Thank you for your well thought out reply, I appreciate it.
I still argue that using the dollar for country to country trade and commerce (where neither country is the USA) is in general not good for either country if they can negotiate a fair rate of exchange between their own currencies. This is letting market forces work as they should work. What we have in the USA with the Federal Reserve is far from free market capitalism (source: Katherine Austin Fitts (solari.com), and I agree with her - she compares our current system to Soviet era style central planning).
There are trading blocks that are increasingly trading in their own currencies and in a few cases there is not much my country (USA) can do about it. Recently there have been large trade and cooperation deals between China and Russia and I would bet that they will not be using the US dollar, similar to the BRIC (Brazil, Russia, India and China) trading block.
Unless anyone mistakes me for a pessimist, I think the long term outlook for the USA is pretty good. Our advantages are great natural resources and relative geographic isolation. In the future after we adjust to much of the trade in the world not denominated in the US dollar, I wouldn't be surprised if we don't end up in good shape again like we were in the 1990s.
I still argue that using the dollar for country to country trade and commerce (where neither country is the USA) is in general not good for either country if they can negotiate a fair rate of exchange between their own currencies. This is letting market forces work as they should work. What we have in the USA with the Federal Reserve is far from free market capitalism (source: Katherine Austin Fitts (solari.com), and I agree with her - she compares our current system to Soviet era style central planning).
There are trading blocks that are increasingly trading in their own currencies and in a few cases there is not much my country (USA) can do about it. Recently there have been large trade and cooperation deals between China and Russia and I would bet that they will not be using the US dollar, similar to the BRIC (Brazil, Russia, India and China) trading block.
Unless anyone mistakes me for a pessimist, I think the long term outlook for the USA is pretty good. Our advantages are great natural resources and relative geographic isolation. In the future after we adjust to much of the trade in the world not denominated in the US dollar, I wouldn't be surprised if we don't end up in good shape again like we were in the 1990s.