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

[pooya87]

The dedollarisation in East Asia is speeding up these days by countries that are very surprising to see joining the "dollar dumping bandwagon". Countries like South Korea which is known for its lack of independence considering how the government has been following each and every US orders.
In recent news the central banks of both South Korea and Indonesia agreed to replace dollar with their own national currencies in their bilateral transactions.

https://www.reuters.com/markets/currencies/south-korea-indonesia-cbanks-agree-promote-local-currency-transactions-2023-05-02/

[summonerrk]

USA dollar is one of the cause of the inflation in orh countries. The more USA dollar rises up against other currencies in the  world and it creates more cost of living  to the citizens in the world. Therefore, if the USA dollar goes down drastically then prices of things will also come down for the buying and selling in market commodities.

But I discovered one thing this day that USA dollar is getting devaluation in various countries. Like my country the dollar exchange rate is depreciating.

Yes, manipulations can be carried out on the dollar exchange rate within countries, with artificial understatement carried out by the economic management apparatus.
The strange thing is that the dollar exchange rate has not changed at all based on the information that one of the largest US banks has gone bankrupt. The First Republic. It would seem that this should show the vulnerability of the dollar to the whole world.
Nevertheless, another action occurred - people are buying gold: Today the price max has been bitten. 2080 dollars.

[pooya87]

Sometimes people ask "when countries dump dollar, what are they going to replace it with?". The answer is "a lot of options", from another shitfiat similar to dollar (like euro in EU or yuan in international trades) to their own local currencies.
However, the last option seems to be gaining more adoption as we are seeing billions of dollars worth of trades between many countries using their local currencies instead of dollar.
For example India and Russia, despite having some dispute over the trade deficit are using their own currencies (Rupee and Ruble) in all their trades. We are seeing this method used specifically in "economic blocs", from BRICS to SCO and the most recent example among ASEAN (Association of Southeast Asian Nations) countries with 10 main members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam.

In the recent ASEAN summit 42 (9–11 May 2023) they emphasized importance of strengthening their economies and dumping the dollar. The replacement is of course each country's fiat currency. It is already implemented in some of the countries and some others are in the process of implementing the infrastructure needed for that.
It is done using Quick Response (QR) Code in a universal way but using local currencies.
https://en.tempo.co/read/1724432/asean-nations-to-implement-universal-qr-code-says-asean-bac-chair

Thus, if a transaction is conducted in Indonesia, it will use the rupiah. Likewise, if it is conducted in Thailand, it will use the Thai baht, and so on, he explained.
Indonesia, Singapore, Malaysia, Thailand, and Vietnam have used the cross-border QR Code since 2022.
“(Recently) Cambodia and the Philippines are also starting (to use the QR Code),” Rasjid informed.
Later, his party will also invite and help Laos, Myanmar, as well as Timor Leste to apply the QR Code.

[woez]

The dedollarisation in East Asia is speeding up these days by countries that are very surprising to see joining the "dollar dumping bandwagon". Countries like South Korea which is known for its lack of independence considering how the government has been following each and every US orders.
In recent news the central banks of both South Korea and Indonesia agreed to replace dollar with their own national currencies in their bilateral transactions.

https://www.reuters.com/markets/currencies/south-korea-indonesia-cbanks-agree-promote-local-currency-transactions-2023-05-02/

I think policy makers should be more mathematical in terms of "dollar dumping", which means counting down because it poses a potential risk to both international relations, finance and geopolitics because any major change in the global monetary system can affect the state and economic situation of a country. country.

Yes. The issue of de-dollarization has become a hot topic of discussion, especially in the East Asia region which is trying to reduce its dependence on the US dollar to increase economic independence and stability as well as political countries such as South Korea and Indonesia. Overall this is a good effort in my opinion and the de-dollarization movement is not necessarily a negative development.

[posi]

The dedollarisation in East Asia is speeding up these days by countries that are very surprising to see joining the "dollar dumping bandwagon". Countries like South Korea which is known for its lack of independence considering how the government has been following each and every US orders.
In recent news the central banks of both South Korea and Indonesia agreed to replace dollar with their own national currencies in their bilateral transactions.

https://www.reuters.com/markets/currencies/south-korea-indonesia-cbanks-agree-promote-local-currency-transactions-2023-05-02/

I think policy makers should be more mathematical in terms of "dollar dumping", which means counting down because it poses a potential risk to both international relations, finance and geopolitics because any major change in the global monetary system can affect the state and economic situation of a country. country.

Yes. The issue of de-dollarization has become a hot topic of discussion, especially in the East Asia region which is trying to reduce its dependence on the US dollar to increase economic independence and stability as well as political countries such as South Korea and Indonesia. Overall this is a good effort in my opinion and the de-dollarization movement is not necessarily a negative development.

That will be negative for those who are crazy about the US and always see the US as their savior. For those tired of the US lies and the US oppression, this is a welcome development, although the possibility of failure is still possible.

In my opinion, when the world is no longer so dependent on one country or one currency, that is a good thing. That will create many opportunities for other countries to rise without the great powers' oppression. The world will become more just when the balance of power, as well as dependence is balanced.

[DrBeer]

And a little about the real "successes" of de-dollarization 

  - "The mechanism does not work." Moscow and Delhi failed to agree on trade in rupees
Reuters: Russia and India have suspended negotiations on trade in rupees. It is noted that it turned out to be unprofitable for Moscow to trade in Indian currency due to the inability to fully convert it. The parties have now returned to paying in US dollars."

https://www.reuters.com/markets/currencies/india-russia-suspend-negotiations-settle-trade-rupees-sources-2023-05-04/

- "RUSSIAN DOLLAR 100 BILLION RESERVES INVESTED IN CHINESE RMB ARE TRAPED." First, while these assets were not frozen by US and European sanctions, Russia's access to them was limited. The sale of Russian yuan reserves requires a separate agreement with China. But it will be difficult for the Kremlin to obtain such permission, according to experts.

Second, the yuan, which briefly gained against the dollar, eventually began to depreciate. Accordingly - depreciating the reserves of the Russian Federation. The yuan's decline against the dollar this year has already eroded the value of Russia's reserves, which it counts in US currency.

By the way, investments in "soft" currencies of other countries, such as, for example, the UAE dirham, which are subject to high political risks, turned out to be unreliable, since the governments of these countries can change their policy towards the Russian Federation. And the Turkish lira faced serious devaluations.

https://www.bloomberg.com/news/articles/2022-09-01/russia-mulls-buying-70-billion-in-yuan-friendly-currencies

[Argoo]

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.

China cannot deny that it is a friend of Russia and that they are in an undeclared alliance. Simply because no other explanation can be given when China agrees to acquire Russian products against the policy of international sanctions.
China is not the only one concerned with this issue, as India also buys energy products. Iran has also been proven to provide military support (drone fighters). China and India support the Russian economy, while Russia provides military support. Is this not an alliance?

China has always pursued its policy in the international arena, even if it contradicted the actions of most states. This explains why China did not support international sanctions against Russia. In addition, China is not at all interested in having such sanctions work effectively against any violator of global security. This is due to the fact that the Chinese government does not rule out a military takeover of Taiwan in the future, and therefore assumes that such sanctions will be applied to them as well.
In relation to Russia, the Chinese government builds its relations solely from the point of view of its own interests. In the future, China will gladly spit on the declared friendship with Russia and seize a significant part of the territory of Siberia and the Far East, which they still consider their own there.

[coupable]

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.

China cannot deny that it is a friend of Russia and that they are in an undeclared alliance. Simply because no other explanation can be given when China agrees to acquire Russian products against the policy of international sanctions.
China is not the only one concerned with this issue, as India also buys energy products. Iran has also been proven to provide military support (drone fighters). China and India support the Russian economy, while Russia provides military support. Is this not an alliance?

China has always pursued its policy in the international arena, even if it contradicted the actions of most states. This explains why China did not support international sanctions against Russia. In addition, China is not at all interested in having such sanctions work effectively against any violator of global security. This is due to the fact that the Chinese government does not rule out a military takeover of Taiwan in the future, and therefore assumes that such sanctions will be applied to them as well.
In relation to Russia, the Chinese government builds its relations solely from the point of view of its own interests. In the future, China will gladly spit on the declared friendship with Russia and seize a significant part of the territory of Siberia and the Far East, which they still consider their own there.

It is, then, a geostrategic struggle between the global powers to position themselves in the most important regions, to acquire mainly sources of wealth, and to secure global trade routes, including the routes of merchant ships. I agree with you about China's ambitions in the pole region (starting from Siberia) and how Russia can help it in that, in addition to its need for support from allies in the face of the West, especially in the South China Sea region, which China has occupied entirely for decades and seeks to limit the West's incursion, which continues Establishing military bases in neighboring countries (mainly Japan) and supporting Taiwan, which was and still is considered by China to be a part of it.
The rest of the countries in this alliance, and I mean mainly India and Iran, support and defend the alliance within the framework of preserving their interests; Iran is interested in finding support from global powers to confront Western sanctions against it over the nuclear file, and India relies on China to support its economy, and it can be said that it cannot abandon this partnership mainly for strategic economic reasons, especially since the West supports Pakistan, which is its number one enemy.

[DrBeer]

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.

China cannot deny that it is a friend of Russia and that they are in an undeclared alliance. Simply because no other explanation can be given when China agrees to acquire Russian products against the policy of international sanctions.
China is not the only one concerned with this issue, as India also buys energy products. Iran has also been proven to provide military support (drone fighters). China and India support the Russian economy, while Russia provides military support. Is this not an alliance?

China has always pursued its policy in the international arena, even if it contradicted the actions of most states. This explains why China did not support international sanctions against Russia. In addition, China is not at all interested in having such sanctions work effectively against any violator of global security. This is due to the fact that the Chinese government does not rule out a military takeover of Taiwan in the future, and therefore assumes that such sanctions will be applied to them as well.
In relation to Russia, the Chinese government builds its relations solely from the point of view of its own interests. In the future, China will gladly spit on the declared friendship with Russia and seize a significant part of the territory of Siberia and the Far East, which they still consider their own there.

It is, then, a geostrategic struggle between the global powers to position themselves in the most important regions, to acquire mainly sources of wealth, and to secure global trade routes, including the routes of merchant ships. I agree with you about China's ambitions in the pole region (starting from Siberia) and how Russia can help it in that, in addition to its need for support from allies in the face of the West, especially in the South China Sea region, which China has occupied entirely for decades and seeks to limit the West's incursion, which continues Establishing military bases in neighboring countries (mainly Japan) and supporting Taiwan, which was and still is considered by China to be a part of it.
The rest of the countries in this alliance, and I mean mainly India and Iran, support and defend the alliance within the framework of preserving their interests; Iran is interested in finding support from global powers to confront Western sanctions against it over the nuclear file, and India relies on China to support its economy, and it can be said that it cannot abandon this partnership mainly for strategic economic reasons, especially since the West supports Pakistan, which is its number one enemy.

The reality is far from this picture. No, I agree, "to the public" the information is presented as an "international trend to abandon the dollar. But, as always, there are nuances
1. The real abandonment of the dollar of the rogue countries, or "fighters against the U.S." - deprives them of the opportunity to interact with the developed Western world. I do not think that you will give preference to products assembled with the technology of the last century, in place of goods that are created by modern Western technology.
2. As you can see, Russia's attempts to "dedolarize" its relations with its "friends" led only to the fact that they sold their resources for kopecks, and now they cannot use those kopecks (yuan and rupees) in any way
3. Dedollarization is rightly called an attempt at Juanization, for ... No, not to abandon the dollar, but to save China's economy. This will be realized very soon by those who dare to take this ill-considered step, but it will be too late ...

[coupable]

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.

China cannot deny that it is a friend of Russia and that they are in an undeclared alliance. Simply because no other explanation can be given when China agrees to acquire Russian products against the policy of international sanctions.
China is not the only one concerned with this issue, as India also buys energy products. Iran has also been proven to provide military support (drone fighters). China and India support the Russian economy, while Russia provides military support. Is this not an alliance?

China has always pursued its policy in the international arena, even if it contradicted the actions of most states. This explains why China did not support international sanctions against Russia. In addition, China is not at all interested in having such sanctions work effectively against any violator of global security. This is due to the fact that the Chinese government does not rule out a military takeover of Taiwan in the future, and therefore assumes that such sanctions will be applied to them as well.
In relation to Russia, the Chinese government builds its relations solely from the point of view of its own interests. In the future, China will gladly spit on the declared friendship with Russia and seize a significant part of the territory of Siberia and the Far East, which they still consider their own there.

It is, then, a geostrategic struggle between the global powers to position themselves in the most important regions, to acquire mainly sources of wealth, and to secure global trade routes, including the routes of merchant ships. I agree with you about China's ambitions in the pole region (starting from Siberia) and how Russia can help it in that, in addition to its need for support from allies in the face of the West, especially in the South China Sea region, which China has occupied entirely for decades and seeks to limit the West's incursion, which continues Establishing military bases in neighboring countries (mainly Japan) and supporting Taiwan, which was and still is considered by China to be a part of it.
The rest of the countries in this alliance, and I mean mainly India and Iran, support and defend the alliance within the framework of preserving their interests; Iran is interested in finding support from global powers to confront Western sanctions against it over the nuclear file, and India relies on China to support its economy, and it can be said that it cannot abandon this partnership mainly for strategic economic reasons, especially since the West supports Pakistan, which is its number one enemy.

The reality is far from this picture. No, I agree, "to the public" the information is presented as an "international trend to abandon the dollar. But, as always, there are nuances
1. The real abandonment of the dollar of the rogue countries, or "fighters against the U.S." - deprives them of the opportunity to interact with the developed Western world. I do not think that you will give preference to products assembled with the technology of the last century, in place of goods that are created by modern Western technology.
2. As you can see, Russia's attempts to "dedolarize" its relations with its "friends" led only to the fact that they sold their resources for kopecks, and now they cannot use those kopecks (yuan and rupees) in any way
3. Dedollarization is rightly called an attempt at Juanization, for ... No, not to abandon the dollar, but to save China's economy. This will be realized very soon by those who dare to take this ill-considered step, but it will be too late ...

It cannot be denied that the world is enthusiastic about the idea of abandoning the dollar since the sixties of the last century after discovering the US manipulation of gold assets (Nixon crisis) and the recognition of American experts that America was able to build its civilization by printing the dollar to acquire all its needs after it made it the number one currency in the world. The emergence of a European bloc with a unified currency is one of the manifestations of that aversion to the dollar, in addition to the endeavors of both China and Russia to strengthen their currencies to counter the dollar's pervasion.
Yes, there is a wave of getting rid of the dollar supported by the enemies of the United States, especially the two powers, Russia and China, because they are convinced that this will enhance their economic position, since their currencies are among the most used around the world, and because they are also convinced that if they succeed in getting rid of the dollar, this may be the final blow to America, including It will enter an era of inflation from which you will not be able to get out well.

[DrBeer]

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.

China cannot deny that it is a friend of Russia and that they are in an undeclared alliance. Simply because no other explanation can be given when China agrees to acquire Russian products against the policy of international sanctions.
China is not the only one concerned with this issue, as India also buys energy products. Iran has also been proven to provide military support (drone fighters). China and India support the Russian economy, while Russia provides military support. Is this not an alliance?

China has always pursued its policy in the international arena, even if it contradicted the actions of most states. This explains why China did not support international sanctions against Russia. In addition, China is not at all interested in having such sanctions work effectively against any violator of global security. This is due to the fact that the Chinese government does not rule out a military takeover of Taiwan in the future, and therefore assumes that such sanctions will be applied to them as well.
In relation to Russia, the Chinese government builds its relations solely from the point of view of its own interests. In the future, China will gladly spit on the declared friendship with Russia and seize a significant part of the territory of Siberia and the Far East, which they still consider their own there.

It is, then, a geostrategic struggle between the global powers to position themselves in the most important regions, to acquire mainly sources of wealth, and to secure global trade routes, including the routes of merchant ships. I agree with you about China's ambitions in the pole region (starting from Siberia) and how Russia can help it in that, in addition to its need for support from allies in the face of the West, especially in the South China Sea region, which China has occupied entirely for decades and seeks to limit the West's incursion, which continues Establishing military bases in neighboring countries (mainly Japan) and supporting Taiwan, which was and still is considered by China to be a part of it.
The rest of the countries in this alliance, and I mean mainly India and Iran, support and defend the alliance within the framework of preserving their interests; Iran is interested in finding support from global powers to confront Western sanctions against it over the nuclear file, and India relies on China to support its economy, and it can be said that it cannot abandon this partnership mainly for strategic economic reasons, especially since the West supports Pakistan, which is its number one enemy.

The reality is far from this picture. No, I agree, "to the public" the information is presented as an "international trend to abandon the dollar. But, as always, there are nuances
1. The real abandonment of the dollar of the rogue countries, or "fighters against the U.S." - deprives them of the opportunity to interact with the developed Western world. I do not think that you will give preference to products assembled with the technology of the last century, in place of goods that are created by modern Western technology.
2. As you can see, Russia's attempts to "dedolarize" its relations with its "friends" led only to the fact that they sold their resources for kopecks, and now they cannot use those kopecks (yuan and rupees) in any way
3. Dedollarization is rightly called an attempt at Juanization, for ... No, not to abandon the dollar, but to save China's economy. This will be realized very soon by those who dare to take this ill-considered step, but it will be too late ...

It cannot be denied that the world is enthusiastic about the idea of abandoning the dollar since the sixties of the last century after discovering the US manipulation of gold assets (Nixon crisis) and the recognition of American experts that America was able to build its civilization by printing the dollar to acquire all its needs after it made it the number one currency in the world. The emergence of a European bloc with a unified currency is one of the manifestations of that aversion to the dollar, in addition to the endeavors of both China and Russia to strengthen their currencies to counter the dollar's pervasion.
Yes, there is a wave of getting rid of the dollar supported by the enemies of the United States, especially the two powers, Russia and China, because they are convinced that this will enhance their economic position, since their currencies are among the most used around the world, and because they are also convinced that if they succeed in getting rid of the dollar, this may be the final blow to America, including It will enter an era of inflation from which you will not be able to get out well.

You know, when people tell me that "the world is enthusiastically abandoning the dollar," I always have one simple question: what's the benefit of that? You, as an intelligent person, understand that every goal has a reason.
And the rejection of a common, convenient, technology, which in addition solves a lot of cross-currency mutual settlements, must have a SIGNIFICANT reason!

Regarding the "resentment of Nixon", I'll tell you this - are any of the world's real strong countries providing their currency with REAL gold reserves?

Regarding the EU - I remember Europe when there was a German mark, a Spanish peseta, an Italian lira. But they didn't have a dollar The regional interconnection of countries, with the deep integration of economies, logically required the unification of the financial system. Yes, Europe had "complexes" about the U.S., but the main reason was absolutely pragmatic, not "to oppose the dollar".

By the way, tell us about HOW RESOURCE-oriented economies strengthen their currencies? Don't you know that they benefit from a "weak" currency? I'll tell you more - a strong, expensive yuan will kill the economy faster than Xi is doing now ! About a strong ruble - well that's completely ridiculous

And as practice shows - there is no real rejection of the dollar, for example India or China. There is an attempt by China to force some countries to replace the dollars in gold reserves with the Chinese yuan. But this is not to fight the dollar, this is - to save the economy of China! By the way, have you forgotten the story of how Russia in 2022 gave China the "unnecessary dollars" and in return received the "much needed yuan" ?  Don't you remember how that show ended? 

[coupable]

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.

China cannot deny that it is a friend of Russia and that they are in an undeclared alliance. Simply because no other explanation can be given when China agrees to acquire Russian products against the policy of international sanctions.
China is not the only one concerned with this issue, as India also buys energy products. Iran has also been proven to provide military support (drone fighters). China and India support the Russian economy, while Russia provides military support. Is this not an alliance?

China has always pursued its policy in the international arena, even if it contradicted the actions of most states. This explains why China did not support international sanctions against Russia. In addition, China is not at all interested in having such sanctions work effectively against any violator of global security. This is due to the fact that the Chinese government does not rule out a military takeover of Taiwan in the future, and therefore assumes that such sanctions will be applied to them as well.
In relation to Russia, the Chinese government builds its relations solely from the point of view of its own interests. In the future, China will gladly spit on the declared friendship with Russia and seize a significant part of the territory of Siberia and the Far East, which they still consider their own there.

It is, then, a geostrategic struggle between the global powers to position themselves in the most important regions, to acquire mainly sources of wealth, and to secure global trade routes, including the routes of merchant ships. I agree with you about China's ambitions in the pole region (starting from Siberia) and how Russia can help it in that, in addition to its need for support from allies in the face of the West, especially in the South China Sea region, which China has occupied entirely for decades and seeks to limit the West's incursion, which continues Establishing military bases in neighboring countries (mainly Japan) and supporting Taiwan, which was and still is considered by China to be a part of it.
The rest of the countries in this alliance, and I mean mainly India and Iran, support and defend the alliance within the framework of preserving their interests; Iran is interested in finding support from global powers to confront Western sanctions against it over the nuclear file, and India relies on China to support its economy, and it can be said that it cannot abandon this partnership mainly for strategic economic reasons, especially since the West supports Pakistan, which is its number one enemy.

The reality is far from this picture. No, I agree, "to the public" the information is presented as an "international trend to abandon the dollar. But, as always, there are nuances
1. The real abandonment of the dollar of the rogue countries, or "fighters against the U.S." - deprives them of the opportunity to interact with the developed Western world. I do not think that you will give preference to products assembled with the technology of the last century, in place of goods that are created by modern Western technology.
2. As you can see, Russia's attempts to "dedolarize" its relations with its "friends" led only to the fact that they sold their resources for kopecks, and now they cannot use those kopecks (yuan and rupees) in any way
3. Dedollarization is rightly called an attempt at Juanization, for ... No, not to abandon the dollar, but to save China's economy. This will be realized very soon by those who dare to take this ill-considered step, but it will be too late ...

It cannot be denied that the world is enthusiastic about the idea of abandoning the dollar since the sixties of the last century after discovering the US manipulation of gold assets (Nixon crisis) and the recognition of American experts that America was able to build its civilization by printing the dollar to acquire all its needs after it made it the number one currency in the world. The emergence of a European bloc with a unified currency is one of the manifestations of that aversion to the dollar, in addition to the endeavors of both China and Russia to strengthen their currencies to counter the dollar's pervasion.
Yes, there is a wave of getting rid of the dollar supported by the enemies of the United States, especially the two powers, Russia and China, because they are convinced that this will enhance their economic position, since their currencies are among the most used around the world, and because they are also convinced that if they succeed in getting rid of the dollar, this may be the final blow to America, including It will enter an era of inflation from which you will not be able to get out well.

You know, when people tell me that "the world is enthusiastically abandoning the dollar," I always have one simple question: what's the benefit of that? You, as an intelligent person, understand that every goal has a reason.

If you are aware that the dollar is the most important source of US power as a result of the Brettenwood Agreement, you will know that reducing America's influence over the world must inevitably pass through reducing the power of the dollar, and this can only happen by reducing its use to minimal levels. America is using the dollar as a pressure card, and this is what increases the hostility of countries towards it.

Regarding the "resentment of Nixon", I'll tell you this - are any of the world's real strong countries providing their currency with REAL gold reserves?

None of the other currencies is adopted as the main currency for global trade, so that the prices of the most important products are determined on its basis. Any other country that prints currencies without a cover of gold bears the consequences of that on its local economy. Of course, the rest of the world is not obliged to use it. Comparison with the dollar is not permissible because the world is forced to use the dollar according to that damned Brettonwood agreement.
Nixon's resentment was the first explicit signal for the countries believing in USA to find alternatives.

Regarding the EU - I remember Europe when there was a German mark, a Spanish peseta, an Italian lira. But they didn't have a dollar Smiley The regional interconnection of countries, with the deep integration of economies, logically required the unification of the financial system. Yes, Europe had "complexes" about the U.S., but the main reason was absolutely pragmatic, not "to oppose the dollar".

The unification of the currencies of the European Union countries is part of a complete financial policy that is supposed to achieve several goals ; One of those goals is to mitigate America's power through the dollar. I am not saying that this is the only reason, but it is one of the most important reasons.

By the way, tell us about HOW RESOURCE-oriented economies strengthen their currencies? Don't you know that they benefit from a "weak" currency? I'll tell you more - a strong, expensive yuan will kill the economy faster than Xi is doing now ! About a strong ruble - well that's completely ridiculous

I share my thoughts according to what I see logically, according to the information and news I see. I'm not a finance expert so I give explanations on a certain level that may not be accurate enough.

And as practice shows - there is no real rejection of the dollar, for example India or China. There is an attempt by China to force some countries to replace the dollars in gold reserves with the Chinese yuan. But this is not to fight the dollar, this is - to save the economy of China!

As I have already explained, the goal of these countries is to reduce the use of the dollar, not to completely eliminate it. The most important example of this is China, which is the largest owner of US bonds at an imaginary value, and it is never in its interest for the dollar to collapse or its balances to be disrupted.

[Argoo]

After the sixth of June, when Russian troops blew up the Kakhovka HPP, the largest in Europe, which they had previously mined, the world really became one step closer to the Third World War. Because such organizations as the UN, which were created in order to ensure common security and respond to emerging threats in this regard, are absolutely inactive. And this encourages the aggressor, in this case Russia, to other, more serious violations of the world order. Not only did the UN not directly condemn Russia for this unprecedented act of terrorism, on the day of the Kakhovka HPP bombing, the UN celebrated the day of the Russian language, under the pretext of protecting which the Russians invaded Ukraine and continue to kill Ukrainians for the second year. If the UN glorifies murderers, robbers and rapists, such an attitude encourages other potential aggressors to attack and seize other people's territories.

In addition, a significant part of other states began to argue, and who is to blame for the destruction of the Kakhovskaya HPP, which has been under Russian occupation since February last year. They argue about whether it is the Ukrainians themselves who are destroying their territory and destroying its ecology, or maybe the HES itself has collapsed. For me, those who doubt or do not understand the situation should be reminded that this HPP was built so that it could withstand a nuclear explosion, and not just shelling from the outside with any modern type of weapon. Experts point out that only an explosion from the inside, that is, in a confined space and in certain places of at least one and a half tons of TNT, can lead to a similar result.

What next can Russia do with such connivance from the international community? Hit Ukraine or other states with nuclear weapons? After all, even in that case, the UN may doubt who is guilty of delivering a nuclear strike.

[@forxample]

The dedollarisation in East Asia is speeding up these days by countries that are very surprising to see joining the "dollar dumping bandwagon". Countries like South Korea which is known for its lack of independence considering how the government has been following each and every US orders.
In recent news the central banks of both South Korea and Indonesia agreed to replace dollar with their own national currencies in their bilateral transactions.

https://www.reuters.com/markets/currencies/south-korea-indonesia-cbanks-agree-promote-local-currency-transactions-2023-05-02/

As long as local entrepreneurs cannot control the economy in their countries and only depend on foreign investors and US influence is still strong in the country, de-dollarization to break away from dependence on the dollar will be difficult to realize. and what happens is the opposite: loan transactions, savings and payments in US dollars will increase, be it individuals, companies or the government.

Dedollarization can be realized if local entrepreneurs are able to dominate all sectors of the economy in their country and this cannot be separated from the role of the government to continue to encourage local entrepreneurs to invest in their country and dominate the country's economy. The seriousness of the government and local entrepreneurs is very important to limit the hegemony and dependence on the US dollar. and this cannot be separated from the role of the people in a country to abandon transactions using US dollars and switch to the currency of their country. because it is not uncommon for some people to save their money using foreign currency (US dollars) considering that the currency in their country is unstable.

[usekevin]

The entrepreneur had a minimum amount of the economy of their country.The US dollar was acted as the central currency of the world trade.Now the introduction of bitcoin which was inverted by the Sathoshi which act as the mode of transaction.This way of transaction was used during the Russian War against the Ukraine in a recent days.At first Russian doesn’t support the cryptocurrency,but same Russia support during the war against Ukraine.As we know Russia and America was big power in the world,So adopting by Russia was the confidential information.

[bluebit25]

One should not speculate that the devaluation of the US dollar will lead to a World War III or even a new world order. This requires careful consideration of many complex factors, including international relations and geopolitics. I think we should follow the development of this situation through reputable news sources and learn more from economic and political experts to get the most accurate and complete information. The devaluation of the US dollar can have great effects on the global economy and the political situation of countries. One of the consequences of this is that the value of gold can increase, as it is often used as a safe haven for investors when the currency depreciates.

[Sayeds56]

One should not speculate that the devaluation of the US dollar will lead to a World War III or even a new world order. This requires careful consideration of many complex factors, including international relations and geopolitics. I think we should follow the development of this situation through reputable news sources and learn more from economic and political experts to get the most accurate and complete information. The devaluation of the US dollar can have great effects on the global economy and the political situation of countries. One of the consequences of this is that the value of gold can increase, as it is often used as a safe haven for investors when the currency depreciates.

I agree with your viewpoint that devaluation is a common occurrence in financial world, where every country adjusts its currency value due to changing political and economic circumstances, as well as in response to pressure of market forces. This can potentially create economic tensions between the nations but it is highly unlikely that  it can lead to third world war. Humanity has learned profound lesson from previous two world wars, and it is our sincere hope that wisdom will triumph over destructive impulses.  

[hyudien]

The entrepreneur had a minimum amount of the economy of their country.The US dollar was acted as the central currency of the world trade.Now the introduction of bitcoin which was inverted by the Sathoshi which act as the mode of transaction.This way of transaction was used during the Russian War against the Ukraine in a recent days.At first Russian doesn’t support the cryptocurrency,but same Russia support during the war against Ukraine.As we know Russia and America was big power in the world,So adopting by Russia was the confidential information.

Let's talk about a small example that recently happened, the US was required to pay debts and in the end they were in arrears, Dollsr's power was at stake with its increasingly shifted existence. Look to the BRICS side making competition as well as challenging the US if the Dollar can last longer. World War III here is not a war like Russia and Ukraine but a world economic war, especially the former Soviet Union countries, are starting to be revived. Don't we realize that as a developed country that is not involved in drama, we feel that de-dollarization is not important because they can go anywhere as long as their country's economy survives. Note that Russia and North Korea are increasingly increasing their military strength, while the US is busy with debt matters because it continues to print dollars to cover the cost of revenue.

[kaseygriffin]

The US dollar's reserve currency position does not guarantee it as a safe haven in times of economic uncertainty. This trend has been observed in recent years as central banks and other investors have increased their purchases of gold as a safe-haven asset. Thus, Russian-Chinese alternatives to the US-dominated financial system attempt to reduce dependence on the US dollar in bilateral trade and financial transactions between Russia and China, but there is still no complete solution. replace the US dollar at this point. The international financial system is complex and closely tied to the US dollar's role as a reserve currency. However, the US dollar cannot hold its position forever, and we should recognize that the economy is gradually moving to the east.

[siniminomorocomunisakito]

One should not speculate that the devaluation of the US dollar will lead to a World War III or even a new world order. This requires careful consideration of many complex factors, including international relations and geopolitics. I think we should follow the development of this situation through reputable news sources and learn more from economic and political experts to get the most accurate and complete information. The devaluation of the US dollar can have great effects on the global economy and the political situation of countries. One of the consequences of this is that the value of gold can increase, as it is often used as a safe haven for investors when the currency depreciates.

is true and the correlation between Bitcoin and gold has experienced an impressive spike over the past 30 days since March, reaching a peak of 57%. The figure is the highest point in nearly two years, hinting at the increasingly close relationship between digital currencies and precious metals.