Posted on 03/20/2022 11:35:47 AM PDT by RomanSoldier19
It seems the entire world and their leaders have awoken from a deep slumber after two long Covid lockdown years, and are starting to put in place all the things they had envisioned over their respective terms. As the world was just coming to an end with the entire Covid mandated vaccine boosters and endless testing, perhaps returning to some sort of normalcy similar to pre-Covid times, we have been thrown yet another crisis.
It seems the world leaders, and governments over can only function from one crisis to another in order to justify their horrendous policies and lobby their agendas. After all, how can they control the population or the narrative. Religion used to be opium of the people, today it is fear. Fear alone is allowing people to give up their rights for the sake of "national security", or at least that is what they are being told.
If it was not enough to manage the Zelentskyy/Putin headlines on an hourly basis, mixed with commodity shorts being squeezed on billions in margin calls as institutions puked assets. Yesterday afternoon another bomb, proverbially speaking thankfully, was dropped on the markets when WSJ released a story that Saudi Arabia was considering trading oil in yuan for its sales to China. Saudi Arabia is one of the top three producers of oil along with Russia and the U.S. China is the world's largest consumer of oil, so it seems a direct match to trade in yuan, instead of the dollar.
(Excerpt) Read more at realmoney.thestreet.com ...
Yes.
China is trying very hard to maintain stability in its yuan but it is far from a reserve currency, let alone a transparent one. If Saudi Arabia were to go through with this, it would mark a significant step away from historical allegiances and the U.S. dollar/SWIFT system would be done. Commodities as we know it, will cease to exist the way we have known for the past 50 years, with correlations breaking down as the dollar will cease to be its driving force. Perhaps a slow move to a basket of select currencies like euro, yen, yuan, and others would be a more suitable alternative to trade oil and commodities. But make no mistake, the wheels of change are already set in motion. Covid and Ukraine have just brought that time line closer to the dollar's ultimate demise.
Yes, and it is inevitable.
I don’t know exactly when, but I do know there will be much sorrow and gnashing of teeth
These amateur hour types always confuse oil or other commodities using the US dollar as the price standard, with commodities transacting in US dollars.
You can’t replace something with nothing. So what cuurency will replace the US dollar? HINT! IT WILL NEVER BE THE CHICOM YUAN
If it appears the dollar is losing world reserve currency status which it appears to be, you can be certain that WW3 is in the offing. Americans standard of living would quickly be cut in half, as would Europe’s, resulting in civil unrest and potential civil wars/revolutions. They will ignite WW3 before that is allowed to happen.
I do not know what the replacement might be.
Some kind of crypto seems most likely right now, but ?
This is a hotly debated topic on the financial blogs.
It is important to remember that the petrodollar gets destroyed even if short term transactions are conducted in any other currency.
It is not necessary for any one currency to permanently replace the dollar to doom the dollar.
Countries can hold assets in a “basket” of currencies of their choice to hedge their risk. They can keep some of their holdings in gold or cryptocurrencies or other commodities as a further hedge.
Chicken little is right at home here.
I’ve been reading about the death of the dollar for over 4 decades. IMF SDR’s (basket: U.S. dollar, euro, Chinese renminbi, Japanese yen, British pound) have been in existence since 1969. THAT IS 50 YEARS!!
If that solution is THE ANSWER, how come it’s just flopped around like some fish on the bottom of a boat for all that time? There’s not enough gold on planet earth to back all the currency in existance so don’t go there.
America of 2022 is not the America of 50 years ago, for starters.
You have a bad case of normalcy bias.
Eventually things actually change—this could be one of those moments.
There is some sort of quote like this:
“History is about many years where absolutely nothing happens, and then everything happens all at once.”
I think we will eventually see a gold backed trading currency started by the BRICs.
They have spoken about it for a while.
No, you have a bad case of spewing glib meaningless catchy phrases but can’t give any real specifics. WHY AREN’T COUNTRIES ANNOUNCING RIGHT TODAY, NOW, THAT THEY WILL BE USING SDR’S?
https://satoshichris.substack.com/p/world-reserve-currencies-last-on?s=r
While I do not agree with the conclusions at least this gives a history of reserve currencies in case anyone is interested.
Countries do not need to hold press conferences on this topic.
;-)
They will do what they will do—and they will not ask anybody’s permission or necessarily make any announcements.
The end of the financial world as we knew it will not be televised.
;-)
That’s a joke. There’s not enough gold on planet earth to give any real backing. Dont take my word, do your own homework. Research total gold in existence, do the math to get the current value of that gold. Then it will be obvious that that is a small spit in the ocean compared to the world’s country’s GDP’S, economic and trading activity.
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