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The answer is no... obviously not.

This sort of talk has been floating around, but while the Chinese Yuan is at 2.16% of the worlds currency trade, the USD is at 44%, over half of the next contender of EUR at 16.4%.

The answer is no... obviously not. This sort of talk has been floating around, but while the Chinese Yuan is at 2.16% of the worlds currency trade, the USD is at 44%, over half of the next contender of EUR at 16.4%.

(post is archived)

[–] • 3 pts

Currencies are nothing but commodities. They compete with other currencies. The federal reserve note used to be backed by gold. Later it was oil. Today it's backed by the Fuck Joe Biden cartel. The strength of the currency will determine whether people use it or not. Does the currency lose value. Yes, all currencies do because governments cannot resist counterfeiting their own currencies.

There are a lot of federal reserve notes sloshing around the world economy. This isn't so good if people don't want them. The value goes down.

[–] • 2 pts (edited )

The dollar was the worlds reserve currency because of an agreement between the US and Saudi Arabia back in the 70's that all international energy trades would be accomplished in dollars, creating the "petrodollar". The dollar represented a safe and secure store of wealth. That is no longer true.

De-dollarization has been going on for some time now, ever since the us.gov started using it's position as the worlds reserve currency as a weapon and a control meaure.

Nobody wants to keep their national wealth invested in a something that can be used a stick to beat them over the head with, or suddenly taken away, like a parent taking away a child's allowance for disobedience.

Inflation has further undercut the USD as a store of wealth as it is not tied to anything of value. Noone wants to buy and hold something that becomes progressively worth less with each passing day. But until fairly recently there was nowhere else to go. BRICS has changed that.

the Chinese Yuan is at 2.16% of the worlds currency trade, the USD is at 44%, over half of the next contender of EUR at 16.4%.

That's how these things always start. Very small. Remember, on Monday, October 23, 1929, everybody thought everything was just fine and would continue to be so. Until suddenly it wasn't.

Saudi Arabia has already concluded deals to conduct all energy trades with China in yuan. All the wishful thinking in the world isn't going to stop what's coming. The avalanche is already set to happen and is just waiting for the arrival of that one last snowflake.

Update 04/26/23: https://www.rt.com/business/575399-argentina-china-imports-yuan/

Hitler was right. \o

[–] • 0 pt (edited )

are

You know... are in the as the who started the federal reserve to suck the economy dry... . I mean , they do resemble the happy merchant.

Shucks, I messed up that formatting.

[–] • 1 pt

I think is right https://poal.co/s/geopolitics/632608/7d2b5052-2cb0-4bc3-b1ad-8aaad9d4879f#cmnts

It's an entire different ballgame this time, it's literally what makes the dollar a reserve currency that has been destroyed with the aftermath of the urkaine sanctions affair

I mean even saudis are jumping the ship