Quote from: EarnOnVictor on November 01, 2024, 07:59:06 AM

Quote from: delfastTions on October 31, 2024, 07:14:24 AM

Quote from: EarnOnVictor on October 30, 2024, 06:37:03 PM

Quote from: delfastTions on October 30, 2024, 07:04:12 AM

I think that the process of abandoning the dollar as a stable currency will still continue, although it may take a long time. Moreover, with the inevitable continued growth of the economies of the giant countries - China, India, Indonesia, their local currencies will have more and more weight in the global economic system.

Sure, the attacks on the USD and the conspiracy to silence it will continue but it will not prevail. What can prevail is a better and more stable currency of the competitors, but all those traitors do not have the qualifications, so let's face the reality. The USD did not just get strong and prominent suddenly, it took a whole lot of political and economic reforms. Let them also strive for better currencies in their respective countries before they start fighting the USD.

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As for El Salvador, in my opinion, the experiment with the legalization of bitcoin there did not cause an explosive growth of the economy and the well-being of people, but it clearly contributed to an increase in the number of bitcoin tourists and the development of the fintech sector of the economy on their territory. And this result can well be considered quite successful.
Moreover, the Bukele government has already solved the problems with IMF loans.

Bukele solved the problem of IMF loans, how?

But I must commend your sincerity about the general economy even though I don't agree with you on the fintech development. It is a must with or without Bitcoin.

It's just that the general progress of civilization will still lead to the fact that the dollar, that is, the currency actually issued by only one country in the world, although powerful in economic terms, will not suit competing and no less powerful economies in the long term. And this means that gradually civilization will come to an agreement on issuing a common currency.

I love this reply, the world can only come in one accord to agree on a certain "asset," and maybe it will stop this fight against the USD and avoid the shadow chasing of the rival nations. If you noticed, I used "asset" instead of the "currency" used by you, the reason is that no other nation's currency is as stable and recognized as that of the USD, so a good asset could be a better replacement.

On thinking deeper, CHF is a very good alternative but it is just a tiny nation in Europe (no strong political power), will the world accept that? Gold was also used in the past and Gold has proven to be a viable alternative but was displaced for the USD due to economic and political reasons. Notwithstanding, till today, no nation has been forced to choose the USD, there are alternatives (currencies and assets) but decided to choose the USD due to the advantages and safety attached to it.

I agree that at the moment the dollar is the leading "asset", unless of course you consider gold as such. However, I must note that in any case, the powerful developing economies of China and India will still at some point understand that the control and emission of a global asset in a foreign country for them - the USA of this asset, and even by an incomprehensible body - the Federal Reserve System, can no longer be used as a global equivalent of value. This is an inevitable process simply based on the population of these countries and the inevitable outstripping growth of intellectual development of the population of these countries, which in turn leads to technological breakthroughs in many industries. So in any case, the dollar monopoly will end and this sunset of the dollar era, in my opinion, is on the horizon of the next 20 years.