Anyone else tracking the growing # of countries leaving the US Dollar?

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    Jul 7, 2021
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    Attacking the U.S. dollar is an easy way to harm the U.S. No tanks, not missiles, just business transactions where the parties involved agree to use currency other than the dollar. A crashed dollar was my first bogeyman that prompted me to consider resource planning, aka prepping. It's happening, right now, albeit slower than I imagined. Without our ownership of the worlds currency, we can no longer use the financial systems we've created, unlimited debt allowed by unlimited money printing. I fear the U.S. response will be the same default response we've always used. War! Although, via our typical manipulative political style, we might be able to come out on equal footing with the rest of the world if we implement CBDC's. Great.
     

    Twangbanger

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    All kinds of people live in all kinds of countries that don't have the reserve currency. It doesn't move their standard of living back to the stone age. We will just be more like them. Taxes will go waaay up. Medicare will basically reduce to a socialized HC system that denies you care and lets you die in a hallway, just like England.

    I can't see that Wall Street will give a sh.t. They already live in a different world than us. Hell, the smarter critters are probably already hedging for this, and positioning to profit from it.

    Uncle Sam, on the other hand, will have to scale back his ambitions considerably. Our allies who aren't spending anything on their own defense, might want to consider picking up a new language, or two.
     

    Ingomike

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    I suspect all this buying of politicians, creating chaos, is all a part of the biggest currency manipulation every undertaken in the history of markets.

    Would an are collector hob-nob with the most notorious art thief in the world? Why would our politicians curry favor with George Soros? The most successful currency manipulator in the world that I suspect is on the verge of destroying the US financial system.

    Some of his past work..



     

    Ark

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    Seems China is achieving the impossible and brokering peace in the Middle East while America is nowhere to be found (except occupying and stealing Syria's oil). Embassies are reopening. These are two countries who have been fighting an ungodly bloody and destructive proxy war in Yemen, fueled by American weapons, for nearly a decade. Where was the American-led peace process? There wasn't one. We dumped weapons into the war, then got a weak stomach and tried to yank them back from the Saudis. Now they've abandoned us for a more stable and sensible partner, having finally tired of American fecklessness and pendulum-swinging.

    We're watching a damn break. First the trickles from a few holes, then some gushers that are too big to be plugged, then pieces start falling off the top, then it breaks all at once and the water sweeps through and makes it like the dam was never there. The political and financial routes around American influence and control were the trickles. Now they're getting bigger and bigger past all hope of plugging.

    In less than ten years, America will be paying unfavorable exchange rates to buy foreign currency to buy Saudi oil because it refuses to pump its own.
     

    Jin

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    I don’t feel like the world would move away from the dollar as a reserve currency as the replacement would need to be “trusted” more than the dollar. The Yuan is run by a country with even more corruption than the U.S. i think they are definitely try though, with the large amounts of gold they have been purchasing.

    At the same time, I don’t see a way out of our debt predicament without either a world war or a collapse/hyperinflation. If we move off of the dollar, our current trade deficit would mean really bad news for us.

    I’ve been focusing on acquiring assets and durable goods
     

    snorko

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    In 1980 a Ford Bronco was $8,885.
    2023 Bronco's start at $34,595.
    While I don't disagree with your point, CPI calcs show current value of $8,885 in 2023 to be $$33,480. Which to me says cars have gotten cheaper cause you are getting a lot more with a modern Bronco (drove an '83 Bronco II, it was crap).
     

    Ingomike

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    I don’t feel like the world would move away from the dollar as a reserve currency as the replacement would need to be “trusted” more than the dollar.
    When the Saudi’s “trust” the Yuan the rest will follow. If one the richest entities in the world will take it most will fall in line. The US is a wash rag that is about rung out...
     

    teddy12b

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    When the Saudi’s “trust” the Yuan the rest will follow. If one the richest entities in the world will take it most will fall in line. The US is a wash rag that is about rung out...
    Exactly. Follow the money, plane and simple. Especially if your nation would like to purchase some oil.
     

    spencer rifle

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    Anyone that votes for the Democrats are crazy. Except, of course, those looking for handouts, er, vote buying by the Democrats!
    SWMBO voted for Bidet to get better health care. I recently asked her how that was working out. Her answer - "Not at all." But the damage is done.

    CPI LOL. When they keep changing what's included and to what amount, they can get the result they want. "Torture the data long enough and it will confess to anything."
     

    sixGuns

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