The world should fear El Salvador’s bizarre Bitcoin experiment
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> **There is very little chance of the dollar losing its crown as the global currency of choice any time soon.**
That depends on how much inflation there will be in the next few months. Russia could cut off oil and gas supplies to the EU, in the process boosting the **oil price to $500 per barrel**.
More inflation means more people and countries around the globe switching to alternatives. The switch away will itself further fuel inflation.
The only instrument that the Fed can deploy to counteract this trend, is to dramatically raise interest rates, which would in turn crash the stock market, sink real estate prices, and bankrupt lots of businesses and consumers. This collapse would itself soon become inflationary.
**I personally think that the dollar will be gone before the end of the year.**
It only depends on what Russia will do.
**Russia has the fate of the dollar in their hands.**
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