Topic: People keep talking how weak dollar and how bad usa economy getting - page 3. (Read 1049 times)

I don't know about you, but in my eyes it kind of bizarre how a country can switch between currencies in such a drastic manner. I can understand the impact of inflation and how it can force people to adopt a new de facto foreign coin, but if they switched from dollars to Euros because the influx of tourists, then it makes me believe Turkey must be a country which heavily depends on tourist, rather than international exportation of goods, because in the international market the USD is still the standard, specially in western ones.

I'm going to have to disappoint you

For example, since 2018 approximately, when Russia took offense at Turkey, and did not think of anything better as a ban on visits to Turkey by Russian citizens - in Turkey, in the tourist zone payments were accepted in dollars, euros and Ukrainian hryvnia .
We used to vacation in Turkey all the time, since about 2003, and then the dollar was almost "the second official currency". Now I communicate with friends who are Turkish citizens - the dollar is also accepted. The only nuance - the turnover of EURO has increased, as the number of tourists who used to bring dollars - residents of Ukraine, Russia, Belarus - has decreased. Europeans, it is logical to assume, go with their EURO.

PS Here's another example - a friend's mother sells Turkish things. She travels independently and buys in Turkey. She settlements with manufacturers in dollars, and no one refuses to accept them

My notice. I got just returned from Turkey. Besides their national currency, Turkish Lira, I saw that vendors, hotels and service providers have switched to Euro. Previous time I have visited Turkey was two years ago, and that time I've made all payments in USD. Now it was Euro everywhere. And that was not only in tourist area. They write prices in Euro, but give you receipts in TRY with a remark like "0.2 EUR = 5.80 TRY".

A wise man once said that power that you see is transient, why do you see that over the years, richest person change, this is to tell you that nothing is permanent forever, that change is natural and it must surely happen with the USA as well. Russia maybe chaotic and violent as they have been attacking Ukraine because of politics but that doesn't make the US a scent, they have done worst to Afghans and Syria, they are already fueling little Taiwan to wage war against almighty China which I see as another case of Russia and Ukraine, they wouldn't win, US might be leading for now but that power will change one day.

US dollar is strong because countries are still using it to settle debts and trade, to them it might be valuable because that is how the US want it to look in the face of others but you should do more assignment on value of dollar in the united state, many times it was reported that their value is reducing every day and if they want to make it worst, once people stop using dollars for international trade, the US will suffer for it.

The world can be in better place if this countries unite together, the US, China, Russia are all looking for opportunity because they are already made countries, the small undeveloped and developing countries need to work on their countries to be independent, that way the fight will reduce because nothing they will want to offer and by that, there will be unlimited choices to make and also the right to reject any of their offers.

Be save and avoid war mate, nobody win in a war, there are always casualty.

Yes, they need to do that because a currency is not the only thing that can make a country powerful but there are other important things too. It does not mean they don't monitor their currency, they still do that. US might be the strongest and other countries are only at their back but some of them like China are still a big threat to them and can possibly overcome them if they don't try harder.

Same here. Maybe they think it's weakening because they see that the value of the dollar is dropping but they didn't know or forget that it was only normal. Even the stable coin's do also know how to fluctuate despite being known to be a stable currency. I think we can only get alarmed once their value drop so hard that it doesn't returned to 1 dollar immediately.

Great example and explanations, thank you !
For me the "perfect example" of how the "high standard of living" is painted is russia. After Putin "called, ordered, demanded, pushed, made leaps and bounds", and in 20 years the level of real life has fallen "below the plinth", and the state statistics could no longer stupidly manipulate the data, and the indicators became available and understandable.... The ideal solution is to CHANGE the head of the Russian Ministry of Statistics, he "draws" a new "model for assessing the standard of living of Russians" in a couple of days - and voila ! "Life has become better, incomes have increased, inflation has fallen". And everyone swallowed it, but they do not understand why it is better to live according to the new indicators, incomes are higher, but in the real pocket there is less money and higher prices

Yeah, yeah, let's invent a new metric to tell poor people they are not actually poor.
But since we're on Bitcointalk shouldn't we talk about wealth in Bitcoin" So let's look at those GDP numbers in BTC
Already done math:


So in BTC , BRICS is actually half of G7!
Now BRICS has added penniless Iran, Ethiopia, Egypt, and a few others that barely matter.
G7 has allies and trading partners like South Korea, Australia, Spain and the Netherlands who just by themselves have a bigger GDP than Russia and India combined!

To see the harsh reality beyond those numbers just take a look at my topic:

Let's look at Brics:
Brazil - 3,746 India -16,246 China 4,145 Russia 4,138 South Africa
vs
Germany 371  

So, how much does it matter that you have a 3 billion people when everyone just wants to flee those countries?
If the G7 is in such bad shape why is BRICS losing 4 million citizens that emigrate to G7 countries each year?


There is propaganda and there is reality! But don't worry, you can't miss it no matter how much you try to avoid it, it will hit you like a brick wall!

Oh btw, I see you're in a campaign that pays in...what? Rubles? Yuan? Rials?
If you hate the dollar that much how do you feel getting paying in $ equivalent and keeping the petrodollar alive?

No matter how much mental self-satisfaction some individuals engage in, the fact and reality remains that:
- China continues to accumulate U.S. government bonds in its reserves
- All BRICS countries are trying to sell finished products for international currency as much as possible, while buying back raw materials for their local currency.
- The U.S. economy, unlike most other economies, is growing.
- Countries with good partnerships with the US and the EU are more stable and predictable. The leading BRICS economies, China and India, are categorically reluctant to worsen their economic relations.
- Any squeals about dedollarization, when checked, turn out to be empty sounds

For how long have we been speaking about the dollars becoming weak against other world currency, this has been going on for so long now and I don't think we'll see an end to it unless the United States stopped been the world power that's when the US dollars will lose its significant authority in the world for trade. There's no world currency as valued as the US dollars so China won't dump the bonds as you're saying. BRICS can't have full effect as it'll take some time to be effective.

Generally fiat currencies are becoming worthless due to inflation but the US dollars stands above other currency when it comes to trade power and that's how it's going to be. BRICS has the power to overthrown the US dollars but alot of things has to happened for it to be successful.

It will surely take years for any changes to happen as per anything that has to do with BRICS. However, it should not be ignored that BRICS is a big change, and applies such difference especially now that countries who is a member of this group have the drive and muscle to say that they are a part of BRICS and is backed by them. Granted, the US has the history and the dominance for years that will not be easily taken down. Despite some unstable relationships that some countries have with the US it cannot be questioned that they are still heavily dependent on the US in terms of security and trade, not to mention the USD. The real threat, however, that BRICS have against the US is the 40 countries that showcased their interest in joining the group. However, that will even take years to have an actual effect if those 40 countries actually get in.

Actually Iran's presence is in a way much higher and more serious than US, Russia and China but it is of a different nature in comparison.
US presence in different places is either by force (invasion and genocide) or by colonizing, China's presence is always from the economy perspective (with investments, loans, etc), and Russia's presence is usually from resources and military presence to fight their battles abroad (like Wagner in Africa).

Iran's presence on the other hand is first and foremost revival of the ancient relations some of which dates back a thousand years. It is sometimes ideological bonds which Iran seeks to expand and solidify across the globe, sometimes it is just mutual interest like elimination of extremism and terrorism, to build infrastructure, etc. But in all cases it is kept out of the news for many reasons which would be off-topic here.

It is everywhere too. For example Iran has an active and large scale presence in USA background, ie. Latin America specially since Iran is a successful and kind of the leader of Anti-Imperialism in the world.
Same in Africa, as the successful case of Anti-Colonialism and Anti-Extremism and Anti-Terrorism there is a lot of mutual interests between Iran and Africa as a whole not to mention the decades of experience that Iran is relaying to them. This is why for the past couple of decades Iran has been helping many African nations deal with US backed terrorist organizations like Da'esh.
And of course in Asia from West which is where Iran is located itself and has the most dominance and allies to the East and South. For example one thing you won't find in the news is how Sri Lanka got rid of its decade long fight with insurgencies of the separatist militia with the help of Iran.

Looking at the system you could realize that the system looks unsustainable and may head to collapsing because the government keeps printing more and more money into the system.
De-dolarization is possible, Take for Instance based on Bricks nation's mission to shift away from dependency on US dollars and if the people Republic of China decides to dump on US bonds, and more countries follow suit, or countries that export crude oil and petroleum product starts demanding payments in their local fiat currencies, What do you think would happen to the United States dollar?

I will prefer you first analysis to this yes analysis for Iran. Iran might have had very good economic growth this past years but like you also confirmed, being a super power doesn't only cover economic growth and factories waiting to be used. Iran doesn't yet have international coverage or presence like US, Russia or even China. Russia and china can fit into the shoe more than Iran. The presence and awareness of BRICS is getting the new world order closer in the face of the leaders of BRICS.

I did not thought about it and your post enlightens me, thanks.

JP. Morgan just published their article on it and I am reading it too. De-dollarization: Is the US dollar losing its dominance?.

Macron is smart and he wants to build his nation, France, as a new leader of NATO and want to escape from the USA. impact. His vision must be continued with future Presidents of France that is unrealistic. In Western nations, politics can change quickly and national strategies can be changed a lot by different Presidents and their presidencies.

Henry Kissinger still is an important politician even he turns 100. He was very warmly welcomed by China months ago while current US. Secretary of State, Antony J. Blinken, was not received similar warm welcome.

Something interesting to ponder is that dedollarisation can be a bigger threat to Europe than to United States. As the dedollarisation grows, all these printed dollars in global circulation would have to go back to their origin (USA) but that would cause hyper ultra inflation in United States. However, there's is this law that would be enforced to prevent those dollars from coming back to keep the US inflation "exported". In a world where Europe is left dollarised, EU will have to bear that inflation.

This is exactly why a lot of politicians in Europe have been warning about staying "close" to US as the sinking ship. Macron is only one of them.
This reminds of a quote assigned to Henry Kissinger: "To be an enemy of America can be dangerous, but to be a friend is fatal."

Well, yes and no.
- No because economy alone is not what makes a country "super power". There are a lot of different factors involving geopolitical presence and effect, geography, infrastructures, resources, military, "reach", international allies, population, etc. and even when it comes to economy you can't just analyze it based on one factor like inflation or GDP growth. Even each of these factors alone can not be analyzed based on raw numbers and one-liner twitter like comments.
- Yes because if we only focus on economy, the past year is an excellent indication of the massive potential of growth Iran's economy has and the extremely ready infrastructure like ready to use factories and production lines that used to work at a tiny portion of their capacity, top quality products in many fields including high tech that can easily eliminate their foreign counterparts and most importantly ultra cheap production cost which helps that elimination in the competitive global scene. This past year Iran has been heavily dedollarising by the way.

There are many countries that understand this and focus on gold and foreign exchange reserves, but at the same time they also have large reserves of dollars that they need for foreign economic activity, or if there are not many such reserves, then they are still obliged to buy dollars for mutual transactions, or something like that, for paying off external debt. Bitcoin for the reserve is practically not used countries, in this it is very much inferior to gold, but perhaps in the future this may change if it strengthens its position and is legalized by many countries.

People who love the US, and like an authoritarian world always say that a weakening dollar is impossible and there is no new world order. They are just trying to deny the truth, they don't want to accept what is happening. Indeed, de-dollarization is no longer a theory but is becoming stronger than ever. I am really waiting for a new world order, a fairer world for all countries.

A new world order is being formed and we should accept what is happening.



By the way, the recent coups in Africa are sure to be bloody and cause heavy damage. But in the long run I think it's good for them, I always have one question, most of those countries are French colonies. But why after all these years have they not made any significant progress for their country? Are they working but they are not the ones enjoying the results?

I found this photo from a fanpage advocating freedom for Africa. It's worth thinking about.

If the dollar was always shit, no amount of politics or false accounting would make it a top power. The dollar had trust. People keep claiming the dollar is dying and losing its value when in reality it's just going through what every currency goes through. Even Almighty Bitcoin goes through rough patches, talk more of a centralized currency.
I'm not overly a fan of fiat currencies but I'll rather have my savings in dollars than in any other currency of the BRIC countries. At the end of the day, that's what any investor cares about. People need security, they need something they can trust and the dollar to an extent gives them that.
Don't get me wrong, I know the dollar won't be at the top till the end of the world, There have been several other world powers before the US, but for the foreseeable future, the dollar is still going to be way ahead of any other thing BRIC comes up with.


Then you also look at the purchasing power of those BRIC countries and the purchasing power of the USA, Canada and the EU. Where does a product sell more if not the US?
It's not just about the population. A good number of those BRIC countries can't afford what the American market can afford.
Population alone does not determine the GDP of a country or region.

In my opinion, it is more or less true that the new currency pioneered by the BRICS group will affect world trade, foreign direct investment and investor portfolios and this also has the potential to cause geopolitical turmoil, one thing that is visible is that this process will take a long time and require years of cooperation. years that ultimately phased out local currencies.

Politicians all over the world regardless of their language, culture and background all talk one common language, which is the language of benefits, they want to obtain benefits for themselves and for that they need to strengthen their country somewhat as this makes them stronger as well, the main problem many countries have is that they are holding most of their wealth in reserve by using the US dollar, but the US has been printing money massively for the last 15 years or so affecting the interests of countries all around the world, and as such it is natural those countries do not want this to continue and look for alternatives, which by the way is exactly what we are doing by using gold or bitcoin to store our wealth instead of using fiat currencies.