de-dollarification, brics, 401k leverage

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lets s see and assume I am to become brics fan. IMO, biggest barrier to brics common currency is also a language barrier. English is a world language and dollar is closely associated with it. You decided to transact with ruble or Yuan, but first thing that makes me very uncomfortable doing so is popularity of Russian or Chinese language. Every other corner of the world, English language is pronounced as world language. If you go to most countries, starting at airport what two languages you primarily see on signs? That countries own language and English. Sure you sometimes see several more langguages but you also never see a Chinese or Russian translation of local language to guide tourists.
 
ggelitetrader000 said:
lets s see and assume I am to become brics fan. IMO, biggest barrier to brics common currency is also a language barrier. English is a world language and dollar is closely associated with it. You decided to transact with ruble or Yuan, but first thing that makes me very uncomfortable doing so is popularity of Russian or Chinese language. Every other corner of the world, English language is pronounced as world language. If you go to most countries, starting at airport what two languages you primarily see on signs? That countries own language and English. Sure you sometimes see several more langguages but you also never see a Chinese or Russian translation of local language to guide tourists.
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if you are selling soybean from Brazil to China, language is the less of your concern.
 
You think inflation is bad now, wait till the US loses the dollar as reserve currency. The sanctions on Russia have hastened BRICS as well as other countries, dealing in their own currencies to settle their balance of trade. As the dollar loses its value and other countries currencies rise in value, the cost of anything the US imports will go thru the roof. On top of that, countries the US has alienated might refuse to trade with the US, some things the US imports might not be even available when that happens. Or if the US buys it from another country, would cost an arm and a leg.
 
ggelitetrader000 said:
looks like g7 is outpassed by brics recently, although it has been gradually happening, it looks like it crossed psychological mark where 1st time brics pass g7 in economic output. scary news is they are revamping up not using dollars. This concerns about dollar based savings, 401k, 529. Is there any financial instrument that leverage against dropping USD value?
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Metals is definitely best for its global flexibility but if you’re looking for fiat hedges simply do currency futures, it’s simpler and provide better liquidity
 
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