Currencies are Collapsing Everywhere.

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The Dollar Index hit 114.5 so that's the day which the basket of currencies that the dollar is weighted against and that is incredibly high so also the dollar is downtrend the RSI broke its downtrend which is pretty bad news for the rest of the global currencies like the pound did you see what the pound did so the pound fell to a record low of 1.03 and the dollar so I'm going to go over the British pound against the US the dollar quick brings you back to the 1800s  during the

In the 1800s there it was five dollars to one

British pound the Napoleonic Wars 3.62 now going all the way to World War Two it was 3.25 dollars to the Great British pound now you had the great financial crisis

that was 1.35 Brexit which was 1.2 and
then right now you have 1.03 Ben Richards you've probably seen him on.

we are seeing a complete control
demolition of the entire economy
plus I think what they're going to be
doing is bringing out a central bank
the digital currency so the more that they
can make these currencies destabilize
the more that people will accept a
central bank digital currency that is
very stable but over the long run you

know they can decrease the value of it

easily and there's no

transparency whatsoever they are

frothing for a CBD right now.

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[uneng]

Central banks can do anything they want, but nothing is going change the fact fiat currencies will colapse at some point, because their system has been unsustainable since the beginning.

CBDCs can be introduced, but they mean nothing different from fiat. In fact it is just a digital crypto version of fiat currencies which will remain centralized and devalued by inflation. I believe the reason central banks are going for CBDC is because it will be easier to track and control citizens' funds. It's an efficient tool against money evasion.

[zasad@]

The dollar index cannot grow for a long time and soon speculators will buy cheap assets for an expensive dollar. People no longer trust banks, because you can lose money at any time. The CBDC will make it easier for regulators to control finances, and most banks will be forced to close or become subsidiaries of larger global banks.

[KingsDen]

The dollar index cannot grow for a long time and soon speculators will buy cheap assets for an expensive dollar. People no longer trust banks, because you can lose money at any time. The CBDC will make it easier for regulators to control finances, and most banks will be forced to close or become subsidiaries of larger global banks.

Currencies are collapsing on a serious note and one fun thing about it is that people whose currencies are affected are busy buying dollar thinking that dollar is a safe haven since it seems that it's gaining strength against other currencies.
But all these makes me scared and like I am so much scared that the financial system could collapse. I don't know if I'm going weird or I'm in order.
In the crypto,  anything that goes up must surely come down, I don't know if this will apply to dollar because dollar is very much over bought and the ending result might not be funny to the world economy.

[theskillzdatklls]

It's all absolutely crazy. Europe is a total shitshow right now:



And all of that is happening while the US is showing their fake CPI on 8.x% prints (but really around 17% when using original data).

But because of so much QT, there's not enough money to flow into crypto. Even if there were, it probably wouldn't. Because crypto isn't a true safe haven because there's not much that people can do with it still, yet.

I do continue to believe crypto is one of the best places to store wealth, but things are very whack right now for sure. Especially with this upcoming winter.

[YUriy1991]

I think it's also important to remember that all of this happens due to a variety of factors, most of which are beyond our control. In other words, if history has shown us anything, it is that the global economy is cyclical and far more complex than many people think.

This event will happen at some point in the near future, and it will lead to a financial crisis that changes the world and The next few years are likely to be very volatile, and it will be more important than ever for people to plan for the worst.

I think the key to dealing with a volatile market is to be prepared for what might happen next and knowing how your assets will handle it.

[adaseb]

Yes and this is a big problem. People are expecting the fed to stop rising rates because they are seeing cracks forming. And they are expecting the fed to slightly lower interest rates also. However this is not good if inflation prints are still high. Here in Canada we are getting expensive gas prices again even crude oil is down.

Housing is a problem because rents are high. Way too many new landlords out there who are renting out or AirBNB and this is what is causing this housing shortage and increased rents. And there is food prices. You got no choice but to buy food so this affects everyone. Not looking good honestly.

[pooya87]

It is not "everywhere" it is mainly in US and Europe that the currencies are dumping hard. In other places things are normal meaning they have the same inflation they had before without it changing or some currencies actually went up. Russian Ruble is a good example that has been soaring and last I checked it had reached a 5 year high.

As for CBDC, I don't see how that's any different though. Their price is the same as the local fiat the country has not something different. Not to mention that if the banks aren't observed well enough, they could actually be increasing the liquidity (print more money than they should) and cause more inflation so these currencies dump even more.

[Gyfts]

But because of so much QT, there's not enough money to flow into crypto. Even if there were, it probably wouldn't. Because crypto isn't a true safe haven because there's not much that people can do with it still, yet.

The federal reserve was trying to play a balancing game with inflation and their hope was to not slam the breaks in hopes of avoiding a recession -- call it a soft landing if you will. Seeing as the USD inflation rate is still out of control regardless of the interest rates, fed will avoid the soft landing and accept that recession is unavoidable. To your point on money flowing to crypto, I think if the U.S. economy is thriving, then the crypto industry compartmentalized within is thriving. Obviously the U.S. economy is in ditch, and so is Bitcoin's current price.

I'm patiently waiting the Q3 GDP reports, I'm predicting a bloodbath.

[hugeblack]

Have you measured that currencies are collapsing based on what happened to the pound sterling, which did not fall much if compared to the currencies of many countries.
The policies followed by Britain at the present time seem chaotic, so the results directly affect the price, but this does not mean that this will continue for a long time.
As for what will happen in the rest of the currencies, the reason is most likely to be the monetary tightening policy followed by the United States, but within a year or two things will return to normal.

[theskillzdatklls]

But because of so much QT, there's not enough money to flow into crypto. Even if there were, it probably wouldn't. Because crypto isn't a true safe haven because there's not much that people can do with it still, yet.

The federal reserve was trying to play a balancing game with inflation and their hope was to not slam the breaks in hopes of avoiding a recession -- call it a soft landing if you will. Seeing as the USD inflation rate is still out of control regardless of the interest rates, fed will avoid the soft landing and accept that recession is unavoidable. To your point on money flowing to crypto, I think if the U.S. economy is thriving, then the crypto industry compartmentalized within is thriving. Obviously the U.S. economy is in ditch, and so is Bitcoin's current price.

I'm patiently waiting the Q3 GDP reports, I'm predicting a bloodbath.

I think preliminary data is already in, and Q3 is soft confirmed to be another negative quarter making 3 in a row now.

Of course, due to partisan reasons, strong arming the NBER, the midterms, this data will be slow to release to the public.

[bittraffic]

they are frothing for a CBD right now.

Sounds like a plan. But What we need by now to establish trust is a currency that is backed by Gold. If its just CBDC, it will not be a good thing still. I doubt people will be going for it.

While on the other side Russia and China are planning to have thier own system similar to Bretton Woods Agreement which they also have BRICS bank and probably something like IMF as well.

[Smitty Werben Man Jensen]

Dollar is making the markets go  wierd. Euro fell to the level of dollar, yen fell. So did other major currencies. The reason is simple rise of interest rates by federal banks. Hope it will end soon...

It is a fact that the market is chaotic and for sure there are many reasons,
this condition is certainly not easy and surely we all hope this can end soon,
let's follow the progress and see what it will be like

[davis196]

Many economists think that having a strong currency is a bad thing.
Weak and devalued currencies make the exported goods and services cheaper and the imported goods more expensive.
Having a devalued currency can help for achieving an active trade balance of a country(according to some economists).
I don't agree with this theory. The US dollar is getting weaker, but the trade balance of the USA is still negative.
Maybe this is due to the US dollar being a more of global currency, rather than a national currency.
There are many factors, that determine the value of the fiat currencies. We can't explain the movements on the fiat currency markets with the interest rate hikes only.
Fiat money might be losing their value everywhere, but it seems that crypto isn't gaining any value anywhere.

[palle11]

Printing a lot of money makes people to realize the real value of a fiat money and that’s why many countries already on a trial phase with regards to their digital money with a hope that this can help solve the problem they are experiencing right now. Many countries already turned down USD as they reserve, and soon many will do this as well. CBDC is a good option for the government to stay control, because if they lose control over their people, they will collapse badly.

Strengthening of individual currency is not going to be from cbdc. The government of different countries that are introducing that are doing so to try and hold to their currency, to try to regulate it and monitoring but they are failing in the total aim of preserving the value of the currency when they still allow the dollar in flow of the currency for use in the country. The dollar is now determining the value of the local currency, this is the problem for some of those countries but their government not recognizing that. However, I have read some countries have strict rule against the use of dollar or exchange of it or where it will be seen except when necessary. In such countries, the use of dollar is strictly for international purposes and not to be found with individuals in homes or government officials.

[Fortify]

The Dollar Index hit 114.5 so that's the day which the basket of currencies that the dollar is weighted against and that is incredibly high so also the dollar is downtrend the RSI broke its downtrend which is pretty bad news for the rest of the global currencies like the pound did you see what the pound did so the pound fell to a record low of 1.03 and the dollar so I'm going to go over the British pound against the US the dollar quick brings you back to the 1800s  during the

In the 1800s there it was five dollars to one

British pound the Napoleonic Wars 3.62 now going all the way to World War Two it was 3.25 dollars to the Great British pound now you had the great financial crisis

that was 1.35 Brexit which was 1.2 and
then right now you have 1.03 Ben Richards you've probably seen him on.

know they can decrease the value of it

easily and there's no

transparency whatsoever they are

frothing for a CBD right now.

It's a blend of the US economy doing extremely well, along with quantitative tightening (aka not printing money at the vast scales we saw through Covid and before). The US has relative energy independence as well when you compare it to Europe, while they also produce a lot of high end products which are sold elsewhere. It's actually rather damaging to America in the long run to have a surging dollar because it makes their exports less attractive to overseas buyers in future. We're seeing the UK government destroy their economy through incompetent policy rollouts, while Europe is struggling in the midst of the energy crisis and war on it's borderline region.

[jossiel]

Well, it has something to do with the reset and it happens and we've been so long not experiencing it so the FED has the first move of it. I thought that it'll start exactly during the pandemic but it has took 2 years before they initiated it.

Thinking on how it is easy for the FED to control the entire market and economy of the world by just increasing the rates. Despite them have printed a lot of money still, it's like they're having the control of it.

It's like majority of the countries are being sanctioned by them.

[Vaskiy]

Countries are pushing to develop their own CBDC, taking into account the best way to have control over the people's money. Very few countries are in the exception list, while majority of the countries face the currency value collapse. In most of the countries election time controversy is going to be the collapsing currency value. In my country a major variation is experienced against dollar and hope this will be a big problem for the ruling government in the upcoming election.

[Republikcoin.com]

It is a fact that the market is chaotic and for sure there are many reasons,
this condition is certainly not easy and surely we all hope this can end soon,
let's follow the progress and see what it will be like

What developments to follow if you yourself say the market is in chaos?
I'd like to know some of the reasons you might know about the cause of the market turmoil you're talking about. Try to express it here so that the discussion becomes more interesting because everyone at this time has a different view of market conditions and also the condition of the world economy.

[livingfree]

Countries are pushing to develop their own CBDC, taking into account the best way to have control over the people's money. Very few countries are in the exception list, while majority of the countries face the currency value collapse. In most of the countries election time controversy is going to be the collapsing currency value.

Even if they push to have their own CBDCs, nothing that much change as the only change that can be seen with that develop is they've migrated some of their fiat's supply into the internet and made it digitally.

In my country a major variation is experienced against dollar and hope this will be a big problem for the ruling government in the upcoming election.

It's happening to most countries because we're all suffering with the fed's increased rate and we'll how the world will react again as they've called for an emergency meeting today.