Good find. Either a hoax -or- their attempts are not very effective. There's no other fiat quite like the USD in terms of its ability to back its guarantees. People say it's backed by oil or gold- to an extent. The reality is it's backed by taxes which are paid in USD. Thus enormous cash flow is an effective guarantee against any would be rivals. Only real adversary is real money alternatives.
BRICers sink everyone that hitches their boat to them.
That's one of the key points of BRICS, is you are still not aware. To make countries who are in to finally get ZERO wealth and commodities nominated in any western currency.
West will be like - "Look at that loosers! They have no dollars! They are obviously bankrupt and defaulted!".
I'm perfectly OK with that. Better to have food, roof and energy than some dollars nobody needs.
As for yuan, rouble, rupee or other fiat currencies, of course they are globalist tools too, but at least you still could exchange them to some real things. Remind me, where I could exchange my last vintage 10 US dollar banknote to something really useful with "Made in USA" engraved on it (and really made in USA, by Americans, receiving salary in same dollars)? Or that banknote usefulness as a mean of exchange, tool for the trade, does not really exist anymore?
I can exchange a $10 note for "made in America" bag of potatoes.
Good for you. But I'm asking about what I could buy with $10. It will be very strange to buy american potatoes with all that logistics when I could buy local potatoes for roubles without any problems and much cheaper. $10 is useless for me today. So for billions of other people. Why anybody would want to keep something useless? Of coulse they will try to get rid of that useless thing.
Question is about international trade. There is no any sense to use some currency in international trade when currency issuer have nothing to sell for it and at any moment could just deny to accept them back at all.
Whose goods circulate on the international market? So whose currency should be used for trade? Simple as that.
There is no significant amount of USA goods on the market, so there is no any sense to trade in USD.
The Chinese might struggle a bit with that.
They would not. If they will need to, in the worst case they will just order half of their people to go grow potatoes, and that's all. But more probably they will exchange some microwaves and smartphones to potatoes. And they don't need dollars to do it anymore.
Neato.. so you think currency should be tied to cheap plastic junk? Quite the concept.
If the plastic junk took most part of international trade, then yes - plastic junk is most wanted commodity so most valuable. It is pefectly logical to tie the currency to the most wanted and valuable commodity.
I too could imagine they'll need to send their citizens to grow potatoes.
Then imagine that citizens will be perfectly happy to do that.
They went down that forced agricultural road before in the cultural revolution. Millions of people starved. 🤷♂️
And survived. And they have billions now. Meanwhile, how that ended eventually? Yes, China took over all world market of consumer goods. And modern people can't live a day without plastic junk. Guess, who have more power over that people?
Except two weeks ago was an entire year ago, and then a year before that.
It’s a hoax.
Good find. Either a hoax -or- their attempts are not very effective. There's no other fiat quite like the USD in terms of its ability to back its guarantees. People say it's backed by oil or gold- to an extent. The reality is it's backed by taxes which are paid in USD. Thus enormous cash flow is an effective guarantee against any would be rivals. Only real adversary is real money alternatives.
The USD is the cleanest dirty shirt
That's one of the key points of BRICS, is you are still not aware. To make countries who are in to finally get ZERO wealth and commodities nominated in any western currency.
West will be like - "Look at that loosers! They have no dollars! They are obviously bankrupt and defaulted!".
I'm perfectly OK with that. Better to have food, roof and energy than some dollars nobody needs.
As for yuan, rouble, rupee or other fiat currencies, of course they are globalist tools too, but at least you still could exchange them to some real things. Remind me, where I could exchange my last vintage 10 US dollar banknote to something really useful with "Made in USA" engraved on it (and really made in USA, by Americans, receiving salary in same dollars)? Or that banknote usefulness as a mean of exchange, tool for the trade, does not really exist anymore?
Good for you. But I'm asking about what I could buy with $10. It will be very strange to buy american potatoes with all that logistics when I could buy local potatoes for roubles without any problems and much cheaper. $10 is useless for me today. So for billions of other people. Why anybody would want to keep something useless? Of coulse they will try to get rid of that useless thing.
Question is about international trade. There is no any sense to use some currency in international trade when currency issuer have nothing to sell for it and at any moment could just deny to accept them back at all.
Whose goods circulate on the international market? So whose currency should be used for trade? Simple as that.
There is no significant amount of USA goods on the market, so there is no any sense to trade in USD.
They would not. If they will need to, in the worst case they will just order half of their people to go grow potatoes, and that's all. But more probably they will exchange some microwaves and smartphones to potatoes. And they don't need dollars to do it anymore.
If the plastic junk took most part of international trade, then yes - plastic junk is most wanted commodity so most valuable. It is pefectly logical to tie the currency to the most wanted and valuable commodity.
Then imagine that citizens will be perfectly happy to do that.
And survived. And they have billions now. Meanwhile, how that ended eventually? Yes, China took over all world market of consumer goods. And modern people can't live a day without plastic junk. Guess, who have more power over that people?
Well if our leaders weren't limp fish traitors this would be the type of thing you target with preemptive economic actions.
So; when/if this were to actually happen, who does everyone think will end up at the top of this mountain?