Monetary Debasement - What's Behind the Wizard's Curtain? : The Race to Replace the USD as a Global Currency

This paper explores recent events that have raised concerns about the United States' continued confidence, leadership, civil and democratic, monetary and financial system stability as a sustainable model for the international community.

The paper applies a mixed-method of analysis, incorporating numerous literature reviews and quantitative data supporting a central hypothesis.

This is presented as the current events, international actions, and confidence in the U.S. are reflected in the research. Given the evidence, this paper hypothesizes that an alternative global monetary and financial system will emerge that challenges the USDs dominance.

Given this statement, the paper makes several assumptions that international experts infer.

The literature reviewed presents sufficient evidence to argue (1) China is emerging as a country that possesses a superior advantage in fintech [1] [2]; and that (2) the growing distribution of China's sovereign (digital) currency (CNY) in trade and commerce are viewed by monetary, finance, and economic leaders and independent analysts as powerful instruments of change; and that, (4) these instruments are being rapidly deployed and implemented in the near-term.

The paper takes the assumptions that (1) the global COVID-19 pandemic, (2) the 2020 U.S. presidential election, (3) civil unrest and riots, (4) the sacking of the U.S.

Capitol, (5) a series of internal economic quantitative easing (Q.E.) programs, and (6) irregularities in the U.S. stock market between 2017 and 2021 have served to lower international confidence in the United States, many of its ideologies, its governmental systems, and its leadership.

According to many international analysts and independent subject matter experts (SMEs), these events are presently serving to reshape and expedite a shift in global leadership, authority, legitimacy, and power.

Given these events and the actions taken by U.S. leaders, many in the international community believe U.S. leaders have exhibited little concern to address these issues.

As such, this paper forms the conclusion that numerous U.S. allies and former passive supporters of U.S. ideologies and policies are now electing to seek alternative models of governance, leadership, monetary, and financial policy.