Imagine living in a house with 26 other individuals with whom you share nothing.

You all set out with the best of intentions. You wrote contracts, signed deals. You toasted to the agreement and went to bed.

And then the next day you wake up and find out than one person made breakfast and left the kitchen dirty. You woke up at 6:30 AM and someone else woke up at 10. Another guy will wake up just in time for dinner.

The next day, someone will have eaten your eggs. Someone else will have stolen your watch. It goes on.

And you know what the fun part is? The whole thing started because your neighbour, who is more violent, influential and richer than you, said so.

This is exactly what the European Union is. And this is exactly why the EURO is getting weaker and weaker.

The EURO can't work for the same reason no one speaks Esperanto, which is a made up language: because there's no nation behind it.

Europe is not a nation, and it can't be. It is a continent (Europe) or a forum (EU), in which different countries made of different people who fundamentally don't like each other try to get as much as they can from one another. Whenever they can.

The U.S. Dollar is backed by the United States, which is a nation made of people who share the same passport, the same national anthem, the same language (more or less), the same Federal government, the same army. I could go on.

America is so polarised these days, there's no doubt about that.

And people from California feel like they share nothing with the people of Texas and vice versa and they have a point. But these are cultural differences, they're not structural.

The European Union has huge cultural differences on top of structural differences that non-nation entities always have.

The EURO is artificial because, unlike the U.S. Dollar, it isn't backed by a global superpower.

And, unlike the U.S. Dollar, the European Commission and ECB simply don't have the power to do the same things that the Fed does.

That's why, as soon as inflation kicked in, the Fed lowered interest rates and the EU didn't. Because it simply can't.

So what's gonna happen? I don't know. But I think the U.S. Dollar will continue to be the world's reserve currency as long as the U.S. remains the world's hegemon. And that, in my humble opinion, is not gonna change for many generations ahead.

The EURO will continue to get weaker but at the same time it will keep on attracting new countries in order to survive.

After all, it is already being used (de-facto) in Kosovo and Montenegro and officially (as of January 2023) in Croatia.

But it's utter trash. Or at least that's how I feel.

I get paid in EURO, unfortunately, and each month I immediately convert what I have into BTC, USDC, USD, ETH and RSD for daily expenses.

Just my 2 cents but you should do the same.