Our Chart of the Week looks at the recent data release from a longer-term perspective. Process of substituting US dollar as the currency for various uses. All those dollars in foreign accounts will come home, which will annihilate our monetary system. Also, China just announced that it will stop purchasing our debt (holding dollars in reserve). In turn, US dollar exchange rates can be influenced by several factors, including diverging economic paths between the United States and other economies, differences in monetary and fiscal policies, as well as foreign exchange sales and purchases by central banks. Most crime is from foreigners who came in illegally.. E.g. With the most recent commodity supercycle peaking in 2011, could the next big one be right around the corner? A new world monetary system is being set up right now which will completely kill the US dollar, which is the world's reserve currency. The list of the 23 countries which are creating new swap lines outside of the dollar include China, Russia, India, and surprisingly, Germany, France, and the United Kingdom. There is no reason for Malaysia to continue depending on the dollar, Anwar said, in comments reported by Bloomberg. Thats the problem with America today! India Ranked the world's sixth-largest economy, India is one of the biggest merchandise importers. . The group of five economically-aligned countries collectively known as BRICS is reportedly on the cusp of a massive expansion. Russia and China's Steps Towards De-Dollarization Concerned about America's dominance over the global financial system and the country's ability to 'weaponize' it, other nations have been testing alternatives to reduce the dollar's hegemony. We need to worry about pronouns! The de-dollarisation drive continues: Which nations are dumping the US Since the invasion in 2022, the ruble-yuan trade has increased eighty-fold. Sooklal says the list includes 13 countries that have formally asked to join and an additional six countries that have informally requested to be part of the alliance. Switzerland Adds to List of Countries Dumping Dollar / Euro What am I thinking? [22], In March 23, 2022, Putin signed an order forbidding "non-friendly" countries (including EU countries, United States and Japan) from buying Russian gas in any other currency besides the Russian ruble in the wake of sanctions given in aftermath of 2022 Russian invasion of Ukraine[23], In January 2023, Finance Minister of Saudi Arabia Mohammed Al-Jadaan stated that it is open to trade in other currencies besides the US dollar, and this expression is considered to be the first time in 48 years. Countries worldwide are dropping the US dollar: De-dollarization in China, Russia, Brazil, ASEAN The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the US dollar. All over the world economies that have not totally shot themselves in the foot by gambling in the Anglo-American casino are now moving to set up various currency exchanges by passing the dollar. Credit: (photo: MicroStubHub/iStock by Getty Images). De-dollarization its a theme in other parts of the world: Despite these movements, few expect to see the end of the dollars global sovereign status anytime soon. To facilitate the transfer of currencies and swap lines, there needs to be a bank of sufficient size and stature to aid in handling of this monumental task. Thats all very well but take away the border control and now the crime rate is the worst in the world. The best-known gold rush in modern history occurred in California in 1848, when James Marshall discovered gold in Sacramento Valley. The unilateral sanctions the United States has imposed on countries all across the planet, in flagrant violation of international law, are backfiring. Folks the biggest sign is when those that trade in the dollar to acquire goods, no longer want the worthless paper because of US bully policies or they have totally lost faith in the US as a responsible steward of its currency and economy. April 28, 2023 12:10:40 IST, Dollars share of global reserves has declined by 11 per cent since 2016 on this adjusted basis, a report by Eurizon SLJ Asset Management said, Businesses in Bangladesh have welcomed the decision to settle trade with India in INR and taka as they think that the arrangement will reduce pressure on forex reserves and promote trade, Brazil has not joined Western nations in imposing sanctions on Russia and has refused requests to supply ammunition to Ukraine. The Central Bank of Iraq (CBI) is purchasing large amounts of gold to back the Iraqi dinar currency. In recent months, Brazil and Argentina have discussed the creation of a common currency for the two largest economies in South America. That day has finally arrived as on Nov. 18, a former head trader for a major financial institution issued a harbinger and stated that 23 countries, and 60% of the world's GDP, are right now setting up new swap lines which bypass the dollar, SWIFT, and the BIS, and will usher in a new global currency system which will kill the dollar. While technically the U.S. dollar could collapse, it's backing from the largest economy in the world and its status as the global reserve currency, makes that highly unlikely. The South American country announced that it would pay for Chinese imports in yuan rather than dollars, in a measure to save the countrys dwindling dollar reserves. Tajikistan, Cuba, Luxembourg and Sudan have also shown interest to use this mechanism. The core collective consists of Brazil, Russia, India, China . Meanwhile, the share of the euro has fluctuated around 20 percent, while the share of other currencies including the Australian dollar, Canadian dollar, and Chinese renminbi climbed to 9 percent in the fourth quarter (green line). The book discussed and predicted these events. As word spread, thousands of migrants flocked to California in search of gold, and by 1855, miners had extracted around $2 billion worth of gold. Many nations are now seeking financial alternatives, afraid that they could be the next target. Although it has remained the international reserve currency, the U.S. dollar has increasingly lost its purchasing power since then. The chances of record mine output could be higher if gold prices continue to increase. [7], According to the IMF's Currency Composition of Official Foreign Exchange Reserves (COFER) survey the share of reserves held in U.S. dollars by central banks fell from 71 percent in 1999 to 59 percent in 2021. Prime Minister Anwar Ibrahim met with Chinas Xi Jinping on 31 March and its reported that the two discussed plans to create an Asian Monetary Fund and weaken the US dollar hegemony. Too many leftist idealist that really have a failed clue on just about everything OMG! Both agreed to deepen economic integration and challenge the hegemony of the US dollar, using yuan and other currencies in international tradehttps://t.co/uTPkDIrfVb, Ben Norton (@BenjaminNorton) March 26, 2023. Exactly you dont know because you fail to understand once one nuke is launched the rest of the world would follow suit and in the end 6-7 billion people are dead, and the ones who survive will likely die from radiation poisoning, and starvation. What started in September of last year, when an agreement between China and Russia ended the dollar's stranglehold over oil and how it was purchased, the past 14 months have seen a momentous rush towards setting up the infrastructure to replace the dollar completely in global transactions. Hording precious metal inflates their prices and produces shortages and waste where these metal should only be applied for industrial use. This scenario has been engineered for a deliberate collapse of the dollar fiat currency and an attempted forcing of everyone into a digital dollar system run by the banksters. For several years, financial analysts, primarily those outside the mainstream of academia, have been warning that any day could be the black swan event that collapses the dollar, and ends U.S. hegemony as caretaker of the world's reserve currency. Think! The United States became, almost overnight, the leading financial power after World War I. Turning to this past year, once we account for the impact of exchange rate movements (orange line), we see that the US dollars share in reserves held broadly steady. 3 reasons not to worry", "US dollars no longer a quote currency in Venezuela", "Fintech is the new oil in the Middle East and North Africa", " | | ", "Egypt Turns to the Chinese Currency With Yuan-Denominated Bonds | Egyptian Streets", "Egypt seeks to issue $500M in Chinese bonds, $1.5-$2B in sovereign sukuks", "Myanmar to Lower Dollar Reliance in Favor of Ruble, Rupee, Yuan", "Myanmar discussing with Russia use of Mir card for payments", "Government Favours Bolstering Tenge over De-Dollarisation, Says National Bank Chief", "kazakhstan holds rates after inflation surges to 6-year high", "Kazakhstan Hold Rates After Inflation Risks 'Strengthened', "Russia Cuts Dollar Holdings From $119 Billion Wealth Fund Amid Sanctions", "Exclusive: Russia likely to buy yuan on FX market in 2023 - sources", "With a sale of Chinese yuan, Russia kicks off 2023 forex intervention", "Amid Western Sanctions, India Explores Rupee-Ruble Mechanism for Trade with Russia", "India explores 'rupee-rouble' exchange scheme to beat Russia sanctions", " 50%", "China and Russia ditch dollar in move toward 'financial alliance', "China, Japan to trade in own currencies", "So Long, Yankees! And with 23 countries, including those from the BRICs nations and the Eurozone, preparing for new swap lines outside of dollar hegemony, the fuse has been lit on the dollar's death rattle, and the when has changed into the now. Moreover, it doesnt seem to be a longterm viable option. .More Countries Repatriating their Gold and Ditching The Dollar Survival Economist: 3-6-2022 Hungary's Gold Repatriation Adds To Growing Protest Against US Dollar Hegemony. YEAH BABY- MURDER IN DISGUISE IS THEIR COMIE NAME OF THEIR SICKO GAME!! The joint statement of Kazakhstan government and national bank stated that their intent is to strengthen their national currency rather than focus on eliminating US dollars. Countries that Use the US Dollar 2023 - worldpopulationreview.com Anwar proposed the Asian Monetary Fund at theBoao Forum in Chinas Hainan province. Indias very own Kumar Vivek, deputy commissioner at the ministry of finance, also said that there are challenges to overcome to move away from the dollar. And thats just for starters. Top 5 countries opting to ditch US dollar & the reasons behind their Nuke the United States. [26][27], In May 2022, Egyptian Minister of Finance Mohamed Maait announced the intention to issue bonds in yuan to raise capital as an mechanism to diversify the sources of finance. [2] After the U.S. emerged as an even stronger superpower during the Second World War, the Bretton Woods Agreement of 1944 established the post-war international monetary system, with the U.S. dollar ascending to become the world's primary reserve currency for international trade, and the only post-war currency linked to gold at $35 per troy ounce. But what is important is the distributed ledger that will enable CBDCs to be audited by the public. [34][35], In June 2021, Russia stated it will eliminate the dollar from its National Wealth Fund to reduce vulnerability to Western sanctions just two weeks before Russia's president Vladimir Putin held his first summit meeting with U.S. leader Joe Biden. Would love to compare notes. Sur combines the currency of Argentinas peso and Brazils real. However, many nations are looking for alternatives to the greenback to reduce their dependence on the United States. China's holdings of US sovereign debt dropped to $1.165 trillion in August, from $1.171 trillion in July, marking the third consecutive month of declines as the world's second-largest economy bolsters its national currency amid trade tensions with the US. Plus the fact that the fellow who first presented it still owns a huge %age of Bitcoin is a major fault. The original Bretton Woods Agreement is dead, but the dollar remains the international reserve currency. Anyone here as long as we are not American Indians will not be accepted as Americans you cannot steal yourself to be Americans and with this money swap the chicken is gonna come to rouse if the dollars drop god bless us here the future for non-indians especially whites, blacks will be the judge then Mexico would be richer than us they may kick our ass out and reclaim their land this is a very serious issue.
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