if not more) advanced Han, Mauryan, and Gupta Empires, as well as so many advanced Mesopotamian Empires, are all testimony to the fact that advanced, sophisticated, complex, and creative civilizations can be both fragile and impermanent.
Excess resource extraction and unequal wealth distribution were crucial to every civilizational collapse of the past 5,000 years. Privileged elites rapaciously exploited the environment and labor while shielding themselves from the consequences. The lives of commoners ultimately descended into chaos, creating a destructive vacuum that obliterated the foundational pillars of society.
Excess resource extraction. Unequal wealth distribution. Are these not the problems currently plaguing America, and for which there are few proposed solutions? Expecting our notoriously venal politicians or our overworked, heavily distracted citizenry to resolve these issues is absurd. Identity politics, among other things, has stifled our ability to unite and address imminent dangers.
In 2008, Thomas Fingar, former Chairman of the National Intelligence Council, stated that US global leadership will “rapidly deteriorate in political, economic, and arguably cultural arenas.” NIC’s Global Trends 2030 says that in the coming decades the US will be mired in internal crises as a result of low economic growth. Despite the cheery optimism of America’s politicians, the Intelligence community seems certain that ticking debt-bombs and social instability will mightily diminish America’s global standing.

Are we closer to Rome than we think?
Morris Berman’s trilogy on the American Empire and William Ophuls’ Immoderate Greatness: Why Civilizations Fail offer astute analyses on why America’s problems are irreparable and reminiscent of past empires. I’ll briefly explain why America is “down for the count” for those unwilling to read the books.
1) The era of U.S. Dollar hegemony is coming to an end
In 1944, the Allied Powers constructed the post-war monetary order at the Bretton Woods Conference in New Hampshire. Because America had cemented itself as the world’s preeminent superpower, it was agreed that the U.S Dollar would officially be the global reserve currency (it had unofficially held this status since 1925). The bulk of international transactions would now be conducted in U.S. Dollars. The world’s central banks would also hold massive quantities of USD. As of today, the U.S. Dollar constitutes 60% of global reserves and 80% of global payments.
According to Global Trends 2030:
Historically, US dominance has been buttressed by the dollar’s role as the global reserve currency. The fall of the dollar as the global reserve currency…would be one of the sharpest indications of a loss of US global economic position, equivalent to the sterling’s demise as the world’s currency, contributing to the end of the British Empire in the post-World War II period.
Simply put, the current monetary system allows America to pay for goods and services with printed dollars. If other countries printed giant sums of their money to buy imports, their currency’s value would crash on the foreign exchange market. Because the USD’s reserve currency status creates an unlimited demand for dollars, America has been merrily churning the printing presses to bolster its military and buy foreign goods.
All of the “Made in _______” goods being sold at American retailers, as well as American made products using imported materials, should be 2–5x more expensive than they are now. The US runs trade deficits with virtually every country in the world. Other countries give us goods and we give them printed money. That the U.S has spent the past century debasing its currency is obvious; the prices of everyday goods are more expensive than in the 1950’s by several orders of magnitude.
The US Dollar is not the world’s first reserve currency, nor will it be the last.

The average reserve currency length is 95 years. That the U.S dollar will lose its status as the global reserve currency is unavoidable. This will lead to Americans paying much higher prices for imports. The federal government will downsize drastically. No longer will massive yearly deficits be run.
When we can no longer pay our deficits with printed dollars, the 1 in 5 Americans who receive federal aid will see giant reductions in their benefits. Government employees will be fired en masse. Pensioners will receive a fraction of what they’re owed. This, of course, will be happening as our currency is plummeting on the foreign exchange market. Chaos will erupt in the streets. This day is rapidly approaching because…
2) The U.S. is only a few years away from another financial crisis
In 1998, Wall Street bailed out a hedge fund called Long-Term Capital Management to prevent a meltdown of the global financial system. In 2008, the world’s central banks bailed out Wall Street. What’s going to happen when central banks need to be bailed out?
Since 2008, they have printed over 12 trillion dollars to prop up the financial system. They’ve engendered monstrous speculative bubbles in stocks, bonds, and real estate. Donald Trump’s presidency, Brexit, and the rise of the European Far-Right are, in part, responses to Western nations buoying our broken monetary system at the expense of the general public.
James Rickards’ The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis details how the international monetary system is more unstable and disaster-prone than ever. Unprecedented levels of risk and criminality exist within it. The world’s governments, corporations, and citizens have never been this indebted. Once the global economy slows and debt-bombs begin exploding, the world’s Central Banks will be printing obscene amounts of money in an attempt to mitigate the damage. Their efforts will prove futile as citizens rush to hard assets to preserve their wealth.
Out of necessity, the global monetary system will be reconstructed. The International Monetary Fund’s Special Drawing Right (SDR) will supplant the U.S Dollar as the world’s reserve currency.
3) America no longer even remotely resembles what the founders envisioned
It’s remarkable how prescient our Founding Fathers were about America’s current predicament. They were keenly aware of man’s tyrannical impulses and the usurious nature of banks. They knew once the American public favored idols and indulgences over liberty, prudence, and goodwill, their leaders would follow suit. It’s shocking how far the country has deviated from what it originally was.
Whereas America used to embrace self-sufficiency and limited Federal governance, it is now a profligate, warmongering police state. Those who have suffered at the hands of our imperialistic wrath are still seething. In 2010, a military-grade, Russian attack virus was found in the NASDAQ operating system. Admiral Michael S. Rogers, head of the NSA, recently stated, “It’s only a matter of [time when] you are going to see a nation state, a group, or an actor engage in destructive behavior against critical infrastructure of the United States.”
Retaliation against our militarism abroad will soon destroy the nation.
The splintering of a civilization doesn’t happen overnight; it’s a gradual process. By now, it should be clear that we’re in this process, but the U.S. propaganda juggernaut has duped Americans into believing, “Once candidate X gets elected, everything will be OK!”
Often, it’s the vastness and complexity of empires that conspire against them. Resources are exhausted managing novel crises. Once the elites realize the structural problems are intractable, they pillage the society before others are aware of its inevitable dissolution.
From now on, please consider that America’s problems are of a civilizational nature. Circumstances here will likely get much worse until the country self-destructs.

Code: (Link to article)

https://medium.com/vandal-press/3-reasons-why-america-is-about-to-end-138b1e18bcf4

[jackg]

Have you got a stake in the dollar?

The other world reserve currencies are still doing pretty well after no longer being considered a world reserve currency. It may even flip between euro and dollar or another currency (yen or yuan)... I don't think it's delisting of being a world reserve currency would mean much.

I don't know how inflation is tracked there but both here and the US its targeted to hit 1.7% and that number is determined here by both the central bank and the office of national statistics in different ways.

[exstasie]

I just came to know about this medium article after their daily digest hit my inbox. That article is talking about the economic slow down in America in coming years (fortunately not due to the current corona outbreak). I really scared of another economic world wide slow down. But, not sure how it will be reflecting to bitcoins.

Just a comment on the numbers: 1925 seems arbitrary. If I were to put a year on the pound's downfall I would say 1931, when Britain dropped the gold standard for good. Even then, things were in flux during the entire interwar period and arguably there was no real stability about a global reserve until WWII was over and the Bretton Woods system put the US in the dominant position.

So if you're going just off the law of averages, it may be significant if the USD has only been the global reserve for 76 years. On average, that gives it another 19 years and it shouldn't be surprising if it goes another 30 (based just on those numbers).

These things are completely unpredictable. It's impossible to know which crisis will break the camel's back. It always seems imminent when a crisis is happening but the reality is we go from crisis to crisis for decades and decades before any real change occurs. And even then, the transition from one global reserve to another can take decades, as it did between the GBP and USD between WWI and WWII.

[FanatMonet]

Countries can experience prosperity, and after that experience sunset, it has been so many times. It also happens with currencies, while the influence of the country allows their currency to occupy a dominant position, they will use it to their advantage. But to keep this priority is very difficult.

[jackg]

Countries can experience prosperity, and after that experience sunset,

I'd call it more an afternoon or a plateu rather than an actual decline. Most of Europe that have been the standard have remained pretty prosperous for the past (almost) thousand years.

A lot of the main riches of europe still reside in the UK, France, the Netherlands, Germany, Italy (the UK and Italy were both initially prosperous due to The Holy Roman Empire and both are still doing pretty well).

UK's gdp per capita is very close to the US, ratio is currently ~7:5.

[squatz1]

Have you got a stake in the dollar?

The other world reserve currencies are still doing pretty well after no longer being considered a world reserve currency. It may even flip between euro and dollar or another currency (yen or yuan)... I don't think it's delisting of being a world reserve currency would mean much.

I don't know how inflation is tracked there but both here and the US its targeted to hit 1.7% and that number is determined here by both the central bank and the office of national statistics in different ways.

+1 to that.

I also think we're in a bit of a different time now. The US has its superpower status because of its econonomic and military control of the world. If the US doesn't like a certain country, they'd go ahead and tell their banks to not interact with them. Do you think that's going to work well for the country? No. The US is the financial capital of the world, and can cut off a country from money and cripple them from the inside -- this is one of the reasons that sanctions work to cripple a nation.

Then the military power of the US isn't in invading your country. It's in protection. The US has bases in most countries around the world and is able to either protect these countries from something OR employ locals. Which is pretty big leverage in an area which is economically depressed.

USD isn't going to lose reserve status, and even if it does it doesn't mean anything.

[Darker45]

What are you scared about it particularly? It has been shifting from one fiat currency to another over the past centuries. Well, the world's power is shifting from one country to another that is why. But I don't think the US will lose its superpower spot at number one anytime soon, unless it will have a successive breed of leaders who will lead the nation, one after another, plunging it into utter oblivion. So far, however, it seems it is not losing it. And, this far, out of the 8 world's reserve currencies recognized by the IMF, the USD is still the main player, enjoying almost 60% of the world's reserves.^[1]

[1] https://www.americanexpress.com/us/foreign-exchange/articles/could-dollar-be-replaced-as-world-reserve-currency/

[jseverson]

I don't think there's a possibility of the USD losing reserve currency status anytime soon. It's certainly possible for it to lose its status as the primary reserve currency, but something has to replace it, and potential usurpers haven't been doing too hot either.

The article does mention that USD comprises around 60% of the global reserves (as of 2019), but what it doesn't mention is that it's still leagues higher than the next one in line, EUR, which sits at around 20%. You might think Yuan would be a contender, but it only accounts for 1.96% of the total. Things could still change, and I believe it's only a matter of time, but I don't think there will be a groundbreaking shake up in the foreseeable future.

[abhiseshakana]

I don't think there's a possibility of the USD losing reserve currency status anytime soon. It's certainly possible for it to lose its status as the primary reserve currency, but something has to replace it, and potential usurpers haven't been doing too hot either.

The article does mention that USD comprises around 60% of the global reserves (as of 2019), but what it doesn't mention is that it's still leagues higher than the next one in line, EUR, which sits at around 20%. You might think Yuan would be a contender, but it only accounts for 1.96% of the total. Things could still change, and I believe it's only a matter of time, but I don't think there will be a groundbreaking shake up in the foreseeable future.

Besides the reasons above there are three other reasons why the dollar cannot be shifted as an international currency, and there is a belief that fiat and the dollar will be destroyed.

Three reasons for the difficulty of shifting the dollar as an international currency:

1. The world hegemon power (the capitalists)  will do everything they can to make their wealth eternal and lock up its hegemony forever in any way. from colonialism to the bio-technological war.

2. As long as the bank with its interest system remains practiced, there will be a gap for the capitalists to take control of the freedom of other people and the sovereignty of a country. Because this practice makes money super important, not just as an economic lubricant or greasing economy.

3. Besides dominating currencies, America still dominates the military. In recent decades America has lost trade dominance and financial domination which is now controlled by China with its torch program. The American military can not be reduced, please look for data on the number of countries in the world and please look for data on the number of American military bases in the world with almost 800 numbers. Even now America is preparing a program of space military forces.

[Gozie51]

Countries can experience prosperity, and after that experience sunset, it has been so many times. It also happens with currencies, while the influence of the country allows their currency to occupy a dominant position, they will use it to their advantage. But to keep this priority is very difficult.

That is the effect of change which is constant as it is said. Apart from the currency domination, I think this covid-19 issue will cause another change. Change of world dominance because some countries are still struggling to curtail their covid-19 cases while some are already up.

[Lucius]

bearexin, you should stop reading articles which trying to compare the Roman Empire and its downfall with the collapse of the US dollar. That article looks more like a screenplay for an apocalyptic movie, and here are just a few quotes :

1. "All empires fall, after all. It’s just a matter of time before America goes the way of Rome. In 2014, a study partly funded by NASA warned that global industrial civilization could implode in the near future."

2. "Government employees will be fired en masse. Pensioners will receive a fraction of what they’re owed. This, of course, will be happening as our currency is plummeting on the foreign exchange market. Chaos will erupt in the streets. This day is rapidly approaching because…"

3. "Those who have suffered at the hands of our imperialistic wrath are still seething. In 2010, a military-grade, Russian attack virus was found in the NASDAQ operating system. Admiral Michael S. Rogers, head of the NSA, recently stated, “It’s only a matter of [time when] you are going to see a nation state, a group, or an actor engage in destructive behavior against critical infrastructure of the United States.”

I'm not from the USA, so someone doesn't think I'm justifying their policies in some way, but I personally think the Euro will collapse before the US dollar. America will defend its interests and its national currency until the very last man, and the EU is very weak and divided on this issue. When things go downhill (as is currently the case) each country is actually left to take care of itself, and to seek help elsewhere.

[Wenbing]

I just came to know about this medium article after their daily digest hit my inbox. That article is talking about the economic slow down in America in coming years (fortunately not due to the current corona outbreak). I really scared of another economic world wide slow down. But, not sure how it will be reflecting to bitcoins.

America has its flaws. Countless books examine them, but they often conclude their grim analyses with a chapter on “how to make things better.” Rarely is the feasibility of these proposed solutions considered.
What if the flaws in our principal institutions, from Capitol Hill to the National Security apparatus to the Federal Reserve, are unfixable? What if they exacerbate one another, resulting in an unsolvable nightmare? Is the reality that America has already begun its irreversible decline, after only 250 years, staring us in the face?
All empires fall, after all. It’s just a matter of time before America goes the way of Rome.
In 2014, a study partly funded by NASA warned that global industrial civilization could implode in the near future.
The fall of the Roman Empire, and the equally (if not more) advanced Han, Mauryan, and Gupta Empires, as well as so many advanced Mesopotamian Empires, are all testimony to the fact that advanced, sophisticated, complex, and creative civilizations can be both fragile and impermanent.
Excess resource extraction and unequal wealth distribution were crucial to every civilizational collapse of the past 5,000 years. Privileged elites rapaciously exploited the environment and labor while shielding themselves from the consequences. The lives of commoners ultimately descended into chaos, creating a destructive vacuum that obliterated the foundational pillars of society.
Excess resource extraction. Unequal wealth distribution. Are these not the problems currently plaguing America, and for which there are few proposed solutions? Expecting our notoriously venal politicians or our overworked, heavily distracted citizenry to resolve these issues is absurd. Identity politics, among other things, has stifled our ability to unite and address imminent dangers.
In 2008, Thomas Fingar, former Chairman of the National Intelligence Council, stated that US global leadership will “rapidly deteriorate in political, economic, and arguably cultural arenas.” NIC’s Global Trends 2030 says that in the coming decades the US will be mired in internal crises as a result of low economic growth. Despite the cheery optimism of America’s politicians, the Intelligence community seems certain that ticking debt-bombs and social instability will mightily diminish America’s global standing.

Are we closer to Rome than we think?
Morris Berman’s trilogy on the American Empire and William Ophuls’ Immoderate Greatness: Why Civilizations Fail offer astute analyses on why America’s problems are irreparable and reminiscent of past empires. I’ll briefly explain why America is “down for the count” for those unwilling to read the books.
1) The era of U.S. Dollar hegemony is coming to an end
In 1944, the Allied Powers constructed the post-war monetary order at the Bretton Woods Conference in New Hampshire. Because America had cemented itself as the world’s preeminent superpower, it was agreed that the U.S Dollar would officially be the global reserve currency (it had unofficially held this status since 1925). The bulk of international transactions would now be conducted in U.S. Dollars. The world’s central banks would also hold massive quantities of USD. As of today, the U.S. Dollar constitutes 60% of global reserves and 80% of global payments.
According to Global Trends 2030:
Historically, US dominance has been buttressed by the dollar’s role as the global reserve currency. The fall of the dollar as the global reserve currency…would be one of the sharpest indications of a loss of US global economic position, equivalent to the sterling’s demise as the world’s currency, contributing to the end of the British Empire in the post-World War II period.
Simply put, the current monetary system allows America to pay for goods and services with printed dollars. If other countries printed giant sums of their money to buy imports, their currency’s value would crash on the foreign exchange market. Because the USD’s reserve currency status creates an unlimited demand for dollars, America has been merrily churning the printing presses to bolster its military and buy foreign goods.
All of the “Made in _______” goods being sold at American retailers, as well as American made products using imported materials, should be 2–5x more expensive than they are now. The US runs trade deficits with virtually every country in the world. Other countries give us goods and we give them printed money. That the U.S has spent the past century debasing its currency is obvious; the prices of everyday goods are more expensive than in the 1950’s by several orders of magnitude.
The US Dollar is not the world’s first reserve currency, nor will it be the last.

The average reserve currency length is 95 years. That the U.S dollar will lose its status as the global reserve currency is unavoidable. This will lead to Americans paying much higher prices for imports. The federal government will downsize drastically. No longer will massive yearly deficits be run.
When we can no longer pay our deficits with printed dollars, the 1 in 5 Americans who receive federal aid will see giant reductions in their benefits. Government employees will be fired en masse. Pensioners will receive a fraction of what they’re owed. This, of course, will be happening as our currency is plummeting on the foreign exchange market. Chaos will erupt in the streets. This day is rapidly approaching because…
2) The U.S. is only a few years away from another financial crisis
In 1998, Wall Street bailed out a hedge fund called Long-Term Capital Management to prevent a meltdown of the global financial system. In 2008, the world’s central banks bailed out Wall Street. What’s going to happen when central banks need to be bailed out?
Since 2008, they have printed over 12 trillion dollars to prop up the financial system. They’ve engendered monstrous speculative bubbles in stocks, bonds, and real estate. Donald Trump’s presidency, Brexit, and the rise of the European Far-Right are, in part, responses to Western nations buoying our broken monetary system at the expense of the general public.
James Rickards’ The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis details how the international monetary system is more unstable and disaster-prone than ever. Unprecedented levels of risk and criminality exist within it. The world’s governments, corporations, and citizens have never been this indebted. Once the global economy slows and debt-bombs begin exploding, the world’s Central Banks will be printing obscene amounts of money in an attempt to mitigate the damage. Their efforts will prove futile as citizens rush to hard assets to preserve their wealth.
Out of necessity, the global monetary system will be reconstructed. The International Monetary Fund’s Special Drawing Right (SDR) will supplant the U.S Dollar as the world’s reserve currency.
3) America no longer even remotely resembles what the founders envisioned
It’s remarkable how prescient our Founding Fathers were about America’s current predicament. They were keenly aware of man’s tyrannical impulses and the usurious nature of banks. They knew once the American public favored idols and indulgences over liberty, prudence, and goodwill, their leaders would follow suit. It’s shocking how far the country has deviated from what it originally was.
Whereas America used to embrace self-sufficiency and limited Federal governance, it is now a profligate, warmongering police state. Those who have suffered at the hands of our imperialistic wrath are still seething. In 2010, a military-grade, Russian attack virus was found in the NASDAQ operating system. Admiral Michael S. Rogers, head of the NSA, recently stated, “It’s only a matter of [time when] you are going to see a nation state, a group, or an actor engage in destructive behavior against critical infrastructure of the United States.”
Retaliation against our militarism abroad will soon destroy the nation.
The splintering of a civilization doesn’t happen overnight; it’s a gradual process. By now, it should be clear that we’re in this process, but the U.S. propaganda juggernaut has duped Americans into believing, “Once candidate X gets elected, everything will be OK!”
Often, it’s the vastness and complexity of empires that conspire against them. Resources are exhausted managing novel crises. Once the elites realize the structural problems are intractable, they pillage the society before others are aware of its inevitable dissolution.
From now on, please consider that America’s problems are of a civilizational nature. Circumstances here will likely get much worse until the country self-destructs.

Code: (Link to article)

https://medium.com/vandal-press/3-reasons-why-america-is-about-to-end-138b1e18bcf4

Great analysis.
The downfall of one is the uprising of others. Well, I see the People Republic of China taking that first economic position due to the friction being created by coronavirus disruption.

[fiulpro]

I do think that they did loose the value of USD when the new president was appointed .
Governments can be everything but they should not be selfish , corrupt , racist and using their power towards their own personal opinions .
One is entitled to change and being flexible is one of the things that makes you survive all the situations .
I do think it is a good reminder for US to start exploiting the developing countries and essentially strengthen their manufacturing .
Time will heal everything but one needs to pick their leaders carefully because it is in the time of crisis one regrets the 1 vote they foolishly gave.

[kawetsriyanto]

I do think that they did loose the value of USD when the new president was appointed .

What do you mean? I don't really understand this statement, I think you need to explain it more.
I know that a president will have a big role to decide everything, including the policy on financial sector. But it doesn't depend on the president only, there are too many factors to affect the current condition dollar. The rise of China's economy, declining trust in dollars, or other external factors also contribute in this problem.

[Lorence.xD]

I do not think that the dollar will lose its value as a reserved currency anytime, there are more factors to be considered if this will ever happen. Remember, all countries have a reserved dollar in their disposal so that will mean that there will be a lot of countries that will try to prevent the event. Maybe the time that the dollar will lose its ability to become a reserved currency is the time when the cryptocurrency industry takes over its competitor fiat completely and also that the prices of cryptos are stable and volatile proof. I also think that there might be reasons that the current administration is responsible for possibility that the dollar will lose its value but that is too minscule that it is not enough to affect it.

[TheGreatPython]

If you're afraid that the US dollar will lose its status as the world reserve currency, then you should consider other currencies and form of investments.

As for Bitcoin, I strongly believe that Bitcoin would still be good even if the USD should fall. I do hold some of my money as dollar investments, but that's not the only place I put my money, I am fond of diversifying my investments, although sometimes it doesn't really work out, but I still like the idea of doing that because it's always a way that you can escape things like these at times. You should invest in Bitcoin and look for other assets like gold and invest in them.

[dothebeats]

There is a huge possibility for this to happen, as most reserve currencies in the past only experienced quite a century of glory before reverting back to their status as a normal currency. Even so, just look at GBP for example. Still holds quite a value and footing in the world economy albeit having experienced some controversies as of late (talk about Brexit for example). If there will be a shift on the world's reserve currency in the near future, it won't hurt USD that much in terms of value IMO; just not that being widely used anywhere around the world. CNY and EUR are great contenders, with CNY taking the lead currently (and, well, taking advantage of the situation) as China's economy remain operational as to this day.

[stompix]

History has its way of repeating itself, but not the way you anticipate it.

I love how almost all analyst draw lines between the current US and the fall of ancient empires.

The fall of the Roman Empire, and the equally (if not more) advanced Han, Mauryan, and Gupta Empires, as well as so many advanced Mesopotamian Empires, are all testimony to the fact that advanced, sophisticated, complex, and creative civilizations can be both fragile and impermanent.

Let's see:
- Roman empire, under constant invasion by nomadic people for 2 centuries since Diocletian retreated from most of the lands he could not defend anymore
- Han, do you see Jared stabbing Trump in the back and Ivanka poisoning Pence?  
- Mauryan, common that was just a name change
- Gupta empire, the same fate as the roman, constant nomadic invasion...

So, who is going to invade and crumble the US military?  

The Roman Empire was never able to take the battle back to the nomadic tribes, they were invading from well beyond the borders and there was no way to deal with them with the current technology. Had the roman empire invented trains and transport planes I have a feeling history would have not been the same. This is the main problem with all those approaches from ancient history, the empires didn't have the means to fight back the efficiently continuous wave of invaders who were ransacking and pillaging and killing entire provinces.

Who is going to do that to the US?

Stop trying to anticipate the fall of the US, it's almost 40 years since I had to put on a nice patriotic costume and I was parading on May 1st and hearing all the stories how the US and capitalism will die...Almost all of those that predicted it will happen soon are already dead, probably I'll go to the grave before that happens and probably my kid won't see it either.
If you want to see a clear picture of what is going to happen you must leave the hate aside, blinded by your wish for destruction you will always feel like the end is coming, when fortunately for everybody, it has lost another train  

[abhiseshakana]

bearexin, you should stop reading articles which trying to compare the Roman Empire and its downfall with the collapse of the US dollar. That article looks more like a screenplay for an apocalyptic movie, and here are just a few quotes :

1. "All empires fall, after all. It’s just a matter of time before America goes the way of Rome. In 2014, a study partly funded by NASA warned that global industrial civilization could implode in the near future."

2. "Government employees will be fired en masse. Pensioners will receive a fraction of what they’re owed. This, of course, will be happening as our currency is plummeting on the foreign exchange market. Chaos will erupt in the streets. This day is rapidly approaching because…"

3. "Those who have suffered at the hands of our imperialistic wrath are still seething. In 2010, a military-grade, Russian attack virus was found in the NASDAQ operating system. Admiral Michael S. Rogers, head of the NSA, recently stated, “It’s only a matter of [time when] you are going to see a nation state, a group, or an actor engage in destructive behavior against critical infrastructure of the United States.”

I'm not from the USA, so someone doesn't think I'm justifying their policies in some way, but I personally think the Euro will collapse before the US dollar. America will defend its interests and its national currency until the very last man, and the EU is very weak and divided on this issue. When things go downhill (as is currently the case) each country is actually left to take care of itself, and to seek help elsewhere.

History has proven, the glory of a nation was twisted between East and West, starting with the Qibti (East), the Greeks (West), the Farsi (East), the Romans (West), then the Arabs (East), and now America ( West) which is declining its influence day by day. If this east-west arrangement is followed, the turn of the nation that will rule the world now is the nation from the East. Whether it's China or Islamic power from Southeast Asia.

All empires eventually collapsed: Akkad, Sumer, Babylon, Nineveh, Assyria, Persia, Macedonia, Greece, Carthage, Rome, Mali, Songhai, Mongols, Tokugawa, Gupta, Khmer, Habsburg, Inca, Aztec, Spanish, Dutch, Ottoman, Austria, France, Britain, the Soviet Union.

Most of them collapsed in a matter of one to two hundred years. An empire is like a state system which inevitably makes the same mistakes only by the structural nature of their imperialism. They fail because of size, complexity, regional reach, stratification, heterogeneity, dominance, hierarchy, and inequality. Not yet one American decade emerged as the strength of the American empire showing its collapse.

Like a system, empires also experience a life cycle. Starting from the seed, until the fall or death. Johan Galtung in "On the Coming Decline and Fall of the US Empire" explains the United States is experiencing an aging phase, with an abundance of control tasks.

Unfair exchange patterns of the four dimensions of power (economic, political, military, and cultural): have caused resistance that cannot be restrained anymore. Through complications from various contradictions that are followed by demoralization experienced by the elite empire. So far, America has utilized economic power manifested by the international capitalist system, military power with international militarism, political power with international hegemony, and cultural power with international missionaries.

Hypercapitalism destroys nature, military intervention breeds resistance, hegemony ignites the longing for autonomy and sovereignty, while missionary with exceptionalism stimulates the rise of old identities or the emergence of new identities. So, this is where the American empire has decreased.

When domestic and global financial market turnover is high, while real economic growth is slow and distribution is low, there will be a high accumulation of liquidity trying to find outlets. An outlet on financial economics is speculation.
Outlet responded by creating a virtual company that made financial economic growth quickly lose synchronization with productive economic growth. The depreciation of the dollar is one indication of this chronic disease. The remedy for the disease is the distribution of a system that has been blocked by the US empire, through the World Bank, the IMF, and the WTO. The absence of drugs will result in an increase in the value of financial products and eventually lead to new crashes.

http://www.ncveteransforpeace.org/issues/Empire_Falling.pdf

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All empires eventually collapsed: Akkad, Sumer, Babylon, Nineveh, Assyria, Persia, Macedonia, Greece, Carthage, Rome, Mali, Songhai, Mongols, Tokugawa, Gupta, Khmer, Habsburg, Inca, Aztec, Spanish, Dutch, Ottoman, Austria, France, Britain, the Soviet Union.

First, Nineveh was the capital of the Assyrian empire, second Tokugawa was not an empire and it was actually replaced by the Japanese Empire, so next time pay more attention.

Third, look at the last examples you're giving to make your claim.

Spanish, Dutch, Ottoman, Austria, France, Britain

All the countries are still there, the core of the former empire is still there, so doing the same for the US, what will fail if the US is still standing like a country within the same borders?

Hypercapitalism destroys nature

So, if you're that concerned about the evil doings of capitalism, why are you a fan of bitcoin when bitcoin is pure capitalism?  

The depreciation of the dollar is one indication of this chronic disease.

What depreciation?