Quote Originally Posted by lakedaemonian View Post

But you can’t have your cake and eat it too when it comes to disengagement and maintaining the exorbitant privilege of the global reserve currency.

Shifts in bilateral and multilateral network trade volumes are going to be interesting to watch to try and determine what currency/basket/commodity/crypto emerges next, or provides the bridge to get us there.
as i've said for years, i suspect the next step for the international monetary system will result in there no longer being A global reserve currency. instead we will have regionalized blocs, each with its major currency. how inter-bloc balances will be settled is unclear to me. i imagine the blocs will hold reserves of each others' currencies for this purpose.