How many years will it be before the dollar loses its status as the worlds reserve currency to a BRICS currency or some other country's currency?

[Kelley1]

No world's reserve currency status lasts forever

It took 40 to 50 years for the British pound to lose it's status as the world's reserve currency to the US dollar

Updates

+1 y

To prosper, a bank must be honest and have a good reputation. If a bank steals a depositors money because he cheated on his wife or because he gambled; it really doesn't matter the reason. Depositors will look for a bank they can trust. The same with the USA. As the world reserve currency, they have a good think going. However, when the USA started weaponizing the dollar with sanctions and, even worse, stealing $300 billion of Russia's money, the world took notice and don't trust the USA.

Updates

+1 y

It is not easy to create a new world's reserve currency. People prefer to continue what they are used to doing. However, since the US dollar cannot be trusted, the BRICS are attempting to create another world's reserve currency to replace the US dollar. However, that is more difficult than it might seem. What is best for China many not be what is best for India and they will be reluctant to agree. Nevertheless, it is in their best interest to replace the US dollar so they might agree.

[Snakeyes7]

Even though this is going to make the lives of Americans miserable, I am sort of thankful BRICS became a thing because if it wasn't for that, the US would have rolled out its plan completely make us a cashless society in which the government has complete control over what we spend our own money on. They can't do it now that there would barely be anything to ban us from buying due to having the wrong opinions since our ability to buy luxury items like TVs will barely exist anymore and it is hard enough to do that already.

I hear that BRICS aren't as likely to roll something out like that. Despite the dictators who are a part of the original BRICS are anything but benevolent, allowing something like that to happen would cause wars since countries like India and China hate each other and are looking for every excuse to further conflict. It's odd that they are joining up in this manner to begin with.

[Syntosi]

Not in any foreseeable future. Arguably the US dollar could collapse if handled poorly but no other currency will rise up and replace it without exceptional, and I do mean truly exceptional circumstances. Least of all a BRICS currency since all of them are fractious and unreliable.

The Euro does have some merits but that is only because its based in countries with high stability but more importantly, because its a currency that is shared between many countries already it means that no one country by itself truly has the power to mess with it and thus making it more isolated from being corrupted or abused.

But as I said, the US dollar is going to remain the worlds reserve currency unless something cataclysmic happens to the US market or some lunatic decides to mess with it such as mass print it or whatever.

[Siri137]

The US dollar "could collapse if handled poorly". Umm... Guess what? It's being handled poorly, and countries (not just China and Russia, but others like Saudi Arabia) are already searching for a replacement.

[Syntosi]

@Siri137 Oh I agree that the US dollar is currently being handled poorly but at the same time it is telling that I dont think we are even close to reaching the actual breaking-point. Likewise having other countries scheme and attempt to replace the current world reserve currency is just normal and expected, it is not a sign that they are succeeding.

There simply is no other alternative that can credibly replace the US dollar. Some currencies can do it locally, such as the Euro for example, but to become the worlds reserve currency you need a broader acceptance that simply does not exist for anyone else. If 50 random countries start saving 50 random currencies then the US dollar is still the only one they can all still agree on.

[DrPepper12]

All correct!! 👏🏻👏🏻👏🏻

[Siri137]

No, it will not be years, because it's happening right now. Russia and China are ditching the dollar and buying up gold, in preparation for the introduction of their own common currency, and in the meantime they're trading using roubles and renminbi. Combined with India, South Africa, Brazil, and other nations wanting to join (like Saudi Arabia and Mexico - the US government won't like that), we'll see the continued decline of the evil Anglosphere. :)

[Kelley1]

It takes a long time. I common currency is unlikely because China, and India, perhaps Russia all want it to favor their country at the expense of the other countries.

[strateguy632]

you wish- ! lol

[DrPepper12]

That's fantasy. All of those disparate nations in the same currency union?

[Siri137]

@DrPepper12 The Europeans did it, so why not?

[Siri137]

@strateguy632 You're in denial, and no, I don't mean that river in Africa.

[DrPepper12]

It's geopoliticaly
Impossible! It simply won't and cannot happen with the nations you identified!

[ceren27]

Whichever country has the most worldwide power, still the U. S.

[Lynx122]

I don't know it'll still take a while. But the trend has been downwards for a long time now. At some point it's going to have consequences it's hard to tell when though. Right now the us debt to gdp ratio is around 130 % but they can still go up to 200% until things get really serious and they're in deep shit. But even then they might still find a way to wiggle out of it somehow. It depends on what decisions they make. If they keep taking on debt they can keep their economy going but screw the country in the long run. And if the debt gets too bad thee dollar will suffer a lot. If they start slowing down and try and get the debt and interest under control then that will be good but it will fuck the economy in the short to medium term. And it might hurt the dollar too. Or they could try some different approaches that I don't know about.

[Chazmatazz269]

It’s already happening. China has committed to stop backing US currency. As an economic rival in every conceivable way, that is a massive loss in the confidence of our currency. Now it’s just a matter of little time before even allies realize the longer they wait, the more they stand to lose. That’s the primary reason we’re involved in so many global conflicts. We can’t buy our way out of the hole we dug. So we’ve become this global enforcer, powerful and CHEAP. Like any other guido, it’s just a matter of time before we’re supplanted and the US burns.

[OtterMan68]

wake me when countries switch from the Dollar to the Renminbi.

[Siri137]

@OtterMan68 Are you awake now? It's already happening :)

[OtterMan68]

@Siri137 what countries are moving from the dollar to other countries' currency?

[Siri137]

@OtterMan68 Most of the developing world, and even some more advance economies. The BRICS have already been mentioned (that's Brazil, Russia, India, China and South Africa), but if you'd been paying attention for at least the last ten years, you'd know about this and I wouldn't have to tell you.
Here, watch this.
https://youtu.be/nG2kR2rb73E

[b_lova]

Depends on how aggressive America continues to be on the global stage. The dollar is propped up because of we are the primary global leader, if we start making decisions that deminish our reputation the value of the dollar will fall like a rock.

[Kelley1]

Instead of being an honest bank, the USA use the reserve status of the US dollar as a weapon, such as sanctions and recently stealing $300 billion of Russia's money. That put the world on notice that the USA cannot be trusted as bank. A bank can survive only if people trust putting their money in the bank. If a bank steals from depositors, people will not use that bank.

[b_lova]

I would agree had you not chosen criminal actions which backed the sanctions. In society criminals forfeit finances as a form of restitution for their actions. I could argue that this money should go to Ukraine for the actions Russia has taken against them.

Now if you have other instances where money has been taken unlawfully that would be a different story.

[Siri137]

B_lova, it's theft, pure and simple. It doesn't matter whether or not you think Ukraine "deserves it" (it doesn't).

[b_lova]

@Siri137 sorry but you are wrong. Read the fine print from any bank, American or otherwise, when you set up the contract to deposit your money and you will find that ultimately the government has control over that money if you are found to be breaking that governments laws.

[Kelley1]

Even if you were right, it is theft. And, obviously you are 100% in error; something you would know if you would spend time to research the facts instead of believing the lies of mainstream media.

[b_lova]

Since you have knowledge that I don't, I would love to hear the truth. Please enlighten me on the facts.

[Siri137]

No, it's not the government's money, or the bank's money, it's YOUR money.

[b_lova]

@Siri137 you might want to educate yourself on how money deposits work if you commit a crime. Governments legally can seize your money. You sign a legal contract stating so before you make deposits. So you forfeit that money legally due to your own bad behavior. It's not rocket science. And it's not like dictator Putin isn't hoarding massive wealth from his people anyway. I mean we are talking about a guy who assassinates anyone who crosses him politically and jails those who speak against his policies.

[b_lova]

@Kelley1 two updates yet and you haven't enlightened me yet on why I am wrong. I wonder why?

If you want to be trusted as a reputable source then you can not just deliver your opinion. You must back your claims by facts otherwise why should anyone listen to you. So far all we have been presented with is your opinions.

[Kelley1]

Your mind is made up and you ignore all facts that don't fit your preconceived false beliefs. Any attempt to educate you is a waste of my time.

[b_lova]

@Kelley1 Nice attempt to cop out of the request, but you don't know me nor do you know what I'm willing to do to be educated. My mind isn't made up as I am always seeking to learn and understand more about the things that interests me. It's on you moving forward if I am ignorant of the facts and continue my line of thinking because how difficult would it be to point me to your resources. I'm willing to do the reading.

Again in order to build a good reputation you must include the facts which back your claims/opinions, otherwise I'm am calling your BS now for what it is.

[Siri137]

B_Lova, I don't live in Russia, so Putin isn't stealing my money! :D
I live in Australia. I don't know how things are where you are, but where I live the money I have in my bank account is mine and no one else's.

[b_lova]

@Siri137 oh look Australia has sanctions against Russia too. As I said this is what governments do to criminals and if you watch the video from the second link they explained why. Please educate yourself so you don't look silly on the internet.

www.dfat.gov.au/.../notice-persons-and-entities-listed-under-autonomous-sanctions-regulations-2011-russia-and-ukraine-0

www.sbs.com.au/.../tgusxfcit

[Siri137]

Says the person who is looking silly on the internet.

[b_lova]

@Siri137 Good job.

I give you links to back up my argument and you respond with attempted put downs. You are really showing that you can win an argument there and that you are very mature. And you think I'm the one looking silly on the Internet.

[Drewtate]

America is richer now than it's ever been. Don't think on the state of the country or the economy or inflation or low wages but actual wealth funneled up to oliarch billionaires here in America from taxpayer money and from robbing the 3rd world.

What it would actually take for the US dollar to collapse or be replaced is some sort countrywide or worldwide natural disaster such as pandemics, solar flare, asteroid strike, volcanic winter, earthquakes, tidal waves, hurricanes etc Some disaster that's out of the US government's control that they cannot cope with. These things have collapsed empires and civilisations in the past.

[NaultD]

China had an opportunity but fucked it with it's one child policy. Then the leader Killing all political rivals untill there's only yes men with no potential replacement after he dies.

Same song and dance with every BRICS country. Killing all political rivals until you die and only idiot yes men are left.

There is a reason usa being a reality new country in the grand world of things is also one of the oldest constitution and current standing government.

[RingOfFire]

Depends on who is elected in the November election. If Biden and the Democrats retain the White House and Congressional control America is on its way off a financial cliff. This mob of Democrats is the most fiscally irresponsible in US history running up a record debt, with record out of control spending, waste, fraud and corruption. If they are not stopped, a financial catastrophe may be just around the corner.

[DrPepper12]

You couldn't find even ONE reputable source to back up that firehose if miis & dis information.

[OtterMan68]

what's on the horizon to replace it? The Euro? The Ruble? The Yen?

[Kelley1]

That, bitcoin, gold, or who knows. However, a world reserve currency going back to the 1200s seldom lasts more than 100 years. On that basis the dollar may last as the world's primary reserve currency for another 20 years. Perhaps not even that long since, because the USA uses the dollar as a weapon, and stole $300 of Russia's money, other countries realize the US cannot be trusted as bank.

[OtterMan68]

ask Argentina about BRICS. Also how many BRICS countries are willing to give up their currency for a common one about the other BRICS countries?

[Siri137]

Yes.

[noohair]

Years, it could happen at any time. It will be sudden with very little warning. The gold price will sky rocket and there will be no time to react. Have food and ammo.

[Siri137]

What would you need food and ammo for? It's not the end of civilisation you know. In fact, it's a new and peaceful beginning.

[jshm2]

It will probably be the Arab dinar or Chinese Yuan that takes over.

Reserve currencies require serious money and low debt. The USA has failed in both counts.

[strateguy632]

i predict 3 centuries like spain. until 2250 then we will switch to those "food machines" in star trek etc. and stop using money.

[strateguy632]

consider the euro has been around 20 years and it has not "caught on" to become popular as stable in fact in 2022 it fell significantly despite starting higher than the dollar i mean 1 euro was planned more than one dollar but is has fallen and in 2022 fell to same value as a dollar,
the Euro Keeps Falling so nobody wants it instead they prefer stable dollar over anything else even gold reserves.

[strateguy632]

and speaking of gold u. s. has the largest gold reserve so people will rely on that to use u. s. reserves even if they hate u. s. until some other country gets significantly more gold that u. s. which has most by far! we have FOUR times the gold as china and russia each! but they won't be buying gold as chinas economy has deflation and stagnation. also russia is struggling to send equipment to its war.

[strateguy632]

BRICS currency, those people, i mean leaders except india have a personality they would NEVER agree to use each other currency. imagine putin saying we shouuld all use ours! russian, but the others would not agree to use russian! instead of their own. and same for each putin would not agree if it was not russian money so most agree a new currency for brics is not an option..

[DextroShade]

It won't lose to BRICS because those countries are shady currency manipulators. It will probably lose to bitcoin or some other cryptocurrencey.

[bobby_bush_eater]

Probably longer than you think. Not because the USA is doing the right things but because everyone else is struggling just as bad if not worse. Especially BRICS

[abc3643]

About 1000 years.
Get off this subject. It's getting old.

[Telekinetic-Potato]

As soon as people aren't afraid of the CIA or our misses impact in their economies

[diversethought]

I was thinking if Trump got elected President while in prison, do you think he would fire the guards, the warden, basically everyone all the way to the White House? We need Trump back.

[Jennz6]

It’s already lost its status

[Kelley1]

Foreign Exchange Reserves:
The U. S. dollar is widely used as a store of value in official foreign exchange reserves. In 2022, it comprised 58% of disclosed global official foreign reserves, surpassing other currencies like the euro, Japanese yen, British pound, and Chinese renminbi.
Despite a decline from 71% in 2000, the dollar remains the dominant reserve currency.

International Trade and Loans:
About half of international trade is invoiced in dollars, highlighting its importance in global commerce.
Approximately half of all international loans and global debt securities are denominated in dollars.
In foreign exchange markets, where currencies are traded, dollars are involved in nearly 90% of all transactions.
crsreports.congress.gov/product/pdf/IF/IF11707

[OtterMan68]

what's your source for that?

[Sasquach]

What would cause the shift though? I mean it basically took a world war to cause the last major shift

[standardguy]

If the ucrainan war persists it won't take until end of this year.

[Twalli]

Whichever country has the most worldwide power, still the U. S.

[Twalli]

We used it for sanctions against Russia Russia because they attacked a neighbor with, at best, dubious provocation.

[DrPepper12]

By 2075 it will be 3. USD, RNB n Euro

[laly520]

very soon

[Nice222]

5-10 years.