People keep talking how weak dollar and how bad usa economy getting

[franky1]

things like BRIC's want to have a different measuring stick
here is the thing

if a shop sells a loaf of bread for $200.. and people dont like it.. they create their own shop to sell more bread for [insert anything reasonable] to alot more populous

and thats what BRIC's is doing. setting up a new shop(market) with new prices

It is better to have two shops selling bread than to have just one monopolizing the market. We need global competition among leading nations so that developing nations will have alternatives to choose from.

actually there should not be a central market of one or 2 determining prices for the whole world.

for instance US oil markets ensure oil prices meet US costs. which are higher than say 3rd world countries
by the time oil reaches america its like $90 a barrel so US sets international trade at $90 a barrel. however in the origin countries that pump the oil its only like $10. yet that country pumping it has to pay $90 due to US cost adjustment

we seen it recently with electric.
i live in the UK and electric is generated locally within 100 miles of my location yet electric prices rose. not due to any domestic cost of production. but due to the international market rate. yep even if locally produced locally distributed energy is cheap to make. the price the end user locally has to pay is based on international market price which is managed by the US

its time even the UK detaches from the international market for things like energy and other resources and instead creates more of a independent decentralised trade strategy.

BRIC's is the starting point. but i dont think it will end in just 2 party economy. eventually it will multiply out again into smaller factions

[1715081420]

1715081420

[1715081420]

1715081420

[Etranger]

actually there should not be a central market of one or 2 determining prices for the whole world.

for instance US oil markets ensure oil prices meet US costs. which are higher than say 3rd world countries
by the time oil reaches america its like $90 a barrel so US sets international trade at $90 a barrel. however in the origin countries that pump the oil its only like $10. yet that country pumping it has to pay $90 due to US cost adjustment

we seen it recently with electric.
i live in the UK and electric is generated locally within 100 miles of my location yet electric prices rose. not due to any domestic cost of production. but due to the international market rate. yep even if locally produced locally distributed energy is cheap to make. the price the end user locally has to pay is based on international market price which is managed by the US

its time even the UK detaches from the international market for things like energy and other resources and instead creates more of a independent decentralised trade strategy.

BRIC's is the starting point. but i dont think it will end in just 2 party economy. eventually it will multiply out again into smaller factions

I agree, this happens precisely because there are one or two dominant economies in the world. The USA has long been a leader in these matters. But the possibilities of the modern world show that this primacy may be lost in favor of China, Japan and India, whose economies are developing at an insane speed, which the world has not seen before. Also contributing to the loss of leadership are the post-covid times, which have shown that the world is not as globalised as it seemed, and that diversity and introversion persist.

[SamReomo]

Money today and maybe for the next 25 years will not be backed by gold. Who knows what BRICS are planning but sure they couldn't just jump into a fiat-backed gold currency. One thing is for sure though and it's currently happening that countries today are bilaterally trading with their own currency and not USD.

If they are using their own currency to buy oil and commodities from each other, how can the US control that?   And if they could control that, why are they so worried?

The BRICS countries can jump into a fiat-backed gold currency and that currency will be one of the most powerful one in existence other than the US dollar. This kind of approach would change the international monetary system because in current times the US dollar is still there as the reserve currency of the world. They already know that US dollar isn't backed by gold now and they are taking the advantage of that fact. The dollar is working based on other principles of the economics that only US knows and US is printing so many dollars which can greatly impact its price. I can't underestimate the fact that US dollar is the best medium for exchanging of goods and it will remain in dominance for many years even if BRCIS become functional. A gold backed currency like BRICS can really attack the dominance of US dollar and it may create political problems for the countries that are allies of the US because the US government and IMF will never want something like BRICS to exist and any of their allies if show interest in BRICS could make their relations weak with US.

The bilateral trades are really another important factor to keep in mind and you're right that most of the countries are going with the route of Bilateral trading. Countries like India and United Arab Emirates are also interested in bilateral trading of goods and they want to skip dollar and use Rupee instead for trading of goods. But their trade will be limited to non-oil based commodities as of now and maybe in future they could also add oil based commodities as well in their trading list. I'm quite sure that if that thing happens then the gates will continue to open for BRICS because many countries want to use alternative currency for their trading purposes. The US dollar's dominance will continue to degrade over time, but I'm quite sure that US government may have their own strategy to suppress the dominance of a currency like BRICS.

[legendbtc]

I think it's talked in other places that America's economy is bad, but in our country it's still known how strong the USA is. Nothing will happen easily to the American economy. There was a unipolar world in recent years, but other developed countries are trying to change this. We may revert to a multipolar order in the medium term, but this doesn't mean that America is weak. If a new currency emerges, we may see a hard power clash. This requires being prepared for new wars though, which is bad for whole world but that's the reality and we have to be prepared for that.

The US economy is still the largest in the world but with the growth and competition of the BRICS, we cannot deny that they are putting pressure on America's great power status. BRICS will take a lot of time as well as overcome great challenges to be able to compete with the US and its allies. They may even fail, but history has shown us. Before the US, there were powerful countries, but in the end, no one could stand on high forever. Simply because we live in an era where America dominates the world and we see their power, we think no one can beat them. But those who lived during the British domination of the world thought the same thing as you. No one can stay on top of glory forever, that's the truth.

[pooya87]

I admit I'm not a fan of the US, but I'm not a fan of China or Russia either. But I prefer a multipolar and fairer world, in which all countries can develop and compete fairly, rather than being controlled and oppressed by a single power.

Nobody likes any of them. They have a bad history specially US and Russia with all their wars, invasions and genocides. Interestingly enough most of the world also feels the same way about the New World Order (multipolar world). In fact a couple of months ago I was reading what one of those thinktanks in Washington had published about their fears of dedollarisation and in there they argued that rules of majority of the countries in the world see the New World Order as an opportunity to become stronger. And today we are seeing that happening specially in Africa as more nations fight for liberation.

[komisariatku]

Nobody likes any of them. They have a bad history specially US and Russia with all their wars, invasions and genocides...

Yes, I think many would agree with you. But the reality is that both countries are strong, especially from a military point of view. The two countries also have their own coalitions. It seems that capitalism (America) and communism (Russia) are still fighting for hegemony. Even though there is a new force that might be an alternative to Russia and America, namely China, in my opinion China still carries the same ideology as Russia (communism0. Maybe we always hope that the new world does not have super power countries and all countries have the same status or even do not have state authority like the concept of anarcho ideology, but in my opinion that is a utopian concept. No matter what the world order looks like, there must be someone who will become the superpower with the strongest hegemony among others.

[pooya87]

Nobody likes any of them. They have a bad history specially US and Russia with all their wars, invasions and genocides...

Yes, I think many would agree with you. But the reality is that both countries are strong, especially from a military point of view. The two countries also have their own coalitions. It seems that capitalism (America) and communism (Russia) are still fighting for hegemony. Even though there is a new force that might be an alternative to Russia and America, namely China, in my opinion China still carries the same ideology as Russia (communism0. Maybe we always hope that the new world does not have super power countries and all countries have the same status or even do not have state authority like the concept of anarcho ideology, but in my opinion that is a utopian concept. No matter what the world order looks like, there must be someone who will become the superpower with the strongest hegemony among others.

That is not possible, there will always be stronger countries and weaker countries. There simply can never be equality, just like in society. I don't think this has ever happened in history either.

But the good news is that unlike the past 32 years the world will no longer have a single super power that abuses that power. In the new World Order there multiple poles of power. It is also not just US versus Russia fighting for a bigger "piece of the cake". As you said there is also China that is growing and has become a super power. But that is not the end, there are more countries that have built a strong status for themselves.

Take India for example. That's basically a continent of its own with a large population and fast growing economy. India is also expected to basically replace China in terms of GDP growth rate in the following decade which is why United States also considers India a threat! lol

Another example would be Iran, a country with a battle hardened economy that despite having experienced high inflation for many years (due to the record number of sanctions) still had a bigger GDP growth (4.7%) compared to US (0.9) and EU (1. in the last quarter of 2022 according to the World Bank which is expected to reach 5.6% by the end of 2023. Add to that the biggest amount of energy (oil+gas+lithium), numerous industries (traditional and high tech), one of the most advanced militaries and literary the biggest military alliance spread across the globe and you got yourself another super power.

With organizations such as BRICS we are going to see more power poles show up. I'd say Brazil is the next candidate.

[komisariatku]

+10 merit (But sorry I don't have it to send to you) 

But the good news is that unlike the past 32 years the world will no longer have a single super power that abuses that power. In the new World Order there multiple poles of power. It is also not just US versus Russia fighting for a bigger "piece of the cake". As you said there is also China that is growing and has become a super power. But that is not the end, there are more countries that have built a strong status for themselves.

Yes it is something good. If there are at least 2 poles then that's good because they will correct each other and become thesis and antithesis, so that no country has absolute power that can manage everything. Hopefully there will be more new poles so that the world order will be more dynamic

Take India for example. That's basically a continent of its own with a large population and fast growing economy. India is also expected to basically replace China in terms of GDP growth rate in the following decade which is why United States also considers India a threat! lol

Yes, India also has good economic growth. The economic growth forecast also states that India will be included in the 5 countries that have good economic strength. But I think they are quite comfortable with America, it looks like America is helping India a lot, does America see them as a threat? I do not know about that

With organizations such as BRICS we are going to see more power poles show up. I'd say Brazil is the next candidate.

I also hope that my country (Indonesia) can be included in the BRICS coalition

[Pingrapole]

The economy of the United States is based on many factors, one of which is the dollar Other assets are not wasted so that we may think that the day of their downfall has come.Finally, there are other mechanisms by which a state can fully exercise its power to control another state, such as the use of dollars or other resources or using weapons.After any strong storm, when the water spreads around, it is impossible to remove the water very quickly, just as it is difficult to weaken the dollar or remove it from the world market through various measures.Many countries are thinking of many new currencies and have started trading but even that can lead to a lot of world economy because any big deal won in dollar is still done in dollar and Therefore, it is very difficult to survive or survive in the market with any currency other than the dollar At present America or England are controlling the world market and the economy is progressing as they want.It is possible to stop everything by controlling a currency The biggest thing is that so far all the trading is controlled by dollar where we work cryptocurrency is also traded by dollar because as far as I know the biggest marketplace.If there is a dollar here, it is only natural that the dollar will rule elsewhere Apart from the dollar, when many countries started trading with other currencies like China with their own equivalent, India started trading with their own currency in Russia, then temporarily the whole world People thought that maybe the days of the dollar were over, but at some point it was seen that it was possible to do something good for a certain country, but more than half of the countries traded when the dollar stood still.So how can we say the days of the dollar are over because we know the whole world is controlled by the US and its followers so when the major states are controlled from there It's the same thing with fighting crocodiles that live in water BRICS or other contemporaneous organizations are currently considering trading in their own countries' currencies, but it remains to be seen how effectively this will take off because of or outside other organizations.America has good relations with other countries and those who have relations will certainly trade with the dollar.But unless all countries unite against the dollar, the only thing possible is to weaken the dollar and push other currencies forward
Undermining the US economy is not an easy task because they didn't get here in a day, they got here with a lot of hard work, and they got some profits from everywhere to back the post-war rage They provide different types of aid to the states Being able to do so they continue to play their roles without hesitation.After covid nineteen, the world's condition is bad, memory loss, lack of food grains, increase in hunger, increase in corruption, crisis in education, etc.As a result, the situation in the whole world is getting worse, some countries in the developed world are taking advantage of this and are using different strategies to achieve their interests and fix their weak points.No matter how much people say the dollar is weakening, I don't think the dollar is weakening at all. It's going down temporarily, but eventually it will return to its previous position and the US economy is not going to collapse so easily.Come back soon, and we want to get back to a beautiful and normal world where we can do all our work freely so that no one can take back our work. And can earn a lot of money and make our future bright and bright.

[jrrsparkles]

If US keeps saying that they are the most powerful country then it is going to help in any way even for the foreseeable future, The economy is actually falling they know it that is why the US is now backing off from being the world's police like we all know why they backed from Afghanistan is simply because they can't afford to spend more billions for them.

And Now the thing called BRICS is taking another level you can see there are a lot of deals going on without US dollars and some of them are even in their own fiat so the US may control the price of the gold market but certainly it's evident that they are losing their dominance so if they didn't act different then it's just a matter of time.

[Smack That Ace]

()
 Maybe we always hope that the new world does not have super power countries and all countries have the same status or even do not have state authority like the concept of anarcho ideology, but in my opinion that is a utopian concept. No matter what the world order looks like, there must be someone who will become the superpower with the strongest hegemony among others.

Although we prefer decentralization in financial matters because we have full control over our assets. But when it comes to issues like power, politics...no government or anarchy, no leader, everyone is equal...That only makes the world destroyed faster because there will be a lot of destructive, evil elements that will harm the world without anyone standing up to stop it. I will not support this idea, I prefer a multipolar world, power is divided equally rather than just focusing on one individual. Because they will abuse power to do what they like without caring what other people think.

[komisariatku]

Although we prefer decentralization in financial matters because we have full control over our assets.

Yes maybe for us it is the best. We have control over what we own. But assets/money is a source of power, I'm sure the government doesn't want something like that. If they can't manage their finances (because of decentralization) then they (the state/government) have no power. In my opinion, the two main strengths of a country are the military and money. They must always control those two things, if they don't have one of them then their strength will be crippled

So to this day, I still believe that bitcoin will never become the main world currency. My hope is that bitcoin will become the world's alternative currency

.... I prefer a multipolar world, power is divided equally rather than just focusing on one individual. Because they will abuse power to do what they like without caring what other people think.

I agree with you. I think it's the best that way. If the BRICS can be strong then it will make the antithesis of the USD. Such conditions might be good because there is no absolute power, but it could also trigger a third world war

[bocyaj]

Although we prefer decentralization in financial matters because we have full control over our assets. But when it comes to issues like power, politics...no government or anarchy, no leader, everyone is equal...That only makes the world destroyed faster because there will be a lot of destructive, evil elements that will harm the world without anyone standing up to stop it. I will not support this idea, I prefer a multipolar world, power is divided equally rather than just focusing on one individual. Because they will abuse power to do what they like without caring what other people think.

The decentralized in cryptocurrency will be the good one,but same decentralization is not the good in FIAT system.Because the control of United States only by the USD in many ways.The transaction with the US only through the USD, so all the countries will hold the dollars for the trade With United States.Now the wealthiest nation had a voice is UNO,so the money plays major role in the power.Without the power US will not interfere in the internal affairs of Syria.If the decentralization occur in Fiat, the entire power system will be collapsed.The USD had his own value till the United States was a super power nation.Most of the Nation not raise the voice against Russia for the war against Ukraine,the behind is Russia is Super power like USA.

[Jatiluhung]

The dominance of the US dollar has been deeply embedded and firmly rooted in the global economy. So removing it and weakening it will be very difficult. I also think that the US State and its currency, namely the Dollar, will still be strong in dominating global transactions even for another century. Unless there is a major event that has a major impact on the current world order. Without major events, matters related to the global economy and which country and which currency dominates will remain the same as they are now. Because we know that even in global crypto trading we are also used to the USD exchange rate paired with every crypto asset.

[Fivestar4everMVP]

The dominance of the US dollar has been deeply embedded and firmly rooted in the global economy. So removing it and weakening it will be very difficult. I also think that the US State and its currency, namely the Dollar, will still be strong in dominating global transactions even for another century. Unless there is a major event that has a major impact on the current world order. Without major events, matters related to the global economy and which country and which currency dominates will remain the same as they are now. Because we know that even in global crypto trading we are also used to the USD exchange rate paired with every crypto asset.

You are very right and I completely agree with you, one thing I am very certain about is that currency shift is not something that happens overnight, u.s. dollar has been the dominating currency over other currencies in the world for a very long time now, and I don't even know where all this brouhaha about it losing value is coming from, every Fiat currencies in the world today I losing purchasing power, so the issue with u.s. dollar losing value is not something that is peculiar to it, but very common in the Fiat currency market.

Anybody thinking that all of a sudden, u.s. dollar will lose it's dominating power over other currencies is just daydreaming, even if this is going to happen, it's not going to happen in this generation or next, this is something that might take a very very long time and I don't even think any of us here now we will alive to witness this happen, but all the same, we just keep watching to see how things play out at the end of the day.

[MusaMohamed]

Nobody likes any of them. They have a bad history specially US and Russia with all their wars, invasions and genocides. Interestingly enough most of the world also feels the same way about the New World Order (multipolar world).

They are big nations and have powerful tools to initiate wars and they all have double standards.

In fact a couple of months ago I was reading what one of those thinktanks in Washington had published about their fears of dedollarisation and in there they argued that rules of majority of the countries in the world see the New World Order as an opportunity to become stronger. And today we are seeing that happening specially in Africa as more nations fight for liberation.

The US. dollar loses its purchasing power in many decades and it does not only begin by the Covid-19.



Before the Russia invasion in Ukraine, years before that, the French President Macron warned that European nations must have another leader and must get rid of their dependence on the USA. It is an early signal of European nations that want to have dedollarisation before the pandemic.

The pandemic, economic crisis, the Ukraine war only trigger this delloarisation process happens more seriously.

Emmanuel Macron warns Europe: NATO is becoming brain-dead

[Smack That Ace]

.... I prefer a multipolar world, power is divided equally rather than just focusing on one individual. Because they will abuse power to do what they like without caring what other people think.

I agree with you. I think it's the best that way. If the BRICS can be strong then it will make the antithesis of the USD. Such conditions might be good because there is no absolute power, but it could also trigger a third world war

World War 3? I also thought about this problem but I don't think it will happen. I mean, if there is a third world war, it will be a war about money, economics and politics, I don't think there will be a nuclear war these days. Although countries still increase weapons production as well as increase nuclear warheads every year  .

But anyway, BRICS is still very new and there are still many challenges to be done to limit the dominance of the USD. Although we also have two extremes right here at this forum, some pro-US and some pro-BRICS. And let's wait and see what happens in the future.

[slapper]

Nobody likes any of them. They have a bad history specially US and Russia with all their wars, invasions and genocides...

Yes, I think many would agree with you. But the reality is that both countries are strong, especially from a military point of view. The two countries also have their own coalitions. It seems that capitalism (America) and communism (Russia) are still fighting for hegemony. Even though there is a new force that might be an alternative to Russia and America, namely China, in my opinion China still carries the same ideology as Russia (communism0. Maybe we always hope that the new world does not have super power countries and all countries have the same status or even do not have state authority like the concept of anarcho ideology, but in my opinion that is a utopian concept. No matter what the world order looks like, there must be someone who will become the superpower with the strongest hegemony among others.

That is not possible, there will always be stronger countries and weaker countries. There simply can never be equality, just like in society. I don't think this has ever happened in history either.

But the good news is that unlike the past 32 years the world will no longer have a single super power that abuses that power. In the new World Order there multiple poles of power. It is also not just US versus Russia fighting for a bigger "piece of the cake". As you said there is also China that is growing and has become a super power. But that is not the end, there are more countries that have built a strong status for themselves.

Take India for example. That's basically a continent of its own with a large population and fast growing economy. India is also expected to basically replace China in terms of GDP growth rate in the following decade which is why United States also considers India a threat! lol

Another example would be Iran, a country with a battle hardened economy that despite having experienced high inflation for many years (due to the record number of sanctions) still had a bigger GDP growth (4.7%) compared to US (0.9) and EU (1. in the last quarter of 2022 according to the World Bank which is expected to reach 5.6% by the end of 2023. Add to that the biggest amount of energy (oil+gas+lithium), numerous industries (traditional and high tech), one of the most advanced militaries and literary the biggest military alliance spread across the globe and you got yourself another super power.

With organizations such as BRICS we are going to see more power poles show up. I'd say Brazil is the next candidate.

Sure, there have always been strong and weak nations. However, let's be clear: It's not just about economic growth rates and military strength. A country's true power lies in its people, their innovation, their spirit, and let's not forget, stable governance. India might have a fast-growing GDP, but let's talk about their governance, healthcare, and education

Concerning Iran; come on, you're attributing superpower status based on one economic quarter? And yet they're under numerous sanctions. Are we not considering the sociopolitical stability and international standing

The BRICS? Terrific idea, really, but a far cry from a united front. Brazil as the next candidate? I'd say we're jumping the gun here. We've got to look at the full picture, not just the puzzle pieces

[komisariatku]

World War 3? I also thought about this problem but I don't think it will happen. I mean, if there is a third world war, it will be a war about money, economics and politics, I don't think there will be a nuclear war these days. Although countries still increase weapons production as well as increase nuclear warheads every year  .

Do you mean cold war? I think this has been a condition of economic and political war for a long time. Even though the battlefield is in Ukraine, Russia and America have long been involved in a cold war. This is the condition where the actual war will occur, when? no one expected that to happen, and hopefully it never will

But anyway, BRICS is still very new and there are still many challenges to be done to limit the dominance of the USD. Although we also have two extremes right here at this forum, some pro-US and some pro-BRICS. And let's wait and see what happens in the future.

Yes, the BRICS coalition is still very young, they need time before they can have a big impact on USD dominance. Yes, that's right and there is no problem with the differences, this is where we discuss

Sure, there have always been strong and weak nations. However, let's be clear: It's not just about economic growth rates and military strength. A country's true power lies in its people, their innovation, their spirit, and let's not forget, stable governance. India might have a fast-growing GDP, but let's talk about their governance, healthcare, and education

In theory maybe yes, but in reality I think not. A strong country is always synonymous with military strength, is a form of threat that always succeeds in suppressing developing and weak countries.

What about the American invasion of Iraq? They raised the issue of weapons of mass destruction, but they were never found until Sadam Hussain died on the gallows. It was America's alibi for controlling Iranian oil refineries. I think that behind all wars there are economic interests, although that has never been used as a reason for war

[stompix]

Another example would be Iran, a country with a battle hardened economy that despite having experienced high inflation for many years (due to the record number of sanctions) still had a bigger GDP growth (4.7%) compared to US (0.9) and EU (1. in the last quarter of 2022 according to the World Bank which is expected to reach 5.6% by the end of 2023. Add to that the biggest amount of energy (oil+gas+lithium), numerous industries (traditional and high tech), one of the most advanced militaries and literary the biggest military alliance spread across the globe and you got yourself another super power..

Muahhahahahahah , Iran the supepower. Of course, propaganda numbers look great in fiction but let's look at what those values mean, even if they are fake.

So, Iran's GDP is $367 billion (same as  Connecticut *24th state), so a 5.6% means a rise of 20 billion.
USA's GDP is  $23.32 trillion so the tiny 0.9% actually means 200 billion, basically with a 1% growth the US is adding more wealth each year as half of Iran's entire GDP! Even if the USA would keep every year on growing only by 0.9%, which is actually 1.8% , let's go with propaganda numbers, and Iran will magically grow by 5% it will take, well, 120 years to reach the GDP of the USA. And oil will be less relevant a decade from now not a century.

China Reaches Peak Gasoline in Milestone for Electric Vehicles
https://www.bloomberg.com/news/newsletters/2023-08-29/china-reaches-peak-gasoline-in-milestone-for-electric-vehicles

Earlier this month, Chinese oil giant Sinopec made a surprise announcement that mostly flew under the radar. It’s now expecting gasoline demand in China to peak this year, two years earlier than its previous outlooks.

As for most advanced military...lol!
By flying 60 years olD F4 they bought from the US!

Concerning Iran; come on, you're attributing superpower status based on one economic quarter?

Of course, it's still growth! It doesn't matter that:
- The growth is because one sheep had three lambs instead of two
- Iran ranks 122th on GDP per capita, that is well below Botswana or Moldova!
/s

The US. dollar loses its purchasing power in many decades and it does not only begin by the Covid-19.

Good, now do a graph of your currency against the dollar! Popcorn!