My question is that with the way many powerful and influential countries are now dumping the USD, will it cause a significant reduced trading volume that will make the dollar no longer to be the most relevant currency in the foreign exchange market?
Not really cauwe we knew that US still the number 1 country when it comes to currency. Yes there may be significant downfall on their side, but knowing them? I doubt it. Id imagine that they could do anything that could boost their currency's value. This may be a long path but they will eventually bounce back everytime. You think China or Russia could surpass them? Maybe at somepoint but we also can see how competitive the USD it is. 
Topic: Will the USD loose it's kingship? Who will it loose it to? - page 2. (Read 333 times)
No one knows — but one thing's for sure, it will take a while for it to happen if it were to happen. And while it will likely be a major country(or BRICS) that would replace it(if it actually happens), let's just hope that it's BTC lol.
I hope that The Bitcoin Standard: The Decentralized Alternative to Central Banking will replace both Gold standard and USD standard.Yup, and that's what will actually happen if most of them have already dumped it and they're transitioning into using another currency that they think is better than USD at these times. This is also one of the worries of the US government for which they're making a lot of things relatively to their economic policies and as well as being too active with foreign allies and putting more money into it things that shouldn't be funded by them. I guess this is where it's really going because no one's gonna be on top forever.
The USA maintains their position very well since World War II but the world will continue to change and they can lost that position. The rising growth of China in both economic, geopolitics and their aggressive policies globally are dangerous for the USA position and their fiat currency US dollar.Will we have a new fiat currency standard without another World War? Hopefully no such World War in future but the US dollar will lose that standard position if something very big happens over the world.
I was reading on some of the reasons why the USD is king in the foreign exchange market and some of them are;
It is the most traded currency,
It is the foreign reserve currency of many countries etc...
My question is that with the way many powerful and influential countries are now dumping the USD, will it cause a significant reduced trading volume that will make the dollar no longer to be the most relevant currency in the foreign exchange market?
Yup, and that's what will actually happen if most of them have already dumped it and they're transitioning into using another currency that they think is better than USD at these times. This is also one of the worries of the US government for which they're making a lot of things relatively to their economic policies and as well as being too active with foreign allies and putting more money into it things that shouldn't be funded by them. I guess this is where it's really going because no one's gonna be on top forever. It is the most traded currency,
It is the foreign reserve currency of many countries etc...
My question is that with the way many powerful and influential countries are now dumping the USD, will it cause a significant reduced trading volume that will make the dollar no longer to be the most relevant currency in the foreign exchange market?
No one knows — but one thing's for sure, it will take a while for it to happen if it were to happen. And while it will likely be a major country(or BRICS) that would replace it(if it actually happens), let's just hope that it's BTC lol.
It would be good if countries start to adopt bitcoin and be using it as a foreign reserve. But can this be possible? See how gold is, for decades or centuries, dollar still dominate the foreign reserves. Another thing is that you will see gold excluded and be separated because it is a commodity, categorizing only fiat. With how the government are doing, they are not ready to adopt bitcoin like gold yet, but this may chance overtime. As to what I think, the dollar will stay there for decades if not centuries
The U.S. dollar remains the most actively traded currency, and its dominance has been relatively stable over the past decade.
While there has been a decline in the dollar's share of global foreign-exchange reserves, this doesn't necessarily indicate a significant reduction in trading volume.
If there will be any major changes, it's likely going to be gradual and influenced by multiple factors.
While there has been a decline in the dollar's share of global foreign-exchange reserves, this doesn't necessarily indicate a significant reduction in trading volume.
If there will be any major changes, it's likely going to be gradual and influenced by multiple factors.
No one knows — but one thing's for sure, it will take a while for it to happen if it were to happen. And while it will likely be a major country(or BRICS) that would replace it(if it actually happens), let's just hope that it's BTC lol.
My question is that with the way many powerful and influential countries are now dumping the USD, will it cause a significant reduced trading volume that will make the dollar no longer to be the most relevant currency in the foreign exchange market?
The world always changes so does world economics. The USA. can lose its first powerful position and leading role so when the nation loses its leading position, its fiat currency will lose its value in the world economics too.Gold is no longer be considered as a world standard and gold standard is only a past story. I see big challenge from China for the USA. from science, economics to politics but the USA. has better social and political systems which give me a faith that they will be a better nation than China. China will still be a big competitor for the USA.
I think the US. dollar will not lose its leading position too soon.
You said "many powerful and influential countries are now dumping the USD", where is the source?
It doesn't happen overnight mate, but I have belief that with time the USD will lose its Kingship as more nations keep adopting other alternative currencies when holding trades between themselves. When you really look at the emergence of regional economies like BRICS which keep getting more popular each passing year, you kind of notice a loss of confidence in the US dollar and other forms of currencies from the West and this will be one of those game changing moments in the years to come.
I do not think there is any currency that will compete with US dollars because it has huge margin if compared to others. The second is Euro and I do not think Euro can take the place of United States dollars with what are going in the world.
I would also agree with you, because aside the Euros the other currency that many think will overthrown the dollars is maybe the Chinese Yen. But even with the current crises facing dollars it still has the liquidity. And countries wouldn’t want to hold or reserve another central currency like the yen in exchange for dollars because the economic and worries that they fear with dollars is there with the yen too.
My observation is people will actually look to more decentralized currency, and a currency that can actually hedge against inflation so that there won’t be much of worry during economic downturn. So it could be the Gold because it is a great store of value and its limited supply is another advantage. Over few years now central banks are actually holding more Gold.
I only see it as an alternative for the main time and it can not be a central currency already or reserve
In the last 10 years, US dollars in foreign reserves account for slightly more than 70% of the total foreign reserves, but down to 60% as of this year. In more decades ago, US dollar did not account for up to 60%. The second reserve currency is Euro which accounts for 20%.
https://realeconomy.rsmus.com/why-the-dollar-remains-the-worlds-reserve-currency/
https://crsreports.congress.gov/product/pdf/IF/IF11707
Among the traded currencies, US dollars accounts for over 80%: https://en.m.wikipedia.org/wiki/Template:Most_traded_currencies
I do not think there is any currency that will compete with US dollars because it has huge margin if compared to others. The second is Euro and I do not think Euro can take the place of United States dollars with what are going in the world.
https://realeconomy.rsmus.com/why-the-dollar-remains-the-worlds-reserve-currency/
https://crsreports.congress.gov/product/pdf/IF/IF11707
Among the traded currencies, US dollars accounts for over 80%: https://en.m.wikipedia.org/wiki/Template:Most_traded_currencies
I do not think there is any currency that will compete with US dollars because it has huge margin if compared to others. The second is Euro and I do not think Euro can take the place of United States dollars with what are going in the world.
I was reading on some of the reasons why the USD is king in the foreign exchange market and some of them are;
It is the most traded currency,
It is the foreign reserve currency of many countries etc...
My question is that with the way many powerful and influential countries are now dumping the USD, will it cause a significant reduced trading volume that will make the dollar no longer to be the most relevant currency in the foreign exchange market?
It is the most traded currency,
It is the foreign reserve currency of many countries etc...
My question is that with the way many powerful and influential countries are now dumping the USD, will it cause a significant reduced trading volume that will make the dollar no longer to be the most relevant currency in the foreign exchange market?
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