The world continues dumping US dollar (Gold, New World Order, World War III)

[Smartprofit]

Currently, in my opinion, there is no direct threat to the US dollar.

The modern financial system is designed in such a way that any serious global economic crisis leads to the fact that the US dollar is growing in price relative to other national currencies. The hostilities between Russia and Ukraine, the sanctions war, the cessation of natural gas supplies are destroying both the economy of these two countries themselves and the economy of Europe.

At the same time, the United States (remaining in a position above the fight) does not bear any economic, financial, or reputational losses. This ensures that the US dollar remains the world's reserve currency.

At the same time, gold, which in theory could become an alternative to the US dollar in terms of its physical characteristics, is poorly suited for use in everyday financial transactions, remaining mainly in the role of a conservative reserve asset.

There is no direct thread to the US Dollar? Preposterous. Even if you overlook other countries from the picture, the US is the threat against its own currency! The global financial crisis is a prime example of this. The banking system is not made to support the dollar positively and yet it has so much control over its supply...politics are not looking out for the interests of its people but instead corporations that seek to exploit them. All three of these interests, banks politicians and corporations (it bears repeating for banks) might seem like they help the economy thrive however they do not in any way positively influence the long-term success of the US dollar, the country it represents or its people, and instead their behavior has lead the dollar to where it is today - upon imminent implosion.

Currently, the US dollar has no competitors. 

What national currency can compete with the US dollar?  CNY?  The Chinese Communist Party is taking deliberate action to depreciate the Chinese yuan against the US dollar.  These actions are necessary to ensure the profitability of the export of Chinese goods. 

Euro?  Currently, the European currency does not show growth against the US dollar.  This is natural - full-scale military operations are being conducted on the territory of Europe.  At the same time, Europe no longer receives cheap natural gas from Russia, which negatively affects the prospects for the further development of its heavy and manufacturing industries. 

Swiss frank?  Switzerland is cheese, watches and banking services.  At the same time, watches have practically gone out of fashion and no one wears them, and Swiss banks have long ceased to provide anonymity and confidentiality regarding the transactions of their clients (the best Swiss bank is the Monero cryptocurrency). 

From this we can conclude that the dominant position of the US dollar (as the world's reserve currency) is not in danger.

[1715290405]

1715290405

[1715290405]

1715290405

[Flexystar]

The ultimate journey of dollar getting dumped is next level and one of the reason for another currency to overcome the world domination. I am not putting overexerted statements here, but I am speaking technically here. The reason behind gaining the world's currency symbol was due to power of USA. However, with ever increasing debts, and fed reserves having nothing but printed money, US gonna suffer devaluation soon. The story was different few years back, there is new arena that got unlocked after the pandemic and russia-ukraine war! They are trying to show their power one more time, but it is not really getting bombarded with same energy no more.

Now, coming back to other countries buying gold; it's simply strategic plan. Since most of the countries know that US dollar is value so they need to power up their own reserves. Either it will give them one shot towards overpowering the US or at least keep themselves an upper hand by having strong asset.

Also, it is a good chance for the decentralized asset like bitcoin to overcome it's challenges of cornered value. What I mean is, bitcoin can easily survive during such collapse as it does not care if dollar is downgrading in its value. In fact we have seen good spike though dollar is dropping in value. That is unreal proof of its acceptance.

[BenCodie]

Currently, in my opinion, there is no direct threat to the US dollar.

The modern financial system is designed in such a way that any serious global economic crisis leads to the fact that the US dollar is growing in price relative to other national currencies. The hostilities between Russia and Ukraine, the sanctions war, the cessation of natural gas supplies are destroying both the economy of these two countries themselves and the economy of Europe.

At the same time, the United States (remaining in a position above the fight) does not bear any economic, financial, or reputational losses. This ensures that the US dollar remains the world's reserve currency.

At the same time, gold, which in theory could become an alternative to the US dollar in terms of its physical characteristics, is poorly suited for use in everyday financial transactions, remaining mainly in the role of a conservative reserve asset.

There is no direct thread to the US Dollar? Preposterous. Even if you overlook other countries from the picture, the US is the threat against its own currency! The global financial crisis is a prime example of this. The banking system is not made to support the dollar positively and yet it has so much control over its supply...politics are not looking out for the interests of its people but instead corporations that seek to exploit them. All three of these interests, banks politicians and corporations (it bears repeating for banks) might seem like they help the economy thrive however they do not in any way positively influence the long-term success of the US dollar, the country it represents or its people, and instead their behavior has lead the dollar to where it is today - upon imminent implosion.

Currently, the US dollar has no competitors. 

What national currency can compete with the US dollar?  CNY?  The Chinese Communist Party is taking deliberate action to depreciate the Chinese yuan against the US dollar.  These actions are necessary to ensure the profitability of the export of Chinese goods. 

Euro?  Currently, the European currency does not show growth against the US dollar.  This is natural - full-scale military operations are being conducted on the territory of Europe.  At the same time, Europe no longer receives cheap natural gas from Russia, which negatively affects the prospects for the further development of its heavy and manufacturing industries. 

Swiss frank?  Switzerland is cheese, watches and banking services.  At the same time, watches have practically gone out of fashion and no one wears them, and Swiss banks have long ceased to provide anonymity and confidentiality regarding the transactions of their clients (the best Swiss bank is the Monero cryptocurrency). 

From this we can conclude that the dominant position of the US dollar (as the world's reserve currency) is not in danger.

What forum are you using right now  Is this not the point in why we are all here, as we believe Bitcoin will one day rid us of inferior fiat money, like the US dollar and each one you listed after that? The US Dollar is in danger. Bitcoin is the direct threat. No national currency will beat the US Dollar and if so it won't be permanent. The global currency will win.

[Smartprofit]

Currently, in my opinion, there is no direct threat to the US dollar.

The modern financial system is designed in such a way that any serious global economic crisis leads to the fact that the US dollar is growing in price relative to other national currencies. The hostilities between Russia and Ukraine, the sanctions war, the cessation of natural gas supplies are destroying both the economy of these two countries themselves and the economy of Europe.

At the same time, the United States (remaining in a position above the fight) does not bear any economic, financial, or reputational losses. This ensures that the US dollar remains the world's reserve currency.

At the same time, gold, which in theory could become an alternative to the US dollar in terms of its physical characteristics, is poorly suited for use in everyday financial transactions, remaining mainly in the role of a conservative reserve asset.

There is no direct thread to the US Dollar? Preposterous. Even if you overlook other countries from the picture, the US is the threat against its own currency! The global financial crisis is a prime example of this. The banking system is not made to support the dollar positively and yet it has so much control over its supply...politics are not looking out for the interests of its people but instead corporations that seek to exploit them. All three of these interests, banks politicians and corporations (it bears repeating for banks) might seem like they help the economy thrive however they do not in any way positively influence the long-term success of the US dollar, the country it represents or its people, and instead their behavior has lead the dollar to where it is today - upon imminent implosion.

Currently, the US dollar has no competitors. 


From this we can conclude that the dominant position of the US dollar (as the world's reserve currency) is not in danger.

What forum are you using right now  Is this not the point in why we are all here, as we believe Bitcoin will one day rid us of inferior fiat money, like the US dollar and each one you listed after that? The US Dollar is in danger. Bitcoin is the direct threat. No national currency will beat the US Dollar and if so it won't be permanent. The global currency will win.

Yes, I agree with you that Bitcoin is a danger to the US dollar. 

However, the time has not yet come when Bitcoin will replace the US dollar as the world's reserve currency.  The main advantage of Bitcoin over the US dollar is that Bitcoin is a universal value.  Bitcoin is a decentralized asset, it is not tied to any country. 

However, Bitcoin currently has its drawbacks.  In particular, due to technical issues, the number of daily bitcoin transactions is limited.  In this regard, the US dollar is superior to Bitcoin. 

Bitcoin has yet to solve these scaling issues in the future.

[Wind_FURY]

Gold buyers binge on biggest volumes for 55 years
Central banks are scooping up gold at the fastest pace since 1967, with analysts pinning China and Russia as big buyers in an indication that some nations are keen to diversify their reserves away from the dollar.
Data compiled the World Gold Council, an industry-funded group, has shown demand for the precious metal has outstripped any annual amount in the past 55 years. Last month’s estimates are also far larger than central banks’ official reported figures, sparking speculation in the industry over the identity of the buyers and their motivations.

The last time this level of buying was seen marked a historical turning point for the global monetary system. In 1967, European central banks bought massive volumes of gold from the US, leading to a run on the price and the collapse of the London Gold Pool of reserves. That hastened the eventual demise of the Bretton Woods System that tied the value of the US dollar to the precious metal.
Last month the WCG estimated the world’s official financial institutions have bought 673 tonnes. And in the third quarter alone central banks bought almost 400 tonnes of gold, the largest three-month binge since quarterly records began in 2000.

https://i.imgur.com/VrRBcny.png

“The message these central banks are sending by putting a larger share of their reserves in gold is that they don’t want to be reliant on the US dollar as their main reserve asset,” Menke said.
Some in the industry speculate Middle Eastern governments are using fossil fuel export revenues to buy gold, most likely through sovereign wealth funds.

The world continues dumping US dollar, I've already talked about India buying gold and many times about Iran accumulating gold over the past couple of years. Now we have evidence of the other Eastern powers buying large amounts of gold. Many other smaller countries that don't fall into the global geopolitics like Qatar, Turkey, Uzbekistan, some African countries, etc. are also accumulating more gold.
 
This is the New World Order that is forming in front of our eyes, the old Dollar standard is slowly but surely going away which is causing high inflation in US as all the unbacked dollars they'd printed all these years are being dumped on USA itself and even higher inflation is seen in any country that is importing US inflation like Europe. Experts suggest that if US wasn't exporting its inflation, the real US inflation would have been somewhere north of 450% and that's where it's headed as the dollar dumping continues.

I recently watched an analyst who suggested that this is World War 3 which will be fought (at least for now) economically. The East vs. West as the East dumps US dollar that strains US economy. China suddenly lets loose COVID on the world (this past 2 weeks) that is already showing an increase in EU and US. Oil price ends the year with the 2nd straight annual gain and the general high energy prices among other things is slowly rendering EU useless as an economy and industrial power.

Although economy is not the only battlefield (we have energy, food and actual armed conflict between proxies) but it is affecting us the most. It is even affecting bitcoin price as it has successfully prevented its rise to higher ATH last year and even changed its bull trend and crashed the price below the previous (2017) ATH for the first time in bitcoin history.

With that said, 2023 outlook is already bad economically speaking.
How much of the points I raised do you agree with and how do you see 2023 specially when dollar dumping continues?

Tin-foil hats on, but I would also like to inform the people in the topic that the Central Banks haven't purchased this amount of Gold since 1967, which is also said to have brought out the collapse of the Bretton Woods system, https://en.wikipedia.org/wiki/Bretton_Woods_system

Plus when Central Banks around the world hold this much Gold, they are targets for a more powerful state's military. New World Order is possible indeed.

[Sithara007]

Gold prices are going up like crazy. In just one month, the prices increased by around 10%. It is not surprising actually. After the start of COVID pandemic, many of the governments around the world resorted to printing money without any limit. This has resulted in double digit inflation and therefore the valuation of assets that come under the category of "store of value" has gone up. It is applicable for Bitcoin as well. BTC exchange rates have gone up by almost 50% since the start of January. We need to see whether this is a permanent phenomenon, or a temporary one.

[pooya87]

At the same time, the United States (remaining in a position above the fight) does not bear any economic, financial, or reputational losses. This ensures that the US dollar remains the world's reserve currency.

I disagree. US may not have been affected nearly as much as Europe has, but the effects are clearly there. The increased inflation in US, the increased cost of living for Americans and the interest rate that the FED keeps raising to try and slow down inflation but mainly fail.
On top of that US national debt keeps setting new highs every second ($31.5 trillion right now).

Currently, the US dollar has no competitors. 

CNY?
Euro?
Swiss frank?

US dollar also has no reason to be used.
The replacement depends on who is trading with whom. If for example Europe is trading with Russia, they have no reason to use dollar. They use their own currencies (meaning both Euro and Ruble). Same with China.
If it is the SCO members trading with each other they will use the currency that the organization comes up with. Same with BRICS.

Obviously all of that won't happen overnight but we are heading towards that direction. Many European countries are already paying Russia in Ruble buying their energy (eg. LNG imports).

Over the past few days, Iran has already paid the price for deliveries of its drones and possibly ballistic missiles to Russia.

What is this about that I've seen you mention elsewhere too?

[BenCodie]

Currently, in my opinion, there is no direct threat to the US dollar.

The modern financial system is designed in such a way that any serious global economic crisis leads to the fact that the US dollar is growing in price relative to other national currencies. The hostilities between Russia and Ukraine, the sanctions war, the cessation of natural gas supplies are destroying both the economy of these two countries themselves and the economy of Europe.

At the same time, the United States (remaining in a position above the fight) does not bear any economic, financial, or reputational losses. This ensures that the US dollar remains the world's reserve currency.

At the same time, gold, which in theory could become an alternative to the US dollar in terms of its physical characteristics, is poorly suited for use in everyday financial transactions, remaining mainly in the role of a conservative reserve asset.

There is no direct thread to the US Dollar? Preposterous. Even if you overlook other countries from the picture, the US is the threat against its own currency! The global financial crisis is a prime example of this. The banking system is not made to support the dollar positively and yet it has so much control over its supply...politics are not looking out for the interests of its people but instead corporations that seek to exploit them. All three of these interests, banks politicians and corporations (it bears repeating for banks) might seem like they help the economy thrive however they do not in any way positively influence the long-term success of the US dollar, the country it represents or its people, and instead their behavior has lead the dollar to where it is today - upon imminent implosion.

Currently, the US dollar has no competitors. 


From this we can conclude that the dominant position of the US dollar (as the world's reserve currency) is not in danger.

What forum are you using right now  Is this not the point in why we are all here, as we believe Bitcoin will one day rid us of inferior fiat money, like the US dollar and each one you listed after that? The US Dollar is in danger. Bitcoin is the direct threat. No national currency will beat the US Dollar and if so it won't be permanent. The global currency will win.

Yes, I agree with you that Bitcoin is a danger to the US dollar. 

However, the time has not yet come when Bitcoin will replace the US dollar as the world's reserve currency.  The main advantage of Bitcoin over the US dollar is that Bitcoin is a universal value.  Bitcoin is a decentralized asset, it is not tied to any country. 

However, Bitcoin currently has its drawbacks.  In particular, due to technical issues, the number of daily bitcoin transactions is limited.  In this regard, the US dollar is superior to Bitcoin. 

Bitcoin has yet to solve these scaling issues in the future.

By no means will it happen over night. Nor did I say that it would be happening any time soon. I was only addressing that you said that there was no direct threat the US Dollar

Bitcoin has definitely come a long way on the topic of scaling and I think it's capability to facilitate usage on a global scale is within the next 2-3 halving cycles (5.5 - 9.5 years). I think it is likely that it will become a store of value over your average savings account even sooner. 

[Wind_FURY]

Currently, the US dollar has no competitors. 

CNY?
Euro?
Swiss frank?

US dollar also has no reason to be used.

The replacement depends on who is trading with whom. If for example Europe is trading with Russia, they have no reason to use dollar. They use their own currencies (meaning both Euro and Ruble). Same with China.
If it is the SCO members trading with each other they will use the currency that the organization comes up with. Same with BRICS.

Obviously all of that won't happen overnight but we are heading towards that direction. Many European countries are already paying Russia in Ruble buying their energy (eg. LNG imports).

Although I understand the debate that the U.S. Dollar's excessively high "privilege" might be fading away, saying that "the Dollar has no reason to be used" is an extremely flawed statement. It's not that simple.

It probably is true for sanctioned countries like Russia, North Korea, or Venezuela, but for the rest of the world, the U.S. Dollar is still the Global Reserve Currency that they are willing to spend/accept, willing to save/hold, and that's easy to obtain.

[pooya87]

Although I understand the debate that the U.S. Dollar's excessively high "privilege" might be fading away, saying that "the Dollar has no reason to be used" is an extremely flawed statement. It's not that simple.

It probably is true for sanctioned countries like Russia, North Korea, or Venezuela, but for the rest of the world, the U.S. Dollar is still the Global Reserve Currency that they are willing to spend/accept, willing to save/hold, and that's easy to obtain.

Do you honestly think a currency that has been getting printed without them caring about the consequences of the high inflation it is causing to all those countries that have it as "reserve currency" has a valid reason to continue being used by those countries?

I don't think so. In fact from what I've seen no country in the world wants to use US dollar but the problem is that they are forced to use it. A couple of decades ago even Europe tried dumping dollar and get rid of it but they were whipped into submission and were forced to continue using it when US forced Petrodollar nonsense on them.
A lot of other countries over the decades tried dumping US dollar, they were also whipped into submission or got invaded and had their country destroyed.

[Wind_FURY]

Although I understand the debate that the U.S. Dollar's excessively high "privilege" might be fading away, saying that "the Dollar has no reason to be used" is an extremely flawed statement. It's not that simple.

It probably is true for sanctioned countries like Russia, North Korea, or Venezuela, but for the rest of the world, the U.S. Dollar is still the Global Reserve Currency that they are willing to spend/accept, willing to save/hold, and that's easy to obtain.

Do you honestly think a currency that has been getting printed without them caring about the consequences of the high inflation it is causing to all those countries that have it as "reserve currency" has a valid reason to continue being used by those countries?

The questionable decisions of cabal behind the Federal Reserve is another debate for another topic. But the point is the demand for the U.S. Dollar among the economies that aren't sanctioned still have high demand of the U.S. Dollar. Why? Because of its spendabilty, saveability, and liquidity. The Chinese Yuan, the Russian Ruble, or any new fiat currency the sanctioned economies could issue in all three characteristics.

I don't think so. In fact from what I've seen no country in the world wants to use US dollar but the problem is that they are forced to use it. A couple of decades ago even Europe tried dumping dollar and get rid of it but they were whipped into submission and were forced to continue using it when US forced Petrodollar nonsense on them.
A lot of other countries over the decades tried dumping US dollar, they were also whipped into submission or got invaded and had their country destroyed.

Forced to use it or not, it's necessary to use it for international trade. Do you believe if Russia wasn't sanctioned, it would stop using the U.S. Dollar? Would Venezuela? I believe not.

I'm not saying there's no threat to the U.S. Dollar. Merely debating that the threat is overblown.

[Argoo]

I think it's there to attract attention and that's it. Like imagine the worst possible thing that could happen? That would be world war 3 because we now have nuclear weapons as well, even a single one of them being used means that it's going to end up with a lot of trouble, and that is why I believe that nobody will end up using them in reality, but what if it was ever used? That would be insane.

This is why that's the worst thing I could ever consider. In the end it's going to be sensible people stopping short of that, this whole Ukraine thing could have turned into USA and Europe going directly into Ukraine to help, which would have caused Russia to be even more aggressive and even maybe use Nuclears, but nobody did, hence I doubt it would happen.

Russia wants to seize Ukraine, partially destroy Ukrainians, partially take them to remote and sparsely populated regions of Siberia, that is, destroy Ukraine as a state and Ukrainians as a nation. Therefore, the Ukrainians have no choice but to fight, even despite Russia's nuclear weapons, which it periodically threatens, especially when it loses big on the battlefield. Russia has already lost almost its entire regular army in the war with Ukraine - about 200,000 who invaded last February. After that, Putin mobilized volunteers from places of detention for the war, out of 50,000, about 10,000 people are already left. There is a mass mobilization going on in Russia right now, Putin wants to call up about 500,000 more people to this war. But in Russia there is already a big problem with the availability of armored vehicles, other weapons and ammunition. February and March will be decisive in this war. But strategically, Russia and Putin have already lost this war.

[el kaka22]

Why do people act as if World War III is a possibility all the time. I get it, we had 2 world wars and people think that a third could happen, but there were defensive mechanisms put in place exactly to stop that from happening.

You think 50 years ago, or 100 years ago, Russia attacking Ukraine would have been seen as just "what a terrible tragedy that people are dying, oh well" and moved on? Right now, no European army or American army is there, sure they send weapons to help, but the army is not there, why? To prevent that war from starting. We are not going to see it become like that, just financial attacking between governments, that's it, and nothing bigger will ever happen.

[pooya87]

The questionable decisions of cabal behind the Federal Reserve is another debate for another topic. But the point is the demand for the U.S. Dollar among the economies that aren't sanctioned still have high demand of the U.S. Dollar. Why? Because of its spendabilty, saveability, and liquidity. The Chinese Yuan, the Russian Ruble, or any new fiat currency the sanctioned economies could issue in all three characteristics.

You are arguing about replacements and you are right. Other fiat currencies suffer from the same flaws as US dollar. But your arguments are confirming my claim that countries are not willingly using dollar!

Forced to use it or not, it's necessary to use it for international trade. Do you believe if Russia wasn't sanctioned, it would stop using the U.S. Dollar? Would Venezuela? I believe not.

Yes because the discussions about replacing US dollar didn't start after Russia was sanctions and Russia is not the only country that is seeking replacement. For example both SCO and BRICS are organizations created to oppose the US hegemony (specially economical hegemony). SCO was found in 2001 and BRICS in 2009.
Some of the countries in these organizations like Brazil are not under sanctions.

P.S. El Salvador wasn't under sanctions when they found a replacement for the dollar called bitcoin, they are under sanctions now though

Why do people act as if World War III is a possibility all the time.

It is not a possibility, it is already happening. But unlike the previous two this may never turn into a large scale armed conflict because everyone and I mean everyone knows that it would lead to nuclear annihilation which is why Russia and NATO are fighting a proxy war instead alongside half a dozen other types of war (economical, energy, food, biological, etc.).

[Theones]

Why do people act as if World War III is a possibility all the time. I get it, we had 2 world wars and people think that a third could happen, but there were defensive mechanisms put in place exactly to stop that from happening.

You think 50 years ago, or 100 years ago, Russia attacking Ukraine would have been seen as just "what a terrible tragedy that people are dying, oh well" and moved on? Right now, no European army or American army is there, sure they send weapons to help, but the army is not there, why? To prevent that war from starting. We are not going to see it become like that, just financial attacking between governments, that's it, and nothing bigger will ever happen.

In my opinion - world war is not the war through weapon only
there are so many other things which are being done to kill the people without dropping bombs and shells.
In my country - it is inflation and inflation is at the peak. People are fighting for the bread now. What could be worse than this?

[Argoo]

Why do people act as if World War III is a possibility all the time. I get it, we had 2 world wars and people think that a third could happen, but there were defensive mechanisms put in place exactly to stop that from happening.

You think 50 years ago, or 100 years ago, Russia attacking Ukraine would have been seen as just "what a terrible tragedy that people are dying, oh well" and moved on? Right now, no European army or American army is there, sure they send weapons to help, but the army is not there, why? To prevent that war from starting. We are not going to see it become like that, just financial attacking between governments, that's it, and nothing bigger will ever happen.

Big events happen unexpectedly and simply as usual. The world is now more than ever on the verge of World War III. Some experts say that it has already begun. In Europe, the most brutal and bloodiest war since the Second World War has now been going on for almost a year. Tens of thousands of shells are fired every day. Thousands of tanks and armored vehicles are participating on both sides. And although not many states support Putin, the world is quickly divided into those who support Ukraine and those who support Russia. Its results will determine whether other states, such as China, will follow the path of Russia, attacking neighboring states.

[DrBeer]

I'll leave here one great story about how supposedly "the world is getting rid of the dollar." Clarification: I assume with 100% probability that under the value of "world" we are slipped a group of countries of losers and outcasts, whose currencies are worth nothing, the economy is collapsing
And now the story itself. 2022, one of the "most stable economies in the world" once again begins to scream that it is abandoning the dollar. And she screams to the whole world that her "fraternal countries" are also refusing it, and the payments will be in the currency of this "great country", yuan and some other candy wrappers. This "great country" makes a "cunning move" (and its "great leader" is known to its population as "an unsurpassed master of very cunning moves" ). The tricky move is to remove as much as possible "a dollar that no one needs" from their gold reserves. And replace it with "stable, brotherly yuan." Really a smart move? And cunning China also says - "we also refuse the dollar", and smiles so slyly
And now the "great country" takes and buys a very stable yuan from the brotherly people. And the fraternal Chinese people say - come on, "great country", we will sell you a lot of our yuan. And you give us those useless dollars .. We will then throw them out so that you do not suffer with this garbage! And slyly smile again. "Great is the leader and strategist of a great country," he says, ok, here you have many, many billions of dollars that no one needs, ship wagons of stable yuan to us. And the Chinese brothers shipped many, many wagons of stable yuan to the brotherly "great people". And they took out, from the "great country" a lot of wagons of dollars that no one needed. And they threw them out. True, for some reason they ended up in China's gold reserves. Well, somehow it happened ... Cunningly
The "great country" was delighted that it now has many many many yuan.
And as in one fairy tale, after a couple of months, a lot of yuan, at 12 at night, turned into .. No, not into a melon, but in the same a lot of yuan, but which began to cost many times cheaper. Because the yuan fell a lot in relation to the DOLLAR, of course - no one needs And it turned out that as a result of "a cunning plan, a great leader, a great country", this "great country" stupidly lost several tens of billions of dollars, received a bunch of devalued yuan , and joyful, slyly smiling Chinese brothers!
And to the proposal from the "great leader of a great country" - "let's change back?" they answered with a smile
And they answered like this - “What kind of dollars Vladimir? We threw them away, hee hee hee, honestly honestly threw them away! Why do we need a dollar that no one needs?! Do you want more yuan? If you still have dollars? , and we will print another stable yuan for you!" ))

[Wind_FURY]

The questionable decisions of cabal behind the Federal Reserve is another debate for another topic. But the point is the demand for the U.S. Dollar among the economies that aren't sanctioned still have high demand of the U.S. Dollar. Why? Because of its spendabilty, saveability, and liquidity. The Chinese Yuan, the Russian Ruble, or any new fiat currency the sanctioned economies could issue in all three characteristics.

You are arguing about replacements and you are right. Other fiat currencies suffer from the same flaws as US dollar. But your arguments are confirming my claim that countries are not willingly using dollar!

Forced to use it or not, it's necessary to use it for international trade. Do you believe if Russia wasn't sanctioned, it would stop using the U.S. Dollar? Would Venezuela? I believe not.

Yes because the discussions about replacing US dollar didn't start after Russia was sanctions and Russia is not the only country that is seeking replacement. For example both SCO and BRICS are organizations created to oppose the US hegemony (specially economical hegemony). SCO was found in 2001 and BRICS in 2009.
Some of the countries in these organizations like Brazil are not under sanctions.

P.S. El Salvador wasn't under sanctions when they found a replacement for the dollar called bitcoin, they are under sanctions now though

I'm with you that a New World Order is possible. Possible, or maybe probable. BUT it also doesn't change anything about the debate that the U.S. Dollar's fall could also be too overblown. Because, right now, there's no currency that's actually ready to replace the Dollar that's better in spendability, saveability, and liquidity. The demand for the U.S. dollar remains because every other State want it.

What would the financial incentive be to accept the Yuan over the U.S. Dollar? I believe ZERO.

[pooya87]

I'm with you that a New World Order is possible. Possible, or maybe probable.

To be clear I believe that the New World Order is already established, it is not something that may or may not happen in the future. And we are now in the transitional phase that could last a couple of years, years that will be filled with conflicts and chaos.

BUT it also doesn't change anything about the debate that the U.S. Dollar's fall could also be too overblown.

Dollar may not disappear but it will definitely lose its dominance and value over the coming years. I agree that sometimes the degree of its fall is exaggerated.

Because, right now, there's no currency that's actually ready to replace the Dollar that's better in spendability, saveability, and liquidity. The demand for the U.S. dollar remains because every other State want it.

What would the financial incentive be to accept the Yuan over the U.S. Dollar? I believe ZERO.

All the characteristics you mentioned (spendability, saveability, and liquidity) depend on whether US likes you to have those characteristics or not. You see, the dollar your country has is not in your country's control! It is in full control of US one way or another and this gives US a tremendous amount of power over your country which they always abuse and they abuse it on all countries, friend of foe alike.

Take Turkey for example. It is considered a US ally and is a member of NATO. They have been playing both sides but after the earthquake which will continue to devastate Turkey between 6 to 12 months and exhaust all their resources, now through dollar US is putting pressure on Turkey to change its policies in favor of US!

Iraq is another example that US recently started increasing the pressure by blocking all their "dollars" that showed itself up immediately in Iraq economy.

[Joshapat]

Future economic threats will become increasingly difficult to predict, inflation and economic recession can occur at any time, it will be increasingly difficult for the central bank to control financial circulation because printed banknotes have no backing, if printed money adjusts to the amount of gold and silver stock, of course, regardless of banknotes printed will be of value.