To be fair, the dollar IS losing value, and it IS in fewer treasuries of nations than before. So I am not sure what American lovers expect. Do you expect to buy a single loaf of bread with a million dollars like this is some Zimbabwe situation? De-dollarisation is the fact that the dollar is used less and less in the world, and right now, fewer people are keeping it; that's the point, and inflation in the USA is so great that they have a 40+ trillion dollar debt, raising the ceiling more and more.
So what are you after? Seeing the people on the streets? People taking drugs and dying on the side of the road? Hard-working citizens dying because they are not able to afford medical care? Children not getting a good enough education and turning to a life of crime because of it due to public schools being defunded? They are all happening in the USA, as of right now. Just because the USA has some super wealthy business people going to space and sunbathing on yachts doesn't change the fact that America is at it's worst right now.
1. Yes, we have to admit that all currencies lose their value.
2. The price of a loaf of bread in "strong Iran" - not a million per loaf, but about 650,000 Iranian rials
Who there was dreaming of a price of a million for a loaf of bread?
3. For the "heroic fighters against the dollar", here’s a bit of analysis:
Over 6 years:
the USD’s share of SWIFT payments: 38.7% -> ~50.5%
the USD’s share of foreign exchange reserves: 58.9% -> 56.8%
4. "Scary examples from the U.S." - I remember them all the way back from the 1980s in the USSR, where every media outlet and newspaper constantly told us how "the West is rotting away" and how we were thriving. Then, of course, the USSR collapsed because life there had become almost impossible
By the way, how are things looking with all of the above in the BRICS countries? Tell us - we’d love to envy them!
Yeah its inevitable that all currencies will lose its value. But maybe there are noticeable difference on each countries.
That price of the bread in Iran shows huge collapsed of their rial, while USD still dominate and actually at this moment it rise up to 38.7% - 50.5% also their reserve still at high percentage.
Although BRICS discuss about doing diversification, but what's happening in real time is they are still dependable on USD. None of them tried to replaced it. I heard about that story about USSR claims before that West is in bad shape. but yet they are the one collapsed.
Nowadays despite of many issues and attempt to raise up the dedollarisation discussions, still USD remain the anchor of global trades. While BRICS suffering from huge inflation.
I’ll try to explain the issue of de-dollarization as simply and clearly as possible: it’s like saying, "We refuse to breathe a mixture that’s 78% nitrogen, we’ll replace the nitrogen with a different gas". The whole world breathes a mixture of nitrogen, oxygen, and argon, but someone decides to switch to a different mixture
Even if you could breathe a mixture consisting of 78% of some other gas, you’d only be able to do so… in an isolated environment. Any attempt to step out into the real world forces you to switch back to breathing nitrogen. It’s exactly the same with the dollar: the entire global economy currently uses the dollar. You can buy any product, in any country, with a dollar.
At the same time, many BRICS/de-dollarization advocates categorically ignore this fact and pretend not to notice it - China is trying to force its own local currency on all BRICS members.
And the reason isn’t that it’s better; the reason is simple, by doing so, China will make the economies of the unfortunate countries that fall for this scheme completely dependent on China, and their economies will become dumping grounds for China’s economic problems.
If they had created a new single currency backed by some form of liquid collateral (gold, Bitcoin, etc.), then that would have been a somewhat viable solution... But no, BRICS, which was meant to be an economic union, has, due to the actions of certain toxic participants, become just as toxic and internally contradictory a "union" that seeks not to promote development, but to address the well-deserved problems of those very same toxic participants.
