Topic: Refusal from USD - where are the topics ? (Read 360 times)

There is a fairly noticeable difference between the dollar and the yuan.
Yuan is a candy wrapper of China. Behind which there is only a huge population, Western technologies bought for dollars, and an export-dependent economy. And post zero liquidity of the Yuan.
The dollar is devoid of these shortcomings. He has one drawback - he is ENVYED, and realizing that it will not be possible to achieve the same level, or rather, a position in the world economy, they follow the path - "we cannot and do not know how to do as well as the United States, then at least we will try to cover up with shit the one who better than us."
Well, plus the classic desire of the world's rogue countries, at least somehow "to take revenge on the United States", for the fact that they are rogues and their prospects are sad

I still feel like there is this "multi-currency" situation that will become the norm in the future. I mean some will take dollars, some will take ruble, some will take yuan, and some will take bitcoin as well. It's not going to be just one currency to rule over everyone else, world will not let that go on for a long time, that just doesn't make sense.

I know that dollar has ruled over for a while now but that was for a period, after a while other nations realized that it is not going to be easy to handle all of this so they are going to go with a different route. This is why I believe that we should be expecting other nations to have different type of deals, and should be considering multiple currencies to get to the top and used.

Well, that's what you think, I don't think that payments will be replaced by a single currency, which will be the Yuan, as you think, I think that many payments that are now made in dollars will be made in other currencies, and if you look at the paragraph of mine that you quoted, I speak in the plural. I believe that some payments will also be made in Euros, for example, and moving from a unipolar world in this sense to a multipolar one does not necessarily seem to me to be a bad thing, as you suppose.

Diversification, in today's world, is an absolutely reasonable decision, because. for example, the Covid19 pandemic has shown that neither economy can withstand such threats.
What is happening is diversification, but many are trying to pass it off as "abandoning the dollar", which causes a smile


Instead of a thousand words, just a little information about China's gold and foreign exchange reserves.

The exact composition of China's foreign exchange reserves is classified information and is under the full control of the government.
The first case of disclosure of the structure of China's gold reserves was in 2010: In September 2010, Beijing for the first time provided detailed information on the size of its gold and foreign exchange reserves. In particular, it was reported that the indicator was 2.45 trillion dollars, of which 65% of all gold and foreign exchange reserves are denominated in US dollars, 26% - in euros, another 5% - in pounds sterling and another 3% - in Japanese yens.

From 2005 to the end of 2022, the country's gold reserves increased from 600 to 1852 tons. the increase in gold reserves was mainly due to the purchase of gold.

2023 BEIJING, Apr. 8 (Xinhua) -- China's foreign exchange reserves declined in March as asset prices moved amid a stronger US dollar. This is evidenced by official data released on Thursday by the State Administration of Foreign Exchange Control of the People's Republic of China.
As of the end of March 2022, China's foreign exchange reserves stood at $3.188 trillion, down $25.8 billion or 0.8 percent, according to the agency. less than at the end of February.

China's main foreign exchange reserves in 2023 are held mainly in - dollar, euro, Japanese yen and British pounds.
The Chinese government does not disclose exact data.

It may just be me, but those articles and the posts of many people around here both from the United States and outside that country imply that the FED and the Treasury of the United States are under the control of incapable idiots. While I agree that many politicians can be populists and very irrational individuals, I do not think there are dumb people behind the economy of such country.

Even though the USA dollar may lose some of its power around the world or in specific countries, there is still a lot to do if BRICS and others really want to get rid of the dominion of Washington. Nobody should under-estimate a super power so easily.

That is just my opinion.

Yep, the dollar is fucked up and everyone understands that. The Fed is trying to curb inflation, and a higher discount rate is making debt servicing extremely painful. Look at the execution of the US federal budget this fiscal year - 4.5 trillion in tax receipts, 6.5 trillion in spending and more than $900 billion in interest on debt service alone, not including the body of the debt itself. You don't need to graduate from the Higher School of Economics to understand that this is fucked up.

China has been actively getting rid of investments in US Treasury bonds for several years, but even China does not benefit from the avalanche collapse of the global financial system, because despite the strategic confrontation and the active phase of the trade war, the US is an important trading partner of China. The world has lived too long in the era of globalization for the collapse of the world reserve system to benefit anyone at all, except for the most radical groups. Therefore, all interested parties are trying to soften the inevitable blow.

It seems that the United States itself will benefit the most from abandoning the dollar, because this is a great opportunity to write off their out of control debts.

The dollar is sick and dying. The funny thing is, the FED is not helping. They only worsen the situation with every move they make. China, Russia, Iran, Argentina, Brazil, India, Saudi Arabia... These countries are fed up with the American bullshit and they want to move forward without them. USA is always threatening them and actually banned some of them from the SWIFT system. Now these countries are forming an alliance, effectively they are sanctioning the US from the rest of the world. USA should have played it nicer but now that was too much to ask. Instead they made everybody angry.

No one says that he will give up the dollar and even the countries that have started dealing with their local or yuan currencies, as they still keep a large percentage of the treasury reserves in the form of a dollar, even China has US reservoir bonds worth more than one trillion dollars.


All that is in the matter is that the countries keep the dollar and gold only, but will try to diversify their commercial deals away from the dollar and thus less exposure to the debts of the United States and then you do not need to be linked to the federal and increase interest rates as the federal increases interest rates.

[1] Why China Buys U.S. Debt With Treasury Bonds

There is a fairly noticeable difference between the dollar and the yuan.
Yuan is a candy wrapper of China. Behind which there is only a huge population, Western technologies bought for dollars, and an export-dependent economy. And post zero liquidity of the Yuan.
The dollar is devoid of these shortcomings. He has one drawback - he is ENVYED, and realizing that it will not be possible to achieve the same level, or rather, a position in the world economy, they follow the path - "we cannot and do not know how to do as well as the United States, then at least we will try to cover up with shit the one who better than us."
Well, plus the classic desire of the world's rogue countries, at least somehow "to take revenge on the United States", for the fact that they are rogues and their prospects are sad

Apparently you misunderstood me
No one person, no paid bands, no global conspiracy!
It's just that in the information field, sometimes, in order to achieve some goals, they begin to purposefully make "information throws", in order to form "public opinion", distract attention, i.e. information manipulation. So here. Apparently, people began to understand that replacing the dollar with the yuan is even more problems, and real problems for the economies. And there was a mass of media content, all formats, that the dollar is evil, it must be abandoned, BRICS is salvation, and nothing that is only in the Yuan, the yuan is generally good, and go ahead - don't be afraid
Review the history in the media for March-April. You will see what a surge there was, and how unexpectedly it dried up

The problem is that people want to "blur their eyes" so that they do not see the real picture of the BRICS, the "abandonment of the dollar", and do not raise indignation in their countries, and do not stop the Chinese project of saving their economy at the expense of the "fool donor" countries "

China tried this strategy in Africa, trying to garner international relationships and force countries to form dependence on them giving them leverage. Many Chinese companies were doing business in Africa in the 90's and early 2000's but the partnerships never really came to fruition. Yuan is even worse than USD so any country emptying their reserves for Yuan will eventually find the same problems they had with USD.

I think this is a hotly debated topic, with some suggesting that it is time for a new global currency to emerge, while others think that the USD is here to stay and it seems that the USD is still a big player in global trade and finance. Any significant shift away from it will require major shifts in the economic and political landscape. So, while we may see the occasional media frenzy on this topic, it is unlikely that we will see a complete rejection of the USD anytime soon.

I could have sworn I posted in one of those threads, but I just checked my history and couldn't find anything.  Maybe the thread got deleted?  But yeah, I have noticed them but haven't really been interested in reading anything with the death of the US dollar as a topic.  There's been discussion related to that for a long time now, and it's anyone's guess as to what's really going to happen.

That's usually true for headline news stories related to crypto (like the collapse of FTX), but I'm assuming the members who created the threads OP is referring to weren't established members.  Am I right, OP?  It sounds like a spammer or propagandist or who knows what.

In any event, I don't think this is really a big deal.  I'd say it's probably a good thing whoever started up those threads went away.

Economist knows what's going on with the US and this is not just a rumor, its happening but of course we can only see its effect once we get there, in time USD might not be the only top options for many trades. I'm just wondering if the situation gets worst with the USA, are they going to declare a war or they will continue to influence other countries to go against China and its allies. Well, no one knows but as far as I can see, USD is still the top choice, it might probably stay for another 5 years.

Are you saying that these topic comes from a single person, created by different accounts?  And now that the person had found another topic to discuss, the existing thread is abandoned?  It is not surprising especially when the thread had served its purpose or the author thinks that there is no need to continue with the discussion since he got what he wanted, the idea and thoughts of the forum.

Anyway, if you are insinuating about the possible conspiracy theory, these tactics had been done ever since.  Creating propaganda, releasing the idea to the masses to make naive people believe or inculcate an ideology to the minds of readers.  

Anyway, I do not think that the dollar supremacy will tumble overnight.  It will be a series of events and may take decades to a century to be replaced.  There should be a major shift of trust in major developing countries and there will be lots of conferences and conventions before arriving at a currency that can replace USD.  

As they say "There's none so blind as those who will not see.". The dedollarisation is still ongoing and there is enough discussion about it on this forum without needing a new topic being opened every day with every tiny news.

The most recent news is the United States Secretary of the Treasury Janet Yellen admitting that the world is dumping the dollar.
There are lots of signs of the weakening dollar too. From the inflation+recession going on in US that has led to mass firing of employees and increased unemployment and banking system falling apart to the economic hardship that has led to a significant increase in number of people who loot supermarkets across United States every day.

It would be spam to open a new topic every day to say for example yet another Walmart store was looted 2 days ago in Chicago by hungry Americans.

Besides if you were expecting dollar to dump down to zero overnight or disappear from the world, that was your mistake. Countries aren't dumping dollar overnight or even all at once. They reduce their dependence slowly. For example a country that was trading 100% in dollar is now trading 80% in dollar and 20% in other currencies and by the end of 2023 this percentage would reach 50-50 and next year to 20-80. And that process will continue to weaken US Dollar.

It need not necessarily be the Yuan, and it need not necessarily be replaced by a single currency. Simply put, purchases of raw materials that are made in dollars could be made in the future in different currencies of the countries involved.

I simply believe that everything has its time to make an impact and be discussed. People tend to make humor and talk about what is going on at the time; it's a trend that may be coming to an end. It is not a question of being paid or not to propagate propaganda. The media is vast, and people say whatever they want in order to gain public attention.

The same thing happened on this forum because that was the topic of conversation on social media at the time. Now that everything has calmed down, we will see fewer articles regarding the US dollar. The truth is that most people simply follow trends and don't care what they're all about or the effect of what they’re engaging in, that’s just a typical being for you.

Yes, I agree, I did not quite correctly formulate the idea, many were hooked on the word "paid". It is not necessary to be paid, it is enough to be "the right breeding ground for certain thoughts." This is how society works, this is how manipulators work, this is how people who understand how to use other people work
But the real problem is that the "peddlers" of these thoughts do not want to think, and see only the tip of the iceberg, but do not see the main part. Who benefits from this and what are the real goals of the "project". But they will see it soon, but I'm afraid they just won't like the reality that will appear when the "wrapping film with the inscription" fight the dollar" falls off

someone's habit of making topics that are trending outside the forum will be brought to the forum as well, this happens because these issues are being widely discussed such as COVID-19, the Russia-Ukraine war, and the rejection of the USD rejection. so often such topics become the dominant topics of discussion in forum a because of their relevance to the current situation and their impact on everyday life.

However, in bringing such topics to forums it is sometimes important to ensure that the information shared is accurate and valid, and that the discussion proceeds in a way that is dignified and respectful of different views. This will help ensure that the discussion goes well and benefits all members involved in the discussion. I think it's normal for things like that to happen in forums about discussing topics that are being talked about outside the forum.