US total net worth is now $137 trillion after Q1

[F-22Raptor]

Household Net Worth
The net worth of households and nonprofit organizations increased by $5.0 trillion to $136.9 trillion in the first quarter. The value of directly and indirectly held corporate equities increased by $3.2 trillion largely because of further gains in corporate equity prices. The value of real estate held by households increased by about $1.0 trillion. After four quarters of solid growth, household net worth is now about $19 trillion above its level at the end of 2019.


Real estate ($33.8 trillion) and directly and indirectly held corporate equities ($44.1 trillion) were among the largest components of household net worth. Household debt (seasonally adjusted) was $16.9 trillion.

https://www.federalreserve.gov/releases/z1/20210610/html/recent_developments.htm

 

[Viet]

that’s the result of massive dollars printing. The money goes to stocks and property markets. Same here in Germany.

 

[Aasimkhan]

What would be the shape of the graph if the de-facto world currency was not dollar ?

 

[KAL-EL]

What would be the shape of the graph if the de-facto world currency was not dollar ?

What if it was Mexican pesos?

 

[Mk-313]

What if it was Mexican pesos?

what if it’s Zimbabwean dollar?

 

[Aasimkhan]

what if it’s Zimbabwean dollar?

Whatever it may be but it is decided that days of PETRO DOLLAR are numbered

 

[Mk-313]

Whatever it may be but it is decided that days of PETRO DOLLAR are numbered

You know we’ve been hearing that since like the 1960s. . The dollars power does not come from petrol the annual transaction of petrol is only $200 billion/year So I’ll school you a little bit

1- dollars power come from the fact that all international transaction are settled in USD. Which means every country in the world would only take USD as payment for exports and imports
2- 80% of the dollars are held by other countries in foreign reserve
3- the international payment system SWIFT is based on the dollar

So to topple the dollar
1- everyone in the world must agree to an alternative currency that they will use for export:import at the same time
2- All the countries that hold the USD as reserve and own the USD as debt will need to discard it and voluntarily agree to losing all that money
3- A system next to SWIFT must be built and implemented, integrated in every bank of the world

The euro tried toppling the USD but since everyone at the same time did not agree to use euro to settle international payments it could not topple it

The BRICS countries tried to out in their own system against the SWIFT system in 2014 its been 7 years now and no one has adopted it

So you tell me are the dollar days really numbered

 

[Aasimkhan]

You know we’ve been hearing that since like the 1960s. . The dollars power does not come from petrol the annual transaction of petrol is only $200 billion/year So I’ll school you a little bit

1- dollars power come from the fact that all international transaction are settled in USD. Which means every country in the world would only take USD as payment for exports and imports
2- 80% of the dollars are held by other countries in foreign reserve
3- the international payment system SWIFT is based on the dollar

So to topple the dollar
1- everyone in the world must agree to an alternative currency that they will use for export:import at the same time
2- All the countries that hold the USD as reserve and own the USD as debt will need to discard it and voluntarily agree to losing all that money
3- A system next to SWIFT must be built and implemented, integrated in every bank of the world

The euro tried toppling the USD but since everyone at the same time did not agree to use euro to settle international payments it could not topple it

The BRICS countries tried to out in their own system against the SWIFT system in 2014 its been 7 years now and no one has adopted it

So you tell me are the dollar days really numbered

Bro I stand by my statement that days of Dollar are numbered because of following reasons :
1. This is no more 60s. USA today is a fraction of Super Power it used to be in the 60s. In 60 USD was backed by GOLD, today it is backed by NOTHING, its just a piece of paper without any commodity backing it.
2. Only reason for USD strength is the addiction of the world governments and world trade (including petrol).
3. Euro has not been able to destroy dollar but it has come up as an alternative but with the rise of China supplemented by USSR there is a new world order emerging. US will no more be the biggest economy of the world in 3-4 years time. Terms will be dictated by new bosses of world economy.
4. If a country decides to discard its reserves in USD this money will be CONVERTED not LOST as you imply.
5. SWIFT system will be replaced by Digital Yuan in due course of time.
6. Demise of USD will not be sudden, it will be slow but sure. All countries will not discard USD suddenly. Slowly and gradually this SHIFT will take place.
There are many other reasons also we can debate this on and on

 

[Mk-313]

Bro I stand by my statement that days of Dollar are numbered because of following reasons :
1. This is no more 60s. USA today is a fraction of Super Power it used to be in the 60s. In 60 USD was backed by GOLD, today it is backed by NOTHING, its just a piece of paper without any commodity backing it.
2. Only reason for USD strength is the addiction of the world governments and world trade (including petrol).
3. Euro has not been able to destroy dollar but it has come up as an alternative but with the rise of China supplemented by USSR there is a new world order emerging. US will no more be the biggest economy of the world in 3-4 years time. Terms will be dictated by new bosses of world economy.
4. If a country decides to discard its reserves in USD this money will be CONVERTED not LOST as you imply.
5. SWIFT system will be replaced by Digital Yuan in due course of time.
6. Demise of USD will not be sudden, it will be slow but sure. All countries will not discard USD suddenly. Slowly and gradually this SHIFT will take place.
There are many other reasons also we can debate this on and on

You can stand by your statement but you must have evidence to support your claim

.US is a much bigger power than it was in the 1960s it has bigger military, more bases, more technological advances and the now it has worlds acceptance as the reserve

1- the problem is entire world moved away from the gold standard. If you know anything about the commodity backed economies then you would know it ends in deflation. Which hinders employment and innovation
- Gold standard was good until there was more gold than the economies it was backing. Once industrialization hit and economies were growing more than we could mine gold. Then that leads to deflation

2- I don’t think you read my post properly. It’s not the “addiction” but the swift system we built that is integrated in every bank of the world that facilitates the importers/exporters to successfully settle transactions

3- the biggest economies do not dictate terms. During the time of British empire, US had a bigger economy than the British but British was still the rising power. nd you don’t need to be the biggest economy you need to be a developed and bigger.
When euro came out the combined economy of European Union was bigger than US that’s why everyone thought it would topple the dollar because the economies backing the euro was bigger thsn
China is still a developing economy. They must evade the middle income to become a developed economy and then their per capita gdp must be high enough that it’s economy is no longer depended on exports but it’s domestic consumption can take care of its economy


4- you don’t know what SWIFT is or how it works if u suggest a digital coin is in anyway relevant to it

you cannot debate me. Because you state a claim but fail to provide the evidence that supports your claim. Therefore there is no essence of debate. You need to learn how macro economics works. What constitutes a world power

 

[Hamartia Antidote]

Bro I stand by my statement that days of Dollar are numbered because of following reasons :
1. This is no more 60s. USA today is a fraction of Super Power it used to be in the 60s. In 60 USD was backed by GOLD, today it is backed by NOTHING, its just a piece of paper without any commodity backing it.
2. Only reason for USD strength is the addiction of the world governments and world trade (including petrol).
3. Euro has not been able to destroy dollar but it has come up as an alternative but with the rise of China supplemented by USSR there is a new world order emerging. US will no more be the biggest economy of the world in 3-4 years time. Terms will be dictated by new bosses of world economy.
4. If a country decides to discard its reserves in USD this money will be CONVERTED not LOST as you imply.
5. SWIFT system will be replaced by Digital Yuan in due course of time.
6. Demise of USD will not be sudden, it will be slow but sure. All countries will not discard USD suddenly. Slowly and gradually this SHIFT will take place.
There are many other reasons also we can debate this on and on

There is NO country in the world which backs their currency with gold.


The Petrodollar thing is a Myth perpetuated by people who don't know what they are talking about.

 

[Beast]

Over price USA.

 

[Mk-313]

Over price USA.

Now don’t tell me you’re gona make a knock off USA that is half the price ... LOLOLOLOL

 

[Muhammed45]

Countries fed up with US bully have to opt for Euro, Yuan, gold and national currencies. Russia is pioneering, Iran will join Russia after elections with new patriotic government. Even Europeans are turning to Chinese Yuan.
When you Return toxic dollar to its homeland, you can watch inflation in USA skyrockets. 2 trillion is already printed out of thin air in Biden admin which means 2 trillion increase in liquidity. Based upon the supply and demand rule prices would increase sharply. A simple calculation shows that prices in USA would automatically experience a sharp increase, now add to it the returning toxic dollar to homeland from around the world, dollar will get screwed.

 

[Mk-313]

Countries fed up with US bully have to opt for Euro, Yuan, gold and national currencies. Russia is pioneering, Iran will join Russia after elections with new patriotic government. Even Europeans are turning to Chinese Yuan.
When you Return toxic dollar to its homeland, you can watch inflation in USA skyrockets. 2 trillion is already printed out of thin air in Biden admin which means 2 trillion increase in liquidity. Based upon the supply and demand rule prices would increase sharply. A simple calculation shows that prices in USA would automatically experience a sharp increase, now add to it the returning toxic dollar to homeland from around the world, dollar will get screwed.

Yeah all of that is bullshit.
The $2 trillion isn’t flushed into economy its amounted as credit. It means other countries and domestic companies bought $2 trillion worth of treasury and gave $2 trillion as debt to US

And most of that 1/4 of that money is in China already in exchange for exports. So by that logic US traded something valuable with China in exchange for worthless dollars.....

How the **** does the Dollar get home?

3- Russia dumping a mere $110 billion is a drop. And mostly for show Russia traded dollar for euro but when they wana buy something they will again have to reconvert those euros back to dollar since all international trades are settled in dollars . I don’t think most of you even understand the function of a world reserve currency

 

[Aasimkhan]

There is NO country in the world which backs their currency with gold.


The Petrodollar thing is a Myth perpetuated by people who don't know what they are talking about.

You can stand by your statement but you must have evidence to support your claim

.US is a much bigger power than it was in the 1960s it has bigger military, more bases, more technological advances and the now it has worlds acceptance as the reserve

1- the problem is entire world moved away from the gold standard. If you know anything about the commodity backed economies then you would know it ends in deflation. Which hinders employment and innovation
- Gold standard was good until there was more gold than the economies it was backing. Once industrialization hit and economies were growing more than we could mine gold. Then that leads to deflation

2- I don’t think you read my post properly. It’s not the “addiction” but the swift system we built that is integrated in every bank of the world that facilitates the importers/exporters to successfully settle transactions

3- the biggest economies do not dictate terms. During the time of British empire, US had a bigger economy than the British but British was still the rising power. nd you don’t need to be the biggest economy you need to be a developed and bigger.
When euro came out the combined economy of European Union was bigger than US that’s why everyone thought it would topple the dollar because the economies backing the euro was bigger thsn
China is still a developing economy. They must evade the middle income to become a developed economy and then their per capita gdp must be high enough that it’s economy is no longer depended on exports but it’s domestic consumption can take care of its economy


4- you don’t know what SWIFT is or how it works if u suggest a digital coin is in anyway relevant to it

you cannot debate me. Because you state a claim but fail to provide the evidence that supports your claim. Therefore there is no essence of debate. You need to learn how macro economics works. What constitutes a world power

Please stop fooling people around. US economy was backed by gold as late as 1973. This was the sole reason all the economies of the world switched to USD. Then the Greay Charles De Gaule of France demanded gold from USA for the USD it was holding but in a blatant show of shameless power Nixon.
In 1973, Nixon devalued the dollar even further, making an ounce of gold worth $42.16 As the dollar devalued, people sold their greenbacks for gold. By late 1973, Nixon decoupled the dollar from gold completely. The market quickly sent the price of the precious metal to $120 per ounce.17
Inflation was in the double digits. It ended the 100-year history of the gold standard.