Posted on 07/15/2025 5:12:26 AM PDT by Tom Tetroxide
More news about the de-dollarization of the US Dollar and the movement away from the SWIFT system by the BRICS+ countries.
De-dollarization started about 2001 and has not stopped.
“De-dollarization started about 2001 and has not stopped.”
It won’t stop. The question is whether Trump can set up a counterpart to BRICS, which would include Europe (if they grow up a bit) and Japan, and the Western Hemisphere. Very big task, but definitely necessary.
Throwing a twitterfit isn’t the correct response to the shift away from the dollar.
Get the deficit under control, restore the dollar as a reliable store of value, and the problem will take care of itself.
We have no standing to “retaliate” against anyone with regard to financial mismanagement. We haven’t reached Weimar or Zimbabwe levels yet, but we’re working on it.
The BRICs are fed up with it? So am I. And then there’s Bitcoin; I remain a skeptic on that, but I understand why people are voting against the dollar with their feet.
I think Trump sees that. His no 1 objective is to make us the wealthiest country in the world. Looks like Argentina turned things around quickly.
Jim Rickards wrote in his book, “Currency Wars” that all major wars of global impact are “currency wars”. Who will have the reserve currency?
“Throwing a twitterfit isn’t the correct response to the shift away from the dollar.”
Damn!!! If only we had you up there running things!
This... thank you.
Also, what I call "dollar bullying." Whenever a nation does something we don't favor we, quite literally, steal their dollar reserves then pass the loot around to nations we do favor.
And it's often not governments that get looted, it's the businesses and individuals who we've invited to become debt holders. Why make an investment when the investee can confiscate it then demonize you?
“Throwing a twitterfit isn’t the correct response to the shift away from the dollar. Get the deficit under control, restore the dollar as a reliable store of value, and the problem will take care of itself.”
You are correct. The problem is that the Republicrats/Demonicans are addicted to deficit spending. I see no major turnaround in our immediate future.
Good move by Trump. Currency trading blocs are not free market and should be opposed absent legitimate foreign policy goals.
No More Free US Dollars For You
I would know enough not to blame other countries for things we are doing to ourselves.
We need to get our own house in order, not look endlessly for scapegoats. Why should anyone retain confidence in the dollar while we are hellbent on spending and borrowing ourselves into bankruptcy?
10% seems pretty mild.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.