Your crime in USA is nothing, here you cant go out after dark, youre putting your life at risk. [7], According to the IMF's Currency Composition of Official Foreign Exchange Reserves (COFER) survey the share of reserves held in U.S. dollars by central banks fell from 71 percent in 1999 to 59 percent in 2021. I love the one where people say America was built on immigration! North American countries Canada, the U.S., and Mexico round out the top six gold producers, collectively making up 16% of the global total. You need to get rid of the programs that govt is supporting for immigrants. The dollar collapse is a deliberate plan to force the starving masses into a digital dollar control grid. pic.twitter.com/JOLblXhhzQ, New Development Bank (@NDB_int) March 28, 2023. Countries in Southeast Asia are also de-dollarizing. A week after Xi Jinping visited Russia, China announced that it used yuan to buy liquefied natural gas (LNG) from the UAE. [39] Mutual trading between India and Russia is done mostly in rubles and rupees instead of dollars and euros. In addition, central banks (especially Russias and Chinas) have bought gold at the fastest pace since 1967 as countries move to diversify their reserves away from the dollar. Exactly you dont know because you fail to understand once one nuke is launched the rest of the world would follow suit and in the end 6-7 billion people are dead, and the ones who survive will likely die from radiation poisoning, and starvation. As per a Reuters report, Buenos Aires said that it aims to pay $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly imports will be paid in yuan. [9], In 2015, China launched CIPS, a payment system which offers clearing and settlement services for its participants in cross-border Renminbi payments and trade as an alternative to SWIFT. [72], On March 30, 2023, Deputy Chairman of the State Duma Alexander Babakov on the sidelines of the Russian-Indian Business Forum in New Delhi stated that the BRICS countries can create a new currency that will be backed not by gold but by real resources, including land and rare earth metals. However, taking a longer view, the fact that the value of the US dollar has been broadly unchanged, while the US dollars share of global reserves has declined, indicates that central banks have indeed been shifting gradually away from the US dollar. Prices just dropped on gold and silver. China's holdings of US sovereign debt dropped to $1.165 trillion in August, from $1.171 trillion in July, marking the third consecutive month of declines as the world's second-largest economy bolsters its national currency amid trade tensions with the US. A wheel barrow of money for a loaf of breadsame thing happened in Germany after ww2 . Image used for representational purposes/Freepik. Ranked: The Top 10 EV Battery Manufacturers, Visualizing Chinas Dominance in Rare Earth Metals, All the Worlds Metals and Minerals in One Visualization, All the Metals We Mined in One Visualization, How the Worlds Top Gold Mining Stocks Performed in 2020, Peak of supercycle from long-term trend (%), Trough of supercycle from long-term trend (%), Length of cycle from trough-to-trough (years). The thoughts that are put into the minds of men that are aware of what is occurring on trading floors all over the world is when? Russian State Duma Deputy Chairman Alexander Babakov says the new form of fiat will likely be backed by other assets including precious metals like gold. In the past, when this ratio reached such levels, commodity supercycles began. The top 20 currencies in use today are the US Dollar, Euro, British Pound, Japanese Yen, Chinese Yuan, Canadian Dollar, Australian Dollar, Swiss Franc, New Zealand Dollar. In general, commodity prices and equity valuations tend to have a low to negative correlation, making it rare to see the two moving in tandem in the same direction for any long period of time. Save my name, email, and website in this browser for the next time I comment. Most people just want to make a living and take care of their families in all countries! The king of currency, the dollar, is on shaky ground. It has been reported that in the first quarter of 2020 the share of the dollar in the bilateral trade between China and Russia fell below 50 percent for the first time. For several years, financial analysts, primarily those outside the mainstream of academia, have been warning that any day could be the black swan event that collapses the dollar, and ends U.S. hegemony as caretaker of the world's reserve currency. As a result, the dollar began to displace the pound sterling as the international reserve currency and the U.S. also became a significant recipient of wartime gold inflows. In line with the above notion, commodity prices and equity valuations have often been at odds with one another in past market cycles. As of April 25, gold prices were hovering around the $2,000 per ounce mark and nearing all-time highs. Beijing and Brazil have also dropped the dollar in bilateral trade. In a speech that Geopolitical Economy reported on in 2022, Dilma analyzed the US-China conflict as a rivalry of two systems, a struggle between neoliberalism and socialism. Countries Where the US Dollar is the Official Currency US Territory or Foreign Country Relationship with United States Geographic Location Population (2020) Gross Domestic Product (2020) . [56][57][58] In December 2022, Sri Lanka and Mauritius started using the rupee for international trade. This is a frontal challenge to the US-dominated International Monetary Fund (IMF), which emerged from the 1944 Bretton Woods Conference that established the dollar as the global reserve currency. [79][80] The governor of the Reserve Bank John Mangudya said that the gold coins will contain one troy ounce of 22-carat gold, and that trade could be carried out both locally and internationally.[80][81][82][83]. Just recently, Bangladesh became the 19th country to agree to bilateral trade in Indian rupees. Mapped: U.S. According to the same data, the system will be put into operation within a week. He argued that Indonesia needed to shield itself from geopolitical disruptions, citing the sanctions targeting Russias financial sector from the US, EU, and their allies over the conflict in Ukraine. [60][61] Also, the same month, Argentina and Brazil proposed a common currency for trade which is termed as Sur. [41][42] In 2011, Japan made an agreement with China to trade in national currencies. Get a grip you are an idiot. The US dollar is the most widely used currency around the world. [10], In March 2022, multiple reports claimed that Saudi Arabia was in talks with China about trading Saudi oil and gas to China in Chinese yuan instead of dollars. Sur combines the currency of Argentinas peso and Brazils real. Both countries, which are perceived as anti-US, are trading in their local currency with one another. Is there any hope for us at all? USA will not be an exception of that I have no doubt.. $32 trillion in dept. These countries and territories include Lebanon, Hong Kong, Saudi Arabia, Grenada, and Aruba. You should read the book by Brad Rigden, Bad Money. Sooklal says the list includes 13 countries that have formally asked to join and an additional six countries that have informally requested to be part of the alliance. Even countries in the African continent are dedollarising. This bank was created with the intention of bypassing the dollar, and allowing free trade to occur between nations without the need to trade for dollars first, as is currently the format under the petrodollar system. See: Two Weeks that Shook the Dollar (posted multiple times and in at least a dozen LinkedIn groups). The American Institute of Economic Research said this strategy is not foolproof. [54], In March 2022, India and Russia entered for a RupeeRuble Trade Arrangement. Although the blockchain teck has some intriguing facets, I dont think it is anywhere near the class of trust levels that Gold has had for centuries. At $3.2trn it dwarfs Japan, which comes in second place with $1.3trn. Dollar fast losing dominance as global reserve currency as rupee, yuan rise, De-dollarisation: Bangladesh dumps US currency, becomes 19th country to trade with India in rupees, Brazil 'parroting Russian and Chinese propaganda' on Ukraine, says White House, Argentina dumps US dollar for Chinese yuan: How nations are jumping on the de-dollarisation bandwagon. The UAE is selling China its gas in yuan, through a French company. There was a large supply of dollars around the world, making it difficult to back dollars with gold. Think! During the 1970s and early 1980s, for example, rising oil prices led to a significant decline in stock prices as higher energy costs hurt corporate profits. Many nations are now seeking financial alternatives, afraid that they could be the next target. Although the practice of gold mining has been around for thousands of years, its estimated that roughly 86% of all above-ground gold was extracted in the last 200 years. According to the World Gold Council, mined gold production is expected to increase in 2023 and could surpass the record set in 2018 (3,300 tonnes), led by the expansion of existing projects in North America. In this past one year, theres a growing trend of countries sidestepping the US dollar and choosing to use their own local currencies for bilateral trade. So what is the when? This scenario has been engineered for a deliberate collapse of the dollar fiat currency and an attempted forcing of everyone into a digital dollar system run by the banksters. Prime Minister Anwar Ibrahim met with Chinas Xi Jinping on 31 March and its reported that the two discussed plans to create an Asian Monetary Fund and weaken the US dollar hegemony. BRICS was formed back in 2006, and the original group did not include South Africa, which joined in 2010. [69] Lukoil, a state-owned company, had announced that it will find a replacement for the dollar. ASEAN is developing a cross-border digital payment system that would allow the use of local currencies in regional trade. It is important that our national currencies are increasingly used in bilateral trade, Putin said. In fact, the new BRICs bank will function both as a bank of international settlement, as well as a lender of last resort, eliminating the need for the BIS and IMF, which currently reside under dollar dominion. India has been slowly moving away from the dollar. . Why did you try sneaking into Canada and see how that works out for you? China, Russia, Brazil, India, ASEAN nations, Kenya, Saudi Arabia, and the UAE are now using local currencies in trade. The greenback has been facing competition for long. The U.S. Dollar may or may not lose some value to the rest of the world currencies but it will still remain in high demand as the U.S. is an autarky and can be 100% self-sufficient. Meantime, in the US, theres volatility in Banks, The Fed, and many financiers are in turmoil over high interest rates, the collapsing real estate markets, with trillions of $$ removed from stressful banks, and seeking for safe places, ie. Drugs from Nigeria . Indias very own Kumar Vivek, deputy commissioner at the ministry of finance, also said that there are challenges to overcome to move away from the dollar. Kenya is buying Persian Gulf oil with its own currency. like star treck where humans work for the betterment of science and evolution, nature etc. Kenya to start buying petroleum products with Kenyan shillings https://t.co/Q6HEcB4I6r, Peoples Gazette (@GazetteNGR) March 27, 2023. The list of the 23 countries which are creating new swap lines outside of the dollar include China, Russia, India, and surprisingly, Germany, France, and the United Kingdom. China and Russia in recent times have pushed more aggressively to unseat the dollar. Interestingly, Brazil and China trade in the yuan and it was just reported that the yuan had surpassed the euro to become Brazils second-largest international reserve currency after the US dollar. The relationship, however, is not always straightforward and can be affected by various other factors, such as global economic growth, supply and demand, inflation, and other market events. [28][29][30] In September 2022, Chairman of State Administration Council Min Aung Hlaing stated that they are planning to reduce US dollar reliance and to include trade in other Foreign currencies.
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