“Americans Will Be Poor Overnight!” - Reaction To China & Brazil Agreement To Ditch US Dollar

[jhungary]

but selling to me what? I remember I told you I don't believe a word you said.

How do you know that was me when i sell you stuff? Have you ever met me? Or you somehow know my identity?

LOL

 

[War Eagle]

“Americans Will Be Poor Overnight!” - Reaction To China & Brazil Agreement To Ditch US Dollar​

1) No, this doesn't threaten the U.S dollar as the world's reserve currency. They're exaggerating because that's their grift strategy to get and keep viewers.

2) If Americans became poor overnight, China would be in huge trouble. We're the largest single export partner for China. U.S consumption is 20% of China's total exports. The subsequent decrease in trade would be the macro-economic equivalent of blowing your right kneecap off with a 12 gauge and no anesthetic.

China's economic growth is built off the back of American financial might. America losing that would do the same if not more damage to China due to how global trade works. We got a taste of a global recession in 2008 due to the U.S mortgage crisis, imagine a global great depression from the U.S dollar's value collapsing.

 

[pikkuboss]

How Brazil will survive a currency swap with trade imbalance tilted toward China

By involving another which has trade deficit with Brazil.

Easier said than done when will pak join brics

Probably never, Pakistan doesn't add any value to the economic group and India won't allow anything Pak in a Napak economic alliance she created.

 

[beijingwalker]

China's economic growth is built off the back of American financial might. America losing that would do the same if not more damage to China due to how global trade works. We got a taste of a global recession in 2008 due to the U.S mortgage crisis, imagine a global great depression from the U.S dollar's value collapsing.

I agree, actually China is the last country which likes to see dollar collapse overnight now, China benefits a lot from this dollar based world trade system, maybe more than US itself, and collapse of this currency probably would hit China more than it hits US. but due to the ongoing increasing tension between China and US, China now is starting to work on plan B. That is to reduce dollar global dominance, but not to do away with it.

 

[gambit]

I thought Americans will be poor overnight when Venezuela was exporting oil?

 

[jhungary]

By involving another which has trade deficit with Brazil.


Probably never, Pakistan doesn't add any value to the economic group and India won't allow anything Pak in a Napak economic alliance she created.

Other don't spend Lira and RMB too. The problem will still exist because you will have to either unload Lira or RMB or both to them to keep the rate going. Just because you bend together some other country to have a swap deal does not mean you can spend RMB by itself to anyone other than China. Or are you suggesting that Brazil trade with, say, Peru with those RMB stock? Then the question will become how will Peru disperse those RMB they are stacking up form China and now Brazil?

I don't know if you know, what you are describing is called a "Ponzi Scheme" it never would have resolved the issue.

 

[Enigma SIG]

Fun fact, we have members on this forum that claim that they are F-22 pilots.

 

[jhungary]

I thought Americans will be poor overnight when Venezuela was exporting oil?

I am poor, please send me money.......

 

[gambit]

Fun fact, we have members on this forum that claim that they are F-22 pilots.

Who?

 

[mmr]

“Americans Will Be Poor Overnight!” - Reaction To China & Brazil Agreement To Ditch US Dollar​

Only if CCP wet dreams ever come true lmao

Every day usa dying in hunger and Europe begging…in the mean time thousands of illegal chinese trying to get in to USA for citizenship Lmao

>beijingwalker and his 96th thread on collapse of the US dollar as the global reserve currency

probably more lolz

I say over thousand.

 

[beijingwalker]

Only if CCP wet dreams ever come true lmao

Every day usa dying in hunger and Europe begging…in the mean time thousands of illegal chinese trying to get in to USA for citizenship Lmao


probably more lolz

I say over thousand.

Read again, troll

Actually China is the last country which likes to see dollar collapse overnight now, China benefits a lot from this dollar based world trade system, maybe more than US itself, and collapse of this currency probably would hit China more than it hits US. but due to the ongoing increasing tension between China and US, China now is starting to work on plan B. That is to reduce dollar global dominance, but not to do away with it.

 

[Mishipeshu]

First of all, I have both a degree minor in Economy and a Master in International Business.

Second of all, I am the one that discussing the point in this post.

Which your reply is



That's not counting anything I said on this post above. Now, if you can tell me and explain away how or why my post is wrong, that may have score you some head wind, but just saying "Everyone is stupid but you" that's not countering my point.


That's an Australian flag.......

Talking about stupid people......

Wow, it's like walking into a kindergarten playground.

Instead of acting like 5 year olds, maybe the Elite forum member should do some research into the points that Jhungary is making.

My International Trade training and experience tells me that he is right on the money wrt the need for a trade balance.

One of the main immediate impacts would be the loss of one of many trade intelligence resources for the US. Trust me, large international USD transactions are closely monitored. (Anything of 10K if memory serves me)

That being said, it seems to become clear that more and more countries are considering alternatives to the USD.

Yet we must not forget that the USA knows very well how to ensure people do not lose faith in the USD, even though history does tell us that "super powers" and "world orders" come and go.

Nothing in this world is static, it may just seem that way when the corrections are frequent and small.

 

[jhungary]

Wow, it's like walking into a kindergarten playground.

Instead of acting like 5 year olds, maybe the Elite forum member should do some research into the points that Jhungary is making.

My International Trade training and experience tells me that he is right on the money wrt the need for a trade balance.

One of the main immediate impacts would be the loss of one of many trade intelligence resources for the US. Trust me, large international USD transactions are closely monitored. (Anything of 10K if memory serves me)

That being said, it seems to become clear that more and more countries are considering alternatives to the USD.

Yet we must not forget that the USA knows very well how to ensure people do not lose faith in the USD, even though history does tell us that "super powers" and "world orders" come and go.

Nothing in this world is static, it may just seem that way when the corrections are frequent and small.

Trade balance is not going to be affecting currency strength very much, because you don't have enough trade balance to affect the currency settlement volume. You are talking about hundred of billion a year (Again, we are talking about TRADE BALANCE not trade volume) to Quadrillion of year of settlement using USD in a single year, in fact 305 days a year.

As a matter of fact, if you look at Settlement report from CIPS, SWIFT, and SFMS, the more diversify the payment being used, the more it actually benefit the USD, because you would have to transfer the volume of trade from your local currency into Yuan, which you would need to route thru USD. Especially CIPS, which til now still have a great share in settlement with USD and RMB is not even half the volume of settlement for their own inter-bank company...

On the other hand, it's very easy to look at how country switch to Yuan payment impact US dollar strength. That is by looking at the conversion rate between USD to RMB.

It was largely unchanged and unaffected by the news of country switching to Yuan for payment, in fact, the only event that significantly shifted the dynamic is the 2020-2022 COVID lock down in China which strengthen the USD, and RMB is actually weaker against the green bag since 2023 when they announce all those switch, that's mostly because people speculated that would put pressure on RMB.

And finally, US has a negative trade balance since 1980s, and is not a manufacturer powerhouse since probably late 70s, did anyone able to replace the USD in the last 50 years or so?

 

[Get Ya Wig Split]

China has no chance against the US.

 

[nahtanbob]

It will take decades to see effect materializing, remember here we are only talking about bilateral trades. This is a good development in the long run.

bilateral trades are fun as long as they are balanced

The whole world is stupid including economists from US, only you are smart and the world has to revolve around you, got it.

Simple question is if I have surplus Chinese currency what can I do with it ? @beijingwalker