Post
Topic
Board Economics
Re: Could there be a new financial system not dependent on USD?
by
karmamiu
on 12/04/2023, 12:02:30 UTC
In my opinion, new financial system without dependent on USD is very possible, as long the countries who involved with is agree. In fact creating new money is possible too as long as the community is agree.



A little bit out of topic I want to add some other news too

French president says Europe should limit dependence on US - https://www.aa.com.tr/en/europe/french-president-says-europe-should-limit-dependence-on-us-for-security/2769816

China - Saudi Arabia summit agreements put pressure on US influence - https://www.vox.com/2022/12/10/23502903/china-saudi-arabia-united-states-relations-strain


Yes exactly. As long as there is a mutual agreement between everyone, it is not impossible to even create new currency to be used or change the financial system in which it won't be dependent on USD. In regards to changinf currencies, we are all aware that there have been mamy issues involved with USD even from before, and there are so many countries who are already waiting to be next reserved currency.

The currency alone is easy, but the agreement is the one that seems possible. We know that before it reaches some sort of agreement, there're various procedures to follow and it is also possible that there will be debates and arguments to follow.