Do you think that dollar with soon stop being the main currency. Why or why not?

[Marianna546]

Updates

+1 y

Will **

[laurieluvsit]

It is obvious that you are around some very wise people Ms Marianna.

Yes, paper fiat currency will be a thing of the past sooner than later.

Some of it should be exchanged for Gold, Silver or Crypto currency soon.

[Flower7]

Possibly, because business are always complaining about there being a coin shortage.

[EnglishEuropean]

That is buy design. Banks don't like you using cash.

[EnglishEuropean]

*by design

[Flower7]

I’m not talking about banks, I’m talking about stores.

[EnglishEuropean]

Sure but stores have to get their cash from the bank, right?

[Smoke-n-Growls]

Maybe?

The US Financial Industry has been running amok for decades with no controls, and 80% of all USD in circulation has been printed since 2020 - hyperinflation is inevitable.

But the problem is that there's no other currency set up to be pegged as the world's currency.

I'm not sure exactly what will happen, but I think it's possible I'll see a major economic shift in my lifetime.

[Guy__]

It can't be for much longer.
It will change one way or another, pretty sure that we'll live to see it.

I'm sorry to see that you were annoyed a week ago already. You were not the only one, in the one month I was on gag I saw real bad bullying a few times.

Also do you speak other languages? I like your accent.

[tartaarsaus]

There is no feasible alternative, as a) the US economy is the strongest in the world and b) financial flows are generally centered within the US (even by foreign companies).


The Euro is the only one that could feasible make up some ground. But compared with the US, the financial system in the EU is relatively poorly developed, which means it cannot catch up in that area in a short time period.


Beyond that, China and Japan are no match anyway. Japan is too small and China is too closed off.

[tartaarsaus]

What is critical here as well is that the US dollar is stable enough for countries elsewhere to adopt it. The Euro is not much more stable. So that incentive to switch also doesn’t exist

[andreasderjuengere]

I do not care. For myself it never has BEEN ''the main currency''.
In all my life I got along very well without seeing any ''dollars'' - only once - and that felt weird to me.
Personally, I insist on payments in ''my'' local currency. If there's any who-haah about getting there: that's not my job, or responsibility.
The world's ''money system'' (and network) in general is a perversion in my own eyes.

[Anonymous]

It'll never happen. The US is still the #1 economy in the world and the other top economies in the world depend on a strong dollar. China, Japan, Germany. ... they couldn't take over the dollar because their economies can't survive without it. That's why a slow economy in the US affects the entire world.

[Soteris]

That is not really how any of this works. Other countries only keep foreign currency for two reasons. First for trade since its normal to use the foreign currency to buy their products and secondly as a reserve in case something happens with your currency or the other currency is good for trading with other countries.

Point is, unless USA is a major part of the trade with said country you dont actually need to keep US dollars. This is becoming more relevant as countries are making their own local trading groups like the EU and similar projects around the world. Furthermore USA is on a nationalist spree and becoming more and more insular AKA they tend to prioritize buying and selling within USA itself so you are losing out of foreign trade.

Lastly we have a number of important changes in the world. For example USA has made sure that oil is traded in US dollar which has boosted the US economy for a very long time but not only are countries beginning to trade oil in other currencies but oil itself is going to lose its importance with the introduction of green energy which is going to hit the US monopoly hard and mean foreign countries has much less reasons to carry US dollars.

Day by day USA is losing its status as a superpower and its not because China is going to surpass it but because USA is losing its advantage against the rest of the world. Remember, USA might be powerful but you are also isolated meaning all your power and influence has less of an effect over here than a comparable nation would have.

[Opinion Owner]

@Soteris less than 8% of our economy is from oil exports. The fact is the largest economies in the world are dependent on a strong US dollar and would never let it fail. By the way, the US economy will only hurt when it comes to green energy. There is a reason China builds coal plants like they're going out of style! There is also a reason the looney left doesn't even talk about nuclear power.

[Soteris]

The oil exports is not YOU exporting oil but EVERYONE trading oil with ANYONE else. The program is called the "Petrodollar" and is basically OPEC nations doing trade with oil in US dollars. Since everyone needs oil everyone therefore needs dollars and it is why up to now the US dollar basically can't collapse. That is changing however.

As for why China is building coal power plants? They straight up have an energy crisis right now and their economy has ground to a halt because they can't run their factories. Why? Because Australia stopped selling coal to them and since Chinese coal power plants were designed for Australian coal they can't run on Chinese coal (different purity). As such they are in a desperate situation of trying to build the easiest power generation possible AKA coal which they got good access to since China is rich in coal.

But you are wrong. China is not building coal power plants like they are going out of style. Not really. Why? Because the Chinese government made a degree that they are moving over to green energy and when the Chinese government says something that becomes divine law. China is building as many as they can but the government will burn the country to the ground to meet the green energy deadlines.

For all the chaos in China regarding coal the bigger problem for them is that they are soon now allowed to use it at all. But that is a whole other conversation.

As for Nuclear power? Why dont the left push it? We are already far too late to act against climate change and constructing new nuclear power plants takes around 10 years each. If you started to build them 50 years ago then that would be fine but right now its simply too little, too late. You need a solution you can slap together NOW, not in decades.

[Opinion Owner]

@Soteris the main reason the dollar won't collapse is because the trading partners, like China and Japan, won't let it. Jesus Christ, they actually devalue their own currency against the dollar to help their own economy and to bolster the dollar! They have trillions invested in the dollar.

[Soteris]

Nothing you said there is correct. First of all USAs most important trading partners is Canada and Mexico, not China and Japan. Proximity vitally important in trade. Secondly, they could only ever support a fraction of the current US dollar through trade, it is nothing that would protect the dollar from collapsing even today considering the strain the US economy is under.

Also there is major benefits of having a weak currency which is why China and Japan intentionally lowered theirs. Having a weak currency is really good for countries that exports a lot such as what Japan used to do and what China is doing. It is not a sacrifice but rather its how an exporting nations economy should look like as opposed to an importing country which wants to keep their currency high.

[Opinion Owner]

@Soteris can you tell me what trading partner is more important than the US to China and Japan? I never said they were important to the US. I remember when there was talk of the Euro taking over the dollar! Lmao the dollar is in absolute no danger. The US is to prevalent in the world economy. I know it's hard for you to accept but don't sweat it.

[Soteris]

Japans biggest trading partner is China and while Chinas biggest is indeed USA I fail to see why this would matter, especially since China does have the option to shift trade away from USA if and when they want to. Its sort of the whole idea behind their "Belt and road" mega project.

Again, the support to the dollar that your trading partners provide is such a small part of what makes the dollar so powerful currently that if you are relying on that to save you then you are already far too late.

As for the Euro? It has established itself as quite the reliable alternative to the dollar. Quite frankly I value it higher simply because it is more inherently stable because no single country has the ability to control it unlike how USA can just print more dollars if and when they want.

As for USA's place in the world economy? Its not as solid as you appear to think. You have eroded it quite a lot these past couple of decades when you fell behind in green technology, made an enemy out of everyone, decided to become an insulated nationalistic economy under the banner of "Make America great again" etc.. An insulated USA can't dominate the world markets after all.

But you are missing the big picture here. Remember how I said that Japans biggest trading partner is China and USA's biggest trading partners is Mexico and Canada? Why is that? Its because they are closer. And what is USA? Pretty far away from everyone else. USA is and will always play with a handicap on the world markets.

USA can never compete with the EU in Europe and you can't compete with China in Asia. If and when Africa gets its shit together and forms their own form of EU then they will dominate African trade too etc.. The longer this goes on the more USA is going to become a backwater country unless you do something drastic.

[Opinion Owner]

@Soteris the US is falling behind economically because green energy! Green energy can't compete with oil. Like I said, that's why China continues to build coal plants. They are the ones that will reap the benefits of us going green, while they continue to burn coal and oil. You definitely do have a leftist view point on green energy. That is one of the big things that is tanking our economy and Europes. How's the Euro doing against the dollar? Again, the dollar is in no danger of crashing. And China is still far behind the US but will eventually catch up with the people this country elects. One of the main reasons? A push for green energy!

[Soteris]

Ahahaha. Laughable. The one who is making the biggest investments into green energy today is China. Why? Because its blindingly obvious that it is the technology of the future and China wants to get ahead of the curve on this so that it will be USA that has to crawl on their hands and knees to them for the privilege of being screwed over buying superior Chinese solar panels and stuff.

As for how the Euro is doing? Just fine actually. Not that you can divine too much useful understanding of the underlying reality of a currency by looking at its value, even over time. Currencies are artificial, as in we are very much in control of their value at all times. The decision of a currency going up or down in value is entirely in the hands of their governments, at least until things start going very very wrong.

This is sort of what I have been telling you. The protections for the value of the dollar is falling apart. The dollar is becoming more vulnerable as time goes by and I predict its going to crash at some point simply because people like you are in charge who simply think the dollar is invulnerable when its currently at its weakest in modern history.

[Anonymous]

I think it is unlikely while the petrodollar status exists.

Of course if the petrodollar status were to end, wondering which currency was going to be the new reserve currency would be the last thing you would care about.

Lets hope that its just bluster and an effort to implement the madman strategy but Im pretty sure the Americans would burn the world before losing their throne.

[ChrisMaster69]

No it will not, it’s linked to various global standards.

the recent loses with Crypto shows how insanely volatile it is.

It could never be used to be the ‘currency’ standard for a country.

A number of countries around the world use their own Dollar and the US dollar is firmly backed up by its gold reserve.

[FunkyMonkee]

I'm amazed it's still being used!! It's been worth less than Monopoly money for at least the past couple years. I remember at least 10 years ago, a dollar was only worth 4 cents! Thanks to Joe, it's GOTTA be in the negatives, by now!! It's nothing more that pretty paper, anymore. They should be paying you to take it out of the bank!

[Wade12345]

1) If dummycrats keep inflating the dollar, it will no longer be worth owning.
2) China's real GDP is about 5 times bigger than the U. S. The way capitalists count GDP under-values a communist nation's worth much of the time. I've done currency exchange research, and the real cost of living is the same in China as it is in the U. S. The Difference is they have 4.5 times the population as the U. S.

[lightbulb27]

nearterm no as there's no viable alternative, eventually change. usually changes upon major conflict.

I doubt any country thought they'd lose the reserve currency. It is't by choice.

[WhitneySnow]

I don’t think so just cause the US is such a powerful country in economic terms but I don’t know that much about economics so I’m not 100% sure

[TheMajesticKing777]

No cause with the inflation, dollars are all we are gonna have, if anything they will become more common than they already are

[OldWorldOrder]

Yes. Absolutely.

Because the military hegemony that has been propping it up for half a century is crumbling, and a new international economic framework is being built by nations who are walking away from America and partnering with the East.

[NamerOfStars]

No, if only because there's nothing poised to replace it. Nothing that could easily extricahe itself from the current dollar-centered economy, either.

[888theGreat]

Already happening. China, India, and Russia , plus Saudi Arabia are starting their own trade currency.

Then National Debt is critical

[Wise4myage]

I've heard that, but who knows if its true or when it will happen.

[Waldoe]

it is always possible, but I do not think it is likely.

[Sixgunsound]

Once the Petro Yuan happens we’re screwed. It’s already in progress.

[jshm2]

It Isn't

Gold, oil and crypto as well as the Rubel and Yuan and others are flitting it away.

[Anonymous]

Almost certainly especially with that incompetent traitor in office

[DWornock]

That depends on the definition of soon. All paper or other fiat currencies become worthless and the dollar will not be the exception.

[SpaceGalaxy]

No, every few years, they come up with this garbage that the Dollar is sinking or that it won't be the main currency world-wide, or that it is getting weak, and as you can see, it always has been!

[Andres77]

I think the goal is to have a one-world currency.
Not soon though.

[Andres77]

@PrettyPriya
Good morning.
There is a pink anon with two accounts starting to bully the OP.

[PrettyPriya]

I now see this. The poster was in contact with me. Thanks.

[Creampiekarl420]

Im ready to start using Woolongs

[007kingifrit]

no, there has to be something to replace it with. and no other currency is trusted or circulated

[LimitedBenefits101]

We are the most power nation in the world so no, i know a lot of non American countries want our downfall but nope ain't gonna happen.

[urpapi69]

That won't happen. Because USA is a very powerful country. It's not the USD that matters. It's USA's army.

[Anonymous]

Not as long as the United States remains the world's lone superpower.

[motownplayer2000]

Probably. Government would love that

[Aerissa_Jade]

Not really, at least not any time soon.

[EnglishEuropean]

It's hard to see an obvious replacement.

[Preeti161101]

Looking to hard

[exitseven]

It will be the Peso.

[Anonymous]

Of course it will americans are crazy