The world ALWAYS had those alternatives, they are just more attractive now than they have ever been.
>Deutsche Bank warns of a “confidence crisis” in the dollar, while UBS Group AG sees a shot in the arm to the euro’s status as a global reserve currency.
No shit. We are witnessing the end of the dollar as the world’s reserve currency in real time.
FoamingCellPhone on
Do iiiit!!! DO IIIIT!!!
We need to be slapped as viciously possible at this point. Let us self sanction and languish until we beg to be at the kids table.
erg99 on
Here is an article on “De-Dollarizaton” trends…
*”If the dollar were to lose its status at the top of the currency heap, the effects on the U.S. economy would likely be dramatic. Borrowing costs in the U.S. might move higher, making it more difficult to gain access to* *capital* *and more expensive to do business in the country. In a situation where the dollar is no longer king, the U.S.* *stock market* *may also experience a drain in value.”*
Thank you President Trump for making Europe great again! He is also China’s nation builder, as the Chinese mockingly say
erg99 on
Here is another bit of context for the story.
Back in 2019 then Bank of England governor Mark Carney (now Canadian PM) adocated for a synthetic currecncy to replace the US dollar as the global reserve currency. I’m wondering if he’s been resurfacing the idea in his talks with other leaders?
Well it was liberation day when world finally liberated from usa finance.
Potential-Menu3623 on
What are the alternatives? Any specific ETFs? Like, Europes equivalent to SGOV?
cyaniod on
The USA biggest down fall will be not having educated their population, leading to the savage over- confidence that ignorance leads to. They’re too stupid to know that they’re stupid.
Dunning krueger
StrongFaithlessness5 on
Everything but CNY. I don’t care if China has over 1 billion people, I don’t care if they are a worldpower country. I’m not gonna learn the most difficult language of the world, nor I’m gonna adopt their currency.
DQUACK1 on
Iirc for decades till recent The German Mark was the 2nd most used currency for reserves
whyreadthis2035 on
It’s the only logical action plan. The US has boldly stated they are no one’s friend and everything is transactional. The US doesn’t have manufactured goods anyone needs. There are capable people in every corner of every country, so you can provide the services you buy from the US. That leaves the dollar. A currency that twice a year threatens to go to hell because Murikkka uses their budget to screw their own people with no regard at all for the global ramifications. Find a new currency and the US is just a slightly better off Russia.
13 commenti
The world ALWAYS had those alternatives, they are just more attractive now than they have ever been.
>Deutsche Bank warns of a “confidence crisis” in the dollar, while UBS Group AG sees a shot in the arm to the euro’s status as a global reserve currency.
No shit. We are witnessing the end of the dollar as the world’s reserve currency in real time.
Do iiiit!!! DO IIIIT!!!
We need to be slapped as viciously possible at this point. Let us self sanction and languish until we beg to be at the kids table.
Here is an article on “De-Dollarizaton” trends…
*”If the dollar were to lose its status at the top of the currency heap, the effects on the U.S. economy would likely be dramatic. Borrowing costs in the U.S. might move higher, making it more difficult to gain access to* *capital* *and more expensive to do business in the country. In a situation where the dollar is no longer king, the U.S.* *stock market* *may also experience a drain in value.”*
[https://www.investopedia.com/what-is-de-dollarization-7559514](https://www.investopedia.com/what-is-de-dollarization-7559514)
Can u post the article? I can’t get past the paywall
For those enountering a paywall, you can also find the article here: [https://www.straitstimes.com/business/companies-markets/world-suddenly-has-a-plausible-alternative-to-us-treasuries](https://www.straitstimes.com/business/companies-markets/world-suddenly-has-a-plausible-alternative-to-us-treasuries)
Thank you President Trump for making Europe great again! He is also China’s nation builder, as the Chinese mockingly say
Here is another bit of context for the story.
Back in 2019 then Bank of England governor Mark Carney (now Canadian PM) adocated for a synthetic currecncy to replace the US dollar as the global reserve currency. I’m wondering if he’s been resurfacing the idea in his talks with other leaders?
[https://www.theglobaltreasurer.com/2019/08/29/mark-carney-proposes-a-digital-reserve-currency/](https://www.theglobaltreasurer.com/2019/08/29/mark-carney-proposes-a-digital-reserve-currency/)
Well it was liberation day when world finally liberated from usa finance.
What are the alternatives? Any specific ETFs? Like, Europes equivalent to SGOV?
The USA biggest down fall will be not having educated their population, leading to the savage over- confidence that ignorance leads to. They’re too stupid to know that they’re stupid.
Dunning krueger
Everything but CNY. I don’t care if China has over 1 billion people, I don’t care if they are a worldpower country. I’m not gonna learn the most difficult language of the world, nor I’m gonna adopt their currency.
Iirc for decades till recent The German Mark was the 2nd most used currency for reserves
It’s the only logical action plan. The US has boldly stated they are no one’s friend and everything is transactional. The US doesn’t have manufactured goods anyone needs. There are capable people in every corner of every country, so you can provide the services you buy from the US. That leaves the dollar. A currency that twice a year threatens to go to hell because Murikkka uses their budget to screw their own people with no regard at all for the global ramifications. Find a new currency and the US is just a slightly better off Russia.