Topic: Will the world soon become tired of the US dollar? - page 3. (Read 1188 times)

I've been hearing the dollar is going to be replaced as the worlds reserve currency for years and years now.  Here's the short and skinny, the United States has the worlds best economy, hands down, non-debatable.  The worlds number two economy is China, whom certainly does import and especially export a lot of goods and services..but they lie about their numbers and everything else for that matter and everyone knows it.  China's best buddies are Russia and North Korea...so what's that tell you.  The Yuan sure a shit won't become the reserve currency.  So which nation would replace it with their currency?  Please..the US dollar isn't losing that title anytime soon.  (I may be from the US, but I don't think this is the best country in the world by a long shot, so there's no bias here)

Empires are not meant to last forever. The Roman Empire was thought to be "invincible", only to be defeated by barbarians. I believe the same fate awaits the US in the long run. Slowly but surely, the US Dollar will lose its position as the reserve currency of the world.

The "de-dollarization" process has already begun. Add to that the rising national debt of trillions of USD, and you will realize that the collapse of American hegemony is imminent. Maybe it won't happen during our lifetimes. But it will happen sooner or later. The question is: How prepared the world is after a sudden collapse of the US Dollar?

The dollar gives a competitive advantage to the US that it can be hard to grasp, then it is clear that other countries will not like this as it is as if they have to work twice as hard to get half of the results, so a commercial alliance to try to become less dependent on the dollar was going to appear sooner or later, however while the US is a single entity, BRICS is a coalition of different countries, with each one trying to look for their own interests, a matter that reduces its effectiveness in a very significant way.

I think the US has more gold reserve that's worth more than the amount of military it has.
The dollar has strong influence in many countries despite the Euro dominance, hence why it is of consequence to any country that abandons it because they would find it hard to conclude any international trade.
The BRICS currency is just to as rightly said, to reduce the influence of the dollar power over major country economies as well as to create a balance where the local fiat will become of value in exchange for the Yen.

In reality, the world is still very dependent on the dollar, for example in the aspect of international trade. Indeed, the BRICS Countries are doing this as an effort to reduce dependency and we must respect that too. Regarding the relevance of the BRICS cryptocurrency, I think that as long as there is supply and demand in the cryptocurrency market, it will work and on the other hand it requires strong cooperation and coordination so that it can run according to the initial goals.

 I mean look at what it took for the US to take over Pound Sterling of Great Britain and replace it with The United States Dollar, a world war and an entire people were at risk in the making of that. That is some serious SH#^$&* for that to happen. The thing that is backing the US mostly is the military , which ours is like 10 times larger than the next? idk but its bigger by a decent margin than any other country for sure....

I highly doubt it.

People have been saying that the US dollar will become less of a reserve currency globally for decades now. And its status has simply not changed. And it's not going to until there is a system reset worldwide where all fiat depreciate in value.

In that instance, I don't think that the replacement would be any other fiat currency either, no matter how strong their economy may be. It is almost guaranteed to be a cryptocurrency, and BTC is the most obvious candidate at the moment.

Fiat, that is, the national money of each state, will exist as long as the states themselves exist. Fiat may change, experience difficulties, strengthen or fall in purchasing power, but it will exist.
If someone is tired of the dollar, they can always use national money. Nobody forces anyone to use the dollar. But if the majority chooses the dollar, it means it is more competitive compared to other world currencies.

It seems so. Although, I'd say we're still early too see the USD collapse. Despite the recent turmoil, the FED has managed to retain the USD's position as the leading currency of the world (thanks to its policies). But rising national debt is what worries most, as it could lead to hyperinflation in the future. Some countries (China, Russia) has gone as far as increasing their Gold reserves to protect themselves from a USD collapse. They're even ditching the "greenback" in favor of other Fiat currencies.

The more countries abandon the USD, the faster the US hegemony will end. Either BRICS' currency or Bitcoin will become the world's next reserve currency. Whatever happens in the future, you can rest assured human society will carry along as usual. Just my thoughts

Please remember, this is just my personal assumption, so what I say is what I think right now
I think yes, the purpose of creating Brics Sara Rasa is that these countries want to be free from the dollar and want new things in the world to not be tied to the US dollar anymore as a means of foreign buying and selling transactions, even some countries use the Chinese currency yuan to keep them rich. Sara, if you want to get away from the US dollar, Bitcoin and Brics are the right choice
what do you think, correct me if I'm wrong

I doubt that, I mean most third world countries currencies are practically worthless, they largely depend on the US Dollar to survive, not to mention the dwindling state of the economy. In these countries, US dollars plays a very important role in determining the economic growth since they some how tied, so the idea of such countries becoming tired of us dollars will largely depend on their ability to stand on their two feet and cut out the dependant on international aid and loans. If this hasn't happened, US dollars will continue to reign supreme.

This is such baseless I mean if fiat fails what will replace it and why do fiat will even fail in the first place? You may say a particular currency is failing which we have seen in the past but don't generalize fiat and as long as country is ruled by government and not by crypto enthusiast. Let's say even if fiat is replaced by something else what would and who would replace fiat and how it's value will be measured? What will be the holding which guarantees the value of post fiat era? Let's not spread too much of negativity and yeah USD's dominance will be reduced especially after what's cooking up with BRICS nations about using their local currency for trade.

People are too lousy these days with the remark that "fiat will fail," but how? Will they now be using your currency? It's time that people should reason and not just say something. If you say that the USD will fail, you might still have a point, and even at that, I mean fail as the world reserve currency. But saying the entire fiat will fail is just an aberration, it will not be possible. Okay, if fiat fails, will it be Bitcoin the world will turn to? That is not a wise thought, no country will want a decentralised asset as their only currency/legal tender. It is not only dangerous for security but also for their economy. As many would always say Bitcoin should be the world reserve currency, but in reality, Bitcoin can't fit in properly due to its characteristics, even the 21 million circulation restriction is a problem itself for it. If at all the world is trying to revolutionise, they will go for the CBDC which is still not what many of you would think. Each country would have its own and not that they will work with Bitcoin or the existing cryptocurrency that they can't control. They will make theirs centralized, and the world might then want to have the general one in place of the USD with time.

They can make it up. Although they already have their own currencies, but they don't accept them for international trade..... world market
What will the new ones change, like yubli and ruani ?!!
International trade currency is an asset that is ACCEPTED and in which other market participants are INTERESTED ! Economy is not "invent your own new currency", it is much more complicated, and as a minimum for this it is necessary to have a status commensurate with the United States or the European Union.
And who are China and Russia?
China is a country with export-oriented economy, dependent on Western investments, technologies and consumption market.
Russia is a third world country with raw material economy and completely fake statuses

The world's changing, right? USA isn't the only big player now. China, Russia, and the whole Asian scene are shaking things up. They might even come up with their own currency for global trade and we just cant stop to imagine that

Inflation is currently a global issue, though it is worse off in underdeveloped countries and regions that have an unstable economy, too many governments around the world have been printing money out of thin air since the period of Covid-19 in order to solve short term problems and create long term inflation.

Notwithstanding all of these, fiat isn't going to fail, at least not the fiat currencies of countries with a stable and healthy economy, as for the countries that do not have a viable economy and with a currency that is as good as worthless, they will probably end up adopting a stronger fiat currency, like the U.S. dollar for example, as many countries do already.

You can issue currency too The question is - who will accept it if it is, for example, a currency that will be accepted for payment only, for example, in China and a couple of other countries? Will they be forced to use it? HOW ?
Well, and most importantly, the objective situation is such that China is beginning to lose ground, although I agree that it is still moving by inertia. But internal problems, political conflicts, dependence on Western markets and technologies do not create a “bright future” for China.

Not to mention that they have made regulations regarding cooperation built in trade areas that involve payments using dollars, they have a policy of buying other products using certain currencies, but there is no opportunity for other countries to buy their products using payments using their own currency. Therefore, the dollar's strength is more complex, so it is difficult for their dominance to just collapse.

The power of the dollar is also considered to be very strong because they open up more influence in other countries both in terms of politics, military and other sectors and perhaps there are many readings that we need to see why the dollar is so dominant. An attempt to dethrone the dollar from currency influence is highly unlikely and I think it would be quite difficult to do.

They are definitely trying to do it for that reason, there is no denying that at all, but that doesn't mean that we are going to end up with anything like that, it just doesn't work that way at all.

I believe that it would be smart to just avoid any type of confusion, it just doesn't feel that way, it doesn't really feel that smart in the end, I believe that we are going to end up with some trouble one way or another if we are not careful and should be doing it for the better. I know that people think that this BRICS currency could maybe take some of the share, but they are already big nations, what makes people think that when all those together using one currency instead of a few, would make any difference? Not like they were all using the dollar before.

What do you mean by crypto transactions fees has increased? Is that suppose to be a green flag for crypto adoption or what because the banks charges are the reason why we want crypto to replace the transactions of the banks but the fees are discouraging especially what has been happening aroung bitcoin mempool and the spamming of the network where it is difficult to do transactions. However, if you are trying to say that the crypto transactions has increased, then I will say that is true and it is because the investors has increased as more troop into crypto in every bullrun.


I'm not sure if you have heard ECOWAS, it's a coalition of different countries across Africa with common goals but today, many of them has left because there is no benefits as some of them expected from the beginning and it has deviated from the vision of the body, don't be surprise if BRICS turn out to be the same thing. It is understandable that they are still new and they are making names because we have so many bad world economy situation but to me, I see this as noise and nothing serious. They might do some of their plans but save all this their noise, they don't have much to give to the world.

US dollar will remain a top tier, perhaps another currency will fight in the future but I don't think it is going anywhere soon. There are many memorandum that is still holding US relationship with many countries, any of them that tried to walk away will feel the pressure from them because US is smart for that matter, they only give you a deal that will only make you to beg them and stick to them for years and many decades.