Fading the US Dollar

[NoahA]

There is frantic work behind the scene to move world trade from dollar and shield economies from random sanctions US imposes using US$ avantage

I bet that the biggest problem here is figuring out what to move it to. Will people really trust the Chinese Yuan? Even if its supposedly backed by gold? Is another country in any way capable of providing all the liquidity necessary? Wouldn't another country's currency pose the same problem as the US dollar?

The solution is obvious if every country realizes that they don't want another system that is based on the manipulation tactics that any one country can carry out. Its almost like the best solution is something that is bigger than any one country, and that no one country can manipulate.

 

[SunTrader]

The point is the USD is the deparment store credit, if less folks are shooping in the store, one profit center i.e., the interest charge, would be missed.

The same goods , e.g. oil, are available on Amazon, i.e. outside of G7,

Amazon is outside G7, since when?

Still retail sales are more - a lot more - than what department stores do.

 

[SunTrader]

I bet that the biggest problem here is figuring out what to move it to. Will people really trust the Chinese Yuan? Even if its supposedly backed by gold? Is another country in any way capable of providing all the liquidity necessary? Wouldn't another country's currency pose the same problem as the US dollar?

The solution is obvious if every country realizes that they don't want another system that is based on the manipulation tactics that any one country can carry out. Its almost like the best solution is something that is bigger than any one country, and that no one country can manipulate.

Putting aside what ignorant vatniks have to say, if the U.S. Dollar was not advantageous to use countries/companies would not use it - this very second. At some point that will be the case. IMO we are nowhere near that point.

 

[mervyn]

Amazon is outside G7, since when?

Still retail sales are more - a lot more - than what department stores do.

Since we kicked out Russians from the SWIFT, Saudis are shitting their pants, and the rich Chinese too, move money to Singapore, and anyone who thinks at risk of DOJ sanctions, imaginary or not.

 

[mervyn]

I bet that the biggest problem here is figuring out what to move it to. Will people really trust the Chinese Yuan? Even if its supposedly backed by gold? Is another country in any way capable of providing all the liquidity necessary? Wouldn't another country's currency pose the same problem as the US dollar?

The solution is obvious if every country realizes that they don't want another system that is based on the manipulation tactics that any one country can carry out. It’s almost like the best solution is something that is bigger than any one country, and that no one country can manipulate.

agree on no fiat.

a fair solution would be an output or consumption base unit, such as BTU for energy, carbon credit for emissions, calories for food, combination of all these can be calculated and derived, a barter system, not for speculation. that, in most of powerful people’s minds, are communism.

 

[SunTrader]

Since we kicked out Russians from the SWIFT, Saudis are shitting their pants, and the rich Chinese too, move money to Singapore, and anyone who thinks at risk of DOJ sanctions, imaginary or not.

 

[SunTrader]

So the U.S. Dollar index $DXY is at a 6 month high currently but somehow it is all going to end soon because mismanaged BBBY went bankrupt bwahahaha.

 

[mervyn]

So the U.S. Dollar index $DXY is at a 6 month high currently but somehow it is all going to end soon because mismanaged BBBY went bankrupt bwahahaha.

do you know buybuybaby tender offers received recently, 2 out of top 5 are chinese companies offshore who used to be the major suppliers for the chain? another 3 are private equity guys who have no idea how to run a store, albeit they own many retail names in their portfolio.

the way i see it, chinese will call the shots anyway because their price can’t be beaten. the p/e guys will go back to the same suppliers anyway so any talks about product on-shoring are just in their head.

 

[semperfrosty]

agree on no fiat.

a fair solution would be an output or consumption base unit, such as BTU for energy, carbon credit for emissions, calories for food, combination of all these can be calculated and derived, a barter system, not for speculation. that, in most of powerful people’s minds, are communism.

Interesting idea.

 

[semperfrosty]

So,is BRICS a bluff?Or something that the members see as crucial to their forward plans?

I know if I was going to make a move that I saw as crucial to my success and longevity,but was obviously going to be frowned upon,I would begin to remove any reliance on the 'frowners'.

Also,if China had an alternative currency in place,couldnt they dump their interest in the US and cause even further damage while pumping the new currency?