Topic: Ditch the Dollar - page 2. (Read 490 times)

BTC might just be the best option than just going to a country's currency because it always happens every time that a country will be using the currency to oppress another country. Even Francs were enforced in an African land so far away from France that they themselves are not even using it.

If they are going to discuss how a currency becomes a global currency, it will disgust your stomach. But its always been that way even in ancient times when India is the richest.

I think many have seen the graph below:



As you can see, every global reserve currency has it's lifespan and USDs lifespan is about to come to an end. Which currency will take it's place? Yuan? Bitcoin? Personally, I think it's going to be Bitcoin, the time of national currencies is over. Make sure you're ready when the time comes. BTC

Changes when it comes to such fundamentals of the economy are never fast, but they do happen, the US dollar has enjoyed a period of dominance but it is not as if this was unheard of, but just as there were currencies before the dollar which were used for international trade, those currencies also lost that power, and as such I do not see why the US dollar is going to be an exception to this rule, especially when more countries are openly opposing it.

I am pretty sure Dollar will stay, this is the biggest economy in the world we are talking about and that is not the only thing that matters, it is also the biggest income maker in the world as well. They may have a lot of debt, and they may do war crimes and invade other places and all that, you may hate them personally as much as you can, I do not really like them neither, but when it comes to economy?

Nobody else can be as self sufficient as they are and they are going to be rich forever. Dollar is not going anywhere because of this exact reason, I highly doubt that it can go away anytime soon. I hope we get a bit more equal currencies of course, but it is not going to happen.

That's good of countries to become more willing to deal with their own currencies directly between each other, instead of using the US Dollar. To a certain extent this is going to reduce the number of financial transactions needed and also increases demand for these currencies. In international trade it's usually one country that sells goods, material or commodities and in the past was paid with US Dollar, the country then could use the money to buy anything they want from all other countries that accept USD. Now with more bilateral trade, the country that receive the foreign currency would need to exchange it or have a smaller range of countries to buy things with the money. This could be a  great way for smaller countries to try and generate more trade. Especially when it's harder to move large quantities of foreign money around. This could also be an effort to engage more into goods vs goods trading instead of settling for money.

I think this is some exposure from the movement of resistance carried out by the bamboo curtain country, whose goal is to suppress US dominance in the global economic market, China deliberately invites them one by one to join the system created by China, and I have to admit given that china has that power to put pressure on the US in international markets, that strategy of bilateral relations has been quite effective so far and may be even more widespread if it goes on actively without any interruption due to the obvious advantages to each other in using each other's currencies.

I think if the USD is no longer in use, surely it will do the same thing as other countries, namely looking for a currency that applies in the international market to meet its export and import needs, and those that usually carry economic flows are forced to follow the flows brought by countries. other.
 
If the expansion of the system traded in China continues to develop, of course people will release dollars as foreign exchange and return them to their owners, and that day when all countries release them, maybe the dollars will accumulate in their own cage and certainly hyper inflation will not be avoided.

The US must not have time to calm down if it does not want its opponent to take its throne.

I wouldn't say that the Chinese economy depends on the dollar. China simply doesn't want to provoke a global financial crisis, by dumping the US dollar completely. They will dump the dollar, when the right time comes and when they are ready. The process of dedollarization has to be less painful for most of the countries in the world. Many Latin American, African and Asian countries don't want to deal with USA and the US financial system, because of the US system of sanctions. The USA is simply saying "if you want to make business with us and use US dollars, you have to follow OUR rules". This is something, which many people in the world dislike. The arrogance of the US empire is getting out of control.

The political undertone with the ditching of the Dollar are very clear and one of the reasons why the BRICS countries are strengthening relations to rely less on the US Dollar and more on trading in other currencies.

China seems to be the leader of the pack and the driving force behind this, because they know that a weaker Dollar will give them a economical advantage and also a stronger military power, if they can strengthen their economy. 

Another unfortunate fact is that the United States know they can do it because the Yuan will never be a long term solution/replacement for the Dollar. Why? Because of the One Child Policy, China's population is aging. By the year 2050, 39% of their population will be made of retirees/people who are over 65 years old according to some projections by researchers, and it will grow.

That will definitely have a negative impact in their society, economy, policy AND their CURRENCY.

There are many reasons leading to the decline of the dollar. One of the most important reasons is the monetary policy of the US Government. The US government has issued too many dollars to serve their spending, causing inflation and a decrease in the value of the dollar. In recent times, the dollar has experienced a significant decline in its value against other currencies in the world. This decline has caused much controversy and concern in the global financial community. And seeing the changes emerging from China, I think it is understandable for the dollar to lose its influence.

The list of things that led to demise of United States is long, one of the main ones is abuse of power/sanctions. Another is the unstoppable money printing machines that are on a printing spree increasing the US national debt by the second.

The world has realized that they either have to endure US inflation in their own country or dump dollar so they are slowly but surely choosing the second option.
This is not the first time they do this either. They did it back when they first realized US economy is only alive because they print money that is no longer backed by anything, this was in the 70's and they ditched dollar and it got dumped hard and US economy turned into ashes in about 6 months.

Of course in the 70's US national debt was only in billions of dollars, to be more specific in 1970 it was only $371 billion dollar and today it is $31,653 billion ($31.6 trillion) which is a 8431% rise! US is also not the hegemony it was back in 70's without competition. US military is not nearly as strong as it was back in 70's. US also doesn't have the energy rich colonies it had back in the 70's.
The dump of dollar this time is going to be a lot more catastrophic and there will be no coming back.

Unless the US regime can think of any other scam like last time (Petrodollar) or start a World War, I don't see the trend of dedollarisation slowing down.

it's usually what I see in the mainstream media almost everyday, not knowing that their last option or their ace up on their sleeves is the western countries. i know you didn't mean to generalize everyone who is against western countries coz I am an eastern too, but seeing how some of my fellow people here acting that way is somehow embarrassing. imagine them telling the western country "it's about to collapse, dollar keeps decreasing, high inflation rate" while at the same time they'd be saying "there are lots of opportunities there, good education system and world class standard, cheap items you can buy in bulk", isn't that kind of ironic?

Yes, it's still warm. my view on the success or failure of this trend will depend on a variety of factors including economic and political stability, the strength of alternative currencies, and the willingness of participating nations to cooperate and compromise because doing so could challenge the US position as the dominant global superpower and its ability to deliver influence through economic means.

Shifting from the US dollar as the primary currency for international trade is a complex issue with potentially significant implications. While this can also promote greater independence for participating countries, it can also lead to increased volatility and instability in global markets.

And it's not just that, the whole economy stands upon exports to the western world, the yuan is not getting dumped like other currencies just because there are USD entering the economy, if that is gone the yuan will follow the rest of the shitcoins, they need the US to be as powerful economic as it can in order to sell them stuff, otherwise is bankruptcy for them
Plus as you said, China is losing its workforce, and this thing was captured perfectly in this quote

As I said, when it comes to politics yeah, ditch the dollar, when it comes to your own wallet, good dollar, more dollars!

It is laughable how every single politician from those countries that want to end the US dominance is having bank accounts in the western world, in either $ or Euro, is sending his kids to western countries for education, and is buying properties there, despite every single daying tweeting about the collapse of the western world.

I have no positive views of dollars or any other fiat currency as they cause labor theft through inflation. In addition, if we look at the historical change in global reserve currencies, we can easily predict what will happen to the dollar. That's why dollars or any other fiat currency is never a top priority for me. Instead of dollars or any other fiat currency, I try to raise assets with limited supply such as Bitcoin and gold in my vault. So, I'm giving up the dollar, but not for the purpose of using the yuan :)

It's ironic that these countries decide to ditch the dollar for an even bigger devil. It's some very senior level politicians no doubt getting very rich doing grubby little deals that will end up in very opaque arrangements with China. America is by no means an angel, nor is it especially charitable in the rates it offers, but China has been shown to be much more manipulative in it's business and political dealings. The average person on the street from all of these countries is going to suffer for these trade agreements in future. Ironically China  is an even worse currency manipulator than the USA, which is funny because that is a very tall hurdle to reach over. These swap moves money from the clouds into the dark caves where no one can see.

China's strategy for long term development is that they offer economic concessions to certain countries and make the country dependent on them. When that dependence forms, the country is at the whim of China -- should they ever be at odds, China cuts off the economic ties and isolates the dependent country. They tried this strategy in some African countries in the 90's and early 2000's.

Ditching the dollar for the adoption of Yuan makes USD weaker and merely puts a bandage onto a bigger problem which is centralized currency.


Unfortunately the U.S. became too heavy handed with sanctions and countries are realizing it isn't worth it to have an unstable country that pegged directly to U.S. foreign policy.

Will all these efforts succeed in reducing dollar reserves globally? I see that the dollar is still the number one reserve currency, even with all the damage that the Fed is causing to countries, many countries still keep the dollar and prefer to deal with it instead of many currencies.
These deals are considered an attempt to put pressure on the United States from those countries, but in the end, when the choice is between the dollar and other currencies, I think that many will choose the dollar.

Check Foreign_Holders_of_US_Debt_2022

Plus the narrative is, it will be the Chinese Yuan that's going to replace the U.S. Dollar, and that it's going to happen "soon". But what the people who push the narrative never researched is that China is one of the largest HODLers of the U.S. Dollar. It would be laughable if they'll cause its destruction, and burn the value of their own assets.

China's population is also getting old. Their fertility rates are going down, and probably by 2050, they will have more old people than young people who are under 25. What will that do to their GDP, and the future of their economy?

Fans of populism, of course, "clap their hands", rejoicing. True, they do not understand that in fact, the situation is diametrically opposite ...

I'll start a little from afar. Among the countries included in this union, so to speak, only one country is reasonably developed, in terms of the economy and a certain technological level of development. This is, as you all know, China. And it's not just that the slogan "abandoning the dollar" has turned, in reality, into the slogan "everyone except China is switching to yuan. China remains with dollars." Why is that ? Because of all these "equal" members of the union, China becomes the OWNER of this union, and its satellites become its subordinates, whose economy will soon be completely dependent on China.

At the same time, the Chinese economy depends on the dollar. Therefore, China "supported" this idea, but with a small caveat - China did not abandon the dollar, and "put" its "subordinate" allies on the yuan