The reason countries wish to be independent from the US$

[Abiky]

We will see the results in the upcoming months. A lot has already happened and even in the cryptocurrency space is affected. There are a lot of things to do but for countries to move away from the reliance of USD is just them thinking ahead and we all know how the current administration in the US have bold statements that opposes other nationalities and that affects their countries.

I do hope that it's within crypto that the alternative towards currencies happen.

Alternative currencies will happen. But not in the way you think. Countries will use their own system for complete control. Decentralized cryptocurrencies like Bitcoin and Litecoin will be out of the picture. They will be "second-class" currencies, while the whole world goes round with CBDCs. The question is: Which currency will replace the USD as the world's next reserve currency? Will it be the EUR, the CNY, or the YEN? I'd say it's a wild guess.

If BRICS is smart, it would back its own currency with Gold. Or even Bitcoin for that matter. All in an attempt to dethrone the USD. But Trump previously hinted the creation of a national reserve for BTC. That would slow down the de-dollarization process. Without a "weaponized" USD, countries won't have a reason to move away from the currency. Who knows what will happen in the future?

[lixer]

It is not an addiction but a state of entanglement similar to someone who has fallen into a quagmire; if he tries to free himself he will sink deeper and if he refrains from resisting he can maintain his position without saving himself completely or drown completely. A harsh equation imposed by America and the colonial powers by establishing a new slavery system in which the masters and slaves are countries and not individuals.
Africa is the most prominent example because the colonial countries imposed the appointment of a corrupt political class loyal to them to ensure the theft of all resources in exchange for enjoying a little security. Some African countries have their fate controlled by exploration companies and colonial agents.

Africa is surely under serious siege because of its fertility, but big players never want to give them opportunity for having things under their control even many things are already wiped out but still they want to keep their influence so they are helping small groups for having their control instead of giving them right to choose.

When they needed, they bring changes by their own interest never have anything related to common peoples awareness is spreading but not like it needed with conflicts are also increasing few countries are trying to keep things on level but risk factor and bloodbaths are surely happening. Few big names disappeared from scene just because they were looking for new dreams and want to wipe out these colonial powers, but they have done their own stuff and now having their controls with different ways which are increasing their influence.

[WillyAp]

Africa is surely under serious siege because of its fertility, but big players never want to give them opportunity for having things under their control even many things are already wiped out but still they want to keep their influence so they are helping small groups for having their control instead of giving them right to choose.

1st class conspiracy theory. I'm sure many people from Africa will follow you.
But once you gain reasoning well it's a conspiracy theory.

[pooya87]

If it were a little more than half the world that were dedollarising, now with the stuff Trump is doing to other countries from Canada to Europe, I wouldn't be surprised if that percentage increased this year and by the end of 2025 we were talking about something like 80% of the world dedollarising... By then US national debt should also be around $39-$40 trillion!

[DrBeer]

I wonder if any of the apologists of the comedy called “dedollarization” in this thread can give at least one logical/argumented explanation of the purpose of dedollarization, other than an attempt to avoid deserved punishment if you are an anti-human regime or a terrorist country?! Here's at least one more reason !

PS And tell me - who forbids different countries to settle accounts with each other in local currencies ? With examples, arguments and no fantasies !

[Abiky]

If it were a little more than half the world that were dedollarising, now with the stuff Trump is doing to other countries from Canada to Europe, I wouldn't be surprised if that percentage increased this year and by the end of 2025 we were talking about something like 80% of the world dedollarising... By then US national debt should also be around $39-$40 trillion!

Well, Trump's "America First" agenda might end up isolating the US from the rest of the world. Then, the "de-dollarization" process will be certain. But what if the reverse happens? Countries might be afraid of moving away from the USD because of the proposed 100% tariffs. We can't predict what will happen in the future.

At least we know, US hegemony won't last forever. Sooner or later, the "American Empire" will fall, paving the way for another superpower to take over the world. Will it be China, Russia, or the EU? Only time will tell.

[WillyAp]

Well, Trump's "America First" agenda might end up isolating the US from the rest of the world. Then, the "de-dollarization" process will be certain. But what if the reverse happens? Countries might be afraid of moving away from the USD because of the proposed 100% tariffs. We can't predict what will happen in the future.

At least we know, US hegemony won't last forever. Sooner or later, the "American Empire" will fall, paving the way for another superpower to take over the world. Will it be China, Russia, or the EU? Only time will tell.

We can't predict what will happen in the future. Exactly we cannot and less with some ideological spin to it.
If the client base has less Taxes to pay, businesses have less regulation to comply with, a higher price on some products should be easily absorbed. 

[Fortify]

Most people don't know the reasoning behind BRICS and the refusal to use the $
It's pretty simple, the US $ is not stronger but the local currencies are getting weaker.

https://archive.ph/9gh3E
Translated from the Original Site https://www.faz.net/pro/weltwirtschaft/finanzwelt/starker-dollar-stellt-schwellenlaender-vor-ein-dilemma-110228604.html

The world is watching the interest rate decisions of the central banks with anticipation, especially the American Federal Reserve (Fed). Despite the interest rate cut in December, the Fed has adopted a cautious tone in its forward strategy. Fed Chairman Jerome Powell is waiting to see how the new Trump administration behaves in terms of trade and financial policy, speculated Marcello Estevão, chief economist of the Institute of International Finance (IIF). He and his team examined the latest measures of the most important central banks in the industrialized and emerging countries and analyzed the effects of a strengthening US dollar.

It's not the interest rating of the US$ which makes the US Currency so popular. It's the falling currencies of the nations not living under Euro or Dollar domains.

Last year, central banks faced the challenge of balancing growth and inflation as the global economy was marked by uneven recoveries and geopolitical uncertainty. However, the Fed, the European Central Bank (ECB) and the Bank of Japan (BoJ) moved in different directions or at different paces. For Estevão, this is a sign that a fragmented global economy makes it difficult to "synchronize monetary policy strategies."

My vision of those directors being challenged is more like a meeting of fat cats. Just sipping their preferred liquor. What's yours?

Now 2 things emerging countries fear is  1.st) the $ climbing even higher as debts from the world bank, IMF or even governmental bonds are issued in ..... yeah the $.

Emerging markets have $8.3 trillion in debt
The strong dollar is causing problems for emerging markets. It shows the structural weaknesses associated with foreign debt and financial flows, writes Estevão in Global Macro Views: "The strengthening US dollar continues to put pressure on emerging markets, increasing the burden of US dollar-denominated debt and affecting capital flows, further complicating the monetary policy environment."

Now imagine the dollar drops to 50% vs the Euro. Nothing would change for a country without a meaningful reserve.
Their currency needs to rise in value  to make a difference. Only country trying to do that is South Korea. Turkey wasn't too successful. 

The 2nd fear is: Your president going against capital flight, your country's currency is failing.
Nowadays people with money go into Bitcoin for a reason. We are all grateful for that.

Emerging markets will need to devise innovative policy strategies in 2025 to prevent capital flight, inflation shocks and fiscal constraints that a persistently strong dollar would bring.

It's comical when people compare the so-called "BRICs" against the other major trading bloc of the world. The BRIC countries are much more intensely in competition with each other and have all sorts of unresolved frictions that make this group unstable. Russia is a shell of an economy which is barely surviving from oil revenues but produces little else of value, South Africa's economy imploded decades ago. Brazil, India and China have reasonable economies but Brazil isn't really that aligned with Asia any more than trading with Europe. India and China are both vying for power in the region, yet manage to keep cordial trading links but otherwise have no special connection either.

[Huppercase]

If it were a little more than half the world that were dedollarising, now with the stuff Trump is doing to other countries from Canada to Europe, I wouldn't be surprised if that percentage increased this year and by the end of 2025 we were talking about something like 80% of the world dedollarising... By then US national debt should also be around $39-$40 trillion!

The question is would they do that? I don't know for countries that are powerful and can stand alone but no African country has that power right now to do that. South Africa is already among the top country that is having issue right now with United States and yet they can't back out because US is their number trade zone of mineral resources, they import more than $3b of platinum according to stats in 2022 and are second top country that export items to United state from Africa while US importation was only $300m, now tell me how this is not going to make countries to cry.

Trump has done his mathematics before he pull this stunt. He knows what he is doing and he knows they can't leave, his country benefits comes before any other countries. Look at what happened between him with Canada and Mexico, increase their tarrifs and they wanted to do the same but after a day, they went back and do their assignments and then had a change of mind, who wins? Donald Trump! I don't like him but that guy is smart.

[WillyAp]

The question is would they do that? I don't know for countries that are powerful and can stand alone but no African country has that power right now to do that.

Even if no other country other than the 12 using the US$ as national tender (USA plus 11 Countries use the US $ as national tender).

Private usage is still climbing. More businesses have been opened worldwide and most need US$ to buy goods. Its a fantasy believing that people would rather use BTC, Yuans, Shilling or Reals or whatsoever. BTC made for P2P is a store of value, that is its only usecase.

Chart about Use cases:

Source:
https://www.statista.com/chart/30838/share-us-us-dollar-in-global-economy-global-financial-transactions/

[DrBeer]

The question is would they do that? I don't know for countries that are powerful and can stand alone but no African country has that power right now to do that.

Even if no other country other than the 12 using the US$ as national tender (USA plus 11 Countries use the US $ as national tender).

Private usage is still climbing. More businesses have been opened worldwide and most need US$ to buy goods. Its a fantasy believing that people would rather use BTC, Yuans, Shilling or Reals or whatsoever. BTC made for P2P is a store of value, that is its only usecase.

Chart about Use cases:

....

Source:
https://www.statista.com/chart/30838/share-us-us-dollar-in-global-economy-global-financial-transactions/

I have long written and said - the key problem with cryptocurrency, or rather its acceptance as a mass means of payment, is that there is/remains a dependency of all businesses, manufacturers, retailers,... on fiat currencies. You can't contract, for example, a year's supply of vegetables to a large retail chain for bitcoin. You can't sign a contract in bitcoin to import, for example, alcohol to the same retail chain, you can't sign a contract for the production and supply of medical drugs to a network of pharmacies.... The world is still FIAT, and until fiat and cryptocurrencies become equal players, when there is no difference in what you have signed a contract, only then cryptocurrency will become a full-fledged alternative to fiat currencies.

[WillyAp]

I have long written and said - the key problem with cryptocurrency, or rather its acceptance as a mass means of payment, is that there is/remains a dependency of all businesses, manufacturers, retailers,... on fiat currencies. You can't contract, for example, a year's supply of vegetables to a large retail chain for bitcoin. You can't sign a contract in bitcoin to import, for example, alcohol to the same retail chain, you can't sign a contract for the production and supply of medical drugs to a network of pharmacies.... The world is still FIAT, and until fiat and cryptocurrencies become equal players, when there is no difference in what you have signed a contract, only then cryptocurrency will become a full-fledged alternative to fiat currencies.

No you can't and neither is that placed in the white paper.
Still, you can establish a price the moment you pay, use whatever crypto is useful and pay (with the respective coin).

The motif for countries,or rather their respective governments is different. As long as most money run thru swift, you are with one foot in Jail (with an adverse country's government job).  

[DrBeer]

I have long written and said - the key problem with cryptocurrency, or rather its acceptance as a mass means of payment, is that there is/remains a dependency of all businesses, manufacturers, retailers,... on fiat currencies. You can't contract, for example, a year's supply of vegetables to a large retail chain for bitcoin. You can't sign a contract in bitcoin to import, for example, alcohol to the same retail chain, you can't sign a contract for the production and supply of medical drugs to a network of pharmacies.... The world is still FIAT, and until fiat and cryptocurrencies become equal players, when there is no difference in what you have signed a contract, only then cryptocurrency will become a full-fledged alternative to fiat currencies.

No you can't and neither is that placed in the white paper.
Still, you can establish a price the moment you pay, use whatever crypto is useful and pay (with the respective coin).

The motif for countries,or rather their respective governments is different. As long as most money run thru swift, you are with one foot in Jail (with an adverse country's government job).  

... and here we come to the conclusion - cryptocurrency, at the moment, is the most suitable for risk mitigation in terms of sanctions and punishment for interactions with “bad customers”.

Here's a tip - just don't do business with bad clients, and SWIFT will not be a hindrance for you !

[WillyAp]

... and here we come to the conclusion - cryptocurrency, at the moment, is the most suitable for risk mitigation in terms of sanctions and punishment for interactions with “bad customers”.

Here's a tip - just don't do business with bad clients, and SWIFT will not be a hindrance for you !

Well that won't help you.
Look at the current Syrian leader he was a terrorist, and now he's protector of Siria.
The US used Swift as a weapon, 

[DrBeer]

... and here we come to the conclusion - cryptocurrency, at the moment, is the most suitable for risk mitigation in terms of sanctions and punishment for interactions with “bad customers”.

Here's a tip - just don't do business with bad clients, and SWIFT will not be a hindrance for you !

Well that won't help you.
Look at the current Syrian leader he was a terrorist, and now he's protector of Siria.
The US used Swift as a weapon, 

In this situation the “yard rules” - “the enemy of my enemy is my friend”, “to friends everything, to the rest - the law”, etc. - start to play out.
Regarding the specific example of Syria - I considered and consider Assad a tyrant, terrorist and criminal, but at the same time I do not see anything really positive and useful in the actions of the new government. In essence, one group overthrew another. It does not sound very pleasant and positive, but it is difficult to assess the situation otherwise.

And yes, about SWIFT - any tool in the fight against an enemy or criminal is good ! Or tell me - how to fight with a criminal using “gentleman's rules”, when the criminal's actions are not limited by anything ? Under such conditions, and such a fight is impossible to win under any circumstances !

[Abiky]

Even if no other country other than the 12 using the US$ as national tender (USA plus 11 Countries use the US $ as national tender).

Private usage is still climbing. More businesses have been opened worldwide and most need US$ to buy goods. Its a fantasy believing that people would rather use BTC, Yuans, Shilling or Reals or whatsoever. BTC made for P2P is a store of value, that is its only usecase.

Chart about Use cases:

...

Source:
https://www.statista.com/chart/30838/share-us-us-dollar-in-global-economy-global-financial-transactions/

That's a fact. But I'm afraid the USD's status as the world's reserve currency won't last for long. Especially if the US starts alienating itself from its allies. Trump's tariffs (trade war) will make this happen faster than you can imagine. I think BRICS countries will continue to steer away from the USD. Even if Trump threatened 100% tariffs on countries abandoning the US Dollar.

This is only the beginning. We should expect the worst in the long run. But who knows? Maybe Trump's plan will work after all. If it does, the USD will only get bigger and stronger than ever. It's going to take a long time before another currency takes its place. Let's hope BTC becomes the USD's replacement as the world's reserve currency. Isn't that the goal?

[cryptomaniac_xxx]

Even if no other country other than the 12 using the US$ as national tender (USA plus 11 Countries use the US $ as national tender).

Private usage is still climbing. More businesses have been opened worldwide and most need US$ to buy goods. Its a fantasy believing that people would rather use BTC, Yuans, Shilling or Reals or whatsoever. BTC made for P2P is a store of value, that is its only usecase.

Chart about Use cases:

...

Source:
https://www.statista.com/chart/30838/share-us-us-dollar-in-global-economy-global-financial-transactions/

That's a fact. But I'm afraid the USD's status as the world's reserve currency won't last for long. Especially if the US starts alienating itself from its allies. Trump's tariffs (trade war) will make this happen faster than you can imagine. I think BRICS countries will continue to steer away from the USD. Even if Trump threatened 100% tariffs on countries abandoning the US Dollar.

This is only the beginning. We should expect the worst in the long run. But who knows? Maybe Trump's plan will work after all. If it does, the USD will only get bigger and stronger than ever. It's going to take a long time before another currency takes its place. Let's hope BTC becomes the USD's replacement as the world's reserve currency. Isn't that the goal?

It might be, but this is what we call "war", so we don't know who's going to win. BRICS has been trying for years to move away from dollar,  but still, they are not very successful. This could be the right timing though as Trumps started to alienate from their allies.

And we all know that in politics, there are no permanent enemies, only permanent interest.

So if this nation can't stand the US and they think that they can only win if they go and band together and weaponized themselves against the US, maybe before Trump finished his term as US president, there will be de-dollarization.

[WillyAp]

I think BRICS countries will continue to steer away from the USD. Even if Trump threatened 100% tariffs on countries abandoning the US Dollar.

BRICS will have another go and fail again, too harsh are their differences.
The tactic to place tariffs is childish at best. So far the IRS is alive and kicking, To make tariffs work regulation and taxes have to drop considerately.
Musk is a bit of a disappointment. Most of his "savings" are kinda invented. No transparency either.

[Abiky]

BRICS will have another go and fail again, too harsh are their differences.
The tactic to place tariffs is childish at best. So far the IRS is alive and kicking, To make tariffs work regulation and taxes have to drop considerately.
Musk is a bit of a disappointment. Most of his "savings" are kinda invented. No transparency either.

As much as I support President Trump, I'm not quite fond of his idea to impose "reciprocal tariffs". Unless he's serious about abolishing the IRS, this will only make things more painful for Americans in the long run. Elon Musk's vision of downsizing the federal government is great, but it must be done in a cautious manner. Otherwise, he would risk adding more pain to the American economy. The Russia-Ukraine crisis is still at large, so we should only expect things to get worse. But if Trump manages to end the Russo-Ukrainian war and abolish the IRS, then things will begin to move in the right direction.

Encouraging manufacturers to move to America will also make the economy stronger (which contributes to a stronger USD). With a strong USD, why would any country want to move away from it? BRICS will have no choice but to keep using the US Dollar. Only a weakened USD or deteriorating US relations will accelerate the de-dollarization process. At least, that's what I think. It's an uncertain future, so I'd hope for the best.

[WillyAp]

As much as I support President Trump, I'm not quite fond of his idea to impose "reciprocal tariffs". Unless he's serious about abolishing the IRS, this will only make things more painful for Americans in the long run. Elon Musk's vision of downsizing the federal government is great, but it must be done in a cautious manner. Otherwise, he would risk adding more pain to the American economy. The Russia-Ukraine crisis is still at large, so we should only expect things to get worse. But if Trump manages to end the Russo-Ukrainian war and abolish the IRS, then things will begin to move in the right direction.

Encouraging manufacturers to move to America will also make the economy stronger (which contributes to a stronger USD). With a strong USD, why would any country want to move away from it? BRICS will have no choice but to keep using the US Dollar. Only a weakened USD or deteriorating US relations will accelerate the de-dollarization process. At least, that's what I think. It's an uncertain future, so I'd hope for the best.

I think the current administration forgot about reciprocal in their though process.
They also forgot the guarantee given to Ukraine in 1994. Conveniently so.
Its like a huge reset, but only for the US.

I further believe that the idea to abolish the IRS is nice. Unfortunately so far Trump has done little to alleviate the life of his voters.
The de-dollarization is just a number for States, the real strength of the dollar is the weakness of all other currencies.