Usa will find new dollar backer

[OpenCryptoSystem]

Usa will find new dollar backer

If not whole usa dollar will crash down but bidden will do it
Good backer better then gold or oil

With this new backer usa dollar will go strong

[jaysabi]

The dollar is backed by the full faith and credit of the US government. It's always worked because the US has never defaulted on its debt. It'll work until the US defaults on its debt or until people believe that the US can not service the debt. At the rate that it's growing the debt, that may be sooner than later.

[Mauser]

Usa will find new dollar backer

If not whole usa dollar will crash down but bidden will do it
Good backer better then gold or oil

With this new backer usa dollar will go strong

I don't fully understand. Do you mean that the USD is going to be pegged again to another commodities? Like it was with Gold in the 50s? I am not sure if USA is really looking for such a trade for a future. Most of the countries let their currencies trade freely and don't actively trade on the market. The risk to become a target of hedge funds is just too high.

[jaysabi]

There’s a spate of posts in this forum by this poster recently that all have no coherent point and are low effort posts. OP shouldn’t be regarded at this point as anything other than a spam poster.

[odolvlobo]

Usa will find new dollar backer
If not whole usa dollar will crash down but bidden will do it
Good backer better then gold or oil
With this new backer usa dollar will go strong

The dollar will never be backed by anything ever again. You can't put the djinn back in its bottle. The junkies need their fix.

The dollar is backed by the full faith and credit of the US government. It's always worked because the US has never defaulted on its debt. It'll work until the US defaults on its debt or until people believe that the US can not service the debt. At the rate that it's growing the debt, that may be sooner than later.

A lot of people say that, but it is nonsense. The U.S. will always be able to pay its debt and it will never default because it can print as many dollars as it needs, but at some point those dollars will be nearly worthless.

[actmyname]

The dollar will never be backed by anything ever again. You can't put the djinn back in its bottle. The junkies need their fix.

Why would a government change a major source of its power? Manipulation of the currency with arbitrary rules in an environment where money is king means that once again, the rulers can orchestrate their puppetry from beyond the shadows.

Being able to print all of this money just dilutes the purchasing power of everyone who holds cash instead of hedged assets. One wonders why Bitcoin is rallying so much: it's not as if it's backed by anything, unlike fiat, right?!

[romero121]

USD won't get backed by any other commodities. To back any currency isn't a simple thing. Different factors will be taken into consideration. Can you state or mention any one commodity/asset that has the potential to back USD. I don't understand what Biden will do it ? Just on his own he can't make any decision, a country has got several rules framed for the flawless operation. To make a change it needs to follow lot many procedures, no commodity will be putforth to back USD by any of the authority.

[Husires]

If you are betting on the collapse of the dollar or real changes affecting the dollar during bidden era, your bet is a loser.

The dollar is weak, but it will not happen that people lose their faith in the dollar, it represents the power of America and the centrality of the world. This will only change with a comprehensive global war that changes the balance of power, something that will not happen in the near future.

Changes currently taking place to keep pace with the pandemic and to deal with politics.

[daniex3000xp]

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[BrewMaster]

US dollar hasn't really been backed by anything for a very long time now and this trend can not be changed and i don't think it matters any more either.
the value of dollar has been based on the power of US and the faith that the world had in that power alongside the US itself bullying everyone into using USD and nothing else.
but as US continus having internal issues including the shitton of dollar they printed this pat months and with all the stupid forign policies that pushed every ally away, the value of USD keeps decreasing.

[Fesatmas]

Usa will find new dollar backer

If not whole usa dollar will crash down but bidden will do it
Good backer better then gold or oil

Actually America does not need to find new supporters of the Dollar, because basically all countries and bitcoin users are very dependent on the dollar. it's just that now America needs to do one thing, namely full support for cryptocurrency adoption. If not then I think America will gradually lose its supporting dollar.

[fiulpro]

Most of the currencies in the real world they aren't backed by anything but the Government itself. Now what does it do ?

For example there is a currency : *x*backed by gold
So now anyone in the possession of this currency can actually ask the government for gold equivalent to x !! Now this might be really weird for the country and might even have times of inflation and recession. The whole currency itself won't be stable .

Now backing a currency up by the government itself means it's dependent on the economic situation of the country itself and we all know that the economic situation is more or so, stable indeed unless and until a major problem arrises.

So to make dollar strong one would have to work on the economic situation of the country itself.

[wxa7115]

Usa will find new dollar backer

If not whole usa dollar will crash down but bidden will do it
Good backer better then gold or oil

With this new backer usa dollar will go strong

I don't fully understand. Do you mean that the USD is going to be pegged again to another commodities? Like it was with Gold in the 50s? I am not sure if USA is really looking for such a trade for a future. Most of the countries let their currencies trade freely and don't actively trade on the market. The risk to become a target of hedge funds is just too high.

That is what I understood as well, and while that may actually happen I do not think the OP understands the implications of that move, the US cannot simply back their dollar with gold in order to avoid the collapse of their currency, the currency needs to collapse first so they can pay their debtors with as little products and services and possible in return from their money, otherwise the US will have to pay with an equivalent amount of services and products they have received over the years.

This is a scam, the rest of the world gave the US government useful products and services and the US governments just printed a few pieces of paper, only once it is completely clear that a collapse is ongoing the US government will consider adopting once again the gold standard.

[jacafbiz]

Dollar is a Fiat and so are all the Fiat currencies we have now, For me as long as US has the strongest economy in the world the trust in USD will remain strong. I have seen people mentioned many currencies as the currency to dethrone USD but none of them have the trust level of USD, ask Chinese which currency do they prefer USD or Yuan, many will pick USD

[Smartprofit]

US dollar hasn't really been backed by anything for a very long time now and this trend can not be changed and i don't think it matters any more either.
the value of dollar has been based on the power of US and the faith that the world had in that power alongside the US itself bullying everyone into using USD and nothing else.
but as US continus having internal issues including the shitton of dollar they printed this pat months and with all the stupid forign policies that pushed every ally away, the value of USD keeps decreasing.

The United States continues to be a very powerful power.  

The US has nuclear weapons, a huge army, a strong economy, technology, an educated population, and good demographics.  However, in recent years, many mistakes have been made in domestic and foreign policy.  These mistakes led to the strengthening of China's position and deterioration of relations with Russia and Germany.  At the same time, the economic situation in the United States has deteriorated significantly (this is due to the huge external debt).  

At the same time, until recently, the US dollar was the world's reserve currency.  

This imposes a great deal of responsibility on the United States - such a country simply does not have the right to make mistakes and behave inappropriately.

[Reid]

Dollar is a Fiat and so are all the Fiat currencies we have now, For me as long as US has the strongest economy in the world the trust in USD will remain strong. I have seen people mentioned many currencies as the currency to dethrone USD but none of them have the trust level of USD, ask Chinese which currency do they prefer USD or Yuan, many will pick USD

Are they really still a country with the strongest economy now?
Just like others said here, it is backed by faith.
Faith being as one of the strongest countries there is. Besides that what can they offer? Another war?
It might not be now but if peace will stay for long then they might really go down.
We all know what countries are in the spotlight now and they are rushing to take that top rank.

[zanezane]

The dollar is backed by the full faith and credit of the US government. It's always worked because the US has never defaulted on its debt. It'll work until the US defaults on its debt or until people believe that the US can not service the debt. At the rate that it's growing the debt, that may be sooner than later.

Nope, not full faith or credit from government, US dollar is backed by the government itself, not to mention that gold still in a way influences the economy of this capitalist monkey suits. The debt does not necessarily mean that it will grow strong, most debts by US are already payed by favors that benefit the lenders in a slight manner, they just want to make it look like the Government still has some debts that needs to be settled to further milk the population that pays taxes.

[davis196]

Usa will find new dollar backer

If not whole usa dollar will crash down but bidden will do it
Good backer better then gold or oil

With this new backer usa dollar will go strong

Do you really think that the USA needs a strong dollar?
I think that a weak dollar will lower the value of the US national debt.As you might now,the US debt is valued in dollars,but the Federal Reserve can print as many dollars as they want to pay for budget spending and debt payments.The US creditors will just get low value dollars and USA won't go bankrupt.
At this point,the US dollar can't be backed by any asset.The golden standard didn't work,because it created a massive gold deficit inside the US.

[el kaka22]

There is no need to back USA with anything but the weapons they have. They are by far the strongest nation in the world, doesn't matter how "rich" china gets, people around the world will not want to deal with China as a super power because they are run with a dictatorship, so they will go with USA anyway, and because people think it is land of the free (which is a bs, it is basically two parties that are the same, presidents change, nation stays the same) USA will continue to be the strongest in the world.

We have seen multiple republican presidents ruining the nations finances like crazy but at the end of the day we do not have any other super power right now that can get whatever they want done, but USA still can do that. So, Dollar will always be powerful no matter what, it is not a matter of will it or won't it, it is about how they can still do it.

[Sterbens]

Dollar is a Fiat and so are all the Fiat currencies we have now, For me as long as US has the strongest economy in the world the trust in USD will remain strong. I have seen people mentioned many currencies as the currency to dethrone USD but none of them have the trust level of USD, ask Chinese which currency do they prefer USD or Yuan, many will pick USD

The fact is like that, Chinese citizens can only use the yuan in certain countries and I still don't believe it. because the USD remains the world's currency which continues to be used as a benchmark for the fiat value of any country. American power must be renewed to increase public trust. USD needs to create a safeguard system in terms of sustainable economic prosperity. if not, the porcelain will gradually slip into the void. Remember YUAN strategy of making some countries compliant because of their debt to the Chinese government.