Dollar on the road of extinction as reserve currency

[kety]

As you probably know, China and Russia are doing everything to collapse dollar as world's reserve currency.

Today, China have a agreements with more than 35 countries that includes direct trade without dollar with Germany, Russia, Japan, Australia, N. & S. Korea, Turkey, Brazil, South Africa, India, Iran, and so on; all countries from BRICS block are doing trade without dollar with each other and for the first time and most important of all - Russia is selling oil in their own currency - ruble and chinese reninmbi and all former Soviet Union block are doing trade in ruble.

I'm from Serbia, so you probably don't know what's happening outside of US, but in Europe in general, everyone is trying not to use dollar anymore in their trades. From few days ago, even Serbia and Russia have started doing trade without dollar as reserve currency.

Therefore, I would like to know your opinion about future of the dollar and his geopolitical influence? Will US be able to succeed to save their currency in present form, precisely, will be able to regain its former glory or the dollar will continue to fall down?


Best wishes,
Ivana.

[TER]

Therefore, I would like to know your opinion about future of the dollar and his geopolitical influence? Will US be able to succeed to save their currency in present form, precisely, will be able to regain its former glory or the dollar will continue to fall down?

It's anyone's guess, but taking history into account as well as the current monetary policy of the US, it is very hard to imagine a scenario where the US dollar will go back to its former glory and status. But, one never knows...

[bxm042]

It's anyone's guess, but taking history into account as well as the current monetary policy of the US, it is very hard to imagine a scenario where the US dollar will go back to its former glory and status. But, one never knows...

The only way I can see that happening is if the US starts and wins World War III

[oyarde]

There is no hope for the paper dollar, but that is just my opinion, based on math.Thankfully , I have dollars that are not paper. My goal is to be in a position where I do not even need those ( no need to buy anything ) .

[enoch150]

China and Russia are doing everything to collapse dollar as world's reserve currency.

I think you mean the Federal Reserve and US Government. Other countries want out of the dollar because of what those two are doing.

I don't believe the destruction of the dollar is reversible. I also don't believe a complete rejection of the dollar as the world's reserve currency is going to occur in the immediate future, but it will probably happen before the end of this decade.

Part of the problem is that the world will need to agree on a replacement as a reserve currency, and right now, there aren't any good options. Chinese Renminmbi is to restricted, Yen as the reserve currency would drive up the price of Yen to the point that it would ruin Japan's export based economy without such massive intervention that it would render pointless the purpose of holding Yen as a reserve, and the Euro is fracturing from within. There isn't anything else. Gold could fill the role, but the world isn't ready, yet, and that means the dollar still has a little time left.

[oyarde]

The fact that there are no options is the only thing keeping it alive now, once there is , toast.

[kety]

I think you mean the Federal Reserve and US Government. Other countries want out of the dollar because of what those two are doing.

It could be said that way.

But don't forget just one thing, Russia in the 90's has tried to replace dollar as reserve currency too, so I think she specifically waited for the opportunity given by your government and the Federal Reserve to destroy American economic hegemony.

Basically, I have nothing against the U.S. however, I'm not glad that countries like Russia and former Soviet Union states are rising again.

My state is her only alliance in Europe and believe me, their principles are still extremely racist and fascistic. Same in my country unfortunately.

Eastern world leaded by China as communist country and Russia as fascist one, it scares me a little bit, so I'm not feeling a lot save for the future.

I don't believe the destruction of the dollar is reversible.

If it happens that scenario, what will be the consequences for the United States?

Will the standard of living of American citizens drop drastically once the dollar loses his reserve currency status?

Will that lead to dramatic budget cuts?

The fact that there are no options is the only thing keeping it alive now, once there is , toast.

As I can see, you all agree that a bad future of US dollar is inevitable...

I have dollars that are not paper.

What do you mean by that?
(if it's not a secret of course)

It's anyone's guess, but taking history into account as well as the current monetary policy of the US, it is very hard to imagine a scenario where the US dollar will go back to its former glory and status. But, one never knows...

So, you think that US will become a new fallen empire, like UK?

Ivana.

[VBRonPaulFan]

What do you mean by that?
(if it's not a secret of course)

It means he has physical assets that are actually worth something in some way (gold, silver, land, etc).

[kety]

It means he has physical assets that are actually worth something in some way (gold, silver, land, etc).

Thanks.

I assumed, yet I asked, just in case.

Ivana.

[oyarde]

It means he has physical assets that are actually worth something in some way (gold, silver, land, etc).

Correct , land , timber, tillable that is pd for( as long as I keep paying the property tax in dubious FRN's ) I will need to do that until I am sure the Sherriff will no longer show up to auction it, honestly, I will not mind that particular part of a collapse , I have copper , silver , silver dollars ( real dollars ), some old 1850's gold dollars , California Territory gold 1/2 and 1/4 dollars from the same time period, scrap , Weapons , ammo , water ,ability to feed myself ( food stores , onions, potatoes , deer, rabbits, chickens, turkeys , fish , squirrels etc ),seeds , access to panning gold dust if needed, heat and some light without electric. Things of real value, not paper.