Topic: Dedollarisation fails before starting, Russia and India halt rupee trade - page 2. (Read 472 times)

I think it is impossible to completely abandon the dollar, similarly, it is impossible to replace the international English language-everyone uses it, on every jar of sweet water translated by this language. Of course, they can reduce the impact, but they can only really be seen in the distant future.

I think it is impossible to completely abandon the dollar, similarly, it is impossible to replace the international English language-everyone uses it, on every jar of sweet water translated by this language. Of course, they can reduce the impact, but they can only really be seen in the distant future.

The chances of more countries using their useless fiat in order to settle trades?
Just as much as every single one of you denying a Bitcoin payment and choosing to be paid in PooGrow, which is an actual coin, btw!

Because of the war and the sanctions? That's only reason needed. Plus Russia wants to destabilize west, it always has.

Countries that have sanctions want to trade and that won't be happening when dollar is the centre of everything. Obviously sanctioned countries want their own system that can't be halted by any other entity. But that's easier said than done and i don't think they can make it work.

Because of the war and the sanctions? That's only reason needed. Plus Russia wants to destabilize west, it always has.

Countries that have sanctions want to trade and that won't be happening when dollar is the centre of everything. Obviously sanctioned countries want their own system that can't be halted by any other entity. But that's easier said than done and i don't think they can make it work.

I agree with you, I don't know why everyone is going against the dollar and they just want the dollar to lose its value. Quitting of dollar doesn't makes sense because it's currently the internationally acceptable currency and can be used anywhere in the world without any issue. It's the most useful currency out there and without it I can't even imagine that how would they do trades. Their own fiat currencies can be used bilaterally but that currency won't be acceptable globally.

Over the past months, we have been bombarded with articles about the global de-dollarisation, how countries will quit using the USD, how the petrodollar is doomed, how the entire US economy is doomed once the usd is dropped, how the Zimbabwean dollar, the Argentian peso, the bolivar, the Iranian rial and other, can we even all them currencies?

Over the past months, we have been bombarded with articles about the global de-dollarisation, how countries will quit using the USD, how the petrodollar is doomed, how the entire US economy is doomed once the usd is dropped, how the Zimbabwean dollar, the Argentian peso, the bolivar, the Iranian rial and other, can we even all them currencies? will definitely replace the dollar for trade settlements. And, if you're not so bright, it makes perfect sense, the evil greenback is holding the economies of emergent countries down, it's not corruption, it's not stupidity, it's not the lack of planning, the one who is to blame is the $.

So, some  leaders have come up with the idea, let's trade in our currency and prosper! Except for the fact that when you leave the realm of politics and propaganda for your voters and you enter the realm of economy, well, shit happens!
https://www.businesstoday.in/latest/in-focus/story/we-need-to-use-this-money-russia-says-it-is-unable-to-utilise-billions-of-indian-rupees-380345-2023-05-07

And the whole thing is pretty simple:
- there is no perfect trade balance between two countries, one will run a trade deficit with the other so one will end with a ton of useless monopoly money
- in order to use the monopoly money to trade with country C it would need to either convert them to a hard currency that everyone wants like the $,  or to the other country's fiat but at this point, you would have to trick them into accepting your surplus useless currency and who would want that?

Anyone who has read a bit of history would know about the Weimar inflation, it was caused mainly because Germany printed monopoly money to exchange them for $, and thus their own currency failed, because nobody wanted the Papiermark. And this is where we arrive to exactly the bilateral India-Russia trade:


Simple as that, ruble-rupee trade is good until you need to use all those money, and for the use, you have to exchange it into a trustable currency, at which point you realize nobody is taking monopoly money India can print unrestrained for good old $!

The chances of more countries using their useless fiat in order to settle trades?
Just as much as every single one of you denying a Bitcoin payment and choosing to be paid in PooGrow, which is an actual coin, btw!

~snip

Anyone who has read a bit of history would know about the Weimar inflation, it was caused mainly because Germany printed monopoly money to exchange them for $, and thus their own currency failed, because nobody wanted the Papiermark. And this is where we arrive to exactly the bilateral India-Russia trade:

...

Simple as that, ruble-rupee trade is good until you need to use all those money, and for the use, you have to exchange it into a trustable currency, at which point you realize nobody is taking monopoly money India can print unrestrained for good old $!

Over the past months, we have been bombarded with articles about the global de-dollarisation, how countries will quit using the USD, how the petrodollar is doomed, how the entire US economy is doomed once the usd is dropped, how the Zimbabwean dollar, the Argentian peso, the bolivar, the Iranian rial and other, can we even all them currencies?

I agree with you, I don't know why everyone is going against the dollar and they just want the dollar to lose its value.

Dollar is causing a lot of havoc to third-world economies all over the world and countries will look for ways to protect themselves,

China is the anchor of this, and of course, Russia is desperate, but anything planned under ganging up rather than letting economic demands be natural would not stand.

Originally "petrodollar" was just a name for dollars that are used for oil trade, but then someone came up with a theory that all USD value holds on this oil trade, and if countries will switch to other currency, USD will collapse. This theory completely ignore all other international trade conducted in USD, which is far bigger than just oil trade.

That's also a narrative without proper backing, why would US economy collapse if international trade will switch to other currency? Inflation alone can not kill economy, and it's not even clear that the supposed dedolarization will cause massive inflation.

how the petrodollar is doomed

how the entire US economy is doomed once the usd is dropped