Ditch the Dollar

[Fortify]

Recently, some countries began to use their local currencies in trade with each other. It is true that there was no trade union between these countries, but these movements began to increase. This topic will shed light on some of these countries.

It's ironic that these countries decide to ditch the dollar for an even bigger devil. It's some very senior level politicians no doubt getting very rich doing grubby little deals that will end up in very opaque arrangements with China. America is by no means an angel, nor is it especially charitable in the rates it offers, but China has been shown to be much more manipulative in it's business and political dealings. The average person on the street from all of these countries is going to suffer for these trade agreements in future. Ironically China  is an even worse currency manipulator than the USA, which is funny because that is a very tall hurdle to reach over. These swap moves money from the clouds into the dark caves where no one can see.

[trendcoin]

I have no positive views of dollars or any other fiat currency as they cause labor theft through inflation. In addition, if we look at the historical change in global reserve currencies, we can easily predict what will happen to the dollar. That's why dollars or any other fiat currency is never a top priority for me. Instead of dollars or any other fiat currency, I try to raise assets with limited supply such as Bitcoin and gold in my vault. So, I'm giving up the dollar, but not for the purpose of using the yuan :)

[stompix]

Plus the narrative is, it will be the Chinese Yuan that's going to replace the U.S. Dollar, and that it's going to happen "soon". But what the people who push the narrative never researched is that China is one of the largest HODLers of the U.S. Dollar. It would be laughable if they'll cause its destruction, and burn the value of their own assets.

And it's not just that, the whole economy stands upon exports to the western world, the yuan is not getting dumped like other currencies just because there are USD entering the economy, if that is gone the yuan will follow the rest of the shitcoins, they need the US to be as powerful economic as it can in order to sell them stuff, otherwise is bankruptcy for them
Plus as you said, China is losing its workforce, and this thing was captured perfectly in this quote

“China has become older before it has become rich,”

The labor force is going down, 800 million in 2016, 780 million in 2021, and from here on it will be a pitfall, with what do you want to project power when your main source of power is going down?

Fans of populism, of course, "clap their hands", rejoicing. True, they do not understand that in fact, the situation is diametrically opposite ...

As I said, when it comes to politics yeah, ditch the dollar, when it comes to your own wallet, good dollar, more dollars!

It is laughable how every single politician from those countries that want to end the US dominance is having bank accounts in the western world, in either $ or Euro, is sending his kids to western countries for education, and is buying properties there, despite every single daying tweeting about the collapse of the western world.

[woez]

Yes, it's still warm. my view on the success or failure of this trend will depend on a variety of factors including economic and political stability, the strength of alternative currencies, and the willingness of participating nations to cooperate and compromise because doing so could challenge the US position as the dominant global superpower and its ability to deliver influence through economic means.

Shifting from the US dollar as the primary currency for international trade is a complex issue with potentially significant implications. While this can also promote greater independence for participating countries, it can also lead to increased volatility and instability in global markets.

[Supreemo]

Plus the narrative is, it will be the Chinese Yuan that's going to replace the U.S. Dollar, and that it's going to happen "soon". But what the people who push the narrative never researched is that China is one of the largest HODLers of the U.S. Dollar. It would be laughable if they'll cause its destruction, and burn the value of their own assets.

And it's not just that, the whole economy stands upon exports to the western world, the yuan is not getting dumped like other currencies just because there are USD entering the economy, if that is gone the yuan will follow the rest of the shitcoins, they need the US to be as powerful economic as it can in order to sell them stuff, otherwise is bankruptcy for them
Plus as you said, China is losing its workforce, and this thing was captured perfectly in this quote

“China has become older before it has become rich,”

The labor force is going down, 800 million in 2016, 780 million in 2021, and from here on it will be a pitfall, with what do you want to project power when your main source of power is going down?

Fans of populism, of course, "clap their hands", rejoicing. True, they do not understand that in fact, the situation is diametrically opposite ...

As I said, when it comes to politics yeah, ditch the dollar, when it comes to your own wallet, good dollar, more dollars!

It is laughable how every single politician from those countries that want to end the US dominance is having bank accounts in the western world, in either $ or Euro, is sending his kids to western countries for education, and is buying properties there, despite every single daying tweeting about the collapse of the western world.

it's usually what I see in the mainstream media almost everyday, not knowing that their last option or their ace up on their sleeves is the western countries. i know you didn't mean to generalize everyone who is against western countries coz I am an eastern too, but seeing how some of my fellow people here acting that way is somehow embarrassing. imagine them telling the western country "it's about to collapse, dollar keeps decreasing, high inflation rate" while at the same time they'd be saying "there are lots of opportunities there, good education system and world class standard, cheap items you can buy in bulk", isn't that kind of ironic?

[pooya87]

Unfortunately the U.S. became too heavy handed with sanctions and countries are realizing it isn't worth it to have an unstable country that pegged directly to U.S. foreign policy.

The list of things that led to demise of United States is long, one of the main ones is abuse of power/sanctions. Another is the unstoppable money printing machines that are on a printing spree increasing the US national debt by the second.

The world has realized that they either have to endure US inflation in their own country or dump dollar so they are slowly but surely choosing the second option.
This is not the first time they do this either. They did it back when they first realized US economy is only alive because they print money that is no longer backed by anything, this was in the 70's and they ditched dollar and it got dumped hard and US economy turned into ashes in about 6 months.

Of course in the 70's US national debt was only in billions of dollars, to be more specific in 1970 it was only $371 billion dollar and today it is $31,653 billion ($31.6 trillion) which is a 8431% rise! US is also not the hegemony it was back in 70's without competition. US military is not nearly as strong as it was back in 70's. US also doesn't have the energy rich colonies it had back in the 70's.
The dump of dollar this time is going to be a lot more catastrophic and there will be no coming back.

Unless the US regime can think of any other scam like last time (Petrodollar) or start a World War, I don't see the trend of dedollarisation slowing down.

[SyndicateLabs]

There are many reasons leading to the decline of the dollar. One of the most important reasons is the monetary policy of the US Government. The US government has issued too many dollars to serve their spending, causing inflation and a decrease in the value of the dollar. In recent times, the dollar has experienced a significant decline in its value against other currencies in the world. This decline has caused much controversy and concern in the global financial community. And seeing the changes emerging from China, I think it is understandable for the dollar to lose its influence.

[Wind_FURY]

China's strategy for long term development is that they offer economic concessions to certain countries and make the country dependent on them. When that dependence forms, the country is at the whim of China -- should they ever be at odds, China cuts off the economic ties and isolates the dependent country. They tried this strategy in some African countries in the 90's and early 2000's.

Ditching the dollar for the adoption of Yuan makes USD weaker and merely puts a bandage onto a bigger problem which is centralized currency.

Basically the whole world (even US allies) have always wanted to dump the dollar after Nixon administration, but for a lot of reasons (including lack of independence) they have been slow. This is also why we are currently only seeing countries with more independence from US dumping the dollar while others slowly joining in at a smaller scale.
Although Saudi regime as the 51st US state is an exception, they have no independence but are joining in because they were forced to; essentially after Aramco was hit and their oil production was cut by half.

Unfortunately the U.S. became too heavy handed with sanctions and countries are realizing it isn't worth it to have an unstable country that pegged directly to U.S. foreign policy.

Another unfortunate fact is that the United States know they can do it because the Yuan will never be a long term solution/replacement for the Dollar. Why? Because of the One Child Policy, China's population is aging. By the year 2050, 39% of their population will be made of retirees/people who are over 65 years old according to some projections by researchers, and it will grow.

That will definitely have a negative impact in their society, economy, policy AND their CURRENCY.

[Kakmakr]

The political undertone with the ditching of the Dollar are very clear and one of the reasons why the BRICS countries are strengthening relations to rely less on the US Dollar and more on trading in other currencies.

China seems to be the leader of the pack and the driving force behind this, because they know that a weaker Dollar will give them a economical advantage and also a stronger military power, if they can strengthen their economy. 

[davis196]

Fans of populism, of course, "clap their hands", rejoicing. True, they do not understand that in fact, the situation is diametrically opposite ...

At the same time, the Chinese economy depends on the dollar. Therefore, China "supported" this idea, but with a small caveat - China did not abandon the dollar, and "put" its "subordinate" allies on the yuan

I wouldn't say that the Chinese economy depends on the dollar. China simply doesn't want to provoke a global financial crisis, by dumping the US dollar completely. They will dump the dollar, when the right time comes and when they are ready. The process of dedollarization has to be less painful for most of the countries in the world. Many Latin American, African and Asian countries don't want to deal with USA and the US financial system, because of the US system of sanctions. The USA is simply saying "if you want to make business with us and use US dollars, you have to follow OUR rules". This is something, which many people in the world dislike. The arrogance of the US empire is getting out of control.

[bangjoe]

Recently, some countries began to use their local currencies in trade with each other. It is true that there was no trade union between these countries, but these movements began to increase.

Is it the beginning of some kind of cold war led by China? The primary purpose of these bilateral trades isn't only to cut costs in my opinion, and China probably is doing its best to lessen the dominance of the US dollar over the world economy by initiating these trades with different nations, they know that other countries will follow suit knowing they can do it to reduce costs and to become a bit more independent when it comes to using a currency for international trade.

I wonder how will things be if USD isn't the leading currency of the world and isn't used for the pricing of almost everything that you see or buy locally or internationally either through the internet or in real life.

I think this is some exposure from the movement of resistance carried out by the bamboo curtain country, whose goal is to suppress US dominance in the global economic market, China deliberately invites them one by one to join the system created by China, and I have to admit given that china has that power to put pressure on the US in international markets, that strategy of bilateral relations has been quite effective so far and may be even more widespread if it goes on actively without any interruption due to the obvious advantages to each other in using each other's currencies.

I think if the USD is no longer in use, surely it will do the same thing as other countries, namely looking for a currency that applies in the international market to meet its export and import needs, and those that usually carry economic flows are forced to follow the flows brought by countries. other.
 
If the expansion of the system traded in China continues to develop, of course people will release dollars as foreign exchange and return them to their owners, and that day when all countries release them, maybe the dollars will accumulate in their own cage and certainly hyper inflation will not be avoided.

The US must not have time to calm down if it does not want its opponent to take its throne.

[Mauser]

Recently, some countries began to use their local currencies in trade with each other. It is true that there was no trade union between these countries, but these movements began to increase. This topic will shed light on some of these countries:

That's good of countries to become more willing to deal with their own currencies directly between each other, instead of using the US Dollar. To a certain extent this is going to reduce the number of financial transactions needed and also increases demand for these currencies. In international trade it's usually one country that sells goods, material or commodities and in the past was paid with US Dollar, the country then could use the money to buy anything they want from all other countries that accept USD. Now with more bilateral trade, the country that receive the foreign currency would need to exchange it or have a smaller range of countries to buy things with the money. This could be a  great way for smaller countries to try and generate more trade. Especially when it's harder to move large quantities of foreign money around. This could also be an effort to engage more into goods vs goods trading instead of settling for money.

[beerlover]

I think this is some exposure from the movement of resistance carried out by the bamboo curtain country, whose goal is to suppress US dominance in the global economic market, China deliberately invites them one by one to join the system created by China, and I have to admit given that china has that power to put pressure on the US in international markets, that strategy of bilateral relations has been quite effective so far and may be even more widespread if it goes on actively without any interruption due to the obvious advantages to each other in using each other's currencies.

I think if the USD is no longer in use, surely it will do the same thing as other countries, namely looking for a currency that applies in the international market to meet its export and import needs, and those that usually carry economic flows are forced to follow the flows brought by countries. other.
 
If the expansion of the system traded in China continues to develop, of course people will release dollars as foreign exchange and return them to their owners, and that day when all countries release them, maybe the dollars will accumulate in their own cage and certainly hyper inflation will not be avoided.

The US must not have time to calm down if it does not want its opponent to take its throne.

I am pretty sure Dollar will stay, this is the biggest economy in the world we are talking about and that is not the only thing that matters, it is also the biggest income maker in the world as well. They may have a lot of debt, and they may do war crimes and invade other places and all that, you may hate them personally as much as you can, I do not really like them neither, but when it comes to economy?

Nobody else can be as self sufficient as they are and they are going to be rich forever. Dollar is not going anywhere because of this exact reason, I highly doubt that it can go away anytime soon. I hope we get a bit more equal currencies of course, but it is not going to happen.

[South Park]

I am pretty sure Dollar will stay, this is the biggest economy in the world we are talking about and that is not the only thing that matters, it is also the biggest income maker in the world as well. They may have a lot of debt, and they may do war crimes and invade other places and all that, you may hate them personally as much as you can, I do not really like them neither, but when it comes to economy?

Nobody else can be as self sufficient as they are and they are going to be rich forever. Dollar is not going anywhere because of this exact reason, I highly doubt that it can go away anytime soon. I hope we get a bit more equal currencies of course, but it is not going to happen.

Changes when it comes to such fundamentals of the economy are never fast, but they do happen, the US dollar has enjoyed a period of dominance but it is not as if this was unheard of, but just as there were currencies before the dollar which were used for international trade, those currencies also lost that power, and as such I do not see why the US dollar is going to be an exception to this rule, especially when more countries are openly opposing it.

[serveria.com]

I think many have seen the graph below:



As you can see, every global reserve currency has it's lifespan and USDs lifespan is about to come to an end. Which currency will take it's place? Yuan? Bitcoin? Personally, I think it's going to be Bitcoin, the time of national currencies is over. Make sure you're ready when the time comes. BTC

[cabron]

I think many have seen the graph below:



As you can see, every global reserve currency has it's lifespan and USDs lifespan is about to come to an end. Which currency will take it's place? Yuan? Bitcoin? Personally, I think it's going to be Bitcoin, the time of national currencies is over. Make sure you're ready when the time comes. BTC

BTC might just be the best option than just going to a country's currency because it always happens every time that a country will be using the currency to oppress another country. Even Francs were enforced in an African land so far away from France that they themselves are not even using it.

If they are going to discuss how a currency becomes a global currency, it will disgust your stomach. But its always been that way even in ancient times when India is the richest.

[darkangel11]

These countries you guys are talking about always stood in opposition to the US and see an opportunity now. The dollar is being artificially pumped up by the FED, Russia is pushed against the wall by sanctions, don't tell me this isn't a golden opportunity to do some mischief. It doesn't mean USD will die though. The EU is following US footsteps in monetary policy and I don't think that China+Russia+ Iran can actually stand up to the US+EU+Israel+ Japan+South Korea. They'll do whatever damage they can though.

Oh, but wait, I have one question for everyone here:
If the $ is dying, why don't you ask your campaign manager to be paid a fixed sum in INR or RUB or Rials and you are all fine with $?   
Might it be that behind the propaganda, when it hits your wallet the reality is different?

Some of us are getting paid in a fixed sum (BTC), you know.
Just saw an opportunity here, don't hate. The rest of what you said is pretty much spot on.

[aoluain]

Unfortunately the U.S. became too heavy handed with sanctions and countries are realizing it isn't worth it to have an unstable country that pegged directly to U.S. foreign policy.

The list of things that led to demise of United States is long, one of the main ones is abuse of power/sanctions. Another is the unstoppable money printing machines that are on a printing spree increasing the US national debt by the second.

The world has realized that they either have to endure US inflation in their own country or dump dollar so they are slowly but surely choosing the second option.
This is not the first time they do this either. They did it back when they first realized US economy is only alive because they print money that is no longer backed by anything, this was in the 70's and they ditched dollar and it got dumped hard and US economy turned into ashes in about 6 months.

Of course in the 70's US national debt was only in billions of dollars, to be more specific in 1970 it was only $371 billion dollar and today it is $31,653 billion ($31.6 trillion) which is a 8431% rise! US is also not the hegemony it was back in 70's without competition. US military is not nearly as strong as it was back in 70's. US also doesn't have the energy rich colonies it had back in the 70's.
The dump of dollar this time is going to be a lot more catastrophic and there will be no coming back.

Unless the US regime can think of any other scam like last time (Petrodollar) or start a World War, I don't see the trend of dedollarisation slowing down.

Regards sanctions, thats actually using the $ as a weapon,  I think countries are realising
that holding dollars is a liability, same goes for the excessive printing, again its
a liability holding the $, its losing value quickly.

So its one thing countries starting to ditch the dollar but imagine when all the trillions
of them which are going to make their way back to the US eventually....

I think many have seen the graph below:

As you can see, every global reserve currency has it's lifespan and USDs lifespan is about to come to an end. Which currency will take it's place? Yuan? Bitcoin? Personally, I think it's going to be Bitcoin, the time of national currencies is over. Make sure you're ready when the time comes. BTC

Yes possibly the Yuan as a global reserve currency and Bitcoin as a global reserve asset?

[concept2]

Recently, some countries began to use their local currencies in trade with each other. It is true that there was no trade union between these countries, but these movements began to increase. This topic will shed light on some of these countries:

China, Brazil strike deal to ditch dollar for trade

BRASILIA - China and Brazil have reached a deal to trade in their own currencies, ditching the United States dollar as an intermediary, the Brazilian government said on Wednesday.

The deal, Beijing’s latest salvo against the almighty greenback, will enable China, the top rival to US economic hegemony, and Brazil, the biggest economy in Latin America, to conduct their massive trade and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the US dollar.

“The expectation is that this will reduce costs... promote even greater bilateral trade and facilitate investment,” the Brazilian Trade and Investment Promotion Agency (ApexBrasil) said in a statement.

China is Brazil’s biggest trading partner, with a record US$150.5 billion (S$200 billion) in bilateral trade last year.

The deal, which follows a preliminary agreement in January, was announced after a high-level China-Brazil business forum in Beijing.

Pakistan, China agree to trade in yuan

Pakistan on Monday announced an agreement with China to use Chinese currency for bilateral trade to end the burden of relying on U.S. dollars.

'China and Pakistan agreed to start trading in the yuan instead of the dollar,' Fawad Chaudhry, minister of information, told reporters in Islamabad.

This agreement, reached during the Pakistani premier’s current visit to China, would help Pakistan get rid of the dollar burden in $15 billion of bilateral trade, he added.

Imran Khan’s four-day official visit to China is ending Monday.

The move to Chinese currency would also help both countries replace the U.S. dollar for their transactions and investment in the multi-billion dollar China-Pakistan Economic Corridor (CPEC).

This June, the State Bank of Pakistan formally allowed both public and private enterprises to use Chinese currency for bilateral trade and investment activities.

China and Russia ditch dollar in move toward 'financial alliance

Russia and China are partnering to reduce their dependence on the dollar -- a development some experts say could lead to a "financial alliance" between them.

In the first quarter of 2020, the dollar's share of trade between Russia and China fell below 50% for the first time on record, according to recent data from Russia's Central Bank and Federal Customs Service.

The greenback was used for only 46% of settlements between the two countries. At the same time, the euro made up an all-time high of 30%, while their national currencies accounted for 24%, also a new high.

Russia and China have drastically cut their use of the dollar in bilateral trade over the past several years. As late as 2015, approximately 90% of bilateral transactions were conducted in dollars. Following the outbreak of the U.S.-China trade war and a concerted push by both Moscow and Beijing to move away from the dollar, however, the figure had dropped to 51% by 2019.

Alexey Maslov, director of the Institute of Far Eastern Studies at the Russian Academy of Sciences, told the Nikkei Asian Review that the Russia-China "dedollarization" was approaching a "breakthrough moment" that could elevate their relationship to a de facto alliance.

Yo, some countries be ditching the US dollar and using their own cash to trade with each other. They tryna save some cheddar and boost their trade game. Plus, they can dodge any drama with the US economy and exchange rates. But, who knows how this will pan out in the long run and how it will shake up the world's economy.

[josephsonand]

Looks like these countries are tired of sharing their lunch money with the US dollar. Can't blame them for wanting to keep more of their hard-earned cash.