Refusal from USD - where are the topics ?

[siniminomorocomunisakito]

I think this is a hotly debated topic, with some suggesting that it is time for a new global currency to emerge, while others think that the USD is here to stay and it seems that the USD is still a big player in global trade and finance. Any significant shift away from it will require major shifts in the economic and political landscape. So, while we may see the occasional media frenzy on this topic, it is unlikely that we will see a complete rejection of the USD anytime soon.

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[Gyfts]

What do you call an alternative? YUAN? Are you seriously ? Do you really not understand why China is doing this? More precisely, why does he manipulate not very smart "friends"? For the fight against the dollar? On which does China's economy and industry depend? Are you seriously ?? 
I’ll tell you: for another half a year, or maybe more, when the screeching “BRICS is abandoning the dollar and switching to local currencies” and “More countries are joining the BRICS” just started to rise actively, I then wrote - there will be no local currencies. There will be YUAN!!! And there will be no dollar in the gold reserves of other countries! This is China's goal. The export of inflation will concentrate the movement of the dollar on itself as much as possible. And this is done precisely through the "unification of the countries" of the BRICS. All will trade within the BRICS only for RMB. No one will be able to sell their products to the Western world for hard currency. And China, having bought it for its yuan, will sell it to the West for DOLLARS, which it will keep for itself, in order to buy technology, equipment and everything that allows China to be the "second economy in the world" in the West.

I hope now you will begin to understand what this whole "China game with idiot friends" is all about?

China tried this strategy in Africa, trying to garner international relationships and force countries to form dependence on them giving them leverage. Many Chinese companies were doing business in Africa in the 90's and early 2000's but the partnerships never really came to fruition. Yuan is even worse than USD so any country emptying their reserves for Yuan will eventually find the same problems they had with USD.

[DrBeer]

The fact that the forum interacts with the outside world and reacts to what is happening - I agree, this is how it should be, you can't live in an information vacuum
I'm talking about a friend - these "news" that I was talking about appeared SUDDENLY! Although the process launched by China - to fool trusting countries and transfer them to the yuan - was launched a long time ago. And here, as per the click of the tumdler (look at the forum and check for yourself) - more than a dozen articles appear, with different titles but one and the same idea. And what is no less surprising - they stop being actively supported by authors - exactly the same, all together and at the same time

Are you saying that these topic comes from a single person, created by different accounts?  And now that the person had found another topic to discuss, the existing thread is abandoned?  It is not surprising especially when the thread had served its purpose or the author thinks that there is no need to continue with the discussion since he got what he wanted, the idea and thoughts of the forum.

Anyway, if you are insinuating about the possible conspiracy theory, these tactics had been done ever since.  Creating propaganda, releasing the idea to the masses to make naive people believe or inculcate an ideology to the minds of readers.  

Anyway, I do not think that the dollar supremacy will tumble overnight.  It will be a series of events and may take decades to a century to be replaced.  There should be a major shift of trust in major developing countries and there will be lots of conferences and conventions before arriving at a currency that can replace USD.  

Apparently you misunderstood me
No one person, no paid bands, no global conspiracy!
It's just that in the information field, sometimes, in order to achieve some goals, they begin to purposefully make "information throws", in order to form "public opinion", distract attention, i.e. information manipulation. So here. Apparently, people began to understand that replacing the dollar with the yuan is even more problems, and real problems for the economies. And there was a mass of media content, all formats, that the dollar is evil, it must be abandoned, BRICS is salvation, and nothing that is only in the Yuan, the yuan is generally good, and go ahead - don't be afraid
Review the history in the media for March-April. You will see what a surge there was, and how unexpectedly it dried up

The problem is that people want to "blur their eyes" so that they do not see the real picture of the BRICS, the "abandonment of the dollar", and do not raise indignation in their countries, and do not stop the Chinese project of saving their economy at the expense of the "fool donor" countries "

[DrBeer]

....
China tried this strategy in Africa, trying to garner international relationships and force countries to form dependence on them giving them leverage. Many Chinese companies were doing business in Africa in the 90's and early 2000's but the partnerships never really came to fruition. Yuan is even worse than USD so any country emptying their reserves for Yuan will eventually find the same problems they had with USD.

There is a fairly noticeable difference between the dollar and the yuan.
Yuan is a candy wrapper of China. Behind which there is only a huge population, Western technologies bought for dollars, and an export-dependent economy. And post zero liquidity of the Yuan.
The dollar is devoid of these shortcomings. He has one drawback - he is ENVYED, and realizing that it will not be possible to achieve the same level, or rather, a position in the world economy, they follow the path - "we cannot and do not know how to do as well as the United States, then at least we will try to cover up with shit the one who better than us."
Well, plus the classic desire of the world's rogue countries, at least somehow "to take revenge on the United States", for the fact that they are rogues and their prospects are sad

[hugeblack]

No one says that he will give up the dollar and even the countries that have started dealing with their local or yuan currencies, as they still keep a large percentage of the treasury reserves in the form of a dollar, even China has US reservoir bonds worth more than one trillion dollars.

All that is in the matter is that the countries keep the dollar and gold only, but will try to diversify their commercial deals away from the dollar and thus less exposure to the debts of the United States and then you do not need to be linked to the federal and increase interest rates as the federal increases interest rates.

[1] Why China Buys U.S. Debt With Treasury Bonds

[mindrust]

The dollar is sick and dying. The funny thing is, the FED is not helping. They only worsen the situation with every move they make. China, Russia, Iran, Argentina, Brazil, India, Saudi Arabia... These countries are fed up with the American bullshit and they want to move forward without them. USA is always threatening them and actually banned some of them from the SWIFT system. Now these countries are forming an alliance, effectively they are sanctioning the US from the rest of the world. USA should have played it nicer but now that was too much to ask. Instead they made everybody angry.

[be.open]

The dollar is sick and dying. The funny thing is, the FED is not helping. They only worsen the situation with every move they make. China, Russia, Iran, Argentina, Brazil, India, Saudi Arabia... These countries are fed up with the American bullshit and they want to move forward without them. USA is always threatening them and actually banned some of them from the SWIFT system. Now these countries are forming an alliance, effectively they are sanctioning the US from the rest of the world. USA should have played it nicer but now that was too much to ask. Instead they made everybody angry.

Yep, the dollar is fucked up and everyone understands that. The Fed is trying to curb inflation, and a higher discount rate is making debt servicing extremely painful. Look at the execution of the US federal budget this fiscal year - 4.5 trillion in tax receipts, 6.5 trillion in spending and more than $900 billion in interest on debt service alone, not including the body of the debt itself. You don't need to graduate from the Higher School of Economics to understand that this is fucked up.

No one says that he will give up the dollar and even the countries that have started dealing with their local or yuan currencies, as they still keep a large percentage of the treasury reserves in the form of a dollar, even China has US reservoir bonds worth more than one trillion dollars.

China has been actively getting rid of investments in US Treasury bonds for several years, but even China does not benefit from the avalanche collapse of the global financial system, because despite the strategic confrontation and the active phase of the trade war, the US is an important trading partner of China. The world has lived too long in the era of globalization for the collapse of the world reserve system to benefit anyone at all, except for the most radical groups. Therefore, all interested parties are trying to soften the inevitable blow.

It seems that the United States itself will benefit the most from abandoning the dollar, because this is a great opportunity to write off their out of control debts.

[Hispo]

The dollar is sick and dying. The funny thing is, the FED is not helping. They only worsen the situation with every move they make. China, Russia, Iran, Argentina, Brazil, India, Saudi Arabia... These countries are fed up with the American bullshit and they want to move forward without them. USA is always threatening them and actually banned some of them from the SWIFT system. Now these countries are forming an alliance, effectively they are sanctioning the US from the rest of the world. USA should have played it nicer but now that was too much to ask. Instead they made everybody angry.

It may just be me, but those articles and the posts of many people around here both from the United States and outside that country imply that the FED and the Treasury of the United States are under the control of incapable idiots. While I agree that many politicians can be populists and very irrational individuals, I do not think there are dumb people behind the economy of such country.

Even though the USA dollar may lose some of its power around the world or in specific countries, there is still a lot to do if BRICS and others really want to get rid of the dominion of Washington. Nobody should under-estimate a super power so easily.

That is just my opinion.

[DrBeer]

No one says that he will give up the dollar and even the countries that have started dealing with their local or yuan currencies, as they still keep a large percentage of the treasury reserves in the form of a dollar, even China has US reservoir bonds worth more than one trillion dollars.
All that is in the matter is that the countries keep the dollar and gold only, but will try to diversify their commercial deals away from the dollar and thus less exposure to the debts of the United States and then you do not need to be linked to the federal and increase interest rates as the federal increases interest rates.

Diversification, in today's world, is an absolutely reasonable decision, because. for example, the Covid19 pandemic has shown that neither economy can withstand such threats.
What is happening is diversification, but many are trying to pass it off as "abandoning the dollar", which causes a smile


Instead of a thousand words, just a little information about China's gold and foreign exchange reserves.

The exact composition of China's foreign exchange reserves is classified information and is under the full control of the government.
The first case of disclosure of the structure of China's gold reserves was in 2010: In September 2010, Beijing for the first time provided detailed information on the size of its gold and foreign exchange reserves. In particular, it was reported that the indicator was 2.45 trillion dollars, of which 65% of all gold and foreign exchange reserves are denominated in US dollars, 26% - in euros, another 5% - in pounds sterling and another 3% - in Japanese yens.

From 2005 to the end of 2022, the country's gold reserves increased from 600 to 1852 tons. the increase in gold reserves was mainly due to the purchase of gold.

2023 BEIJING, Apr. 8 (Xinhua) -- China's foreign exchange reserves declined in March as asset prices moved amid a stronger US dollar. This is evidenced by official data released on Thursday by the State Administration of Foreign Exchange Control of the People's Republic of China.
As of the end of March 2022, China's foreign exchange reserves stood at $3.188 trillion, down $25.8 billion or 0.8 percent, according to the agency. less than at the end of February.

China's main foreign exchange reserves in 2023 are held mainly in - dollar, euro, Japanese yen and British pounds.
The Chinese government does not disclose exact data.

[Don Pedro Dinero]

What do you call an alternative? YUAN? Are you seriously ? Do you really not understand why China is doing this? More precisely, why does he manipulate not very smart "friends"? For the fight against the dollar? On which does China's economy and industry depend? Are you seriously ?? 
I’ll tell you: for another half a year, or maybe more, when the screeching “BRICS is abandoning the dollar and switching to local currencies” and “More countries are joining the BRICS” just started to rise actively, I then wrote - there will be no local currencies. There will be YUAN!!! And there will be no dollar in the gold reserves of other countries! This is China's goal.

Well, that's what you think, I don't think that payments will be replaced by a single currency, which will be the Yuan, as you think, I think that many payments that are now made in dollars will be made in other currencies, and if you look at the paragraph of mine that you quoted, I speak in the plural. I believe that some payments will also be made in Euros, for example, and moving from a unipolar world in this sense to a multipolar one does not necessarily seem to me to be a bad thing, as you suppose.

[tygeade]

Well, that's what you think, I don't think that payments will be replaced by a single currency, which will be the Yuan, as you think, I think that many payments that are now made in dollars will be made in other currencies, and if you look at the paragraph of mine that you quoted, I speak in the plural. I believe that some payments will also be made in Euros, for example, and moving from a unipolar world in this sense to a multipolar one does not necessarily seem to me to be a bad thing, as you suppose.

I still feel like there is this "multi-currency" situation that will become the norm in the future. I mean some will take dollars, some will take ruble, some will take yuan, and some will take bitcoin as well. It's not going to be just one currency to rule over everyone else, world will not let that go on for a long time, that just doesn't make sense.

I know that dollar has ruled over for a while now but that was for a period, after a while other nations realized that it is not going to be easy to handle all of this so they are going to go with a different route. This is why I believe that we should be expecting other nations to have different type of deals, and should be considering multiple currencies to get to the top and used.

[DrBeer]

....
China tried this strategy in Africa, trying to garner international relationships and force countries to form dependence on them giving them leverage. Many Chinese companies were doing business in Africa in the 90's and early 2000's but the partnerships never really came to fruition. Yuan is even worse than USD so any country emptying their reserves for Yuan will eventually find the same problems they had with USD.

There is a fairly noticeable difference between the dollar and the yuan.
Yuan is a candy wrapper of China. Behind which there is only a huge population, Western technologies bought for dollars, and an export-dependent economy. And post zero liquidity of the Yuan.
The dollar is devoid of these shortcomings. He has one drawback - he is ENVYED, and realizing that it will not be possible to achieve the same level, or rather, a position in the world economy, they follow the path - "we cannot and do not know how to do as well as the United States, then at least we will try to cover up with shit the one who better than us."
Well, plus the classic desire of the world's rogue countries, at least somehow "to take revenge on the United States", for the fact that they are rogues and their prospects are sad