Topic: The End of "USD" as the World's Reserve Currency - page 2. (Read 1322 times)

I think the dollar will remain the world currency. But it is possible that in the near future a new currency will appear on the world market. This currency will be able to compete with the dollar, euro and yuan. I think the US economy is strong enough to recover from the crisis, but the risk of dollar depreciation is high enough.

That makes sense. As far as I know, some countries like China and Russia are manipulating COVID-19 cases for their own convenience. With more tests, comes the ability to detect cases of the disease at a faster rate than any other country in the world today. While the pandemic has negatively affected the US economy, the USD is still standing strong. For a collapse to happen, the economy needs to be in a recession (or depression) for a very long time. If the US is unable to recover its economy, then the USD will certainly lose its position as the reserve currency of the world.

It's only been 4 months since the pandemic hit the United States, so we'll have to wait how everything unfolds during the remainder of the year. One thing for sure is that China is one step closer to launching a digital version of the Chinese Yuan. If it becomes the first country to launch a CBDC, it could gain a competitive edge over the world's economy. The US needs to act fast by paving the way for the development (and hopeful) adoption of the Digital Dollar. Otherwise, the USD may see its demise as the dominant currency of the world.

Nonetheless, no one knows what will happen in this world of uncertainty. After the COVID-19 pandemic is over, things will never be the same as before. We will gradually shift from physical interaction, to a wholly digital one. It's a good thing that the US is the second-largest Gold holder of the world, which could give it an "edge" over a decaying Fiat currency. Either the US will recover quickly after all of this is over, or all the other way around. Just my thoughts

With China already focusing on launching its own digital currency, the US might be left behind if it doesn't "modernize" the USD. A digital dollar implemented at the right time could maintain the United States as the leading country of the world. (Just my thoughts)

The essence is not technology. But in the primary role of the dollar which supports 58% of transactions between countries in the world. although in the country's foreign exchange reserves there are other currencies but the dollar is still a stabilizer of a country's currency exchange rate. Many countries might want to de-dollarize. We take the example of dedolarization and use the digital Yuan. We must find a trading partner who is committed to be paid with Yuan. And of course, the country must also ensure that its other trading partners also receive Yuan. If the Yuan cannot be spent then the state cash flow cannot run either.

America has hegemony the money circulation system throughout the world through SWIFT. Cheap, fast, legally recognized, and integrated with banking networks throughout the world. The fall of the dollar is something that is not expected by many countries which means loss and even bankruptcy. In addition, based on the previous American experience in the great depression and subprime mortgages, I think the dollar will remain powerful. Currency domination is America's most important tool in controlling world wealth forever. So America will not stand still if its grandstand is disrupted.

I do not think that it is the case, the reason that the crisis is hitting US hard is the fact that they did no have a comprehensive plan for this problem, the stocks went down because most of the companies have lay off their employees thus lowering their profit and in turn lowering their market value, China on the other hand have experienced so many novel viruses in the past and they have a huge population whiich means they have a huge consumer base and ther market wasn't that affected.

If the pandemic gets worse, then the global economy would be destroyed. The economies of other nations are not immune to the pandemic. So I am not of the opinion that the USD may get disproportionately affected by the virus outbreak. The United States Dollar is not doing that great. If you check the gold price, then it will be clear. But the fact is that the other currencies are doing even worse.

The US economy will be destroyed not by COVID. The upcoming crisis is a result of the government authorities' stupidity. Why wasn't COVID so disastrous for China? Because they could prevent a real collapse.  

in my opinion the Americans will not let that happen,
even though they are currently experiencing a terrible disaster, America is still very strong

I think we should not forget that this is competitive market so US government must try to continue their market of USD. You are thinking for USD! why not for EURO currency or others?  Everywhere there is recession with their currency. Yes, US govt may printing notes to save their economy but be sure that they will control their market gradually within very short time. So don't think otherway.

thanks.

That doesn't explain a high mortality rate

If there were more tests, the mortality rate should have been lower, statistically speaking. It is one of the reported reasons why the death rate is very low in Russia despite it being in the third place by the number of confirmed cases. More extensive testing allows to catch asymptomatic cases which otherwise wouldn't have made it into the stats. It also shows the real death rate, which is below 1%. An outbreak in an isolated shift team caused only half of the people to get infected despite everyone having been massively exposed to the virus there

USD is strong for ex if will be war again, our national currencys will start move to zero, demand for currency of country's without war will be up...

USD is stron strong strong and stron again, because USA is most democratic country.

p.s. waste currency because of Politicians !!! This she*t people move country's around trash conditions !!!

US still in the position and i think after this usd is back again . Many countries have USD reserve for the trading and usd still in good value but we dont know how strong it is because pandemic in US continuously increasing. I hope soon US find a cure in this pandemic.

^ The US has most Covid-19 cases because they conduct way more tests than any other country, including China. If Indonesia, for example, has more testing capabilities, only God knows how many actual cases we have.

As for reserve currency, I believe no countries have only USD in their reserve since they use a portfolio from various asset classes. But sure, they store some portion of USD to stabilize their exchange rates against USD.

Anyways, the US still has the biggest pile of gold (the 2nd position not even close): https://www.statista.com/statistics/267998/countries-with-the-largest-gold-reserves/

There's no doubt that the USD is still the strongest currency in the world. But the fact that the United States of America has the most cases of COVID-19 in the world, might lead to its demise in the future. Compare the US' results in COVID-19 cases vs other countries and you'll notice that the difference is by a large margin. There are average 2 million people infected with the dreaded coronavirus disease in the US, while other countries are still in the "thousand" range. This large discrepancy in results, could lead to loss of confidence in the United States as the leading country of the world. If that happens, the USD might lose its status as the reserve currency of the world in a blink of an eye. The astronomical increase in COVID-19 cases within the US, shows lack of leadership. Other countries have quickly taken necessary precautions in order to contain the disease.

But who knows? Maybe I'm wrong, and the USD remains as the reserve currency of the world after the demise of COVID-19. We'll have to see how everything unfolds during the outbreak in order to determine the future of the American economy. With China already focusing on launching its own digital currency, the US might be left behind if it doesn't "modernize" the USD. A digital dollar implemented at the right time, could maintain the United States as the leading country of the world. Just my thoughts

I don't think the Chinese yuan is a good choice to save your money. As long as the Chinese government resorts to devaluing the yuan in order to increase the competitiveness of goods, you will only lose your money from such an investment. In this case, it is better to spend this 30% on the purchase of EUR.

In my opinion, the economic crisis started before the outbreak of Covid 19. It was the US-China trade war when the US was at risk of losing its hegemony over the global economy. The Covid 19 pandemic only made the economic crisis come faster and faster. This economic crisis will have a much bigger influence than the 2008 economic crisis and we do not know whether the US or China are the winners. Personally, I think China will win this war, I will narrow down my business models, spending 30% to buy yuan, 30% to buy US dollars, 30% to buy. Bitcoin and the remaining 10% are cash. What about everyone's opinions?

Okay, I do agree that USD is very strong and will probably stay as the worlds most prominent currency but there is really no need for the caps on writing and all the !!!! in the message. Just because USD gets less and less valuable and people are not really using it as an investment as much as they used to, doesn't mean that USA is a bad nation. That is one of the problems with politics as well, a foreigner, lets say a European could say that all the american politicians are horrible people but that doesn't mean they hate USA, they just dislike the presidents, I could hate Obama and Trump while also liking Americans.

You think we love our politicians or money? I hate my fiat, that is why I am using crypto, that is why my fiat is something I would never touch if I had the chance. So, please do try to calm down.

USD is most trusted currency in the world !!! Coronavirus etc can''t damage USA economy so hard what dollar collapse. First collapse all other currency. Belarussian's, Russia's, Venesuella's etc...

 USD is a mirror of Real Economics !!! Economics with concurrency etc. Not devil economic like in exUSSR !!!! Most of exUSSR countrys managed by dictators ! Dictators is very bad for peoples living in what coutrys. Dictator's+monopoly's=Love forever.

Look now at Belarus and Ukraine-they are now fighting corruption and dictators !!! They will definitely win this fight from me !!! The dictator makes their "home offices"out of his country.

People's go away from dictators to freedom democratic country's !!!

Mikheil Saakashvili for ex. making technology how fight with corruption and this technology was imported some country's and fight with corruption in Ukraine now !!!

Inflation is inevitable and no country can run away from that. Stop saying nonsense things about the US government unless your country can perform better. No matter how this recession goes, the US will stay the same and it will always be considered as the strongest economy in the world. The US has been on top over decades and there are several crises happening before so that means they do know how to deal with this Covid-19 pandemic. Don't underestimate the power of them. Most of all, Trump is a businessman, he knows what is good for this country and also the world

To do this, the dollar should not remain aloof from technological progress. Therefore, we will soon see that work on the digital dollar has begun. And there are objective reasons for this, which are related to the fact that the bill from the democrats has a proposal to create a digital dollar.

The 80% of the world forex transactions done with US dollar and the most traded pair is EUR/USD according to Bloomberg. The comparisons are useless because the real value of USD is not reflected in daily transactions, so illusional value colors our eyes from an economic perspective. Spot forex numbers show the money flow towards to world's main reserve currency due to the "cash is king" ideology in recessions.