Goldman Sachs warns the dollar is at risk of losing its dominance, and could end up a lesser player like the UK pound

[sur]

Actions of US government are based upon same foolish template they always use. Sanctions. This time they shall backfire. The country of Lincholn and Jefferson acting like overgrown child.

Concerns have grown that the dollar's dominance could be declining.scanrail/Getty Images

• Goldman Sachs has said the US dollar faces a number of risks, and could become a lesser currency like the UK pound.
• The US' tough sanctions on Russia have raised concerns that countries around the world could try to move away from the dollar.
• Goldman said the US' foreign debts mean that foreign investors may become reluctant to hold dollar assets.

Goldman Sachs has warned the US dollar faces risks that could erode its global dominance, saying it's dealing with some of the same challenges that the British pound faced in the early 1900s. . . .

First it was IMF, now Goldman Sachs:

https://twitter.com/x/status/1509425394897850375

 

[chinasun]

In the face of a pandemic, the U. S. government spent $7 trillion. Therefore, the dollar will continue to depreciate. Gold is the world's currency.

 

[S10]

China needs to reduce its US dollar holdings, replace it with Euro and gold.

 

[LeGenD]

Bro, are you an American citizen, if you are you are perfectly allowed to have a pro American outlook, but I sometimes feel that you don't tolerate opinions or views contrary to your pro American outlook.

As a Pakistani you do realize that the PRC is a strategic ally of Pakistan, and the US is increasingly a strategic ally of India, if China comes out second best in this new cold war, then we will be forced to live on under indian hegemony by the US.

I simply posted an alternative view which I believe is accurate and on topic.

Speculation is a known practice in economic themes and practices.

What is Speculative Motive? Definition of Speculative Motive, Speculative Motive Meaning - The Economic Times

Speculative Motive definition - What is meant by the term Speculative Motive ? meaning of IPO, Definition of Speculative Motive on The Economic Times.

economictimes.indiatimes.com

On the Presence of Speculative Bubbles in Stock Prices on JSTOR

Hashem Dezhbakhsh, Asli Demirguc-Kunt, On the Presence of Speculative Bubbles in Stock Prices, The Journal of Financial and Quantitative Analysis, Vol. 25, No. 1 (Mar., 1990), pp. 101-112

www.jstor.org

Take a good look at the portfolio of Goldman Sachs. You will understand.

I am not sure why you are complaining here? Did I censor you? Yes, I am perfectly aware of Pak-China strategic ties and I have been a vocal supporter of CPEC project but how is this theme relevant to this topic on hand? You expect me to make this my goalpost in every topic? There is right time and place for all discourses.

It is better to have different perspectives on the table, and more accurate judgements about any theme. Eco-chambers are of no value and use.

 

[Piotr]

China needs to reduce its US dollar holdings, replace it with Euro and gold.

Buying gold is IMO good idea but I don't think replacing US dollar with Euro is a good idea. Both US dollar and Euro become increasingly toxic. USA at least has a lot of resources (oil, gas, coal, agricultural land), what the Eurozone countries has ? Now as Russia demand unfriendly countries to pay for gas in Rubles, Euro will lose it's importince even more. Better buy resources (like silver, palladium, platinum, etc.) that are used by the industry. Increasing oil and gas strategic reserves could be good idea either.

Last but not least the EU beaurocrats could seize China's reserves like they seized reserves of Russia.

 

[Song Hong]

Buying gold is IMO good idea but I don't think replacing US dollar with Euro is a good idea. Both US dollar and Euro become increasingly toxic. USA at least has a lot of resources (oil, gas, coal, agricultural land), what the Eurozone countries has ? Now as Russia demand unfriendly countries to pay for gas in Rubles, Euro will lose it's importince even more. Better buy resources (like silver, palladium, platinum, etc.) that are used by the industry. Increasing oil and gas strategic reserves could be good idea either.

US is brainwashing everyone on monetary theory.

If we study the basic principal, fiat money must be either backed by natural resources, asset (land), or industrial products, food or gold.

Russia has natural resources, food and land that everybody wants. She will not loss the financial war though she may not win either.

I define loss by

1. hyperinflation in Russia
2. massive currency devaluation

 

[Piotr]

US is brainwashing everyone on monetary theory.

If we study the basic principal, fiat money must be either backed by natural resources, asset (land), or industrial products, food or gold.

Russia has natural resources, food and land that everybody wants. She will not loss the financial war though she may not win either.

I define loss by

1. hyperinflation in Russia
2. massive currency devaluation

Exactly! Physical Economy is what matter the most. Russia is in very good position, US position is not bad either (as USA has a lot o resources), the EU is in the worst position. USA created conflict in the Ukraine to drive a wedge between Russia and the EU countries and to weaken the EU. US policy is "F**k the EU" as described by Victoria Nuland. The EU is going to be the biggest loser from US war against the Ukraine (started in 2013/2014).

 

[Song Hong]

Exactly! Physical Economy is what matter the most. Russia is in very good position, US position is not bad either (as USA has a lot o resources), the EU is in the worst position. USA created conflict in the Ukraine to drive a wedge between Russia and the EU countries and to weaken the EU. US policy is "F**k the EU" as described by Victoria Nuland. The EU is going to be the biggest loser from US war against the Ukraine (started in 2013/2014).

US appears to have bought significant German elite class. It seems that for a long time, Merkel stop the war singlehandedly. She was able to convince Putin and restrain Ukraine. Merkel took on the pressure and fort ahead Nord Stream 2.

Then Olaf Scholz came onboard and must have taken lots of monies from US. This guy halt Nord Stream 2, and suddenly, Ukraine up the micro aggression in Donbass.

Putin has enough.

 

[Viet]

We now have GasRuble and, GoodsYuan (in future).

What’s about palm oil from Indonesia?
People pay in Palmrupiad?
Don’t forget coconut from the Philippines.

In the face of a pandemic, the U. S. government spent $7 trillion. Therefore, the dollar will continue to depreciate. Gold is the world's currency.

The price of gold is much related to US government bond yields. Not much with the amount of dollars in circulation. If gold is the new currency then we can forget the worlds economy. All will dive into deep depression.

 

[Rafi]

I simply posted an alternative view which I believe is accurate and on topic.

Speculation is a known practice in economic themes and practices.

What is Speculative Motive? Definition of Speculative Motive, Speculative Motive Meaning - The Economic Times

Speculative Motive definition - What is meant by the term Speculative Motive ? meaning of IPO, Definition of Speculative Motive on The Economic Times.

economictimes.indiatimes.com

On the Presence of Speculative Bubbles in Stock Prices on JSTOR

Hashem Dezhbakhsh, Asli Demirguc-Kunt, On the Presence of Speculative Bubbles in Stock Prices, The Journal of Financial and Quantitative Analysis, Vol. 25, No. 1 (Mar., 1990), pp. 101-112

www.jstor.org

Take a good look at the portfolio of Goldman Sachs. You will understand.

I am not sure why you are complaining here? Did I censor you? Yes, I am perfectly aware of Pak-China strategic ties and I have been a vocal supporter of CPEC project but how is this theme relevant to this topic on hand? You expect me to make this my goalpost in every topic? There is right time and place for all discourses.

It is better to have different perspectives on the table, and more accurate judgements about any theme. Eco-chambers are of no value and use.

Bro I am not casting doubt on your patriotism or anything, just wanting to you to acknowledge that China is our strategic ally and that although the US is definitely not an enemy, it is very closely allied to our enemy.

 

[UKBengali]

OK, did we need Goldman Sachs to tell us this as we are moving into a multipolar world over this decade?

Once the Arabs start to move away from demanding payment in dollars for their oil and gas and the Chinese are able to supply all the technology that the world needs, of course the dollar will just become one of the basket of major global currencies like the Euro, Pound, Yen etc.

 

[Song Hong]

I mentioned monies can be backed by resources, but then why Ruble drop like crazy in Yeltsen time?

Reason, Yeltsen conspire with the Oligarch to plunder the nation dry. The state has no control of resources.

This is the reason natural resources should either not be in private hands, or should be control by SOE or quasi SOE.

 

[Indos]

What’s about palm oil from Indonesia?
People pay in Palmrupiad?

Palm Oil strategic reserves must start being built....

 

[Song Hong]

Palm Oil strategic reserves must start being built....

Indonesia can demand payment of Palm Oil in Rupiah. No one dares to do it because you see US bomb drop from sky, Reason is Indonesia is a very big player and all other oil such as olive oil, soy oil cannot match the omnipresence and value of palm oil.

People will BUY.

 

[Beast]

This is classic speculation.

Dethroning King Dollar Won’t Be an Easy Feat

There is no alternative to the world’s reserve currency despite any concern or wishful thinking to the contrary.

www.bloomberg.com

Self delusion article. Yuan can replace the dollar. China is world factory. You can use Yuan to get China products. And dont give the excuse, nobody wants Chinese products. That is just some childish excuse.