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

[WatChe]

In West Asia nobody wants these radicals who are bombing innocent civilians on daily basis but some of the regimes were forced to accept its existence either because they were defeated in the war (eg. Egypt) or were ordered by United States to accept forced relationships (eg. Saudi regime). Such forced normalization attempts never changed the view of the population though which became too obvious during the World Cup in Qatar.
The regimes in West Asia are also slowly getting out of that forced position as US becomes weaker and is kicked out of the region. For example recently many of them including Saudi regime rejected flights from the occupied lands.

Gulf countries along with other Arab nations have strong stance on Israel from day one and its surprising how UAE took U-turn on his stance about Israel and have recognized it as state. There are very few like Iran that are still standing firm on there initial stance.
Even in Pakistan we are hearing news that government is doing negotiations with Israel. The former prime minister of Pakistan Imran Khan had very clear stance on Israel that Pakistan will never recognize that state but after his regime was changed the new government (very much pro USA) are doing such things which are against the will of people in Pakistan.

[1714678298]

1714678298

[1714678298]

1714678298

[1714678298]

1714678298

[1714678298]

1714678298

[Synchronice]

William Ruto, the president of Kenya gave an interesting speech recently. In his speech he pointed out that his country is going to stop using dollar to import fuel (basically an arrow at the heart of Petrodollar) and he also pointed out the deals with the oil producers (like Arabs) to stop using dollar. But that's not the interesting part of his speech.

The interesting part was that he somewhat approved a rumor that has been going around for some time. He literary warned his people to avoid dollar as it is about to dump hard in a couple of weeks. The rumor that this warning seems to approve is that "142 countries have came to an agreement behind the scene to dump dollar at the same time and refuse to accept it as payment". They even have a name for it: Operation Sandman.

The following weeks are going to be very interesting if this rumor is true.

While everything that happens around financial system will negatively affect everyone, it's quite interesting event at the same time. Countries want to damp dollar and move on Gold? Good luck, the USA, Germany, Italiy and France are leading the chart. Do they want to move on Chinese yuan and cut ties with Western countries? Good luck again, experience the low salaries, high workload, increased corruption, increased mental degradation, worse healthcare, I can continue this list endessly.

The USA has roots so deeply that it will be very hard to cut ties with USD and move on Gold, even here it has an advantage too. Also, after USD, the most popular currency is Euro. I don't think that any country will benefit by cutting ties with the USA, EU, Canada/Australia/NewZealand/UK and will reach to heaven by befriending with less developed countries.
But you reap what you sow. Plain and simple!

[Casdinyard]

I think there's a simple answer as to why the US dollar is continuously dumping in value despite being revered as one of the most secure currencies in the market and even more so becoming the pegged currency for most countries nowadays, and that answer is "US sucks so much right now in the government decision-making department". For instance, it is noted that the government of US prints more money than it burns, therefore contributing to the inflation of the dollar, and because as it stands today, besides the nuclear warheads they use which are by the way they are prohibited to use against the Geneva Convention anyway, US has nothing else going for it, and this could partly be the reason why the coin is dripping in value.

[Kadal Ijo]

As long as the world still uses paper money that has no value, the threat of inflation will continue to occur, moreover, most countries do not have a strong basis for printing money, as long as they want to print, they will not delay any longer. It can happen at any time because many countries are competing with each other to strengthen their military.

[pooya87]

The former prime minister of Pakistan Imran Khan had very clear stance on Israel that Pakistan will never recognize that state but after his regime was changed the new government (very much pro USA) are doing such things which are against the will of people in Pakistan.

Exactly. Many governments were forced to "obey" US policies. It is understandable too, after all US used to be be the only existing super power for decades that has been dictating the global policies which countries had to obey. It is also not easy to go against those policies even though it is rewarding, specially for countries that don't have the resources. Hence they sometimes have to even break their principles.

This is also one of the reasons why dedollarisation is important for the world. For example Pakistan that had to ask IMF for a dollar loan and be forced to apply laws (such as increasing energy prices) that hurts its economy while not even receiving the loan can now ask for a loan from China for example and not be forced to do anything like before and also be able to complete the gas pipeline so that it can receive gas from its western neighbor Iran since US won't have the same leverage to use to force Pakistan to not do it!

While everything that happens around financial system will negatively affect everyone, it's quite interesting event at the same time. Countries want to damp dollar and move on Gold? Good luck, the USA, Germany, Italiy and France are leading the chart. Do they want to move on Chinese yuan and cut ties with Western countries? Good luck again, experience the low salaries, high workload, increased corruption, increased mental degradation, worse healthcare, I can continue this list endessly.

The USA has roots so deeply that it will be very hard to cut ties with USD and move on Gold, even here it has an advantage too. Also, after USD, the most popular currency is Euro. I don't think that any country will benefit by cutting ties with the USA, EU, Canada/Australia/NewZealand/UK and will reach to heaven by befriending with less developed countries.
But you reap what you sow. Plain and simple!

Things are not this black and white. Dumping dollar doesn't mean cutting ties with any of those countries you named. It means for example if Brazil wants to trade with one of its neighbors like Colombia or Venezuela they will no longer use dollar, they use their own currencies and other form of trade agreements. When they want to trade with China they use Yuan and when they want to trade with US and its colonies they use dollar.

Even if they move to gold, it doesn't matter who has the most of it! It is not a dick measuring contest
What it means is that they trades would be backed by something that is moderately stable and most important of all gold is something that you can NOT print out of thin air any time you wanted to!

P.S. Don't forget that 80-90 years or maybe more ago most people in the world didn't even know what dollar is. 250 years ago US didn't even exist and for thousands of years people from hundred something countries were trading with each other without problems they have today.

[bangjoe]

While everything that happens around financial system will negatively affect everyone, it's quite interesting event at the same time. Countries want to damp dollar and move on Gold? Good luck, the USA, Germany, Italiy and France are leading the chart. Do they want to move on Chinese yuan and cut ties with Western countries? Good luck again, experience the low salaries, high workload, increased corruption, increased mental degradation, worse healthcare, I can continue this list endessly.

The USA has roots so deeply that it will be very hard to cut ties with USD and move on Gold, even here it has an advantage too. Also, after USD, the most popular currency is Euro. I don't think that any country will benefit by cutting ties with the USA, EU, Canada/Australia/NewZealand/UK and will reach to heaven by befriending with less developed countries.
But you reap what you sow. Plain and simple!

Things are not this black and white. Dumping dollar doesn't mean cutting ties with any of those countries you named. It means for example if Brazil wants to trade with one of its neighbors like Colombia or Venezuela they will no longer use dollar, they use their own currencies and other form of trade agreements. When they want to trade with China they use Yuan and when they want to trade with US and its colonies they use dollar.

Even if they move to gold, it doesn't matter who has the most of it! It is not a dick measuring contest
What it means is that they trades would be backed by something that is moderately stable and most important of all gold is something that you can NOT print out of thin air any time you wanted to!

P.S. Don't forget that 80-90 years or maybe more ago most people in the world didn't even know what dollar is. 250 years ago US didn't even exist and for thousands of years people from hundred something countries were trading with each other without problems they have today.

Basically all countries have the freedom of international transactions with any country and use any means of payment depending on how each country regulates it in international trade.
I really like international trade when you want to buy goods from my country using my country's currency and when I want to buy goods from your country I use your country's currency, I think this trading system is easier and of course mutually beneficial instead of having to buy dollars first to make transactions, or depending on one another's agreement in trading such as using gold or bitcoin for example.

At that time, I don't think anyone knew the dollar, most people used gold to be used as a transaction tool because everyone believed that gold was very valuable and it took time to mine it, unlike dollars or other fiat, which they could easily print at will.

[Synchronice]

While everything that happens around financial system will negatively affect everyone, it's quite interesting event at the same time. Countries want to damp dollar and move on Gold? Good luck, the USA, Germany, Italiy and France are leading the chart. Do they want to move on Chinese yuan and cut ties with Western countries? Good luck again, experience the low salaries, high workload, increased corruption, increased mental degradation, worse healthcare, I can continue this list endessly.

The USA has roots so deeply that it will be very hard to cut ties with USD and move on Gold, even here it has an advantage too. Also, after USD, the most popular currency is Euro. I don't think that any country will benefit by cutting ties with the USA, EU, Canada/Australia/NewZealand/UK and will reach to heaven by befriending with less developed countries.
But you reap what you sow. Plain and simple!

Things are not this black and white. Dumping dollar doesn't mean cutting ties with any of those countries you named. It means for example if Brazil wants to trade with one of its neighbors like Colombia or Venezuela they will no longer use dollar, they use their own currencies and other form of trade agreements. When they want to trade with China they use Yuan and when they want to trade with US and its colonies they use dollar.

Even if they move to gold, it doesn't matter who has the most of it! It is not a dick measuring contest
What it means is that they trades would be backed by something that is moderately stable and most important of all gold is something that you can NOT print out of thin air any time you wanted to!

P.S. Don't forget that 80-90 years or maybe more ago most people in the world didn't even know what dollar is. 250 years ago US didn't even exist and for thousands of years people from hundred something countries were trading with each other without problems they have today.

For the United States of America, that is and wants to be a global leader, what will dollar abandonment mean? Cutting ties with them, it definitely means that and we can't deny. I don't think that the USA will sit down and watch how China trades in yuan with Russia & Iran and how other countries trade with their own currencies, America will smell fear, fear of losing control!  And do you know what person does who had a great control and influence but is losing it? He goes insane and does absolutely everything to keep control. America doesn't spend tons on money on military for beautiful Youtube videos and news articles, it spends tons of money on it because it wants to create fear and keep power in its hands.

If we start to value things in golds or keep our reserves into it and I own the highest portion of Gold, definitely I'm the winner.

[WatChe]

Exactly. Many governments were forced to "obey" US policies. It is understandable too, after all US used to be be the only existing super power for decades that has been dictating the global policies which countries had to obey. It is also not easy to go against those policies even though it is rewarding, specially for countries that don't have the resources. Hence they sometimes have to even break their principles.

This is also one of the reasons why dedollarisation is important for the world. For example Pakistan that had to ask IMF for a dollar loan and be forced to apply laws (such as increasing energy prices) that hurts its economy while not even receiving the loan can now ask for a loan from China for example and not be forced to do anything like before and also be able to complete the gas pipeline so that it can receive gas from its western neighbor Iran since US won't have the same leverage to use to force Pakistan to not do it!

Now in Pakistan there is strong feeling of anger among people for the Army since they keep on changing civil governments (with the help of Big Powers). People are openly criticizing Army and Army is trying his best to keep his control intact. The point is USA with the help of Pakistan Army is controlling the government in Pakistan for decades but it seems like that strategy won't work anymore.

The irony is that Pakistan who is facing energy crisis is sitting very next to World biggest energy reserves aka Iran. We are forced not to buy cheap gas from Iran. It's like sitting thirsty on a river bank (where you are forced not to drink water from the river). While there are EU countries that are still getting energy supplies from Russia. https://www.reuters.com/business/energy/russian-gas-europe-via-ukraine-transit-rises-2023-02-01/

[STT]

It should be noted the US Dollar is still backed by a large amount of gold in Fort Knox or similar deposits; '2.3% of all the gold ever refined in the world'.  The larger problem is that despite being probably the largest holder of gold, the debt issued far out weighs that asset.   Part of what would occur if Dollar did decline is that gold rises which raises the value of these reserves.   If something like 10k per ounce gold happened I wonder how much help that would provide towards the debt repayment, the point being its not a simple transition as USA has many commodity reserves to call on in its favor.

[Alpha Marine]

While everything that happens around financial system will negatively affect everyone, it's quite interesting event at the same time. Countries want to damp dollar and move on Gold? Good luck, the USA, Germany, Italiy and France are leading the chart. Do they want to move on Chinese yuan and cut ties with Western countries? Good luck again, experience the low salaries, high workload, increased corruption, increased mental degradation, worse healthcare, I can continue this list endessly.

I find it funny when I see countries say they can't trust the United State but they go ahead and trust China. I get that the U.S. is not a saint but what I don't understand is who made China the saint? They just want what the U.S. has in the international market. I don't see how doing business with China is better than doing business with the U.S.
Im not a big fan of the U.S. but I think it's naive to think China is any better.
I guess they see the Chinese yuan as better than the dollar because it doesn't affect the international market. If you trade places with the dollar and the yuan it would still be the same outcome. 

[cafee_orange]

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?

I want to emphasize that currently the world economy is experiencing major paralysis, almost all countries in the world are experiencing setbacks after being hit by the corona virus some time ago. with this heavy incident we all feel setbacks in all aspects. it doesn't stop there, even the value of the currency is weakening and only the value of gold is increasing.
well,, therefore responding to what you said above that the new world order and the future is a hope for progress that continues to grow, gold is a guide for us that can maintain the value of assets if the world is shaken again by unwanted events as before and war. I think gold apprentices can provide answers for the future of the new world order

[kak uli]

I think for now the stage for the formation of a new world order is starting to form, but when that stage is formed, Fiat currency and gold are only unused assets, but only for storage collections, what will be used for these future stages is currency digital which is used as a more valuable asset, whether it's bitcoin or other altcoins that can be used as a transaction tool or can store asset value

[serveria.com]

It should be noted the US Dollar is still backed by a large amount of gold in Fort Knox or similar deposits; '2.3% of all the gold ever refined in the world'.  The larger problem is that despite being probably the largest holder of gold, the debt issued far out weighs that asset.   Part of what would occur if Dollar did decline is that gold rises which raises the value of these reserves.   If something like 10k per ounce gold happened I wonder how much help that would provide towards the debt repayment, the point being its not a simple transition as USA has many commodity reserves to call on in its favor.

That makes things even worse - remember what happened to many exchanges before they went bust? First they start spending their own tokens/stablecoins, if it doesn't help they start burning BTC reserves to stay afloat, which most of the time leads to a complete disaster, because BTC reserves are not sufficient. So if USD rate starts rolling downhill and the US will start selling their gold reserves and the information about this leaks, this will lead to a financial disaster.

[Haunebu]

New world order? Lol. This isn't the first time that someone thought about this stuff and it certainly won't be the last. History has taught us again and again not to underestimate the Dollar and the Western powers.

Every single economy is suffering as expected after the COVID outbreak which implies that all currencies(Not just the Dollar) are suffering and this will most probably continue until sometime next year.

Am expecting the global economy to fully recover by 2025 at the earliest.

[pooya87]

I don't think that the USA will sit down and watch how China trades in yuan with Russia & Iran and how other countries trade with their own currencies, America will smell fear, fear of losing control!  And do you know what person does who had a great control and influence but is losing it? He goes insane and does absolutely everything to keep control.

This is exactly why US is waging war against the whole world. From the armed conflict they started with Russia to the cold war they are fighting with everyone else. Just google China's one-road-one-belt route on the map and then check the news about the countries that are involved in that route. Every single one of them had a short lived but major riots that started from a fake news!
US has indeed been very active over the past couple of years trying to stop dedollarisation ... and failing to do so.

It should be noted the US Dollar is still backed by a large amount of gold

The entire US gold reserves only covers a teeny tiny fraction of the total amount of dollar they've printed all these years!

On another news US dollar usage as world reserve currency is at a 25-year low at this point while many countries are dumping dollar and sell the bonds they were bagholding.

[Dickiy]

New world order? Lol. This isn't the first time that someone thought about this stuff and it certainly won't be the last. History has taught us again and again not to underestimate the Dollar and the Western powers.

Every single economy is suffering as expected after the COVID outbreak which implies that all currencies(Not just the Dollar) are suffering and this will most probably continue until sometime next year.

You may need to look at the history of how this world was formed from century to century, each generation and civilization has strong rulers both in terms of economic, political influence, and the extent of the territories that dominate the world such as the Mongolian Empire, the Soviet Union, Portugal, the Netherlands and others. Maybe at that time people thought the same thing as you, those powerful countries at that time would not be defeated and would continue to have influence over other countries, but in fact today where did they go? all revolutions in this world have their respective heydays and are certainly accompanied by setbacks.
Just like in the economy, which has an economic bubble and one day the bubble will surely burst. likewise America will have its limits of influence in this world, and today as what has been conveyed by others in this forum shows the characteristics of a shift in influence.

[Ozero]

I find it funny when I see countries say they can't trust the United State but they go ahead and trust China. I get that the U.S. is not a saint but what I don't understand is who made China the saint? They just want what the U.S. has in the international market. I don't see how doing business with China is better than doing business with the U.S.
Im not a big fan of the U.S. but I think it's naive to think China is any better.
I guess they see the Chinese yuan as better than the dollar because it doesn't affect the international market. If you trade places with the dollar and the yuan it would still be the same outcome. 

Well said. First of all, it must be taken into account that the level of democracy in the United States is much higher than that of the Chinese communist regime. What are the recent joint military exercises of China, Russia and Iran. China's military alliance with the territorial states of Iran and Russia clearly demonstrates what the world can expect if these countries surpass the US and EU countries economically and militarily. Attacks on weak states and their absorption will become the norm. The world will howl after that, but it will be too late. What the United States is now criticizing for will become a trifle compared to what this trinity of states will get up to.

[Smartprofit]

As long as the world still uses paper money that has no value, the threat of inflation will continue to occur, moreover, most countries do not have a strong basis for printing money, as long as they want to print, they will not delay any longer. It can happen at any time because many countries are competing with each other to strengthen their military.

The US Government has a lot of Bitcoins that they have confiscated from criminals involved in illegal activities. 

China also has a lot of Bitcoins, although they have officially banned cryptocurrency trading and mining in their country. 

All this makes it possible to create a new global financial system based on Bitcoin.  To do this, Bitcoin must be officially declared the world's reserve currency, and Basel Committee regulations must be amended to require Central Banks to include Bitcoin in their gold and foreign exchange reserves. 

This will create a new financial system based not on petrodollars, but on Bitcoin.

[serveria.com]

I find it funny when I see countries say they can't trust the United State but they go ahead and trust China. I get that the U.S. is not a saint but what I don't understand is who made China the saint? They just want what the U.S. has in the international market. I don't see how doing business with China is better than doing business with the U.S.
Im not a big fan of the U.S. but I think it's naive to think China is any better.
I guess they see the Chinese yuan as better than the dollar because it doesn't affect the international market. If you trade places with the dollar and the yuan it would still be the same outcome. 

Well said. First of all, it must be taken into account that the level of democracy in the United States is much higher than that of the Chinese communist regime. What are the recent joint military exercises of China, Russia and Iran. China's military alliance with the territorial states of Iran and Russia clearly demonstrates what the world can expect if these countries surpass the US and EU countries economically and militarily. Attacks on weak states and their absorption will become the norm. The world will howl after that, but it will be too late. What the United States is now criticizing for will become a trifle compared to what this trinity of states will get up to.

What makes you think all people want democracy? If a country wants communism, let them have it. They want Taliban? Let them have Taliban. Who can stop them? The whole idea of world police or a country maintaining order and democracy worldwide is just wrong imho.

[Argoo]

Russia is still insisting on achieving ambitions that no one knows its limits. While the entire region is preparing itself for a long-term war. The Baltic countries are considering options to join NATO and fear that Russia will invade Poland, in addition to the buildup of arms on the western side. Surely you have recently heard about Putin's intention to turn Belarus into a nuclear base in response to the weapons that Britain had supported Ukraine for a while.
All indications confirm that Russia will not stop the war, especially since it has formed a front for itself that includes countries hostile to America and the West, such as China and Iran.

The Baltic countries - Latvia, Lithuania and Estonia have long been part of the NATO alliance. On April 4, Finland also officially became a member of NATO.
There is an opinion of some experts who warn that Putin from the territory of Belarus can launch nuclear strikes on Poland and Lithuania. Firstly, this will be to ensure that radioactive contamination is an obstacle to the supply of weapons to Ukraine. Secondly, by doing this, he sets Belarus up for a retaliatory strike at the place where nuclear missiles were launched. At the same time, this may be another bluff of Putin, who constantly scares the world with nuclear weapons in order not to provide military assistance to Ukraine.

As for Russia's allies - China and Iran, everything is not so simple here. The other day, Chinese Ambassador to the European Union Fu Cong made a statement, according to which, external observers misinterpret relations between China and Russia. According to him, Beijing does not support Moscow in the war against Ukraine, and the statement of the heads of the two countries, Putin and Xi Jinping, about friendship that "has no borders" is nothing more than a rhetorical device. The ambassador noted that China did not provide military assistance to Russia and did not recognize its attempts to annex Ukrainian territories, in particular Crimea and Donbass.

Source: https://politics.comments.ua/news/foreign-policy/kitay-zayavil-o-nepriznanii-kryma-i-donbassa-rossiyskimi-710656.html

The announcement came as a cold shower on the Russian side, which touted a strong relationship with China as one of Putin's main foreign policy achievements.