The End of USD-Led Global Economic System in the 2020s #34

With recent events, I want to discuss the circumstances, conditions, and aftermaths of the end of the current global economic system led by USD.

Circumstances:
Internal 1: Continued cut in interest rates and increase in money issuance in the last 3 decades have led to 0 interest rates and reckless levels of money printing.
Internal 2: Real estate prices have ballooned in the same time, and non-income-generating assets have be favored over income-generating assets.
Internal 3: The real economy continued to decline over the decades, while the virtual economy reach insane "valuations".

Conditions:
Trigger 1: If Russia cuts itself off the SWIFT system
Trigger 2: If Saudi Arabia / OPEC starts accepting other currencies
Gradual: Even without either trigger, the worsening condition will lead to continued decline in the viability of the USD

Aftermaths:
Financial markets: Real assets, income-generating assets up; hyped-up ARKK-type down. Gold up; sh!tco!n down; NFT disappear
Living standards: Dramatic fall in living standards in the US. Worse hit is the EU.

In the next podcast, I'll discuss Europe's worsening energy crisis, which is why I think the fall in living standards may be worse for Europe than it is for the US, even though it is the USD that'd be losing its reserve status.

This will take place within the decade.