USD as world reserve currency coming to an end?

I like the naive extrapolations of China's progress. Takes me back to the 80s.

Not worth arguing. Reserve currency status, China's progress, Covid masks and vaccines.
 
maxinger said:
my goodness!
this is a very old video.
it was probably made before the video camera / camcorder was invented.
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Yer far out, man.

How can a video be made after videos could be made with video-recorders?

Mind blown.

Here's like 1990, before the Internet as we know it.

Mind Blown.


Want me to bust out a video of the rotary telephones?

Maybe you forgot what it means to be human.

Here, max, here's what it is like.


Starting to feel like a human yet? Stop being a dumbass.
 
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kmiklas said:
I had an epiphany about this tsunami of Fed and ECB money printing.

--> There is a structural change in progress
--> The US Dollar is losing its place as the world's reserve currency.
--> The Yuan is replacing the US Dollar
--> Change is happening, and we're in the storm.
--> It's often hard to see the storm if you're in the middle thereof

Given the extraordinary and unbridled amount of QE, the reaction must also be something extraordinary; beyond even inflation. The money-printing, 0 rates, etc. is a last stand for the dollar; a final pitch to keep it on top.

In my opinion: buy CNY and learn Chinese.

View attachment 267240

Ref:
https://twitter.com/x/status/1168555133455589376
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Different Question.

What if I could provide you with a completely new economic model, with new tools, a new strategy and money circulation theory? Do 'you' think this would solve the problem?
 
kmiklas said:
I didn't say that the $USD is coming to an end, I said that its position _as_the_world's_reserve_currency_ is coming to an end, and the Chinese $CNY/$RMB (Yuan/Renminbi) will take its place.

In other words, its days as the earth's numeraire are numbered.

...additionally, it's a little disconcerting to see you people _agreeing_ with me. I'd kinda hoped that you'd shoot this idea down. If I'm right, this doesn't bode well for me here in the USA.
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Everything is relative when it comes to currency. You have lots of reasons to be down on the dollar, try listing them out. Then list out how the Yuan is better in each of those aspects. Even before you consider the fact that the country behind the Yuan is a dictatorship that has shown no compunction pulling the rug out from under any economic aspect they wish whenever they want, you'll still find that any problem you come up with for the USD the Yuan has that same problem and more. Go ahead, start your list here and we can discuss. It’s not enough for the dollar to be bad, the replacement has to be better. The Yuan just isn't.
 
Sig said:
Everything is relative when it comes to currency. You have lots of reasons to be down on the dollar, try listing them out. Then list out how the Yuan is better in each of those aspects. Even before you consider the fact that the country behind the Yuan is a dictatorship that has shown no compunction pulling the rug out from under any economic aspect they wish whenever they want, you'll still find that any problem you come up with for the USD the Yuan has that same problem and more. Go ahead, start your list here and we can discuss. It’s not enough for the dollar to be bad, the replacement has to be better. The Yuan just isn't.
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Agree. I was chatting with a friend, and he pointed out that the world's reserve currency is not _dictated_, it's chosen by a _market_consensus_. After WWII, Sterling lost its reserve status because London was flat broke, and people trusted the USD far more.

We are a long way from a market consensus on CNY or RMB. Step 1 would be to unblock it, and let it float against other currencies.
 
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