Quote from: DanWalker on Today at 10:21:51 AM

Quote from: Sayeds56 on June 17, 2023, 12:27:59 AM

Quote from: Mimiklinton on April 12, 2023, 09:38:48 AM

Could there be a new financial system not dependent on USD?

Yes, it is possible and there are discussions going on in many parts of the world about it to create a multi-currency system that is not solely dependent on pre-dominated US dollar-based system, and digital currencies such as Bitcoin is also an option. The major economic powers such as China and Russia are already using their national currencies to trade goods and services. However, completely moving away from US dollar poses significant challenges due to complexities involved and need for agreements among nations to establish and accept a new system.

The idea of a dollar-free financial system is just the beginning, it is difficult to say whether they will succeed or not. And honestly, I doubt the success of these ideas, but that doesn't mean the dollar will rule forever. Maybe this revolution of China and Russia will not succeed soon, but there will certainly be another revolution in the future, and the dollar will be replaced or eliminated it is only a matter of time. Because the history of mankind has proven, there is no powerful empire that has not been replaced over time.

Russia for China is a raw material appendage, and "a toy to intimidate the West." Game over...

"The United States does not support Taiwan independence and does not intend to enter into conflict with China
This was announced by US Secretary of State Anthony Blinken during a meeting with Chinese leader Xi Jinping in Beijing.
The PRC leader added that the United States should respect China's position and not harm the legitimate rights and interests of the country. Xi Jinping expressed hope that the United States will take a rational and pragmatic stance towards China."

This means that now the fate of Russia, if it is of interest, is only as a new territory of China or a raw material appendage with a short lifespan.

Regarding the "non-dollar international financial system" - now you can easily prove to yourself, without wanting it, that this is not interesting to anyone. Not China. Neither India. It is beneficial only as a populist slogan in the hands of those who have neither dollars, nor a normal economy, nor any weight in the world economy.

And so the question is - explain the real purpose, benefits, security and convenience of avoiding the dollar, as an inter-border settlement system? Just do not use "slogans", but a pragmatic, reasoned explanation?