Why the US dollar is powerful and why gaddafi was right to want Africa to be one with one gold currecy,we would over power USA dollar, cos gold was standard trade currecy before A thread......

By the early 1970s,countries began demanding gold for their dollars to curb inflation. Rather than allow investors to deplete Fort Knox of all its gold reserves, President Nixon untied the dollar from gold. By that time, the dollar had become the world's dominant reserve currency

In essence,the dollar replaced the gold standard at this point. Most global contracts, especially those for oil, were denominated in dollars and they remain that way in 2019. Many large economies, such as China, Hong Kong, Malaysia, and Singapore, peg their currency to the dollar

When dollar weakens,so do the profits of their exporters.These countries also hold large deposits of US http://Treasurys.In  theory,they could sell their holdings nd cause a dollar collapse.However,wit export profits tied 2the strength of the dollar,that's nt benefiting them

The dollar declined during the 1970s, the early '80s, and from 1991 to 1993. During these declines, there were also forecasts of a dollar collapse. Many countries considered removing their currency pegs from the dollar.

But without a substitute for the dollar as a global currency, the countries kept their currencies pegged to the dollar, and a collapse did not happen.

@Kgomo389 @IndWorldThinker