all the goodies got stuck or not produce yet due to black out so holiday seasons but nothing to spend on, not on the shelves yet
Back to strength again. Let's see how long it will last. My gut feel is it will go up and down, but the trend is still up.
with sanctions all over the US face, even buying vaccines required collateral in the form of other assets, then what is the USD doing? just ask any countires that got the sanctions named before their countires, can they use their USD, you bet, just check Afghanistan, no its not their money cos they are not the ligitimate government, ah what ?? just ask China, why are they not using their USD, the technologies are off limits, for national securities, ah what ?? none the less, the USD as being stored by CB will continue to drop below 43%... tik tok tik tok by holding US treasuries, CB are being owed that money, what an asset ??? it a rope on the necks of CB lol look good on the neck, just like long gold chains, when you can be pulled like a cow
yeah it was 1980s when USD reserved was over 60% now the biggest trade partner is China, and there is a need to increase RMB portion to 10% so the USD portion will get cut by 10% it is as simple as trade is concern
which is US liabilities, lending to the richest nation on earth yeah, is gurantee to get paid back!yeah. sure!, but what it can buy will never be quarantee!!!
remember that oil is no longer being traded in just USD, the US had removed the Saudi Arab protections. Saudi had accepted Yuan,Euros etc, this amount is cleary seen in their book, so Iran has traded in Cryptos as well as in other exchanges EU will continue to buy Russian gas in Euros or Rubles Petrol has un-dollar, trades settlements in SCO and many BRI countries are using their domestic currencies, besides the USD
Dollars are powerful. It's not about the money itself or promise. It's something which not even gold cannot give. Gold is just money but dollars is more than just money (wealth). You can be a billionaire a hundred times over, wealthiest person, but if you're stuck in one particular country, you're more miserable than a homeless person in America. If Americans know how to use it, it is more powerful than the nuclear bomb.
its the infrastructure and settlement of it, else is just a display if the US stop the swift, where the transfer process is going on, then the big countries like China and Russia will settle in the alternative system like NK can still live outside the system, so long as their printing press is as good, and print USD to spend in the US lol but no body can prevent you from using gold line to settle your trade between your two countries, and gold is always accepted by people hated by the US lol
Trade is irrelevant. To paraphrase Warren Mosler they could always use paper clips to settle cross border transactions for all that it matters. The USD (and to a lesser extent the other majors) is the world’s reserve asset because there’s SFA else available to use on the balance sheets of institutions and funds.
It wouldn't make an ounce of difference as the USD would still be in huge demand as a reserve asset. There'd be some in the US Treasury Dep't and The Fed that would probably have nightmares, but they're the ones who have no clue about how the system operates or if they do they're just protecting their jobs. Trade is simply just shuffling goods around the globe in exchange for entries onto a spreadsheet. Despite what RT and the rest of the anti-US propaganda news sites bloat on about it really doesn't matter if the Russians buy Saudi oil using USD or dog turds. https://www.ussc.edu.au/analysis/th...-current-and-future-role-in-the-world-economy Russia, China, Germany, the UK etc etc, none of them can rival the "fundamental strength" of the US "political and economic institutions, as well as its internationally unrivalled capital markets". Which I know must really piss off Putin and Xi and anyone else who hates the US, but that's because the USD remains free from the impact of "the ups and downs of the US economy and politics" even in spite of financial crisis and drongos like Biden or Trump.
Denis Leary, on the topic of USD dominance: "The USD will remain the world's 'reserve currency' And there ain't a goddamn thing anybody can do about it You know why? Because we got the bombs, that's why Yeah, two words, nuclear fuckin' weapons, okay? Russia, Czechoslovakia, Romania, they can have all the democracy They want, they can have a big democracy cakewalk right through The middle of Tienamen Square and it won't make a lick Of fuckin' difference because we got the bombs, okay? John Wayne's not dead, he's frozen and when we find a cure for cancer We're gonna thaw out the Duke and he's gonna be pretty pissed off You know why? You ever taken a cold shower? Well, multiply that by 15 million times, that's how pissed off The Duke's gonna be, I'm gonna get the Duke and John Casavettes And Lee Marvin, and Sam Peckinpah And a case of fuckin' whiskey and drive down to Texas..." Well, he wasn't really talking about the USD.
