Popular Post watgate Posted June 12 Popular Post Share Posted June 12 (edited) As more countries, and just recently, Thailand, are moving away from the US dollar in its capacity as the world's reserve currency, and are joining BRICS to conduct their business outside the US dollar, what effect will this have on the US dollar? Do you think American's residing in Thailand will have any problem with the US dollar now that Thailand has stopped using the US dollar? Also, now that more then 1/2 the world's population, including Russia, China, India have de dollarized from the US currency, what effect will that have on the US dollar in terms of purchasing power, the devaluation of the dollar due to out of control printing of fiat currency to finance their debt due to more and more countries not wanting to own US dollars that are becoming worth less and less? No one has a crystal ball but am interested in folks outlook for the US dollar going forward, and how concerned are you, if any, about the present course of events globally as they unfold, especially in relation to your investments and pensions and social security, as well as ones holdings in other assorted investment vehicles denominated in US dollars. Edited June 12 by watgate spelling error 2 4 1 2 Link to comment Share on other sites More sharing options...
Popular Post Stocky Posted June 12 Popular Post Share Posted June 12 1 hour ago, watgate said: As more countries, and just recently, Thailand, are moving away from the US dollar in its capacity as the world's reserve currency, and are joining BRICS to conduct their business outside the US dollar, what effect will this have on the US dollar? Not much. If however, people stop buying US debt (Treasuries) the currency would be in trouble. That said as countries like China own so much US debt already they would be hurting themselves equally by doing so. Over the long term it's likely the US will find it harder and more expensive to furnish its debt. The US really does need to balance its books and live within its means. 5 1 2 1 7 Link to comment Share on other sites More sharing options...
Popular Post topt Posted June 12 Popular Post Share Posted June 12 5 hours ago, watgate said: No one has a crystal ball but am interested in folks outlook for the US dollar going forward, Did you read this thread which has some posts that give others views - bearing in mind Thailand has applied but isn't a member yet........ 5 hours ago, watgate said: Do you think American's residing in Thailand will have any problem with the US dollar now that Thailand has stopped using the US dollar? Really.......aren't you getting a bit ahead of yourself........... 1 2 Link to comment Share on other sites More sharing options...
Popular Post KhunHeineken Posted June 12 Popular Post Share Posted June 12 4 hours ago, Stocky said: Over the long term it's likely the US will find it harder and more expensive to furnish its debt. The US really does need to balance its books and live within its means. Or, start World War 3 to wipe out the debt and start with a clean slate. 2 2 1 1 3 Link to comment Share on other sites More sharing options...
Popular Post johng Posted June 12 Popular Post Share Posted June 12 38 minutes ago, KhunHeineken said: Or, start World War 3 to wipe out the debt and start with a clean slate. That does seem to be a plan a crazy plan but I suppose those surviving the war (the instigators) in their nuclear bunkers will relish the thought of inheriting the new world devoid of the billions of peons. 1 1 2 Link to comment Share on other sites More sharing options...
Popular Post swissie Posted June 12 Popular Post Share Posted June 12 The de-dollarisation will be a slow process. The new "basket" of currencies will contain countries that are equally indepted as the US. Not making for a more "solid" currency than the US Dollar. A lame horse replaced by another lame horse? Unless the new "basket currency" is explictictly backed by the new central bank and their taxpayers. Same as the Euro. Unless that happens, I am confident that I will still pay for my tea in eastern timbuktu with Dollar bills for the next 10 years. 1 1 8 Link to comment Share on other sites More sharing options...
Popular Post Srikcir Posted June 12 Popular Post Share Posted June 12 This article sounds like a bit coin ad. 2 2 6 Link to comment Share on other sites More sharing options...
Popular Post malathione Posted June 13 Popular Post Share Posted June 13 17 hours ago, Stocky said: Not much. If however, people stop buying US debt (Treasuries) the currency would be in trouble. That said as countries like China own so much US debt already they would be hurting themselves equally by doing so. Over the long term it's likely the US will find it harder and more expensive to furnish its debt. The US really does need to balance its books and live within its means. As a percentage of GDP, US debt is lower than the G7 average (an admittedly skewed metric due to Japan's debt). But yes it does need to slow down its ever increasing accumulation of debt being that as recently as 2001, its debt to GDP ratio was around 40% as opposed to 120+% now. 1 2 Link to comment Share on other sites More sharing options...
The Old Bull Posted June 13 Share Posted June 13 13 hours ago, KhunHeineken said: Or, start World War 3 to wipe out the debt and start with a clean slate. Drones cannot survive without workers to feed them so it won't happen. Link to comment Share on other sites More sharing options...
Popular Post koolkarl Posted June 13 Popular Post Share Posted June 13 US power comes from the USD. They won't let it go so easily. Just ask Saddam. 1 1 2 1 Link to comment Share on other sites More sharing options...
patman30 Posted June 13 Share Posted June 13 not confirmed, but there are reports that 1 BRIC will be equal to $55 1 Link to comment Share on other sites More sharing options...
Old Croc Posted June 13 Share Posted June 13 14 hours ago, KhunHeineken said: Or, start World War 3 to wipe out the debt and start with a clean slate. Don't you mean World War 2. 1 Link to comment Share on other sites More sharing options...
Popular Post mania Posted June 13 Popular Post Share Posted June 13 21 minutes ago, koolkarl said: US power comes from the USD. They won't let it go so easily. Just ask Saddam. Or Muammar Gaddafi Both he & Saddam said they would leave the petrol dollars & sell in Euros we know the rest 1 1 2 Link to comment Share on other sites More sharing options...
Jenkins9039 Posted June 13 Share Posted June 13 20 hours ago, watgate said: As more countries, and just recently, Thailand, are moving away from the US dollar in its capacity as the world's reserve currency, and are joining BRICS to conduct their business outside the US dollar, what effect will this have on the US dollar? Do you think American's residing in Thailand will have any problem with the US dollar now that Thailand has stopped using the US dollar? Also, now that more then 1/2 the world's population, including Russia, China, India have de dollarized from the US currency, what effect will that have on the US dollar in terms of purchasing power, the devaluation of the dollar due to out of control printing of fiat currency to finance their debt due to more and more countries not wanting to own US dollars that are becoming worth less and less? No one has a crystal ball but am interested in folks outlook for the US dollar going forward, and how concerned are you, if any, about the present course of events globally as they unfold, especially in relation to your investments and pensions and social security, as well as ones holdings in other assorted investment vehicles denominated in US dollars. Not so much, the World which includes states, corporations, people, require dollars to service their eurodollar debts, the Eurodollar debt / liabilities market is a paper market worth anywhere between 350 Trillion $ to 420 Trillion $, which is currently rolled over at roughly 75 Trillion $ annually, the debt / liabilities are across the world, predominately not with the the West but with each other. So every year there is the demand for the $ to service the interest or refinancing of the debt. 1 Link to comment Share on other sites More sharing options...
Popular Post mania Posted June 13 Popular Post Share Posted June 13 (edited) All these "currencies" all will fail ...all fiat currencies have failed eventually. Problem is we no longer realize the difference between fiat currencies (IOU's) & money Edited June 13 by mania 2 1 Link to comment Share on other sites More sharing options...
Popular Post Presnock Posted June 13 Popular Post Share Posted June 13 50 minutes ago, malathione said: As a percentage of GDP, US debt is lower than the G7 average (an admittedly skewed metric due to Japan's debt). But yes it does need to slow down its ever increasing accumulation of debt being that as recently as 2001, its debt to GDP ratio was around 40% as opposed to 120+% now. And, for the Nov election candidates, Trump greatly increased that debt and Biden is well on his way to further increase the debt. When will the US ever have a Congress that fights for the country and citizens instead of big business and the candidates chosen by the party. I guess until the members of Congress stop fighting to get re-elected versus changing laws, writing yearly budget bills that fight debt increases, especially with useless pork barrel additions to make individuals popular in their state but unnnecessary for the nation's well being. My opinion anyway. 2 1 Link to comment Share on other sites More sharing options...
Popular Post Tubulat Posted June 13 Popular Post Share Posted June 13 14 hours ago, KhunHeineken said: Or, start World War 3 to wipe out the debt and start with a clean slate. They certainly have those plans, if you just look at setting up against each other, and supplying plenty of weapons in the Russia-Ukraine conflict. 1 1 2 Link to comment Share on other sites More sharing options...
Peterphuket Posted June 13 Share Posted June 13 9 hours ago, swissie said: The de-dollarisation will be a slow process. The new "basket" of currencies will contain countries that are equally indepted as the US. Not making for a more "solid" currency than the US Dollar. A lame horse replaced by another lame horse? Unless the new "basket currency" is explictictly backed by the new central bank and their taxpayers. Same as the Euro. Unless that happens, I am confident that I will still pay for my tea in eastern timbuktu with Dollar bills for the next 10 years. I think also with chf. 2 Link to comment Share on other sites More sharing options...
Dazinoz Posted June 13 Share Posted June 13 3 hours ago, Srikcir said: This article sounds like a bit coin ad. Yes but not so much Bitcoin but another crypto. Link to comment Share on other sites More sharing options...
spidermike007 Posted June 13 Share Posted June 13 1 hour ago, Old Croc said: Don't you mean World War 2. Are you now denying WWII ever happened? Was it fake news? 2 Link to comment Share on other sites More sharing options...
Popular Post soalbundy Posted June 13 Popular Post Share Posted June 13 10 hours ago, swissie said: The de-dollarisation will be a slow process. The new "basket" of currencies will contain countries that are equally indepted as the US. Not making for a more "solid" currency than the US Dollar. A lame horse replaced by another lame horse? Unless the new "basket currency" is explictictly backed by the new central bank and their taxpayers. Same as the Euro. Unless that happens, I am confident that I will still pay for my tea in eastern timbuktu with Dollar bills for the next 10 years. The beauty of the coming new Brics currency is that it will be backed by gold, which is why especially China and Russia are buying so much gold. This will make it a powerful currency against fiat currencies, this will be dangerous for America as there will be no need or desire to buy America's debt. Having said that the Brics countries cant have any desire to see America fail since they export so much to the US. There is going to be a huge geopolitical reset in the next 20 years and the US will have a lot less influence, in fact that is already happening. The CIA will no doubt employ its 'dirty tricks department' to try to hinder Brics but that will fail, all empires fail in the end. 2 2 Link to comment Share on other sites More sharing options...
Celsius Posted June 13 Share Posted June 13 It will be catastrophic for US dollar. OP, please protect yourself right now. I will buy all your US dollars cash in for 15 baht per 1 dollar. PayPal ok. 1 Link to comment Share on other sites More sharing options...
john donson Posted June 13 Share Posted June 13 2 hours ago, mania said: Or Muammar Gaddafi Both he & Saddam said they would leave the petrol dollars & sell in Euros we know the rest plus millions of refugees with incompatible religion overflowing europe so the 10-35 million illegals flowing into the USA = KARMA at least most are christians 1 1 Link to comment Share on other sites More sharing options...
Alex2554 Posted June 13 Share Posted June 13 BRICS Central Bank doesn’t exist 1 Link to comment Share on other sites More sharing options...
malathione Posted June 13 Share Posted June 13 4 hours ago, Presnock said: And, for the Nov election candidates, Trump greatly increased that debt and Biden is well on his way to further increase the debt. When will the US ever have a Congress that fights for the country and citizens instead of big business and the candidates chosen by the party. I guess until the members of Congress stop fighting to get re-elected versus changing laws, writing yearly budget bills that fight debt increases, especially with useless pork barrel additions to make individuals popular in their state but unnnecessary for the nation's well being. My opinion anyway. Absolutely. I agree with your opinion 100%. Link to comment Share on other sites More sharing options...
John Drake Posted June 13 Share Posted June 13 5 hours ago, patman30 said: there are reports that 1 BRIC will be equal to $55 Name them. 1 Link to comment Share on other sites More sharing options...
patman30 Posted June 13 Share Posted June 13 10 minutes ago, John Drake said: Name them. if you are going to quote me, quote me in full, as i said, i have not confirmed. literally the first two words i typed i am not here to hold your hand if you had asked nicer maybe i would spend my time to find for you 1 Link to comment Share on other sites More sharing options...
patman30 Posted June 13 Share Posted June 13 for everyone else except John Drake this took me all but 3 seconds 1 Link to comment Share on other sites More sharing options...
John Drake Posted June 13 Share Posted June 13 1 hour ago, patman30 said: if you are going to quote me, quote me in full, as i said, i have not confirmed. literally the first two words i typed i am not here to hold your hand if you had asked nicer maybe i would spend my time to find for you Silly hysteria, you fussy little man. 1 1 Link to comment Share on other sites More sharing options...
John Drake Posted June 13 Share Posted June 13 53 minutes ago, patman30 said: for everyone else except John Drake this took me all but 3 seconds A single unattributed meme. 1 Link to comment Share on other sites More sharing options...
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