The End of an era the US dollar will die a peaceful death starting from this year to max 2-3 yrs as Brics Currency is ready to take center-stage

[Hamartia Antidote]

Yay for another dollar demise thread…

 

[dbc]

BRICS can't replace US Dollar as there are virtually no backer in BRICS nations, any common currency they use will have to seriously backed by RMB, which you can ask whether or not China will go into debt to just do that (That's the reason why US is in debt by the way)

Anything to replace USD as dominant currency is going to need EU onboard in the next few decade, because even if US is below 50%, they will still dominate as long as no one can touch that level, and currently no one can do that without seriously hampering their own financial institution and monetary policy.

It's more or less a daydream for probably next 2 to 3 decade, let alone 2 to 3 years.

Meanwhile Chinese businesses are hoarding USD despite interest rate cuts and the Russians are anxious to dump RMB and INR but they can’t since neither is convertible.

 

[jamal18]

The US dollar is going thru inflation and they had to print alot of money also. The Dollar is tired and will get changed on the right time.

Heck even France wants to join Brics they realize that the US dollar and even Euro is gonna sink and that Brics currency is the future

France wants to join as the West's 'inside man'.

 

[Titanium100]

BRICS can't replace US Dollar as there are virtually no backer in BRICS nations, any common currency they use will have to seriously backed by RMB, which you can ask whether or not China will go into debt to just do that (That's the reason why US is in debt by the way)

Anything to replace USD as dominant currency is going to need EU onboard in the next few decade, because even if US is below 50%, they will still dominate as long as no one can touch that level, and currently no one can do that without seriously hampering their own financial institution and monetary policy.

It's more or less a daydream for probably next 2 to 3 decade, let alone 2 to 3 years.

Alot of people like you convincing yourself that it will survive or nothing is happening. They are already trading without Dollars hence the rolling out the new currency is just a formality now.

EU? Do they have minerals and natural resources if not they are not the kingmakers? True wealth always belongs to he who has the minerals and natural resources and EU has none of these.

The EU is not the worlds manufacturing hub anymore including they don't have natural resources such as gas and oil plus metals.. Including they are not even fruit sellers? They don't contribute to ''TRUE WEALTH'' since they are an afterthought will play to the tones of others

 

[Titanium100]

for probably next 2 to 3 decade, let alone 2 to 3 years.

You are one of the greatest make believe posters first believing EU has anything to offer to even warrant a say and now this. Once they roll it out it will basically be over and the remaining years it will spend in coma

 

[Tom-tom]

Alot of people like you convincing yourself that it will survive or nothing is happening. They are already trading without Dollars hence the rolling out the new currency is just a formality now.

EU? Do they have minerals and natural resources if not they are not the kingmakers? True wealth always belongs to he who has the minerals and natural resources and EU has none of these.

The EU is not the worlds manufacturing hub anymore including they don't have natural resources such as gas and oil plus metals.. Including they are not even fruit sellers? They don't contribute to ''TRUE WEALTH'' since they are an afterthought will play to the tones of others

Inherited wealth " natural resources " is very important. Created and value added wealth is 10 fold. I agree with you % bro.

 

[jhungary]

You are one of the greatest make believe posters first believing EU has anything to offer to even warrant a say and now this. Once they roll it out it will basically be over and the remaining years it will spend in coma

Alot of people like you convincing yourself that it will survive or nothing is happening. They are already trading without Dollars hence the rolling out the new currency is just a formality now.

EU? Do they have minerals and natural resources if not they are not the kingmakers? True wealth always belongs to he who has the minerals and natural resources and EU has none of these.

The EU is not the worlds manufacturing hub anymore including they don't have natural resources such as gas and oil plus metals.. Including they are not even fruit sellers? They don't contribute to ''TRUE WEALTH'' since they are an afterthought will play to the tones of others

Well, you are the one that post something about USD is dying and being replaced by BRIC currency in the next 2 or 3 years and you are telling me I am make believe?? Where do you have your economic degree? King of Wishful thinking College?

I wonder how much do you know about currency? You do know every type of currency is going to be back by an economy, because that is how we trust said value of currency. And then look at the economic deposition of BRICS. Becuase economic deposition dictate how much value you can support with your currency

China GDP - 18.1 Trillion
Brazil GDP - 1.8 Trillion
Russian GDP - 1.7 Trillion
India GDP - 3.1 Trillion
South Africa GDP - 1.05 Trillion

And then you compare it to US GDP and EU GDP as a whole which is 27 trillion and 17 Trillion USD respectively. And you think yes, BRICS currency is going to topple USD even without the help of Eurozone. You don't just switch and replace, you need to come up with a economic strength that give your currency to be able to have every countries in the world to stack that currency as reserve.

Another thing being reserve needs to be readily tradable, technically you need to be able to trade within 3 business day, that is the main reason why China only have a tiny share of SDR basket because of the capital control over Chinese currency. What make you think BRICS will not be a controlled currency like China if and when they go online? Or do you think China is dumb enough to free float BRICS currency which have direct ties to RMB?

Another point being Manufacture base does not dictate currency market because it has less money changed hand, in fact, most economist see it as "Add on value" because for you to make something, you have to acquire the raw material to make that something and you sell the end product on a higher price, you basically add the value on top of the raw material production, a simpler example is you buy crude oil and refine it into petroleum and sell it, you basically are selling the different between the two price. Manufacture base economy NEVER dictate currency market, it does not do it to traditional industrial powerhouse like Germany and Japan, why do you think China will be different?

Dude.......if you have no knowledge on what you are talking about, either listen to people who do or don't talk about stuff that you don't know and then tell others off........

 

[CIA Mole]

bet against america with your money. put your money where your mouth is

 

[jhungary]

Meanwhile Chinese businesses are hoarding USD despite interest rate cuts and the Russians are anxious to dump RMB and INR but they can’t since neither is convertible.

Well, he told me I was make believe when he (assuming he is a he) believe BRICS, which currently have less than 5% share of SDR would topple USD which currently is 57% of SDR without Eurozone help in the next 3 years....

What else is new??

 

[jhungary]

Rumors of the Dollar's Death Are Greatly Exaggerated​

Talk that the greenback will soon lose its status as the world's main reserve currency has emerged. Don't believe it.

https://www.thestreet.com/investing/rumors-of-the-dollars-death-are-greatly-exaggerated

Just the logistic alone is already impossible

There are currently ~21 trillion worth of greenback circulating in the world, that represent the 57% SDR right, 8 trillion of actual currency and 13 trillion of line of credit. Let's say BRICS are to take 25% of that share, that's around 6 trillion dollars' worth currency value. Which mean BRICS as a whole would need to come up with that gap, ON TOP of their own currency that they are using currently. That's the exact amount of tradable RMB.

So, even for China, the biggest of the BRICS, If they were to raise that amount, that would be equate to doubling their own currency circulation. That's 100% inflation in value...... and then don't forget it's just for taking 25% of USD out which even if you can do it, the share is still about 40/15 (USD/BRICS) you aren't destroying USD in this sense.

But yes, it can be done in their mind....

 

[CIA Mole]

Just the logistic alone is already impossible

There are currently ~21 trillion worth of greenback circulating in the world, that represent the 57% SDR right, 8 trillion of actual currency and 13 trillion of line of credit. Let's say BRICS are to take 25% of that share, that's around 6 trillion dollars' worth currency value. Which mean BRICS as a whole would need to come up with that gap, ON TOP of their own currency that they are using currently. That's the exact amount of tradable RMB.

So, even for China, the biggest of the BRICS, If they were to raise that amount, that would be equate to doubling their own currency circulation. That's 100% inflation in value...... and then don't forget it's just for taking 25% of USD out which even if you can do it, the share is still about 40/15 (USD/BRICS) you aren't destroying USD in this sense.

But yes, it can be done in their mind....

the only way they can make RMB a "reserve" currency is if it's pegged to dollar and freely exchangeable to dollar/euro/jpy etc... from china's forex reserves

everyone holding RMB will want to switch to USD

this puts further down pressure on RMB



under xi's terror ideology there's no final destination for RMB like USD with American stocks/real estate/education/bonds/oil

RMB is relatively worthless for foreigners

 

[Titanium100]

Well, you are the one that post something about USD is dying and being replaced by BRIC currency in the next 2 or 3 years and you are telling me I am make believe?? Where do you have your economic degree? King of Wishful thinking College?

I wonder how much do you know about currency? You do know every type of currency is going to be back by an economy, because that is how we trust said value of currency. And then look at the economic deposition of BRICS. Becuase economic deposition dictate how much value you can support with your currency

China GDP - 18.1 Trillion
Brazil GDP - 1.8 Trillion
Russian GDP - 1.7 Trillion
India GDP - 3.1 Trillion
South Africa GDP - 1.05 Trillion

And then you compare it to US GDP and EU GDP as a whole which is 27 trillion and 17 Trillion USD respectively. And you think yes, BRICS currency is going to topple USD even without the help of Eurozone. You don't just switch and replace, you need to come up with a economic strength that give your currency to be able to have every countries in the world to stack that currency as reserve.

Another thing being reserve needs to be readily tradable, technically you need to be able to trade within 3 business day, that is the main reason why China only have a tiny share of SDR basket because of the capital control over Chinese currency. What make you think BRICS will not be a controlled currency like China if and when they go online? Or do you think China is dumb enough to free float BRICS currency which have direct ties to RMB?

Another point being Manufacture base does not dictate currency market because it has less money changed hand, in fact, most economist see it as "Add on value" because for you to make something, you have to acquire the raw material to make that something and you sell the end product on a higher price, you basically add the value on top of the raw material production, a simpler example is you buy crude oil and refine it into petroleum and sell it, you basically are selling the different between the two price. Manufacture base economy NEVER dictate currency market, it does not do it to traditional industrial powerhouse like Germany and Japan, why do you think China will be different?

Dude.......if you have no knowledge on what you are talking about, either listen to people who do or don't talk about stuff that you don't know and then tell others off........

As I said previously your posts are entirely make believe posts..

Here let me show you..

The US, Canada and Australia have natural minerals, resources and outside of them the EU has no say in this..

You gathered them combined with 27t but that is not where the cash lays. Add the whole Eurasian continent outside of EU into this and you will realize. The EU or the west in general doesn't hold much to light a candle. Eurasia could be at 60t combined minus EU..

EU doesn't have natural resources, minerals including doesn't have manfacturing any longer that is of need because they have been replaced in that department..

Cash FIAT printed papers is irrelevant but what is more relevant and who can control the economy is the one with the minerals, Manufacturing and resources if Eurasian contiennt changes currency there is nothing EU can do but join it because they don't have leverage to simply dictate anything..

No Grains, Oil, minerals or fruits or other food products? EU can do nothing for the Eurasian continent but just a liability. If you can't give me these things then there is nothing you can give me and you hold no leverage of value outside of fiat paper like US dollar.. The US has minerals and resources but it is entirely for local consumption while the EU has nothing to offer of value just a consumer market..

The EU is expandables libility that can't shift any balance should the rest of Eurasia decide to change Currency they will immediately join it to avoid sinking to poverty but they hold certainly no card or leverage here because they simply have nothing to offer the other way around..

China is now the main feeder manufacturing hub add that with OPEC+ which is lead by Saudi Arabia plus Russian grains + Asean + Indians population including the remaining of the Eurasian continent.. the EU holds nothing of value while they are consumer entirely with no production value of anything relevant or necessary for these in the Eurasian continent..

EU: Can't feed Eurasia, Nor can give them resources or minerals, doesn't even produce rare fruits that they could have sold absolutely Nada.. Zero leverage

 

[jhungary]

As I said previously your posts are entirely make believe posts..

Here let me show you..

The US, Canada and Australia have natural minerals, resources and outside of them the EU has no say in this..

You gathered them combined with 27t but that is not where the cash lays. Add the whole Eurasian continent outside of EU into this and you will realize. The EU or the west in general doesn't hold much to light a candle. Eurasia could be at 60t combined minus EU..

EU doesn't have natural resources, minerals including doesn't have manfacturing any longer that is of need because they have been replaced in that department..

Cash is irrelevant but what is more irrelevant and who can control the economy is the one with the minerals and resources if Eurasian contiennt changes currency there is nothing EU can do but join it because they don't have leverage to simply dictate anything..

No Grains, Oil, minerals or fruits or other food products? You do nothing for the Eurasian continent but just a liability. If you can't give me these things then there is nothing you can give me and you hold no leverage of value outside of fiat paper like US dollar.. The US has minerals and resources but it is entirely for local consumption

The highlight in red is the flaw of your argument

For you, people put a certain amount of foreign currency in their reserve bank is because they have a lot of natural minerals. It's not because of their countries monetary policy (which mean stable currency) not because of their economy base (and economy based is not just about natural resource)

If by what you said, then SDR right should be favorable to African nation, because they have abundant natural resource. But the fact is not. And you wonder why?

It's because of a single reason. "There are only finite amount of resource" which mean it can NEVER able to back a currency, becuase do tell me what will happen if you mine out your natural resource? Or are you thinking somehow Crude Oil, Tin, Zinc, Iron Mine or whatever can regenerate over time?

US is the top dog in currency is not because of its natural resource, US is the top dog because USD is the most stable currency on earth, you trust the process that will not run out of the currency as a resource, that is due to law and monetary policy, not because of the number.

On the other hand, you have completely failed to understand how USD can be replaced in world currency status. There are only 2 ways you can dop that.

1.) Buying other currency more
2.) Buying USD less

For number 1 to happen, you will need to have to come up with the short, which mean whatever amount of currency you buy to replace the same amount of USD you would otherwise brought. Which mean that whatever currency would have to come up with that gap, again, at 25% strength, you are talking about 6 tillion dollars worth of currency, good luck with that.

For number 2 to happen, US had to have a very weak economy and more controlling monetary policy so people wanted to buy less USD. If that happen, then forget about USD being dominant, because that can only mean US is at war/natural disaster and that war/natural disaster ravage that ravage US economy enough not to be able to sustain their economy. If that case, it would mostly be a thermonuclear war that destroy most part of US, and if this do happen in the next 2 or 3 years, i think USD would probably be the least in your mind if you are still alive.

I don't like to say people are wrong, but with all due respect, YOU ARE WRONG.

 

[Titanium100]

The highlight in red is the flaw of your argument

For you, people put a certain amount of foreign currency in their reserve bank is because they have a lot of natural minerals. It's not because of their countries monetary policy (which mean stable currency) not because of their economy base (and economy based is not just about natural resource)

If by what you said, then SDR right should be favorable to African nation, because they have abundant natural resource. But the fact is not. And you wonder why?

It's because of a single reason. "There are only finite amount of resource" which mean it can NEVER able to back a currency, becuase do tell me what will happen if you mine out your natural resource? Or are you thinking somehow Crude Oil, Tin, Zinc, Iron Mine or whatever can regenerate over time?

US is the top dog in currency is not because of its natural resource, US is the top dog because USD is the most stable currency on earth, you trust the process that will not run out of the currency as a resource, that is due to law and monetary policy, not because of the number.

On the other hand, you have completely failed to understand how USD can be replaced in world currency status. There are only 2 ways you can dop that.

1.) Buying other currency more
2.) Buying USD less

For number 1 to happen, you will need to have to come up with the short, which mean whatever amount of currency you buy to replace the same amount of USD you would otherwise brought. Which mean that whatever currency would have to come up with that gap, again, at 25% strength, you are talking about 6 tillion dollars worth of currency, good luck with that.

For number 2 to happen, US had to have a very weak economy and more controlling monetary policy so people wanted to buy less USD. If that happen, then forget about USD being dominant, because that can only mean US is at war/natural disaster and that war/natural disaster ravage that ravage US economy enough not to be able to sustain their economy. If that case, it would mostly be a thermonuclear war that destroy most part of US, and if this do happen in the next 2 or 3 years, i think USD would probably be the least in your mind if you are still alive.

I don't like to say people are wrong, but with all due respect, YOU ARE WRONG.

The US dollar is secure because it is backed by petro, gas, grains and everything else because people trust it but currently they will change it and trust other currencies and the US dollar can't do anything to compete with that. They are already trading in currencies outside of the USD but once they flip it that's basically it.

All the petroleum, gold and rare earth minerals including grains will be traded on Brics currency..

If you have nothing that is needed by humanity outside of a printed fiat Paper cash then you hold nothing of value that is leverage..

Lets assume you need spare parts you go to china for that and lets assume you need fruit you go else for that as well or grains you go to Brazil and elsewhere.

You don't feed me bro nor give me critical technology or communication material nada all that is coming from the far east.. Nor do you have minerals and resources! WHAT DO I NEED YOU FOR IS THE QUESTION..

 

[jhungary]

the only way they can make RMB a "reserve" currency is if it's pegged to dollar and freely exchangeable to dollar/euro/jpy etc... from china's forex reserves

everyone holding RMB will want to switch to USD

this puts further down pressure on RMB



under xi's terror ideology there's no final destination for RMB like USD with American stocks/real estate/education/bonds/oil

RMB is relatively worthless for foreigners

Kind of pointless if they peg RMB to USD tho....

RMB cannot be free floated now, if they do, they will probably incurred more debt than the USD in term of Debt/GDP ratio. Unless people decided to buy Chinese bond emasse.