Quote from: DrBeer on May 31, 2023, 04:27:01 PM

Quote from: firesurfer on April 23, 2023, 04:25:06 PM

Consequences of excessive money printing and disunity in world politics. The American economy thrives on blatant wars and resource plunder. Pedro dollar is one of the forms of robbery. All countries that want to buy oil must use dollars. That is the absurdity that the world must accept. That inflationary export helps the Fed issue more currency and is richer than any other institution.
Russia, China, India, some Middle Eastern and Asian countries have agreed to use a currency system other than the dollar to eliminate dependence. This creates a new pole in the world economy.

And another thing is that the opening of China after COVID makes the source of goods more abundant and makes the world economy more comfortable.
The collapse of the US economy was mainly caused by excessive interest rate hikes. The American people are mainly in debt, so the banking system is at risk of illiquidity. People's assets are being squeezed. Businesses also easily fall into bankruptcy.

When you tell such fabulous stories, don't forget to give real facts about how this "alternative" actually looks like

Let's look at the reality: after sanctions and an embargo on the supply of hydrocarbons were imposed against the country of the terrorist, the "friends of Russia" - India and China - immediately became active. And it was they who suggested - "let's de-dollarize the market, to spite the United States, and we will sell everything for our currencies, and they are better than the dollar, really!"

And Russia began to sell gas, and primarily oil, to India and China, for Indian rupees and Chinese yuan. And they sold a lot of oil, with huge discounts! Before this stage, except for the "penny prices" for which Russia sells oil to these "friends", everything was going well.
But when Russia decided to exchange rupees and yuan for dollars, which Russia "needs like air", it turned out ... That they cannot be exchanged for dollars!

And no one sells sanctioned goods for rupees and yuan. Well, or buy low-quality "copies" of sanctioned goods and technologies from India and China

I think it was a "perfect plan"

Here we stand, ensnared in a tangible round of the grand old game of Monopoly, with the big leaguers contemplating a "From Dollars to Something Else" stratagem! But allow us to hit the pause button and take a trip down memory lane to grasp the full scope. The Petrodollar play has been on the board for some time. Several nations attempted a plot twist by distancing themselves from the dollar system. But lo and behold, the dollar is like that perennially over-performing student - omnipresent! And just like in the schoolyard, not everyone is keen on swapping their prized possessions for your DIY denomination.

So, nations like Russia, China, India, and others started a new niche. But when they wanted to exchange their rupees and yuan for the high rollers' dollars, the high rollers were rather unenthusiastic. The age-old adage of "no tradebacks" was invoked. It was like anticipating a feast at a herbivore's home, only to be served an elaborate array of greens.

So yes, the so-called "alternative" currencies aren't exactly flourishing in the playground of world economics.