The reason countries wish to be independent from the US$

[Abiky]

The USA  is very manipulative in nature, they look good but are not what they say on paper. USA can't support you with aids without getting anything in return, they must bargain it with your resources. That is why countries are avoiding their loan in particular , they will give you loan and still tell you what do with the money, how can one make us of such loan, yet some Africa leaders are still collecting these loan for selfish gain. Avoid us  aids and grant they are not sincere at tall.

countries are now approaching china for loan and leaving USA loan, because the china loan is free interest loan without manipulative conditions like the Us. Because America get involves with political affairs of others countries and causes instability nations try to avoid them in other not have problems with them. Us are seeing as a threat to every country economy.

Why would countries move away from the US? After all, it's still the biggest economic force in the world. The only reason countries would want to steer away from America is because of rising geopolitical tensions. Especially if we're talking about Donald Trump's tariffs. I know there will be pain for the US and its trade partners because of the on-going trade war. But the effects will be short-lived.

Instead of fighting against each other, countries should work together to make our world a better place. Why decide to retaliate against Trump's tariffs? Countries can make a deal with the US for all of this to be over. But fighting back will only make matters worse. It's no wonder why the global economy is struggling to recover. If countries abandon the USD, "they will have hell to pay". Hopefully, there would be "light at the end of the tunnel" soon.

[DanWalker]

Instead of fighting against each other, countries should work together to make our world a better place. Why decide to retaliate against Trump's tariffs? Countries can make a deal with the US for all of this to be over. But fighting back will only make matters worse. It's no wonder why the global economy is struggling to recover. If countries abandon the USD, "they will have hell to pay". Hopefully, there would be "light at the end of the tunnel" soon.

Instead of calling on nations to work together to make the world a better place, we simply need the US to stop using its power to bully other nations, because they are the ones making the world more unstable.

It would be very painful and the damage would be significant if countries decided to retaliate against US tariffs. But I think it is necessary instead of surrendering to the United States when they were the ones who started this war. If other countries surrender to them, what guarantee is there that they will end this war? Or will they become more arrogant and bully us more?

De-dollarization or abandonment of the dollar will cost us dearly, but continuing to depend on it will cost us many times more in the long run.

[Abiky]

Instead of calling on nations to work together to make the world a better place, we simply need the US to stop using its power to bully other nations, because they are the ones making the world more unstable.

It would be very painful and the damage would be significant if countries decided to retaliate against US tariffs. But I think it is necessary instead of surrendering to the United States when they were the ones who started this war. If other countries surrender to them, what guarantee is there that they will end this war? Or will they become more arrogant and bully us more?

De-dollarization or abandonment of the dollar will cost us dearly, but continuing to depend on it will cost us many times more in the long run.

Yes. Everyone is affected in a trade war. Tariffs must be implemented in a cautious manner. Going too far with them, will ultimately "isolate" the US from the rest of the world. I sure hope that doesn't happen in the long run. Else, it would be an end of an "empire" for good.

This makes me wonder, which country (or countries) will lead the reigns as the world's leading superpower? It could either be BRICS, or the EU. I'm betting on the last one, especially when the EUR is the "second largest reserve currency". World countries might as well start trading in Euros instead of US Dollars. We should expect more pain ahead for the global economy. At least, in the short-term.

[WillyAp]

Instead of calling on nations to work together to make the world a better place, we simply need the US to stop using its power to bully other nations, because they are the ones making the world more unstable.

Politicians are the reason driving the de-dollarization. Why, just so they can use their grey funds elsewhere and no one is the wiser.
Countries could not care less who controls the money flow. Most non Dollar friendly countries love the greenback. If politician were honest they'd save in their currency, but they don't. Panama paper are an interesting read.

here is the list: https://en.wikipedia.org/wiki/List_of_people_named_in_the_Panama_Papers

Look at N. Korea. why do they go after bitcoin, eth?

[letteredhub]

However, it seems China's growing global influence and desire to make the USD irrelevant is purely borne out of its selfish ambition to be the new hegemony. China doesn't want to set the world free from the US dollar. It simply wants to replace it with the renminbi.

Our world will never be a better place if it is dominated by one nation, whether it is the United States or China. But our world would certainly be better and more just if we had a multipolar world with more choices rather than a world where power is concentrated in one power and used indiscriminately.

BRICS is aiming to reduce dependence on the USD and create a multipolar world where other countries have choices, have the opportunity to develop their economies instead of being restricted by thousands of bans and sanctions just because they do not comply or do not please someone. A unipolar world is nothing more than a monopoly, a dictatorship...and I don't think people like monopolies and dictatorships.

You make so much sense which I do agree with. The US is said to be a promoter of capitalism and capitalism encourages competitions amongst individuals but it's unfortunate why they are against the competition the BRICS are introducing into the world economy. A step to liberate economies that have been chained dependent on the US dollar that these countries can only feel one step to development when the US economy must have taken 10 steps ahead. When we have a multipolar economic world not dominated by just one country's currency the world would be a better place than where we are now and certain economic manipulations through one dominant currency will limit or have no place. Fair isn't it?

[STT]

This topic is probably central to the forum, to Bitcoin because its not just now but this Dollar bias is a macro economic effect happening for a great many decades.   What in effect happens is inflation is being exported from the central nations in the global reserve system to all the lesser powerful countries.
  It seems very uneven, unlikely to encourage proper capitalist trade as there is always a bias towards the preexisting largest entities in world trade.

Until this is properly described, explained and understood we arent likely to see a change.   Maybe this current tariff mess will be the end of it in a very messy way but probably not.   We've not seen a good solution to end an unequal currency system like this in the last half century so I would guess a mess that falls apart is how it ends and I dont know we find better international trade occurs in a default of the former system, we can always hope.

[Joy- maker]

There are various reasons why countries wish to be independent from the US, but in my own opinion is do to how US are too manipulative over every thing, for example when loan is being given to a country by the US , the US  will even go as far as given the country directives on how the loan collected from them should be spent which is absolutely wrong it is abuse of power, and I don't see any reason why  the US will want to manipulate everything in this life, at least the US should have it in mind that every countries motivation and circumstances are totally different from the one of US, that's even the reason why countries like China, Russia, Iran and Venezuela are seriously seeking to be independent from the US.

[WillyAp]

and I don't see any reason why  the US will want to manipulate everything in this life, at least the US should have it in mind that every countries motivation and circumstances are totally different from the one of US, that's even the reason why countries like China, Russia, Iran and Venezuela are seriously seeking to be independent from the US.

Every bank does precisely that. Who forces the country to take that loan?
Countries can become organized and countries can stay chaotic.
People in most country safe in the US$

[Agbe]

My personal opinion is that the countries that take power all over the world will never be willing to hand over their power. America will never want to give up their power to lead the world. Again, if we think that China will take over that power from America, dominance will be created there too. That is, we will not be able to be independent.

If we want to be financially independent, it is possible. How effective De-dollarization will be, in the long term, I cannot realize it at this moment, but if we talk about a financially independent and financial system, Bitcoin has occupied that important place. Major countries around the world are trying to reduce the influence of the dollar, and America is able to realize this very easily. Therefore, they must adopt different strategies to stay in power.

As a strategy, they have a good plan to make Bitcoin a strategic reserve currency. Even if countries can reduce the influence of the dollar, they will not be able to reduce the influence of dominance in Bitcoin. That is why it will not be easy to get an scope to weaken the leadership of America.

Alot of countries have started realizing this that is why the move for de solarization is on and this move is getting stronger because countries are getting more wiser and is trying to stop the United States of America from having a control over what happens in their countries, Bitcoin is another way through which this can be realized because Bitcoin is a decentralized currency where no body or country is in control of it so any country that is planing of getting economic independence should adopt Bitcoin because there are allot of benefit that Bitcoin can offer the economies of countries especially the developing world.

[_BlackStar]

-snip-

Alot of countries have started realizing this that is why the move for de solarization is on and this move is getting stronger because countries are getting more wiser and is trying to stop the United States of America from having a control over what happens in their countries, Bitcoin is another way through which this can be realized because Bitcoin is a decentralized currency where no body or country is in control of it so any country that is planing of getting economic independence should adopt Bitcoin because there are allot of benefit that Bitcoin can offer the economies of countries especially the developing world.

Some countries may agree to adopt bitcoin to create independence - but not for all countries. Bitcoin is good for a country's reserve - as well as a currency, but many countries will probably look for other solutions and this will not be determined by them alone. Independence by adopting bitcoin may be easy for countries that do not have their own currency - but for other large countries, I think there are many things they should consider.

I would love for countries to eventually consider bitcoin as a reserve asset and adopt it as a currency - but there are a lot of hurdles to overcome along the way. It's not easy to make decisions - even governments can lose their power when they make the wrong decisions.

[Dark.Look]

I remember in the past year USD was more famous and we saw more people who wanted to trade with USD because people had trust in this asset while now, after everything that happened with the US financial system and them printing money, I see more countries are losing interest in USD.
Still, sometimes, it's not really about using the USD but the other counties prefer to use their own currencies for their trades, which has more benefits for them.
Maybe time after time, we can see the USD losing power.

[viljy]

The reason for the countries' desire for independence from the dollar is very simple. The United States can freeze dollars in assets of any country at any time. Anything can serve as a reason. Keeping your assets in dollars is equivalent to the fact that these assets do not belong to the country. The reason for the freezing is absolutely not important. The very fact of freezing is already destroying the dollar as money. Therefore, de-dollarization will only increase. The era of the dollar is ending just as the era of the pound ended with the collapse of the British Empire. It is not yet clear what will happen instead of the dollar. This process of the dollar losing its role may take decades, and it is unlikely to happen quickly.

[Cossyblack]

China has been giving lots of interest free loans to many countries specially African ones (search and you will easily find them on the internet). But that is not the only major difference. As @Juicyhome mentioned when countries take a loan from US controlled organizations, they have no freedom. How to use the money will be dictated to them. Something that is not true when they take loans from China.

I disagree that countries take loans from China have more freedom than nations take loans from the USA. I do not agree and like with all things the USA do in history and recently but if say China does better like more generous and fair than the USA, it's untrue.

I can have different thinking than you, and I see countries with loans from China, have more dependence on China and it can affect their country policy and development in many decades and generations.

Well China has been trying to replace US in a lot of matters so they need to be different and offer a different deals than the US otherwise countries won't even bother going to China for stuff like loans because there already is a bully US that dictates what they should do!

However, there is a high change this will change in the future when China will have already pushed US out of the markets. They may also do the same exact thing US has been doing so far. But they are not doing it today.

China is already winning and US knows about it,most countries who seek financial and military supports are now  turning to China & Russia for aid. They have started to realize how dangerous it is to do business/ partner with the US. The US always wants the world to see them as peace keepers but we all know that's is a lie as they only go around causing wars rather than restoring peace. Look out what is happening in the middle East,the war between Palestinians and Israel. While powerful countries like Russia and China have been condemning the war and even calling for the arrest of the Israeli PM for genocide,the US have been busy supplying more Military weapons to the Israeli army showing massive support for the ongoing genocide. I think the Ukrainians have learned some lessons never to trust the US,they will only Used you for their selfish gains and later abandoned you at the end. I am not actually saying the US are entirely bad but they aren't what they're claiming to be. I will continue to applaud China for continuous giving out interest free loans to others countries especially poor country.

[Swordsoffreedom]

I am not actually saying the US are entirely bad but they aren't what they're claiming to be. I will continue to applaud China for continuous giving out interest free loans to others countries especially poor country.

Honestly, I don't see the US doing anything good for the world. What they do is for themselves and they never think about the common good of the world. But that's understandable because that's how they can maintain their position as the number 1 power.

I also support China and BRICS but I do not expect China to become a superpower replacing the role of the United States. Because there is no guarantee that if they sit on the throne, they will not do what the US is doing. Instead, I expect BRICS to create a multipolar world where power will be shared equally between both sides.

[cxtreenal]

I am not actually saying the US are entirely bad but they aren't what they're claiming to be. I will continue to applaud China for continuous giving out interest free loans to others countries especially poor country.

Honestly, I don't see the US doing anything good for the world. What they do is for themselves and they never think about the common good of the world. But that's understandable because that's how they can maintain their position as the number 1 power.

I also support China and BRICS but I do not expect China to become a superpower replacing the role of the United States. Because there is no guarantee that if they sit on the throne, they will not do what the US is doing. Instead, I expect BRICS to create a multipolar world where power will be shared equally between both sides.

America's power in the world is now beginning to wane. They have chosen Israel to create unrest in the Middle East. On the one hand, its arms sales are increasing and on the other hand, it is putting more pressure on oil-rich countries so that they cannot create a strong circle. The efforts to create an alternative currency system by creating BRICS have been stalled at present due to the commercial threats of America.

The United States is the world's superpower, this has made them even higher, but you have to admit that the people of this country have surrendered their own dignity to the wrong leader. A trade war has started with China and this is a shame for America. They should know that the sanctions against China in the past have made them (china) stronger.

[moneystery]

....
Instead of fighting against each other, countries should work together to make our world a better place. Why decide to retaliate against Trump's tariffs? Countries can make a deal with the US for all of this to be over. But fighting back will only make matters worse.

it was a good decision for those countries to retaliate against trump's high tariffs because it affected their exports to the us and it also affected their economy. that's why when trump issued high tariffs on china, it didn't take long for china to retaliate with high tariffs, and made the us stock market the worst since covid. you can't expect china or the countries that are hit by high tariffs to just sit back when they are faced with such a difficult situation-- it's not like words will affect trump either. so retaliating with high tariffs is the right strategy that can be taken by those countries, then after that they can discuss this at a bilateral meeting of the countries.

[WillyAp]

it was a good decision for those countries to retaliate against trump's high tariffs because it affected their exports to the us and it also affected their economy.

Tit for tat is childish.
Highly imprudent to act like a child when leading country.

[xOrpian]

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.

You are kinda wrong about this.
The US dollar is a global currency, because it's convertible everywhere. Almost everywhere around the world, you could buy something with US dollars. Try buying something with rubles or yuan outside of Russia and China.
The USD being a global currency is what benefits the US economy, because the USA could afford to have big trade deficits and a giant national debt without any major problems(such problems might occur in the long term). Just because a certain country uses USD in it's foreign trade, that doesn't mean that this particular country is a US colony or something.
And yes, weaponizing the US dollar and the US financial system was major mistake by the Biden administration.

This is not 100% accurate.

The majority of Eastern countries have sanctions on US Dollars. China, Russia, and India occupy the majority of the land in the Eastern part of the world, and they've sanctions on USD. Even Russia is using Chinese Yuan for international trades, where it's banned from using US Dollars (it's banned from using EUR, too).

When these sanctions exist, the masses rarely opt for such foreign currency.

[puloweh555]

There are various reasons why countries wish to be independent from the US, but in my own opinion is do to how US are too manipulative over every thing, for example when loan is being given to a country by the US , the US  will even go as far as given the country directives on how the loan collected from them should be spent which is absolutely wrong it is abuse of power, and I don't see any reason why  the US will want to manipulate everything in this life, at least the US should have it in mind that every countries motivation and circumstances are totally different from the one of US, that's even the reason why countries like China, Russia, Iran and Venezuela are seriously seeking to be independent from the US.

That's right. If we follow the global development of Dollar hegemony, many are no longer healthy, even the US can be arbitrary with small countries and of course the US can easily continue to print Dollars as it pleases. Actually, there are many reasons why countries want to be independent from the USD. Another example is when the US froze Russia's Dollar foreign exchange reserves, this made other countries think twice about making the Dollar their country's foreign exchange reserves. (The meaning of frozen is just an American term to sound good. In fact, it means the same as being robbed).

Then if we look at past history, since long ago the United States has often frozen the foreign exchange reserves of "small" or weak countries such as Afghanistan, only the world feels safe. However, when a country as big as Russia has its foreign exchange reserves frozen, countries around the world become afraid and lose confidence in the dollar because they also realize that it can happen to any country. Therefore, now many countries want to be independent, even this is also echoed by US allied countries themselves. Because they consider USD hegemony to be very disturbing, America can print as much money as possible because the world needs it.

[WillyAp]

Then if we look at past history, since long ago the United States has often frozen the foreign exchange reserves of "small" or weak countries such as Afghanistan, only the world feels safe. However, when a country as big as Russia has its foreign exchange reserves frozen, countries around the world become afraid and lose confidence in the dollar because they also realize that it can happen to any country. Therefore, now many countries want to be independent, even this is also echoed by US allied countries themselves. Because they consider USD hegemony to be very disturbing, America can print as much money as possible because the world needs it.

Russian assets were not only frozen but given to Ucrania.
Your info is pretty stuck in the past.