Dollar is fake money but just legalized fake money

[Johnlomape]

The government of several countries came to agreements for them to use fiat as a currency for trade because they can easily print it and manipulate the citizens with it and none of them will be punished for their actions.

Back days, other form of currency couldn't be manipulated because it's rare to see them and there was no much inflation. Humans are not satisfied with what they have, they prefer to take from others by trick. This is the same thing the government is doing with fiat currency that was made by them. The government is the problem not fiat (usd, euro, pounds etc.)

Is the problem fiat? I don't think so. Before fiat, there had been other forms of money that were effective. When the economy is mismanaged, more paper money will be printed to cover up for the poor handling of the economy. Instead of using financial and other resources to improve the economy, politicians prefer to sponsor wars.

Even if Bitcoin becomes the major currency, there will still be inflation in some countries because of poor economic management. The problem is not money but greedy, proud, and power-drunk leaders.

Politicians has always been the problem and sometimes they tried to put the problem on other things, they make people believed that the problem is not really from them. I think there should be a law to educate elected president on how to behave and handle the economy matters that has been put in there custody so that inflation does not increases due to so many mistakes made by these politicians and sometimes this can be as a result of grudges against other people/countries and political parties.

There is serious mismanagement of funds and unethical policies government are creating that will not favour the citizens or the average people, but they wouldn't care because they are in charge.

 I don't see genuine reason why Trump have to attack Iran, I don't see a reason why Russia and Ukraine have to continue this war when it should have ended long time ago. I don't see a reason why Afghanistan will be at war with her closest neighbor. All these need to stop, the world need peace not conflicts.

[The Sceptical Chymist]

another extremist thread.
Imagine buying groceries with BTC or USDT which, by the way, is a private FIAT. USDC, USDT also looses value as chained to the US$.

 

About the stablecoins there, I've got nothing to say but:  a very nice and easy way to disprove OP's assertion is to just go to a store and spend what he thinks is fake money.  Ruling out professional counterfeiters with the creative gifts of an artist making the banknotes on his press, the store will take that 'fake money' and you'll get your goods.  QED in your face all day, sir.

I've been reading nonsense like this ever since I joined bitcointalk, and it's just an asinine position to take.  Are there problems with fiat currencies?  Oh yes.  Is fiat worthless, is it toilet paper, is it [insert zero-value equivalent descriptor here]?  No.  No, no, no, no.

Stop it with this crap.

[UmerIdrees]

another extremist thread.
Imagine buying groceries with BTC or USDT which, by the way, is a private FIAT. USDC, USDT also looses value as chained to the US$.

 

About the stablecoins there, I've got nothing to say but:  a very nice and easy way to disprove OP's assertion is to just go to a store and spend what he thinks is fake money.  Ruling out professional counterfeiters with the creative gifts of an artist making the banknotes on his press, the store will take that 'fake money' and you'll get your goods.  QED in your face all day, sir.

I've been reading nonsense like this ever since I joined bitcointalk, and it's just an asinine position to take.  Are there problems with fiat currencies?  Oh yes.  Is fiat worthless, is it toilet paper, is it [insert zero-value equivalent descriptor here]?  No.  No, no, no, no.

Stop it with this crap.

Very true, dollar isn't a fake money and it's not going anywhere. All those promises and hopes that Bitcoin will replace dollar and it will become world global currency doesn't seems to be happening as of now. The world financial system resolves around dollar and it will continue to do so for years to come.

Even if the crypto adoption increases , still the dollar will be the digital dollar and all the currency will be evaluated in digital dollar and that doesn't make the dollar weak. It can still be printed and produced easily. Even it may take decades to even completely eliminate paper money from the world.

[SeriouslyGiveaway]

About the stablecoins there, I've got nothing to say but:  a very nice and easy way to disprove OP's assertion is to just go to a store and spend what he thinks is fake money.  Ruling out professional counterfeiters with the creative gifts of an artist making the banknotes on his press, the store will take that 'fake money' and you'll get your goods.  QED in your face all day, sir.

I've been reading nonsense like this ever since I joined bitcointalk, and it's just an asinine position to take.  Are there problems with fiat currencies?  Oh yes.  Is fiat worthless, is it toilet paper, is it [insert zero-value equivalent descriptor here]?  No.  No, no, no, no.

Stop it with this crap.

Fiat currencies have their values and purchasing powers that are different, either high or low or extremely low. Usually, fiat currencies barely have 0 purchasing power even inflation is very high and there are many problems in that nation. Exception is only when something too extremes happen in that nation, like a wipe out war, a very possibly regime change to make that fiat currency become non-recognized globally. Again it barely happens.

The more popularity is fiat currencies all lose their purchasing power with time, even the US Dollar.
Purchasing Power of the U.S. Dollar Over Time.

[Crypto_Timothy]

If we want to explain why world is like that the whole financial and all the things we need to understood dollar is fake money and its legalized fake money the world is not about now merits or skills but your success comes ability to use money printer to get fake money it creates monopoly and dollar power + huge inflation and the unequal world because those who can just print dollars will take everything not because they provide some better skills or merits to the world only reason is that they got that FAKE money maker.

The use of the term "Fake Dollar", that was what brought my attention to your post but as i read what you posted, maybe i am not understanding you clearly you are talking about the financial system and i wouldnt exactly call dollar a fake currency, i mean i can undestand the sentiment if im being honest but i dont think i can agree with the term "fake money". The currenncy is the most popular fiat currency for obvious reason and i can also understand themm trying all means to make sure the dollar remains recognized and powerful. i am not defending but sometimes we just have to admit reality.

[DrBeer]

I support dedollarization, but honestly, I have never thought about what currency will replace USD, and I do not expect that to happen either.

What difference would it make if another superpower replaced US, but the world remained unipolar, with power concentrated in a single entity? Instead, why not look at the bigger picture? The world does not alway have to operate under a model dominated by a single superpower. The world would be a much better place if it were more multipolar and power were distributed more evenly instead of being concentrated in a single entity.

But tell me honestly—what don't you like about the dollar as a reserve, “unified” currency for international settlements?
I'll be honest—my only complaint is that I'm positively jealous that they managed to pull off such a feat and that the dollar has secured this position
I can't find any other objective reasons for disliking the dollar, on which virtually the entire model of mutual settlements in the world is based...

As I said, I believe the world would be better and more prosperous if it were more multipolar instead of unipolar as it is today. Even if it were not USD, but yuan or euro, I would still object, and what I object to is the monopoly and abuse of power.

I support dedollarization not because I utterly hate America or the dollar is problematic, but because I hate a unipolar world

I do not understand why everyone says they hate dictatorships and monopolies, but then supports a unipolar world where power is concentrated in the hands of only one power. That is really contradictory.

The dollar as a reserve currency is not about “bad USA”, it's about the unification of the payment system. A single mechanism on a single currency is CONVENIENT! Just imagine the international economy without a single currency, but with 250 currencies from different countries. From the point of view of even the technical implementation of the international settlement system, this is a very complex system. And imagine, for example, what a grocery store would look like where:
- potatoes come from Egypt
- sunflower oil comes from Ukraine
- strawberries come from Israel
- mangoes come from Thailand
- beef comes from Brazil
- rum comes from the Dominican Republic
- spaghetti comes from Italy
- ...
etc.
How would the owner of the store/chain purchase all of this in different currencies, keep records, and account for the risks of the currencies themselves?

And most importantly, the US does not force you to use the dollar—trade calmly in your local currency, there is no such ban and there cannot be. The question is whether your economic partners will agree to this...
 

[Localhostspeed]

The use of the term "Fake Dollar", that was what brought my attention to your post but as i read what you posted, maybe i am not understanding you clearly you are talking about the financial system and i wouldnt exactly call dollar a fake currency, i mean i can undestand the sentiment if im being honest but i dont think i can agree with the term "fake money". The currenncy is the most popular fiat currency for obvious reason and i can also understand themm trying all means to make sure the dollar remains recognized and powerful. i am not defending but sometimes we just have to admit reality.

OP wasn't giving the literal meaning to the explanation, he called dollar fake because it's back by nothing. The US government and the Fed prints money anytime they like and anyhow they want, this has been the genesis of inflation in the US and why the purchasing power of their currency has reduced for over a long period of time now and they have never change a system of printing, they print money at their convenience and when they are in need.

Although, as much as we may want to paint it bad, dollar still remain one of the best currency in the world, some countries even in the next 30 years will not get a stronger currency like the one of US due to their economic growth, they are always one step ahead of any country that thinks they are better than them and that I will give it to them for sure, they know how to manage economy even when it's bad they still look for a way to make it work.

[Etranger]

The dollar as a reserve currency is not about “bad USA”, it's about the unification of the payment system. A single mechanism on a single currency is CONVENIENT!

Of course, it’s convenient. And the world acknowledges this, if not in words then through actions, since everyone still uses the dollar to one degree or another. And if the dollar had not become the unified medium of payment and store of value, some other currency would have taken its place. People are not really complaining about the existence of a “common denominator” mechanism itself, but about the fact that the dollar is the one playing that role. Because a large number of countries would prefer their own national currency to be in the dollar’s position.

[Hispo]

Threads like this one make me wonder what would be the ideal scenario for people who believe paper money is fake.

Are they supposed to go back to silver and gold coins? Honestly, I don't thing countries like the United States would be able to mint enough silver coins in order to replace all their circulating supply...

I get Fiat money carries many disadvantages and problems in the long term for citizens and people who seek to save money for their future, but as long as it is legal tender and allows us to get actual good and services then it is okey to be used in one's daily routine. On the other hand, any money we do not need for our daily routine should be invested and converter into other kinds of commodities or assets: Bitcoin, Gold, silver, Oil, Litecoin, you name it...

At this point, most economist would agree FIAT is a necessary evil.

[OsaiEmma]

If we want to explain why world is like that the whole financial and all the things we need to understood dollar is fake money and its legalized fake money the world is not about now merits or skills but your success comes ability to use money printer to get fake money it creates monopoly and dollar power + huge inflation and the unequal world because those who can just print dollars will take everything not because they provide some better skills or merits to the world only reason is that they got that FAKE money maker.
Now the world is full of fake money called dollar so the fake money owners creators and distributers know that very well ofc they dont want to give power away what they will do is will make rates higher of loans + higher trading tarifs also so they will do all to make sure that fake money will be returned back and less money in hands of many so then this fake money will have value again, but the problem is here another one too..... its not just dollar $ the £ euro cad....all of them are fake money but just legalized fake by criminal mafia bankers and goverments

What we will see is now euro pound dollar higher rates higher yields and off course higher trading tarifs + more taxes + more all kind of regulations ALL THIS to make illusion to people that money is limited, when in reality there is too much of western nations currencies and all of them want same thing.... that their fake money stays and world will accept their fake money as currency.

Yes it is a construct but that doesn't mean it is fake because, money as a whole, it's value reflects the economy of a country, ok let's walk down history lane a little.
The trading system at first was done by barter(trade by barter), i.e exchanging goods and services for goods, it transformed to using things that was deemed valuable like cowry, salt, gold, silver, cattle e.t.c, then it transformed to metal coins produced from gold and silver, then at some point paper money, which started in China, where they give you a note of equivalent value to the number of coins deposited with merchants, then the banking system started.

Initially, there was a meeting held known as the Bretton Woods conference in 1944 after the 2 world war, 44 allied countries met, and agreed on making the dollar a global fiat money where the dollar is pegged to gold at $35/ounce and other money are pegged to the dollar, but because of how the gold reserve was drying up due to the rapid exchange of dollar cause more dollars are being printed but less gold are in the reserve, it is not matching the rate in which the dollar is being printed, in 1971 Richard Nixon unpegged the dollar from gold so as to reduce the exchange rate, he made it that each country's currency is tied to their economy/government although that haven't made the dollar any less influential and valuable but that solved the then problem.

Money has always been a social construct, from trade by barter, to cowries, shells and cattles, to gold and silver, they were given value by the people, not like they come with the value, same as Bitcoin, the more people accepts it, the more value it has,  and the more influential it becomes.

The dollar is not fake per say, it is a direct reflection of the financial state of the US, and same goes to other currencies, that's why Bitcoin is so valuable, no one economy can directly affect Bitcoin, although some macroeconomic factor can, but this reflects to like the world at large and not just a single country or economy.

[DrBeer]

The dollar as a reserve currency is not about “bad USA”, it's about the unification of the payment system. A single mechanism on a single currency is CONVENIENT!

Of course, it’s convenient. And the world acknowledges this, if not in words then through actions, since everyone still uses the dollar to one degree or another. And if the dollar had not become the unified medium of payment and store of value, some other currency would have taken its place. People are not really complaining about the existence of a “common denominator” mechanism itself, but about the fact that the dollar is the one playing that role. Because a large number of countries would prefer their own national currency to be in the dollar’s position.

And yet everyone wants to be healthy, have a fit body, a nice house, a comfortable car, a bank account, and various assets.... But WANTING something doesn’t mean you can have it! The fact that other countries want their currencies to replace the dollar is a primitive, unfounded desire, most likely born of envy.  But the answer is simple: if we were to abolish the dollar as the world’s reserve currency today, what currency could fully replace it tomorrow?
This is a rhetorical question for everyone—suggest a currency, but be sure to explain what characteristics it has that would allow it to become a reserve currency for the global economy?