Goldman Sachs: Dollar’s in question + Bank of China: Chinese Banks shall drop SWIFT

[Paul2]

FUN FACT: Americans have attempted to control value of USD, to no avail.

They can make USD overvaluation be gone overnight if they just make a slightest tip of starting the move to balanced budget. A surplus government budget in USA, and cutting on debt government issuance will devalue USD by 100% at least.

 

[Paul2]

) -- this shows reduced use of US dollar as global central bank reserves when China is locked out from SWIFT

use of USD in China is import-export and that stops at the border, no transactions occur in USD between Chinese entities.

And China is the biggest trading partner of 40+ countries, quite a bit of whom are major economies.

USA says it can't wean itself off Chinese imports, now imaging how less industrialised countries will do? There are countries with near complete lack of industry, and who are 100% reliant on China for basic living necessities.

They simply have no other option, but to continue trading with China, one way or another. With USD, or without it, or they go straight into middle ages.

I find myself it being a bigger surprise how RMB is not yet a major trading currency, and how unreasonably timid people in Beijing are towards RMB internationalisation.

By all indications, it is largely the China's government own stance to avoid RMB getting too international, and risk just anything happening because of that.

 

[CAPRICORN-88]

nobody is interested in chinese currency , dollar will rule .

Everybody is interested in the Indian Rupee.
Are you happy now. Can we move on?

 

[Han Patriot]

Everybody is interested in the Indian Rupee.
Are you happy now. Can we move on?

Ahhahaahh. Yes rupee, thats almost like toilet paper.