Fading the US Dollar

Will there a panic rush to exit the $US dollar in the next 2 years?

  • Yes

    Votes: 1 6.7%

  • No

    Votes: 7 46.7%

  • orderly exit in next 2 years

    Votes: 2 13.3%

  • No exit

    Votes: 5 33.3%
  • Total voters
    15
I thought Overstock bought the rights for Bed Bath & Beyond? I think the CEO was on CNBC talking about it a few weeks ago.

Another reason the US dollar has been the reserve currency for so long (besides the military) is that a lot of nations historically invalidate scripts, but the US hasn't done it since Reconstruction (the period of unification & reconciliation after the end of the US Civil War) and that was only if you used the currency from the southern Banks.

I don't think a commodity based reserve would work. That is what was historically used as currency but the Romans didn't have a fractional reserve banking system. Modern banking systems are incompatible with a one for one barter system. Austrian economics is a joke. I mean we can go back to pre-Fannie Mae where only rich people can own homes aka pre-Depression.
 
semperfrosty said:
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?
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That's exactly the point. They don't want to have reserves in US$. Its quite ridiculous with BRICS GDP double of USA they collectively finance USA deficit and military as part of that and also sanctioned for that all the time and like in Russian case money just taken away.

So yeah stakes are high in this game
 
mervyn said:
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.
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Yet more :confused:
 
Hehehe

(Bloomberg)

Currency Alarm
The renewed advance in the US dollar is raising alarm in Asian countries as currencies there fell to multi-month lows, prompting authorities in Japan and China to step up defense of their beleaguered exchange rates. Japan issued its strongest warning in weeks against rapid declines in the yen, with its top currency official saying the nation is ready to take action amid speculative moves in the market — the currency pulled back from a 10-month low after those comments from Masato Kanda, vice finance minister for international affairs. “If these moves continue, the government will deal with them appropriately without ruling out any options,” he said. China’s central bank also offered some of its most forceful guidance with its daily reference rate for the yuan, as the managed currency weakened toward a level unseen since 2007.
 
nitrene said:
I thought Overstock bought the rights for Bed Bath & Beyond? I think the CEO was on CNBC talking about it a few weeks ago.
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always read the fine print, not the headline. what you read is not what you read.

https://www.bedbathandbeyond.com/faq

Will buybuy BABY or Harmon be returning?
buybuy BABY and Harmon are no longer affiliated with the new Bed Bath & Beyond.
 
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nitrene said:
I don't think a commodity based reserve would work. That is what was historically used as currency but the Romans didn't have a fractional reserve banking system. Modern banking systems are incompatible with a one for one barter system. Austrian economics is a joke. I mean we can go back to pre-Fannie Mae where only rich people can own homes aka pre-Depression.
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one currency replacing another won’t work, will run into the same predicament in later time.

brics swap line is based on trades, while probably most of them lack of usd to settle world bank and imf obligations when fail. now they can draw china’s usd reserve and pay back in commodities, a slight relief.
 
SunTrader said:
Fahget the importance of the Dollar, it seems The World According to Marvelous Merv, it's all about Department Stores:-

Welp ....

https://apnews.com/article/jcpenney...tm_campaign=newsletter_axioscloser&stream=top
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don't remember i ever shopped at jcp, my wife would put me in the dog house if i did, saks is a go to stop at minimum, nordstrom next.

but back to your article, this is a typically american ceo hubris, spending 1b to save his own plum job, why not let the stores die and get it over with.
 
mervyn said:
don't remember i ever shopped at jcp, my wife would put me in the dog house if i did, saks is a go to stop at minimum, nordstrom next.

but back to your article, this is a typically american ceo hubris, spending 1b to save his own plum job, why not let the stores die and get it over with.
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Except its not his own plumb job. That happened looong before 2021.

But I guess he should have done it the Roosky way and run out of stock, inferior stock at that.

America had a toilet paper shortage for a couple of months during the pandemic. Russia is still waiting on their 1982 shipment lol.
 
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