Will The US Dollar Lose Reserve Currency Status?
- Thread starter Kool-Aid
- Start date
The Federal Chairman Jerome Powell said it himself. There's a possibility of more than 1 reserve currency in the world.
NordicSomali
VIP
I think stablecoins can challenge the dollar in the future. But still stablecoins have dollar backing.
Kool-Aid
VIP
Apparently they don't want to jump on the sanction bandwagon that western countries are on.
NordicSomali
VIP
The safety of US government bonds is a big reason why the dollar will be dominant for a long time. People buy bonds because they are safe. Right now people are buying lots of bonds because of recession risk, and that means lots of people are buying dollars.
And since the US government runs a deficit, lots of people will buy dollar for a long time.
Also, the New York Stock Exchange has many foreign companies listed. So the dollar gets extra boost.
Actually, the more you learn about finance the more you understand how the US controls the global economy. They can choke any nation if they wanted.
And since the US government runs a deficit, lots of people will buy dollar for a long time.
Also, the New York Stock Exchange has many foreign companies listed. So the dollar gets extra boost.
Actually, the more you learn about finance the more you understand how the US controls the global economy. They can choke any nation if they wanted.
That is just a weird claim to casually make without any backing like that.
India has a rivalry with Pakistan and China, yes. Quad is about countering China. Yes.
But India has an old relationship with Russia. Mentioning Quad is... okay, they're anti-China, sure- but that doesn't mean they're anti-Russia. Asking India to take sides against China is nothing. They're already against China. Asking India to turn against Russia and to make itself dependent on the US is totally different.
Another thing is- India just saw what happened in Afghanistan. I saw an Indian tv host say recently that the US is a very unreliable ally. If you look at South Vietnam, Afghanistan, Iran, Somoza regime in Nicaragua, etc.- being a US ally frankly is kind of scary. And look at Ukraine.
Another thing is- the West is really badly losing the Cold War. The West is losing in Africa. Obviously. The West is losing in Latin America (the international media isn't revealing this but it's the truth). The West is losing in Asia.
On top of that, the Modi government is supposed to be a hardcore nationalist regime. If you run as a hardline nationalist, people will expect you to do nationalist stuff. Cutting off an old relationship with Russia to please the West isn't very nationalist.
I don't think India will take a hard anti-US stance but India is not a puppet state and I think them trying to pressure India will just push them in a nationalist anti-Western response. This is already sort of what's happening with them. Their media has come out swinging against the West recently.
TekNiKo
Loyal To The One True Caliph (Hafidahullah)
These sanctions on Russia will be met with 50% of Europe energy being cut off. When the rolling blackouts and lack of heat coupled with record gas prices and inflation will totally cripple EU economy.Haye, mudane TekNiKo.
Dollar crash will ensue
Europe will switch to African gas and Iranian oil.
In the meantime, they’ll revert back to nuclear and coal power.
TekNiKo
Loyal To The One True Caliph (Hafidahullah)
Russians already turned off one pipeline of natural gas which accounts for 6% of EU natural gas. Imagine if they turn off more? EU imports 40% of natural gas from Russia.
Where will you get the infrastructure ready in time for African gas? Its simply not feasible.
Russia still needs that gas/oil money revenue, especially since they getting kicked out of Swift system, maybe in 5 years or so they can
Where do you think the EU gets the rest of its gas from?
Where do you think Spain, for example, gets its gas from.
