As for today I, and this is a personal view, see not a bright future for USA and the west, Europe included.
The matter is when, not if.
We will have a currency and following financial and of course economical reset.
Iran is the typical example of a check mate.
China, thanks to its intelligent understanding of financial and economical matter, has arrived to the point where getting rid of its trillion dollars US treasuries won’t bring a loss and is ready to do so.
They calculate it has reached around 10 or 11 thousand tons of gold, whose value is indirectly dependent on the US dollars.
If the dollar goes up, the gold goes down and that is what allowed China to buy such a good quantity of it.
But if the dollar goes down, THE GOLD GOES UP , that means China won’t suffer when it decides to flood the market with US treasuries.
If US attacks IRAN, as Saudi and allies want, China will discharged the dollar, if US doesn’t attack IRAN, Saudi will discharge the petro dollar.
In both cases China won’t suffer, on the contrary, the Yuan will be the next reserve currency.
What will be the outcome for the banks and the financial world?
The death of the petro dollar means also that the reserve of the too big to fail won’t prevent them to fail.
Like a domino game, one will push the other down.
China: check mate