{"id":68169,"date":"2024-05-17T19:05:31","date_gmt":"2024-05-18T00:05:31","guid":{"rendered":"https:\/\/olduvai.ca\/?p=68169"},"modified":"2024-05-17T19:05:31","modified_gmt":"2024-05-18T00:05:31","slug":"why-the-dollar-will-lose-its-status-as-the-global-reserve-currency","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=68169","title":{"rendered":"Why the dollar will lose its status as the global reserve currency"},"content":{"rendered":"
\n
\n
\n
\n

Why the dollar will lose its status as the global reserve currency<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\n
\"\"<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\n
\n

By the early 400s, the Roman Empire was coming apart at the seams and in desperate need of strong, competent leadership. In theory, Honorius should have been the right man for the job.<\/p>\n

Born into the royal household in Constantinople, Honorius had been groomed to rule, practically since birth, by the finest experts in the realm. So even as a young man, Honorius had already accumulated decades of experience.<\/p>\n

Yet Rome\u2019s foreign adversaries rightfully believed Honorius to be weak, out of touch, divisive, and completely inept.<\/p>\n

He had entered into bonehead peace treaties that strengthened Rome\u2019s enemies. He paid vast sums of money to some of their most powerful rivals and received practically nothing in return. He made virtually no attempt to secure Roman borders, leaving the empire open to be ravaged by barbarians.<\/p>\n

Inflation was high. Taxes were high. Economic production declined. Roman military power declined. And all of Rome\u2019s foreign adversaries were emboldened.<\/p>\n

To a casual observer it would have almost seemed as if Honorius went out of his way to make the Empire weaker.<\/p>\n

One of Rome\u2019s biggest threats came in the year 408, when the barbarian king Alaric invaded Italy; imperial defenses were so non-existent at that point that ancient historians described Alaric\u2019s march towards Rome as unopposed and leisurely, as if they were \u201cat some festival\u201d rather than an invasion.<\/p>\n

Alaric and his army arrived to the city of Rome in the autumn of 408 AD and immediately positioned their forces to cut off any supplies. No food could enter the city, and before long, its residents began to starve.<\/p>\n

Historians have passed down horrific stories of cannibalism\u2013 including women eating their own children in order to survive.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Why the dollar will lose its status as the global reserve currency By the early 400s, the Roman Empire was coming apart at the seams and in desperate need of strong, competent leadership. In theory, Honorius should have been the right man for the job. Born into the royal household in Constantinople, Honorius had been […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[34439,34442,827,839,5482],"class_list":["post-68169","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-james-hickman","tag-schiff-sovereign","tag-united-states","tag-us-dollar","tag-world-reserve-currency"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68169"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68169\/revisions"}],"predecessor-version":[{"id":68170,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68169\/revisions\/68170"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}