View Full Version : The death of the U.S. Dollar has been greatly exaggerated....
The Dumb Gun Collector
04-08-23, 20:18
While the dollar’s share of the central banks’ $12 trillion foreign exchange reserves has indeed declined since 1999, it is still nearly twice that of the euro, yen, pound, and yuan combined – the same as it was a decade ago. Its nearest competitor for global currency status, the euro, accounts for barely 20% of central bank reserves compared to the dollar’s 58%, followed by the Japanese yen at 5%. The much-touted Chinese yuan lags far behind at under 3% of foreign exchange reserves.
https://www.gzeromedia.com/media-library/image.png?id=33416004&width=980
https://www.gzeromedia.com/by-ian-bremmer/the-dollar-is-dead-long-live-the-dollar
he Chinese yuan, meanwhile, is not a viable alternative because of Beijing’s authoritarian and statist bent. In fact, Xi Jinping’s policy preferences – economic self-reliance, financial stability, common prosperity, and political control of the economy – run directly counter to his global-currency ambitions.
Despite its growing role in the global economy and long-standing desire to unseat the dollar, China lacks the investor protections, institutional quality, and capital market openness required to internationalize a yuan that is still not fully convertible overseas. Persistent currency and capital controls, an opaque banking system with too many non-performing loans, spotty contract enforcement, and often arbitrary and draconian regulations will all continue to undermine Beijing’s efforts to elevate the yuan.
What I love about this story is that it puts the lie to the anti-American fantasy that the Chinese currency is anywhere near unseating the dollar. The Euro is roughly 7x greater than the Yuan and nobody worries about it.
hotbiggun42
04-09-23, 00:05
I think folks are concerned about the Brazil, Russia, India, China, and South Africa or Brics currency. And the fact the democrats want to weaken the dollar. If all of those trillions come back into the country it very well could kill the dollar.
My favorite thing is hearing about the US "petro dollar" as if we are an oil exporting country.
I think folks are concerned about the Brazil, Russia, India, China, and South Africa or Brics currency. And the fact the democrats want to weaken the dollar. If all of those trillions come back into the country it very well could kill the dollar.
Notice his chart shows the steady decline of the dollar.
Like water draining out of a tub and dude saying 'But look! It's still half full!'.
Pretty sure next up he will be 'explaining' to us how us bailing out banks is actually 'good', how our inflation is 'nothing to worry about', how our debt is 'not a big deal', etc.
The comments are entertaining though! :)
I think folks are concerned about the Brazil, Russia, India, China, and South Africa or Brics currency. And the fact the democrats want to weaken the dollar. If all of those trillions come back into the country it very well could kill the dollar.
I can't speak first hand for the rest, but South Africa can't keep the power on or water flowing 24/7 even in the "higher end" areas. I do not predict a thriving, growing economy any time soon. Pervasive "brain drain" exodus continues, black and white. Place is circling the bowl. ANC is running the country into the ground.
The Dumb Gun Collector
04-09-23, 09:29
Notice his chart shows the steady decline of the dollar.
No. From 2000-2010 yes, then it went back up again, then back to where it was in 2010. The key is, look at all the other currencies. Nothing is even close or even increasing in any meaningful way. 60% us, 20% euro, 10% pound/yen. Non-us aligned currencies are barely chartable...
Basically the dollar and the euro aligned countries are the only serious reserve currencies. Exactly as you would guess. Nobody is dumb enough to put their money in a authoritarian regimes currency unless they are forced to by their government.
Basically the dollar and the euro aligned countries are the only serious reserve currencies. Exactly as you would guess. Nobody is dumb enough to put their money in a authoritarian regimes currency unless they are forced to by their government.
Not even Russian oligarchs are dumb enough to keep their money in Russia...
https://www.bbc.com/news/world-60608282
Nothing is even close or even increasing in any meaningful way. 60% us, 20% euro, 10% pound/yen. Non-us aligned currencies are barely chartable...
Your chart shows which are (over the years) moving UP and which are moving down dude. :)
Why are there not MORE countries wanting to depend on the USDollar for their reserves here lately is the question you should be asking.
Why are more and more countries moving AWAY from it?
https://youtu.be/6culYsSCAyI
“Just today, Brazil, the largest country in the Western Hemisphere, cut a trade deal with China,” said Rubio.
“They’re going to, from now on, do trade in their own currencies, get right around the dollar. They’re creating a secondary economy in the world totally independent of the United States. We won’t have to talk about sanctions in five years, because there’ll be so many countries transacting in currencies other than the dollar that we won’t have the ability to sanction them.”
Not sure what his 'size' thing was all about.
https://i.imgur.com/bECkeYZ.jpg
Trump used to talk about the 'quality' of our immigrants. The left is currently willing to (encouraging) and accepting anything and everything and steadily promising 'free shit' and encouraging unlawful immigration practices.
The current junk helps us as a country how?
So let me get this straight DG... you don’t believe a single thing coming out of our open economy but you absolutely believe economic numbers put out by Chinamart and Russia?
According to Tucker, the sky is falling. Does he make some valid points? Only time will tell if there's any real impact:
https://www.youtube.com/watch?v=1t9Cr88sAbk
The Dumb Gun Collector
04-09-23, 17:17
DG, did you notice the Chinese currency is also dropping? It is literally the only non- US aligned currency that actually charts within the margin of error (under 3% and falling). Also, the US dollar is actually a larger percentage of foreign currency reserves now than it was in 1980 (55%), 1989 (50%). It shot up at the end of the Cold War but then the Euro came on and shaved off 20%. The other currencies have remained trivial. https://home.treasury.gov/system/files/206/Appendix1FinalOctober152009.pdf
Again, the US percentage of foreign currency reserves is the same today as it was 10 years ago.
Tucker Carlson is a professional doomsayer who has found a niche' lying to people who want to be lied to. See the recent civil case where his texts revealed he he said he hated Trump and and that the election was obviously not stolen, all the while he was on TV saying the exact opposite. His credibility is somewhere below dog poop/Scott Ritter. https://www.nationalreview.com/news/i-hate-him-passionately-tucker-carlson-unloads-on-trump-in-text-messages/. That doesn't mean he is wrong, but it certainly means he will lie straight to his viewers' face.
hotbiggun42
04-09-23, 17:36
DG, did you notice the Chinese currency is also dropping? It is literally the only non- US aligned currency that actually charts within the margin of error (under 3% and falling). Also, the US dollar is actually a larger percentage of foreign currency reserves now than it was in 1980 (55%), 1989 (50%). It shot up at the end of the Cold War but then the Euro came on and shaved off 20%. The other currencies have remained trivial. https://home.treasury.gov/system/files/206/Appendix1FinalOctober152009.pdf
Again, the US percentage of foreign currency reserves is the same today as it was 10 years ago.
Tucker Carlson is a professional doomsayer who has found a niche' lying to people who want to be lied to. See the recent civil case where his texts revealed he he said he hated Trump and and that the election was obviously not stolen, all the while he was on TV saying the exact opposite. His credibility is somewhere below dog poop/Scott Ritter. https://www.nationalreview.com/news/i-hate-him-passionately-tucker-carlson-unloads-on-trump-in-text-messages/. That doesn't mean he is wrong, but it certainly means he will lie straight to his viewers' face.
That article is the biggest bunch of liberal propaganda that i have read in a while. What happened to the National Review?
That article is the biggest bunch of liberal propaganda that i have read in a while. What happened to the National Review?
More or less the same as our resident CNN viewers. :(
Travelingchild
04-10-23, 08:22
Here's my uneducated view of this.
What is the preferred currency for Narco traffickers and Arm's dealers?
When the DEA, FBI, ATF and other Law Enforcement Agencies start showing suitcases of confiscated "Yuan" or other currency's then I'll worry about it.
Travelingchild
04-10-23, 08:23
Here's my uneducated view of this.
What is the preferred currency for Narco traffickers and Arm's dealers?
When the DEA, FBI, ATF and other Law Enforcement Agencies start showing suitcases of confiscated "Yuan" or other currency's then I'll worry about it.
Here's my uneducated view of this.
What is the preferred currency for Narco traffickers and Arm's dealers?
When the DEA, FBI, ATF and other Law Enforcement Agencies start showing suitcases of confiscated "Yuan" or other currency's then I'll worry about it.
There's various unofficial but telling metrics the US dollar aint going anywhere any day soon, such as go to any one of those countries and you will find a US $20 will be accepted and preferred not just over the worthless Chinese money, but their own money.
Peter St Onge take on how the dollar could tank.
https://mobile.twitter.com/profstonge/status/1645429210658361345
Adrenaline_6
04-10-23, 13:18
It's funny how some people think that competing countries will determine the outcome. The real people with the money run things, they control it. They will make sure they stay in control, smashing whatever economy or economies that require smashing to do so. Creating wars and conflicts with whoever requires it, etc. They have been doing it forever. The Yuan is not controlled by them, so no, until it is, it will never happen.
The End.
F*ck the Yuan...The CBDC is coming...they will control everything.
The Dumb Gun Collector
04-10-23, 18:16
That article is the biggest bunch of liberal propaganda that i have read in a while. What happened to the National Review?
Damn! When you think the National Review is liberal you have gone wayyyyyyy out there.
But yeah, the problem is the actual data doesn't support all the anti-American doomsaying. I have been arguing with these folks my entire life. I remember in college there was some clown named Chuck harder who was saying all the exact same thing on the radio. Secret bankers, BCCI, Jews! the dollar was doomed! (hilariously this would have been around 1991 when the US dollar was only held by 50%, considerably less than now). Back then it was the Japanese that were going to get us. America will not lose to an authoritarian regime short of nuclear war. America is freaking amazing and continues to embarrass 200 years of people predicting its doom.
The CBDC is coming...they will control everything.
This is one of the spookiest issues out there imo...the Restrict act makes my hair stand on end as well.
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