The world is moving away from $US

[Zoii]

The US dollar is collapsing – what started as a trickle of online and financial bodies espousing this, has now started to become more like a river. Why?

• The USA used to have the largest GDP – not anymore. That title now belongs to China and countries like India are rapidly catching up.
• The US dollar used to be the Linga Franca of world economics. Not any more. The establishment of BRICS with two of the top three world GDP nations opposing the US dollar and, regions like Europe are buying oil from Iran in Euros and not US dollars, which means that the strength of the dollar is fading and the capacity of the USA to impose sanctions fading along with it. Some twenty three other countries are applying to join BRICS. That will seriously undermine the strength of the US dollar.
• The US ceiling debt is rising unabated with a current debt ceiling crisis looming in just days. If the US defaults on their astronomical debt their economy could theoretically crash.

Books are being written on the topic as we speak with numerous economists espousing how to profit from the collapse of the US dollar and the calamity of the US economy.

Have we heard it all before - or is this way way way different as many pundits espouse?

American Currency Collapse Has Already Started As BRICS Nations Prepare To Battle US Dollar: Ron Paul - The Daily Hodl

Former Congressman Ron Paul says the dollar's prominence has already started to wane as countries around the world tire of American interventionist policies.

dailyhodl.com

When Will the Dollar Collapse?

The U.S. dollar: The world’s worst reserve currency, except for all the others—for now.

www.thetrumpet.com

Forecast: US Dollar collapse. BRICS countries to increase their global economic influence

In recent years, there have been growing concerns about the stability of the US dollar as the world's reserve currency. The rising power of the BRICS countries (Brazil, Russia, India, China, and South Africa) and their currencies has been a major factor contributing to this concern.

www.linkedin.com

US debt ceiling: Will there be enough time to get a deal through?

The latest debt ceiling talks have been described as "productive" but no deal has yet been reached.

www.bbc.com

https://www.amazon.com.au/Collapse-Dollar-How-Profit-Investing/dp/0385512244

 

[Landon Caeli]

Things have never been better in my neck of the woods.

...If something's wrong with the dollar or the economy, it certainly hasn't effected my life. At least not yet.

 

[HARK!]

Ron Paul called it. Biden's weaponizing the world reserve currency expedites the inevitable.

Even as I write this Biden pushes to further devalue the dollar, by pushing to ramp up the printing presses.

 

[ThatRobGuy]

Ron Paul called it. Biden's weaponizing the world reserve currency expedites the inevitable.

Even as I write this Biden pushes to further devalue the dollar, by pushing to ramp up the printing presses.

What does Ron Paul recommend to remedy the issue?

I've heard him speak before on the matter, and at least at one point, he made the standard talking points about returning to the gold standard, however, that can create just as many challenges as and pitfalls as a fiat currency.

At the end of the day, how our currency stacks up to other world currencies (whether fiat or commodity backed) is contingent on a lot of things that we can't control...especially if we went with a more isolationist approach like Ron Paul used to advocate for -- and maybe still does? I'll admit I haven't been following his stuff all that closely in the last 5 years

 

[Zoii]

Things have never been better in my neck of the woods.

...If something's wrong with the dollar or the economy, it certainly hasn't effected my life. At least not yet.

The references were focussed on the bigger picture as opposed to how you are doing on a personal level. The three main issues are the establishment of BRICS - this is an absolutely massive deal for the US dollar. The second is the state of the ever increasing US debt. The 3rd is the movement by countries like Saudi Arabia and regions such as Europe, who no longer purchase through the US dollar centralised system.

Perhaps its not being discussed in US mainstream media. It is elsewhere in the world. One of the best things the US can do is to firstly not default on its bills, and secondly to once and for all pay off its massive debt.

 

[durangodawood]

Things have never been better in my neck of the woods.

...If something's wrong with the dollar or the economy, it certainly hasn't effected my life. At least not yet.

I see with my own eyes a lot more economically miserable people that I used to.

 

[Handmaid for Jesus]

It's going by the book.

 

[Zoii]

I see with my own eyes a lot more economically miserable people that I used to.

The issue here is not something you are likely to witness tangibly at this point - we are talking more in terms of the strength of the US dollar internationally. Right now its dropped a little, but largely steady - but its skating on razor thin ice.
1. Countries are quickly moving away from the US dollar as a means of trade. Now when that happens the ability of the USA to exert pressure fades rapidly. It cannot exert trade sanctions for example, if people aren't using the US dollar as the Linga Franca in international trade.

2. Secondly the USA is on the verge of calamity if it defaults on payments. It must either raise the debt ceiling and sink the country into even further debt with very high interest rates, OR print more money which immediately devalues it.

3. BRICS is offering a more attractive international currency agreement placing immediate downward pressure on the US dollar. This is all happening right now, being discussed in universities (at least here), on the news, and in media/financial reports generally.

If the US dollar value falls then the economy greatly weakens and at that point you are likely to see quite stark tangible evidence.

 

[Handmaid for Jesus]

All currencies will become digital.

 

[durangodawood]

The issue here is not something you are likely to witness tangibly at this point - we are talking more in terms of the strength of the US dollar internationally. Right now its dropped a little, but largely steady - but its skating on razor thin ice.
1. Countries are quickly moving away from the US dollar as a means of trade. Now when that happens the ability of the USA to exert pressure fades rapidly. It cannot exert trade sanctions for example, if people aren't using the US dollar as the Linga Franca in international trade.

2. Secondly the USA is on the verge of calamity if it defaults on payments. It must either raise the debt ceiling and sink the country into even further debt with very high interest rates, OR print more money which immediately devalues it.

3. BRICS is offering a more attractive international currency agreement placing immediate downward pressure on the US dollar. This is all happening right now, being discussed in universities (at least here), on the news, and in media/financial reports generally.

If the US dollar value falls then the economy greatly weakens and at that point you are likely to see quite stark tangible evidence.

For sure. I was just noting that a localized pov is not indicative of much, except whats happening locally.

The debt ceiling standoff is ridiculous.

 

[Zoii]

All currencies will become digital.

what basis do you have for saying that, and on what standard would it be based. Right now the push seems to be toward the Yuan.

 

[Handmaid for Jesus]

what basis do you have for saying that, and on what standard would it be based. Right now the push seems to be toward the Yuan.

 

[Zoii]

ah I got you. You may like this article.

How a New Digital Dollar Could Shake the US Financial System

The Biden administration is looking into a government-issued digital currency. The implications would be profound.

www.wired.com

But digital or paper currency, the issues for the $US remain the same

 

[Handmaid for Jesus]

But digital or paper currency, the issues for the $US remain the same

Well, based on the trends we are seeing, the world is headed for a one world digital monetary system eventually.

 

[HARK!]

What does Ron Paul recommend to remedy the issue?

I've heard him speak before on the matter, and at least at one point, he made the standard talking points about returning to the gold standard, however, that can create just as many challenges as and pitfalls as a fiat currency.

At the end of the day, how our currency stacks up to other world currencies (whether fiat or commodity backed) is contingent on a lot of things that we can't control...especially if we went with a more isolationist approach like Ron Paul used to advocate for -- and maybe still does? I'll admit I haven't been following his stuff all that closely in the last 5 years

Ron Paul advocates living within our means. Considering that 50% of our budget goes to military spending, and that doesn't even include the CIA,NSA etc.; he'd start by bringing our troops home.

There is a difference between being a non- Imperialist Interventionist, and an Isolationist.

 

[HARK!]

I've heard him speak before on the matter, and at least at one point, he made the standard talking points about returning to the gold standard, however, that can create just as many challenges as and pitfalls as a fiat currency.

China and India have been buying up huge amounts of gold. Russia was already rich with gold. The BRICS nations are moving toward a currency that is backed by gold. Which currency would you rather hold, a currency redeemable in gold, or a currency that is backed by inflation and Authoritarianism?

 

[HARK!]

Things have never been better in my neck of the woods.

...If something's wrong with the dollar or the economy, it certainly hasn't effected my life. At least not yet.

Have you bought anything in the past few years, like food?

Inflation is driving up the costs of goods at a much faster rate that wages are being increased. There are strong indicators that we are on the verge of stagflation. Many countries around the world are already suffering serious crises, over this inflation. We don't feel it as hard because we are closer to the fiat currency supply. U.S. dollars are not money. They are IOUs They are debt. Foreign nations are holding our debt, and their holdings are being devalued when we increase our debt. This is in addition to the struggles of running their own governments. Our problems will be compounded, as foreign nations who are holding American dollars, start dumping those dollars, and sending them back to the U.S.. The U.S. dollar is now only worth 3% if what it was worth in 1933. History has shown us that fiat currencies have a lifespan of about 100 years. We could lower interest rates, and print more Federal Reserve Notes, to stimulate the economy should companies start laying people off, in the midst of rising costs; but with the U.S. dollar only retaining 3% of its' initial worth, there isn't much wiggle room left.

When all else fails; go to war.

Watch and see.

 

[DaisyDay]

Compared to other world currencies, the US$ is doing just fine.

However, if the House lets the US default on its debts, then they can crash our economy to smithereens.

 

[trophy33]

Well, based on the trends we are seeing, the world is headed for a one world digital monetary system eventually.

No, the trend we are currently seeing goes against a one world monetary system - since the West blocked Russia from paying their obligations and VISA and Mastercard suspending their services for Russia, they are creating their own monetary system, for BRICS.

No country wants their enemies to control their finances, quite logically.

 

[Say it aint so]

The Bid to Dethrone the Dollar​

The greenback’s dominance is here to stay. Here’s why.

The US dollar is collapsing – what started as a trickle of online and financial bodies espousing this, has now started to become more like a river. Why?

• The USA used to have the largest GDP – not anymore. That title now belongs to China and countries like India are rapidly catching up.

Don't think the bullet point is right.