Unless the USA has a real civil war the USD is still a more secure currency.
Things take time. Notice Saudi’s cancelling the petrodollar. That happened two weekends ago. Effects will accumulate. The election will make a huge difference in the future of America’s economy, as Biden will continue to accommodate foreign nations seeking to do harm.
That means the headlines aren’t working! More headlines!
It’s a scam for the CCP and and Russians to get the sucker nations gold.
I have long argued that the Euro is the alternative. The Atlantic Council shows why.
If the BRICs decided to make an immediate decision to ditch the dollar, and the EU goes along, the dollar is finished.
https://view.ceros.com/atlantic-council/table/p/1
We certainly shot ourselves in the foot by weaponizing the greenback, especially confiscating sovereign assets. No one wants to be the next Libya or Venezuela or Russia and BRICS seems a viable plan ‘B’ in case they get on the wrong side of Washington.
The fuse has been lit for sure, but it will take longer than some imagine.
The Eurodollar market is huge; dwarfing what we have here in the States. Global demand for dollars - for trade settlement; for dollar loans and a place to park those dollars (Treasuries) insures we have a long way to go before declaring the dollar dead.
We have a deep and highly developed bond market, including swaps that currently unrivaled anywhere else.
The BRICS countries are fiscal dumpster fires.
Joined together, they are a big dumpster fire.
Like bankruptcy, it will happen slowly, then quickly.
The idea that sick unstable countries like Brazil, Russia, India, China, South Africa were going to come up with something to replace the dollar was laughable in the first place.
Not necessary, because they De-Dollarization of petroleum purchase, which makes the dollar a fiat money that have less value, which will result in more inflation.
Biden’s economic advisor, Jared Bernstein, you know, the guy in the infamous YouTube video who was incapable of answering basic economic questions, has long been on record as wanting to end the US dollar as the world’s reserve currency. So you legitimately have to ask yourself if this is all part of a grand plan.
These are the people who are running this country.
Wait…I thought the petrodollar was dead and Russia and China will rule the financial world going forward.
Just the thought of the Yuan and Ruble being used for anything serious just makes me guffaw a little.
Such economic delusion out there.
Months ago there was a lot on hootin’ and hollerin’ about the demise of the dollar and the US. I didn’t like what I was seeing either, but I stated things
don’t always turn out like you think they will. Here we are. Things didn’t go
go the way our enemies wanted them to.
We definitely need to get our debt under control. OR ELSE!
If the DNC retains the white house, the Brics family will grow to over 160 countries.
Turkey is on the cusp of joining. Hungry is going to join or at least have an associate status.
Venezuela, Malaysia, Thailand are the latest to apply.
All countries must ban sanctions.
Related links to Brics and finances.
https://www.youtube.com/watch?v=89rrMXU5b8U
https://www.youtube.com/watch?v=0XI0xyQVcRk
https://www.youtube.com/watch?v=Vv9DVOhyNhE