What If? - page 3. | Bitcointalksearch.org

Lucius

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Quote from: laredo7mm on January 24, 2022, 01:45:20 PM

We recently saw the USA is thinking about another sanction to Russia. We know this will take a negative impact on Russia's economy.

Russia has been under sanctions for years, and even if the US and its vassals impose some new ones, after so long it will not mean much to Russia. If we look at who are the most important trade partners, then we see that China is dominant (imports & exports), while significant places are occupied by the Netherlands, Germany and Belarus (data for 2017). The US may influence Germany or the Netherlands in their decisions, but China, as its most important trading partner, has never and will not support any sanctions against Russia.

Quote from: laredo7mm on January 24, 2022, 01:45:20 PM

But what if Russia ally like a chain, Iran and other countries stop accepting US dollars for import and export goods from other countries. We all know China has one of the biggest markets in the world and in 2020 USA imported $434.7 billion worth of goods from China. So what will happen if the Anti-USA countries agreed to this and stop accepting us dollars. Actually, I want to know is it possible for them to do that? What is your opinion about it?

This is an option that is on the table and has already been announced by Russia in light of recent events. So even though it would have been expected earlier that all those countries to which the US is constantly imposing sanctions and creating problems will reject US $, it does not seem that this is something they want to do so easily. The US has too much influence in the world, and as much as someone dislikes them it’s hard to get out of their grip.

Quote from: https://www.cnbc.com/2021/06/03/us-sanctions-may-see-russia-ditch-dollar-denominated-oil-contracts-novak-says.html

Russian Deputy Prime Minister Alexander Novak on Thursday said the oil and gas-rich country may soon be tempted to move away from U.S. dollar-denominated crude contracts if President Joe Biden’s administration continues to impose targeted economic sanctions.

I remembered one piece of news from 2019 -> Russia's Rosneft to switch to euros in oil products tenders - traders

TheEconomists

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How do you know that US is thinking of such a thing? I believe your assumption or speculation is not true and if peradventure is come to pass then the effects will not be as much as you think because the bon of contention will be resolved amicably to avoid further excavation of its effect.

laredo7mm

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Quote from: paxmao on January 24, 2022, 02:24:03 PM

Quote from: laredo7mm on January 24, 2022, 01:45:20 PM

We recently saw the USA is thinking about another sanction to Russia. We know this will take a negative impact on Russia's economy. But what if Russia ally like a chain, Iran and other countries stop accepting US dollars for import and export goods from other countries. We all know China has one of the biggest markets in the world and in 2020 USA imported $434.7 billion worth of goods from China. So what will happen if the Anti-USA countries agreed to this and stop accepting us dollars. Actually, I want to know is it possible for them to do that? What is your opinion about it?

You would be talking about a bunch of countries that would, in theory, form a group and decide that they would want to boycott the USA by not accepting US.

The first obstacle is that USD is widely accepted because you can buy crude oil with it. Just like that. The easiest way to boycott dollar would come from oil producing countries. An guess what, a large number of them are actually allies of US because they fear other more and their rules do really well with Capitalism.

Russia, Iran, Venezuela are also some of the largest oil exporter countries that are anti-USA. So I do not think all of them need to boycott USD to make a difference in the world economy. Russia exports 11% and Iran 4% of the world's total oil production. Crude oil is the being the most demanded commodity that the world needs to run their machinery right now. So a little bit of disruption in supply could shake the economy.

jrrsparkles

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Quote from: laredo7mm on January 24, 2022, 01:45:20 PM

We recently saw the USA is thinking about another sanction to Russia. We know this will take a negative impact on Russia's economy. But what if Russia ally like a chain, Iran and other countries stop accepting US dollars for import and export goods from other countries. We all know China has one of the biggest markets in the world and in 2020 USA imported $434.7 billion worth of goods from China. So what will happen if the Anti-USA countries agreed to this and stop accepting us dollars. Actually, I want to know is it possible for them to do that? What is your opinion about it?

If any country stops the import and export the loss is for their economy as well, we can't always see from the revenge perspective in the world political the leaders know how to handle them smooth and just keep them in pending so their economy won't be in critical position until their ruling period ends.

cornhodlr

jr. member

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Russia relies heavily on oil price but they are well above their break even price now so they are making plenty of money to top up their 650 billion dollar cash reserve.Plenty of countries will keep buying their oil and Germany no matter what anyone says will ensure nordstream is operational bypassing ukraine.This is what the real issue is about and not so much the waring factions.Ukraine is buthurtabout not being a middleman for european gas transit.Russia has more agricultural landmass than any country and could easily reduce its 40% to 20% regaarding imported foodstuff.The US is a dying empire who cannot even beat towel headed extremists driving pickups.The EU is only an experiment for central bankers and european aristocrats which in the end will either self destruct or be ran over by Russia or China.The EU is now an autocratic bloc ran by scummy fuckers their citizens hate.

Hydrogen

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I remember reading news articles about russia seeking ways to insulate its economy from SWIFT banking networks many years ago. There have been many journalistic pieces published on russia seeking ways to de dollarize and distance itself from being pegged to the dollar as an international reserve currency. Likewise, russia has had many years to find solutions to economic sanctions.

Its surprising to me russia's economy hasn't become more hardened against crashes over the years considering they appear to have had support at the highest levels seeking answers for how to deal with these types of crisis.

Does anyone know which commodities or assets russia is dependant upon foreign nation's for?

I think russia has a scarcity of food production. They're forced to rely on china for food imports. That appears to be one key issue they have been unable to resolve. Wouldn't the simple solution be for russia to grow more food? But somehow it to doesn't appear to be so easy. Putin doesn't appear able to make it happen. It makes no sense to me. Russia is such a massive territory on maps, do they really have no farmland? The poor american in me fails to comprehend this situation at all.

sheenshane

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There could be a war if that will happen and many economies will crash once dollars fall down.
Maybe because the function of this US financial system is to facilitate dollar denominated transactions. And when it comes at the point dollar will become denominated, all transactions lost their value all together with the US financial system. There could be suffering consequences if your what if will happen.

AFAIK, countries didn't accept dollars are include Republic of El Salvador which is are now embracing Bitcoin and there are more of them.

hatshepsut93

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Then their economy crashes, people riot, government dissolves, etc. They don't get to choose which currency to accept, because they are economically weak. Sure, they can trade between themselves with whatever currency they want, but they are very reliant on trade with the West. These countries from time to time actually talk how they plan to ditch the US dollar, and so far nothing like that happened.

sunsilk

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They'll seek help from China as it's now one of the big countries that can help them to improve their economy. But knowing that this is Russia having sanctions, I think that they can handle it alone, they're also a large country that has resources and they won't stop since they're also competing against the USA.

Turkey stopped the connection to the USA and USA has given them the impact that they don't like. Maybe similar can happen to their economy but we don't know yet exactly how it will go until we see it.

paxmao

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Do not die for Putin

Quote from: laredo7mm on January 24, 2022, 01:45:20 PM

We recently saw the USA is thinking about another sanction to Russia. We know this will take a negative impact on Russia's economy. But what if Russia ally like a chain, Iran and other countries stop accepting US dollars for import and export goods from other countries. We all know China has one of the biggest markets in the world and in 2020 USA imported $434.7 billion worth of goods from China. So what will happen if the Anti-USA countries agreed to this and stop accepting us dollars. Actually, I want to know is it possible for them to do that? What is your opinion about it?

You would be talking about a bunch of countries that would, in theory, form a group and decide that they would want to boycott the USA by not accepting US.

The first obstacle is that USD is widely accepted because you can buy crude oil with it. Just like that. The easiest way to boycott dollar would come from oil producing countries. An guess what, a large number of them are actually allies of US because they fear other more and their rules do really well with Capitalism.

jackg

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https://bit.ly/387FXHi lightning theory

Most large companies in the US have subsidiaries in the EU - so they can just use European currencies. I doubt much will actually change if China decided to "stop" accepting dollars (even though it probably doesn't have power to do that and doesn't want anyone holding its own currency for long).

laredo7mm

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We recently saw the USA is thinking about another sanction to Russia. We know this will take a negative impact on Russia's economy. But what if Russia ally like a chain, Iran and other countries stop accepting US dollars for import and export goods from other countries. We all know China has one of the biggest markets in the world and in 2020 USA imported $434.7 billion worth of goods from China. So what will happen if the Anti-USA countries agreed to this and stop accepting us dollars. Actually, I want to know is it possible for them to do that? What is your opinion about it?

Topic: What If? - page 3. (Read 481 times)