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

[firesurfer]

The value of the dollar increases as the Fed continues to raise interest rates. Debtors are struggling to pay their debts. The game is always the same, after spreading the net by lowering interest rates and lending massively, they will collect the net by raising interest rates.
Currently, Middle Eastern countries, Russia, and China are creating a payment system that avoids using the US dollar in oil transactions. This is a signal that the world economy is gradually turning around and less dependent on the US dollar. But most countries borrow money from the US so they won't be brave enough to use any payment system other than the dollar.

[1714697844]

1714697844

[1714697844]

1714697844

[pooya87]

I think not Russia but actually China is mastermind behind this policy.

That's not new though. It actually started a very short time after US dollar became reserve currency and I'd say one of the first group of countries that started dumping USD were Europeans in the 70's but US scammed them by doing pretty much what they are doing today and introducing Petrodollar.

Countries like Russia only needed the "last straw" to speed up the dedollarization process and that last straw was the sanctions. Otherwise BRICS for instance has been discussing using another currency for trades for the past couple of years, long before Russia was sanctioned.
And of course China has been planning to replace US as the dominating global force through economy for decades. There is certainly loads of benefits for China in this. But again the trend has been going on longer than this.

P.S. On another news US national debt surpassed $31.6 trillion...

[coupable]

I'm sorry, but you are very much mistaken!
1. The idea of joining NATO is a consequence of the Russian terrorist attack on Ukraine. And NATO is one of the options for protecting Ukraine in the future from such "neighbors". By the way, let me remind you that Russia was one of the guarantors of the inviolability of Ukraine and the integrity of its borders.
Russia's terrorist attack on Ukraine began in 2014. The first official document about the desire of Ukraine to become a member (no not to join, but simply intentions) appeared in the legislative framework of Ukraine only in 2018. Although the Kremlin's propaganda is trying to convince everyone of the exact opposite! But if you're not a fool, it's very easy to check the Kremlin's lies...

Russia doesn't want NATO to be near to it's borders, I think that's true. If Belarus, Ukraine and Georgia join NATO, Russia will become surrounded by NATO, i.e. by USA. I think their point is clear, it's clear why they waged a war against Ukraine but there is another problem too, Russia has imperialistic wishes and dreams, they want to rebuild Soviet Union. It's clear, you can hear Putin's speeches, visit their propaganda websites, Russia Today even has category called Russia & Former Soviet Union next to its logo.

But why is Russia in this situation? Is Russia a victim of USA? Hell NO! Russia is a victim of it's dicktatorship and corruption, no one wants to be part of Russia because of low quality life, corruption, bad politics, neighbors, including Ukraine, want to join Western life.

After the collapse of the Berlin Wall and the fall of the Soviet Union, Russia became weak and lost large parts of its lands due to the liberation movements, and thus the loss of resources for the tired economy. Ukraine was one of the most important lands that Russia still considers part of its territory. On this basis, it has been preparing for the last decade to re-incorporate it in any way, and it has actually started in 2014 to occupy the entire Crimea. Ukraine found itself forced to ally with Satan to preserve its territorial integrity and to be able to confront its occupying neighbor. But it seems that this is exactly what Russia wanted as a pretext to occupy the entire country. And if the pretext for Ukraine's accession to NATO did not exist, Russia would certainly have worked to fabricate other crises to find excuses for punishment, as it put it.

[mulia sabee]

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.



“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?

looking at the current world conditions we cannot be sure about future economic threats, but many people have predicted that inflation and economic recession will occur at any time

[Wong Gendheng]

Increasingly fierce global competition makes bad things happen, now most countries only use banknotes without the support of valuable products such as gold or silver, it is natural that inflation is common and will continue to happen, especially some countries that are now using currency from other countries which is stronger so it is natural to be easily controlled.

[Ozero]

Russia is very weak in the war against Ukraine. Putin and his entourage clearly did not count on a protracted war, which has been going on for the second year. The regular army of Russia was defeated in Ukraine, the Armed Forces of Ukraine and the best part of armored vehicles and other Russian weapons were destroyed. The mobilization of the population for the war in Ukraine, which has been ongoing since September last year, did not save the situation: some of the mobilized, who, without proper artillery and air support, were thrown into the fortified positions of Ukrainians as "cannon fodder", remained forever lying in the fields of Ukraine, and the other part already refuses to go on the attack to certain death.

Against the background of Russia's loss in the war unleashed by it, of course, there is a big redistribution of the world and the geopolitical influence of the main players - the United States and China. The position of China is not clearly visible now. Therefore, the information that the US and China are now secretly discussing changing the territory of China at the expense of the territories of a weakened Russia is very interesting.
The United States allegedly agrees to the expansion of Chinese influence in Siberia on the condition that China renounces its ambitions and the territorial seizure of Taiwan. This would be a good way out of the current tense military situation in which Russia has drawn the world.

[trendcoin]

Gold buyers binge on biggest volumes for 55 years
...

No fiat currency can stay on the throne as king forever. Because all fiat currencies are fake kings and they all die one day. This is an unwritten rule inherent in the nature of economics, and history is full of examples. Central banks may be trying to take a position because they think this reality may be imminent. I don't think we can explain the gold rush we witnessed in any other way.


The central banks with the most gold:

https://tradingeconomics.com/country-list/gold-reserves

[pooya87]

The People’s Bank of China (PBoC) announced a further gold purchase in January, the third consecutive monthly increase. Its total gold reserves rose to 2,025t, 15t higher m-o-m.

China is still amassing gold without slowing down but also at the same time they are attacking Petrodollar fiercely. We all know that the last remaining reason for Petrodollar to have any value is the crude oil trades with the major suppliers like countries around the Persian Gulf. The recent deals struck between China and those countries (latest being Saudi Arabia) dealt a great blow to Petrodollar's future ergo US Dollar's value.

[DrBeer]

What Russia should be doing is because the price cap the U.S. made of $60.00 per barrel for Russian Oil, Russia should peg Russian Oil to Gold. Plus when the peg is established, Russia could manipulate the peg by offering double the barrel of oil for Gold, in theory making Gold prices rise, making the value of their Gold reserves rise, and their Gold outputs rise.

 

1. China, in addition to reserves in the dollar, has more nuances. First, the Chinese economy is globally dependent on technologies from the United States, which the United States sells only for dollars. And not for everyone who wants to. Therefore, China will never give up the dollar. The fact that he now "supports" Russia is just a game of a cat with a stupid mouse! Russia, on the wave of idiotic decisions, removes the dollar from the gold reserves, China says - yes, yes, you are doing everything right, take the yuan ... and take the dollar from Russia for YOURSELF
The second is that China has a multi-trillion debt, and not in yuan, but in real dollars.
Total-China is completely dependent on the dollar and will not take such idiotic steps as Russia.
2. Russia can tie its oil to anything, but in today's situation it will not solve anything! The quotes you mentioned are:
- the price set by the EU, above which this oil will not be bought
- The real price on the "here and now" market is BELOW this border (the market does not need dubious oil from the country of a terrorist)
- Real transactions for the sale of unnecessary Russian oil are around $30 per barrel Dadad, imagine - the real price of Russian oil, which India and China are now buying out, is about $30 per barrel This is, so to speak, a "gesture of helping a friend", when, using Russian problems, China and India simply "undress" Russia, forcing them to sell Russian oil for 50% of the market price. Such is the friendship and help!

[MusaPk]

I think not Russia but actually China is mastermind behind this policy.

That's not new though. It actually started a very short time after US dollar became reserve currency and I'd say one of the first group of countries that started dumping USD were Europeans in the 70's but US scammed them by doing pretty much what they are doing today and introducing Petrodollar.

Countries like Russia only needed the "last straw" to speed up the dedollarization process and that last straw was the sanctions. Otherwise BRICS for instance has been discussing using another currency for trades for the past couple of years, long before Russia was sanctioned.
And of course China has been planning to replace US as the dominating global force through economy for decades. There is certainly loads of benefits for China in this. But again the trend has been going on longer than this.

P.S. On another news US national debt surpassed $31.6 trillion...

I keep asking myself this funny question that almost all countries are under debt including economic powers like USA and Japan (In December 2022, the Japanese public debt was 9.8 trillion US Dollars). If the whole world is under debt then who is the lender?

China has 3,133.2 USD billion in its reserves by Feb 2023. China is relying heavily on USD.

World affairs are changing so rapidly that we can't predict how the world will be in the coming 6 years.

[Synchronice]

After the collapse of the Berlin Wall and the fall of the Soviet Union, Russia became weak and lost large parts of its lands due to the liberation movements, and thus the loss of resources for the tired economy. Ukraine was one of the most important lands that Russia still considers part of its territory. On this basis, it has been preparing for the last decade to re-incorporate it in any way, and it has actually started in 2014 to occupy the entire Crimea. Ukraine found itself forced to ally with Satan to preserve its territorial integrity and to be able to confront its occupying neighbor. But it seems that this is exactly what Russia wanted as a pretext to occupy the entire country. And if the pretext for Ukraine's accession to NATO did not exist, Russia would certainly have worked to fabricate other crises to find excuses for punishment, as it put it.

Russia has a lot of resources and it has the largest territory in the world but problem lies within Russians. Russian can have as good life as Norwegians but yeah, this country isn't rewarded with smart heads but full of corrupt politicians. How can any country feel well under Russia when Russia and Russian people have terrible quality of life? When Ukrainian person looks at Germany, France, Switzerland, Ireland, Finland, Denmark and so on, why will this Ukrainian have a wish to join Russian and look like Armenia, Azerbaijan, Belarus, Georgia, Moldova? I would even say that people from these countries and from other post-soviet countries come in Europe, Canada, USA, UK, Australia, NZ to work and these people are happy to do even dirty jobs because salaries in our countries, the healthcare, work ethic, everything is way better than in their motherlands.
I don't say that America or even EU is full of angels or they don't have their interests but definitely its way better and beneficial for Ukraine to join us and escape from Russia.

[coupable]

After the collapse of the Berlin Wall and the fall of the Soviet Union, Russia became weak and lost large parts of its lands due to the liberation movements, and thus the loss of resources for the tired economy. Ukraine was one of the most important lands that Russia still considers part of its territory. On this basis, it has been preparing for the last decade to re-incorporate it in any way, and it has actually started in 2014 to occupy the entire Crimea. Ukraine found itself forced to ally with Satan to preserve its territorial integrity and to be able to confront its occupying neighbor. But it seems that this is exactly what Russia wanted as a pretext to occupy the entire country. And if the pretext for Ukraine's accession to NATO did not exist, Russia would certainly have worked to fabricate other crises to find excuses for punishment, as it put it.

Russia has a lot of resources and it has the largest territory in the world but problem lies within Russians. Russian can have as good life as Norwegians but yeah, this country isn't rewarded with smart heads but full of corrupt politicians. How can any country feel well under Russia when Russia and Russian people have terrible quality of life? When Ukrainian person looks at Germany, France, Switzerland, Ireland, Finland, Denmark and so on, why will this Ukrainian have a wish to join Russian and look like Armenia, Azerbaijan, Belarus, Georgia, Moldova? I would even say that people from these countries and from other post-soviet countries come in Europe, Canada, USA, UK, Australia, NZ to work and these people are happy to do even dirty jobs because salaries in our countries, the healthcare, work ethic, everything is way better than in their motherlands.
I don't say that America or even EU is full of angels or they don't have their interests but definitely its way better and beneficial for Ukraine to join us and escape from Russia.

This is completely understandable, and Ukraine, as an independent country, has the right to choose which camp it wants to join. But it is unfortunate that its location is adjacent to Russia, like a barrier between the two camps, and because it did not seize the opportunity of Russia's weakness after the collapse of the Soviet Union and joined NATO and the European Union countries, as Poland did. Russia today is not the Russia of the nineties, and I do not think it will allow the Western camp to expand.

[DrBeer]

After the collapse of the Berlin Wall and the fall of the Soviet Union, Russia became weak and lost large parts of its lands due to the liberation movements, and thus the loss of resources for the tired economy. Ukraine was one of the most important lands that Russia still considers part of its territory. On this basis, it has been preparing for the last decade to re-incorporate it in any way, and it has actually started in 2014 to occupy the entire Crimea. Ukraine found itself forced to ally with Satan to preserve its territorial integrity and to be able to confront its occupying neighbor. But it seems that this is exactly what Russia wanted as a pretext to occupy the entire country. And if the pretext for Ukraine's accession to NATO did not exist, Russia would certainly have worked to fabricate other crises to find excuses for punishment, as it put it.

Russia has a lot of resources and it has the largest territory in the world but problem lies within Russians. Russian can have as good life as Norwegians but yeah, this country isn't rewarded with smart heads but full of corrupt politicians. How can any country feel well under Russia when Russia and Russian people have terrible quality of life? When Ukrainian person looks at Germany, France, Switzerland, Ireland, Finland, Denmark and so on, why will this Ukrainian have a wish to join Russian and look like Armenia, Azerbaijan, Belarus, Georgia, Moldova? I would even say that people from these countries and from other post-soviet countries come in Europe, Canada, USA, UK, Australia, NZ to work and these people are happy to do even dirty jobs because salaries in our countries, the healthcare, work ethic, everything is way better than in their motherlands.
I don't say that America or even EU is full of angels or they don't have their interests but definitely its way better and beneficial for Ukraine to join us and escape from Russia.

Putin and his pack did not come to Ukraine. In Ukraine, Ukrainian citizens are killed, raped, tortured, looted - ordinary citizens of Russia. It's not about politicians, it's about the mentality and system in Russia itself. There is no need to separate the power from the people - they are a single whole. Once again, it is not Putin who is killing us, but ordinary residents of Russia. Which, instead of living for themselves and creating comfort for themselves, destroy everything around them that others create for themselves.

[pooya87]

I keep asking myself this funny question that almost all countries are under debt including economic powers like USA and Japan (In December 2022, the Japanese public debt was 9.8 trillion US Dollars). If the whole world is under debt then who is the lender?

The national debt is less like a "loan" and is more like money printing.
When a government faces deficits (eg. when their expenditures exceed their revenues) they have to "borrow money" to cover that deficit. In a way they are borrowing money from all citizens.

But this money they are borrowing comes out of thin air meaning they print it so when the government spends that newly printed money they are effectively increasing the national debt and the circulating money supply.

As you know from supply and demand, increasing supply means lower value. Hence inflation.

Here is a live website to monitor national debt of each country: https://www.usdebtclock.org/world-debt-clock.html

[Moeda]

The People’s Bank of China (PBoC) announced a further gold purchase in January, the third consecutive monthly increase. Its total gold reserves rose to 2,025t, 15t higher m-o-m.

China is still amassing gold without slowing down but also at the same time they are attacking Petrodollar fiercely. We all know that the last remaining reason for Petrodollar to have any value is the crude oil trades with the major suppliers like countries around the Persian Gulf. The recent deals struck between China and those countries (latest being Saudi Arabia) dealt a great blow to Petrodollar's future ergo US Dollar's value.

Of course China has an advantage in the field of international trade. Their currency is valid without having to convert to dollars. Thus, they can reduce the pace of the dollar, they can even alienate the dollar. Apart from hoarding gold, they continue to cooperate in international trade, especially in the field of crude oil. In the past few days, USDC had dropped, and the dollar to Yuan exchange rate also started to weaken. Maybe this is part of what friends are talking about here, because we only know a small part of what a country does. In addition, China also realizes that all currencies will fall, but gold can survive from time to time.

But the question is, why do they always publish every time they hoard gold? Do they want other countries to do the same, so they can leave the dollar at the same time?

[justdimin]

I keep asking myself this funny question that almost all countries are under debt including economic powers like USA and Japan (In December 2022, the Japanese public debt was 9.8 trillion US Dollars). If the whole world is under debt then who is the lender?

China has 3,133.2 USD billion in its reserves by Feb 2023. China is relying heavily on USD.

World affairs are changing so rapidly that we can't predict how the world will be in the coming 6 years.

Each other, that's the answer to your question. They are debited to each other, so you buy 1 billion dollars worth of thing from USA, and they buy 1 billion dollars worth of thing from Japan, now you owe USA 1 billion dollars, and USA owes that to Japan, as you can see only 1 billion dollars could delete 2 billion dollars worth of debt, if I pay that to USA and they send it to Japan, same 1 billion dollars pays for 2 billion debt, now if Japan buys something from me, that means 3 billions all paid with a single billion dollars, or even better yet, if Japan says USA has no debt in return of USA saying I have no debt, we paid nothing and 3 billion dollars worth of debt is gone. That's how this much debt was created.

[DrBeer]

I think not Russia but actually China is mastermind behind this policy.

That's not new though. It actually started a very short time after US dollar became reserve currency and I'd say one of the first group of countries that started dumping USD were Europeans in the 70's but US scammed them by doing pretty much what they are doing today and introducing Petrodollar .

Countries like Russia only needed the "last straw" to speed up the dedollarization process and that last straw was the sanctions. Otherwise BRICS for instance has been discussing using another currency for trades for the past couple of years, long before Russia was sanctioned.
And of course China has been planning to replace the US as the dominant global force through the economy for decades. There is certainly loads of benefits for China in this. But again the trend has been going on longer than this.

P.S. On another news US national debt surpassed $31.6 trillion...

1. China's debt is about 51.8 trillion dollars (2022), but China can only print yuan, on machines bought for dollars
2. An excellent example of BRICS - India began to buy oil from Russia for rupees. On the one hand, here it is a victory over the dollar. But this is actually a simple scam in relation to not very smart Russia As a result, Russia does not have oil, the price of oil in the contract is in US dollars, which India counted at a favorable rate, India drained a huge amount of extra rupees to Russia. Russia cannot buy anything with these rupees, since "fraternal" India does not allow actions to be taken with these rupees from Russia! But the most interesting thing is that India sells this oil ... for DOLLARS Thus, assigning the role of a "currency garbage dump" for Russia
Russia's other "friends" also "have it" in every possible way. The only one who more or less won is Iran, an accomplice and comrade of Russian terrorism. As I previously assumed, when Iran began to supply drones to Russia, it would not sell them in their pure form, but instead demanded technology for the development of nuclear weapons. What has already become known to both the United States and Israel. Now the Iranian regime has very big problems on the horizon ..

[MusaPk]

.
.

Each other, that's the answer to your question. They are debited to each other, so you buy 1 billion dollars worth of thing from USA, and they buy 1 billion dollars worth of thing from Japan, now you owe USA 1 billion dollars, and USA owes that to Japan, as you can see only 1 billion dollars could delete 2 billion dollars worth of debt, if I pay that to USA and they send it to Japan, same 1 billion dollars pays for 2 billion debt, now if Japan buys something from me, that means 3 billions all paid with a single billion dollars, or even better yet, if Japan says USA has no debt in return of USA saying I have no debt, we paid nothing and 3 billion dollars worth of debt is gone. That's how this much debt was created.

Thank you for making me understand how this circle of debt is working. Of course, it's complex, and not everyone can understand it.
The big economise like USA may or may not be affected by growing debt but small counties like Pakistan are greatly affected by there growing international debt from lenders like IMF and World Bank. In the long run such countries economy is binded with IMF loan and IMF program rarely bring prosperity in the country. It's best in interest of every country to avoid going to such bodies for loan.

[pooya87]

Speaking of dumping US dollar, BRICS (Brazil, Russia, India, China, and South Africa) which is one of the groups of countries that are dumping it has been expected to surpass G7 (Canada, France, Germany, Italy, Japan, UK and US) for some time and recently the stats show that it already happened. This is partly because the Western Economy has been shrinking and partially because BRICS economy has been growing.
This is expected to continue at a faster pace in the future, specially as the deindustrialization of Europe continues).

[slapper]

After the collapse of the Berlin Wall and the fall of the Soviet Union, Russia became weak and lost large parts of its lands due to the liberation movements, and thus the loss of resources for the tired economy. Ukraine was one of the most important lands that Russia still considers part of its territory. On this basis, it has been preparing for the last decade to re-incorporate it in any way, and it has actually started in 2014 to occupy the entire Crimea. Ukraine found itself forced to ally with Satan to preserve its territorial integrity and to be able to confront its occupying neighbor. But it seems that this is exactly what Russia wanted as a pretext to occupy the entire country. And if the pretext for Ukraine's accession to NATO did not exist, Russia would certainly have worked to fabricate other crises to find excuses for punishment, as it put it.

Russia has a lot of resources and it has the largest territory in the world but problem lies within Russians. Russian can have as good life as Norwegians but yeah, this country isn't rewarded with smart heads but full of corrupt politicians. How can any country feel well under Russia when Russia and Russian people have terrible quality of life? When Ukrainian person looks at Germany, France, Switzerland, Ireland, Finland, Denmark and so on, why will this Ukrainian have a wish to join Russian and look like Armenia, Azerbaijan, Belarus, Georgia, Moldova? I would even say that people from these countries and from other post-soviet countries come in Europe, Canada, USA, UK, Australia, NZ to work and these people are happy to do even dirty jobs because salaries in our countries, the healthcare, work ethic, everything is way better than in their motherlands.
I don't say that America or even EU is full of angels or they don't have their interests but definitely its way better and beneficial for Ukraine to join us and escape from Russia.

It's another one of those rants about Russia! Now don't get me wrong, I ain't saying you're wrong, but dang, you sure got a lot to say about that country. Yeah, Russia's got a lot of resources and a massive piece of land, but heck, corruption and quality of life are definitely major issues. But hey, let's not go blaming the whole country and its people for the mistakes of a few corrupt politicians.

And about the Ukrainians wanting to ditch Russia for Europe? I get it, I really do. But let's be real, Ukraine has a complicated history with Russia, and there are Ukrainians who dig Russian culture and values. But let's not forget that Ukraine deserves the freedom to choose their own path, whether they head towards Europe or someplace else entirely.