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After World War II, the US dollar replaced the British pound as the dominating currency worldwide. As these other nations de-dollarize what it will do is remove the power of the Deep State to use the U.S. Dollar as a weapon against the rest of the world. Since China is by far the largest holder of US dollar reserves, this looks like the beginning of the end of the US dollar as the world's reserve currency. The new monetary system could mean the debts can be settled in their own countries and could reduce the demand for US dollars by 3 billion a year. However, BRICS countries may indeed do that eventually and form their . By 2007, China was the worlds largest gold-producing nation, and today a significant quantity of gold is being mined in over 40 countries. Once the supply has adequately grown to meet demand, the cycle enters a downswing. Top 5 countries opting to ditch US dollar & the reasons behind their [11][12], In December 2022 at China - GCC Summit, President Xi Jinping called for Oil trade payments to be settled at yuan. De-Dollarization: Countries Seeking Alternatives to the U.S. Dollar It covered an import of medical equipment to combat the COVID-19 outbreak in Iran. Image used for representational purposes/Freepik. Indonesia is the fourth-most populous country on Earth, after the United States. According to the World Gold Council, mined gold production is expected to increase in 2023 and could surpass the record set in 2018 (3,300 tonnes), led by the expansion of existing projects in North America. The US dollar has risen by almost 15% against some of the world's most traded currencies this year. "Explained: What Is Dedollarisation & Why Are Countries Dumping The US Dollar? China, the emerging and competing empire, has already started the process of dumping the American dollar in a careful and coordinated fashion. Where are Clean Energy Technologies Manufactured? GLOBAL ECONOMIC WARFARE INCOGNITO!! Both countries, which are perceived as anti-US, are trading in their local currency with one another. What will occur is that the U.S. economy will be revitalized from within. There was a large supply of dollars around the world, making it difficult to back dollars with gold. Your crime in USA is nothing, here you cant go out after dark, youre putting your life at risk. You need people coming in with their savings to start businesses. The United States Department of the Treasury exercises considerable oversight over the SWIFT financial transfers network,[4] and consequently has a huge sway on the global financial transactions systems, with the ability to impose sanctions on foreign entities and individuals. You know not all the people of America agree with Americas government officials and what they do, so you want to kill us all, the land and animals? As per a Reuters report, Buenos Aires said that it aims to pay $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly imports will be paid in yuan. As the recent International Monetary Fund report stated that the dollar still plays an outsized role in global markets despite the US economy representing a shrinking share of global output over the last two decades. Boy, if thats done John McCormick, this comment is beyond reproach!!! Meanwhile, the share of the euro has fluctuated around 20 percent, while the share of other currencies including the Australian dollar, Canadian dollar, and Chinese renminbi climbed to 9 percent in the fourth quarter (green line). Although it has remained the international reserve currency, the U.S. dollar has increasingly lost its purchasing power since then. RCEP includes 16 country signatories and the potential pact is expected to form a union of nearly 3.4 billion people based on a combined $49.5 trillion economy, which accounts for nearly 40 percent of the world's GDP. These Countries Are Quickly and Quietly Dumping the Dollar "Project Sandman" describes a 100+ nation agreement that - Reddit ", "The rise and fall of the dollar (or when did the dollar replace sterling as the leading reserve currency? Blockchain Regulators The SWIFT system a abolished in favour of another better system perhaps the Quantum Financial system is our new world. . [32], In December 2015, the Kazakhstan government and national bank announced plans to reduce dollar dependency and strengthen the national currency. Although the blockchain teck has some intriguing facets, I dont think it is anywhere near the class of trust levels that Gold has had for centuries. ?/ so u can spend 1 trilion every year for defence?? New Global Currency Designed to Ditch US Dollar Coming From BRICS The Russian leader added, We support using Chinese yuan in transactions between the Russian Federation and its partners in Asia, Africa and Latin America. This ended both the gold standard and the limit on the amount of currency that could be printed. Emerging economies with big dollar-denominated debt balances have been hit particularly hard by the strengthening . 24 Nations Align Against US Dollar As BRICS Looks to Launch New Global What Happens If The U.S. Dollar Is No Longer The World's Reserve None of these cryptos for the exception of one, can facilitate micropayments or perform peer-to-peer payments. World reserve currencies have always had a limited life span and ours is up. According to the latest published data, China and Japan dumped U.S. Treasuries the most in August. .More Countries Repatriating their Gold and Ditching The Dollar Survival Economist: 3-6-2022 Hungary's Gold Repatriation Adds To Growing Protest Against US Dollar Hegemony. The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the US dollar. NOW it the time to buy! With the most recent commodity supercycle peaking in 2011, could the next big one be right around the corner? In light of the recent developments Iran is the most pressured nation to drop the dollar with Tehran having partially adjusted trade without the US currency, Alexandre Kateb, president of Competence Finance SAS, told RT. South Africas annual gold production peaked in 1970 at 1,002 tonnesby far the largest amount of gold produced by any country in a year. This scenario has been engineered for a deliberate collapse of the dollar fiat currency and an attempted forcing of everyone into a digital dollar system run by the banksters. Or depending the period of time, you could also come in invited by the Mexican border into Texas so that later you could ignore the conditions and just uprising to declare independence. Explained: What Is Dedollarisation & Why Are Countries Dumping - MSN This is because Kenyas dollar reserves are running low. The unilateral sanctions the United States has imposed on countries all across the planet, in flagrant violation of international law, are backfiring. In fact, China contributes to the dollar's status by having more of it than any other country in its unmatched, multitrillion dollar foreign reserves and its unclear that Beijing even sought to. De-dollarization its a theme in other parts of the world: Despite these movements, few expect to see the end of the dollars global sovereign status anytime soon. Currently, no single currency fully meets these criteria, although the euro and the Chinese yuan have made strides in this regard. But they are failing to recognize the fact that in the past the immigrants went through the legal process and like today where they just crossed into our country illegally! like star treck where humans work for the betterment of science and evolution, nature etc. She noted that the former Goldman Sachs economist who first popularized the term BRICS, Jim ONeill, has stated that the dollar plays far too dominant a role in global finance. But there is something more sinister behind the move seen in U.S. bonds in September. The chair of the Financial Times editorial board and US editor-at-large, Gillian Tett, wrote that US banking turmoil, inflation and looming debt ceiling battle is making dollar-based assets less attractive. This will force The Federal Reserve to print even more dollars than the $85 billion it's currently printing. What started in September of last year, when an agreement between China and Russia ended the dollar's stranglehold over oil and how it was purchased, the past 14 months have seen a momentous rush towards setting up the infrastructure to replace the dollar completely in global transactions. One of the worlds leading newspapers, the Financial Times, acknowledged in an article in March that these historic developments are part of a transition to a multipolar currency world. This has nothing to do with a global conspiracy to dump the dollar. It has been reported that in the first quarter of 2020 the share of the dollar in the bilateral trade between China and Russia fell below 50 percent for the first time. Several countries are undertaking this process because they would like to call a halt to dollar hegemony. The acronym BRICS stands for the countries of Brazil, Russia, India, China and South Africa. Russia and Iran are also working together to launch a cryptocurrency backed by gold, according to Russian news agency Vedmosti. H.E. Alternatives to US dollar dominance can be found if one searches far enough a bitcoin standard for nation-states for example. Serkan Arslanalp , Chima Simpson-Bell May 5, 2021 The share of US dollar reserves held by central banks fell to 59 percentits lowest level in 25 yearsduring the fourth quarter of 2020, according to the IMF's Currency Composition of Official Foreign Exchange Reserves (COFER) survey. [60][61] Also, the same month, Argentina and Brazil proposed a common currency for trade which is termed as Sur. Buy Book. BRICS was formed back in 2006, and the original group did not include South Africa, which joined in 2010. bitcoin under the same asset class as gold ,, a commodity but crypto is also a monetary and currency system. Moreover, it doesnt seem to be a longterm viable option. This, in turn, gives Washington economic powers beyond belief. [73], After a year of the RTGS Dollar having been the only legal tender,[74] Zimbabwe adopted dollarization due to hyperinflation. Anwar proposed the Asian Monetary Fund at theBoao Forum in Chinas Hainan province. Global gold production has grown exponentially since the 1800s, with 86% of all above-ground gold mined in the last 200 years. Could The U.S. Dollar Collapse? - Forbes A wheel barrow of money for a loaf of breadsame thing happened in Germany after ww2 . China is open to talks with Malaysia on forming an Asian Monetary Fund, said Prime Minister Anwar Ibrahim, amid the worlds growing impatience with the King Dollars dominance https://t.co/oXnuqomt9n. one more ignorannt fromw est who cant understand that the shifintg of wealth was already eneterd in the mid of operation and now the shift of geopolitical ballance is inteh makeingall started in 2008 with GFCand it contiune with us bailing put teh corporations and the printing of money like ios no tomorow.How do you want to keep the dominance in the workd when the money u printed have no backing of some comodities..BUT the most idiotic thing that bring us in this moment is the over use of sanctions to the US oponents and to the countrys that do not bent to US willwhy we should suport ignorants like you to live a life in a stile of grandor that is payed by the rest of the worlswhy should my country pay for US debt???? Moving away from an established currency like dollar will impact a countrys networking effect and create substantial barriers. [26][27], In May 2022, Egyptian Minister of Finance Mohamed Maait announced the intention to issue bonds in yuan to raise capital as an mechanism to diversify the sources of finance. One year ago, China, along with the BRICs nations of Brazil, Russia, India and South Africa, loaned money to a new financial institution they established and labeled the BRICs bank. [38], Before 1991, Soviet Union and India traded in rupee-ruble exchange during Cold War. Some analysts say this partly reflects the declining role of the US dollar in the global economy, in the face of competition from other currencies used by central banks for international transactions. North American countries Canada, the U.S., and Mexico round out the top six gold producers, collectively making up 16% of the global total. In recent months, Brazil and Argentina have discussed the creation of a common currency for the two largest economies in South America. Thats how easy your folks had it in the past. why we have to buy FED certificates in orde to cover US debt? Also, China just announced that it will stop purchasing our debt (holding dollars in reserve). This was largely due to the prevailing economic view at the time that inflation and real economic growth were linked (the Phillips curve), so inflation was regarded as relatively benign. [54], In March 2022, India and Russia entered for a RupeeRuble Trade Arrangement. A Bloomberg report dated on 26 April stated that Chinas slow move away from the dollar had reached a milestone. Most people just want to make a living and take care of their families in all countries! This is what the critics of CBDC really fears the most. Ranked: The Top 10 EV Battery Manufacturers, Visualizing Chinas Dominance in Rare Earth Metals, All the Worlds Metals and Minerals in One Visualization, All the Metals We Mined in One Visualization, How the Worlds Top Gold Mining Stocks Performed in 2020, Peak of supercycle from long-term trend (%), Trough of supercycle from long-term trend (%), Length of cycle from trough-to-trough (years). 162 70 comments Add a Comment The South American country announced that it would pay for Chinese imports in yuan rather than dollars, in a measure to save the countrys dwindling dollar reserves. The only thing that stands in the way of the world's final rejection of the dollar is the wavering trust that Saudi Arabia and OPEC have with the U.S. in assuring oil transactions remain denominated in dollars under the 1970's Petrodollar agreement. 3 reasons not to worry", "US dollars no longer a quote currency in Venezuela", "Fintech is the new oil in the Middle East and North Africa", " | | ", "Egypt Turns to the Chinese Currency With Yuan-Denominated Bonds | Egyptian Streets", "Egypt seeks to issue $500M in Chinese bonds, $1.5-$2B in sovereign sukuks", "Myanmar to Lower Dollar Reliance in Favor of Ruble, Rupee, Yuan", "Myanmar discussing with Russia use of Mir card for payments", "Government Favours Bolstering Tenge over De-Dollarisation, Says National Bank Chief", "kazakhstan holds rates after inflation surges to 6-year high", "Kazakhstan Hold Rates After Inflation Risks 'Strengthened', "Russia Cuts Dollar Holdings From $119 Billion Wealth Fund Amid Sanctions", "Exclusive: Russia likely to buy yuan on FX market in 2023 - sources", "With a sale of Chinese yuan, Russia kicks off 2023 forex intervention", "Amid Western Sanctions, India Explores Rupee-Ruble Mechanism for Trade with Russia", "India explores 'rupee-rouble' exchange scheme to beat Russia sanctions", " 50%", "China and Russia ditch dollar in move toward 'financial alliance', "China, Japan to trade in own currencies", "So Long, Yankees! China's first yuan-settled liquefied natural gas (LNG) trade was completed on Tuesday through the Shanghai Petroleum and Natural Gas Exchange, with about 65,000 tonnes of LNG imported from the UAE changing hands in the trade. US dollar: Russia, China, EU are motivated to shift away from USD - CNBC This will eliminate black budgets and quickly expose any corruption to the currency and public spending. The U.S. dollar has been the world's major reserve currency for decades, but that status could come under threat as "very . Additional details are likely to emerge by the summer, with the next BRICS summit set for South Africa in late August. "Project Sandman" describes a 100+ nation agreement that, when triggered, will see those nations simultaneously dump the dollar and abandon the "petrodollar" .. A CDBC will also better track proceed of crime which is problematic with paper currency. PS. The top 20 currencies in use today are the US Dollar, Euro, British Pound, Japanese Yen, Chinese Yuan, Canadian Dollar, Australian Dollar, Swiss Franc, New Zealand Dollar. Also read: Petrodollar vs Petroyuan: Can China overthrow US in the global oil market? When this decision is triggered, the dollar and all dollar-denominated assets will plunge to near-ZERO literally overnight. Why did you try sneaking into any country and see how that works out for you ! With the price of gold rising since the 1980s, global gold production has become increasingly widespread. [62][63][64] The same month, Brazil and China entered into a preliminary agreement to trade in national currencies instead of US dollar. During periods of US dollar weakness against major currencies, the US dollars share of global reserves generally declines since the US dollar value of reserves denominated in other currencies increases (and vice versa in times of US dollar strength). Malaysias Prime Minister Anwar Ibrahim met with Chinese President Xi in Beijing on March 31, where the two leaders discussed plans to weaken US dollar hegemony and even create an Asian Monetary Fund. "The decision by the two state-controlled companies to abandon the Europe-dominated Brent benchmark is part of a shift of Russia's oil sales towards Asia"https://t.co/dpYheR1mHQ, Ben Norton (@BenjaminNorton) April 4, 2023. This means that the Eurozone itself is abandoning the dollar, and preparing for transition to a new central banking system. The commodities-to-equities ratio recently hit a 50-year low. [72], On March 30, 2023, Deputy Chairman of the State Duma Alexander Babakov on the sidelines of the Russian-Indian Business Forum in New Delhi stated that the BRICS countries can create a new currency that will be backed not by gold but by real resources, including land and rare earth metals. The country entered the war only in 1917 and emerged far stronger than its European counterparts. Alexander Babakov, the deputy chairman of the State Duma, was then quoted as saying that the BRICS nations are in the process of creating a new medium for payments established on a strategy that does not defend the dollar or euro. Chinas President Xi Jinping traveled to Russia, where he pledged changes we havent seen for 100 years. I love the one where people say America was built on immigration! Folks the biggest sign is when those that trade in the dollar to acquire goods, no longer want the worthless paper because of US bully policies or they have totally lost faith in the US as a responsible steward of its currency and economy. This has prompted more interest rate hikes around the world, as central bankers try to increase the value of their own currencies. 23 countries and they named how many .hmm. Around 31% of the world's gold production in 2022 came from three countriesChina, Russia, and Australia, with each producing over 300 tonnes of the precious metal. There is no reason for Malaysia to continue depending on the dollar, Anwar said, in comments reported by Bloomberg. You need to get rid of the programs that govt is supporting for immigrants. Uh oh, someone is failing to realize the fact that in the past the immigrants pretty much just had to show up at the border, not be Chinese or sick, thats it. Countries Moving Away From Dealings With The US Dollar. This long-term decline is the result of mine closures, maturing assets, and industrial conflict, according to the World Gold Council. Mineral Production Value by State in 2022. Dedollarisation refers to countries reducing reliance on the U.S. dollar as a reserve currency, medium of exchange or as a unit of account. She condemned US sanctions and dollar hegemony and called for Latin America to break with the Monroe Doctrine. Despite major structural shifts in the international monetary system over the past six decades, the US dollar remains the dominant international reserve currency. In this past one year, there's a growing trend of countries sidestepping the US . Plus the fact that the fellow who first presented it still owns a huge %age of Bitcoin is a major fault. The above infographic uses data from Our World in Data to visualize global gold production by country from 1820 to 2022, showing how gold mining has evolved to become increasingly global over time. THE DEFRAUDNG OF ECONOMIC GLOBAL MONETARY MARKETS IN DISGUISE OF TERROR IN 1991? President Nixon ceased the direct convertibility of U.S. dollars to gold in 1971. The U.S. Dollar wont go away. [7], According to the IMF's Currency Composition of Official Foreign Exchange Reserves (COFER) survey the share of reserves held in U.S. dollars by central banks fell from 71 percent in 1999 to 59 percent in 2021. Luft said the U.S. took "unacceptable and unheard of steps" in recent weeks, such as effectively freezing Russia's central bank reserves and disconnecting Russia from the interbank messaging. Allowing anyone to come through? Sooklal says the list includes 13 countries that have formally asked to join and an additional six countries that have informally requested to be part of the alliance. [8], Since 2011, China is gradually shifting from trade in US dollar and in favour of Chinese yuan,[9] and in March 2018, China started buying oil in gold-backed yuan. Although the practice of gold mining has been around for thousands of years, its estimated that roughly 86% of all above-ground gold was extracted in the last 200 years. China's holdings of US sovereign debt dropped to $1.165 trillion in August, from $1.171 trillion in July, marking the third consecutive month of declines as the world's second-largest economy bolsters its national currency amid trade tensions with the US. While de-dollarisation has picked up pace in recent times, it is not a new trend. It is important that our national currencies are increasingly used in bilateral trade, Putin said. Ditching the Dollar: Will a new BRICS currency replace the US dollar Mapped: U.S. AFTER 911 WHEN THE MEDIA MENTIONED OIL AND IRAQ IT HIT ME AND I WAS RIGHT!! The U.S. dollar has dominated global trade and capital flows over many decades. Rogue Money via Steve Quayle Q Alerts. The joint statement of Kazakhstan government and national bank stated that their intent is to strengthen their national currency rather than focus on eliminating US dollars. Exchange rate fluctuations could impact trade, investment, and capital flows, particularly for countries with less developed financial markets or limited policy tools to manage exchange rate volatility. Why These Countries Are Dumping U.S. Treasuries and What It - RealMoney [3], After the establishment of the Bretton Woods system, the US dollar is used as the medium for international trade. What Is De-Dollarisation? Countries' Plan To Dump Dollar Explained - NDTV We need to worry about pronouns! Since the invasion in 2022, the ruble-yuan trade has increased eighty-fold. The share of US dollar reserves held by central banks fell to 59 percentits lowest level in 25 yearsduring the fourth quarter of 2020, according to the IMFs Currency Composition of Official Foreign Exchange Reserves (COFER) survey. Well look at South Africa after Mr. Mandela.. all respect to this great man. Secondly, to replace the dollar with another currency, it needs to have a certain degree of stability, liquidity, and acceptability. According to the Russian state-owned news agency Sputnik, BRICS is in the early stages of developing a new global currency that would circumvent the US dollar. [77][78], In 2022, Zimbabwe introduced a new form of currency made by gold, the Mosi-oa-Tunya, to reduce inflation since the local currency had considerably weakened. In addition, many countries and territories peg the value of their own local currency to that of the US dollar, exchanging it either 1:1 or at a different, but fixed exchange rate. China and Russia are trading in their own currencies. Saudi Arabia, one of the biggest exporters of crude is also mulling trade with China in yuan. It is followed by the Euro as well as the British Pound which are also used globally. What happens to the rest of the world? [50] On 11 February 2019, Russian deputy foreign minister Sergei Ryabkov stated that Russia would be interested in participating in INSTEX. Economic statecraft is a roundabout way of saying economic warfare. Concerned about Americas dominance over the global financial system and the countrys ability to weaponize it, other nations have been testing alternatives to reduce the dollars hegemony. De-Dollarization: More Countries Seek Alternatives to the U.S. Dollar Save my name, email, and website in this browser for the next time I comment. The king of currency, the dollar, is on shaky ground. AMERICAFIRSTBILL.COM- AMERICA FIRST PROJECT- THE REAL 911-AMAZONBOOKS.COM- BY FERNANDO FONTANEZ- TELLS THE REAL 911 STORY OF CHINA ATTACKING THEGLOBALMARKETS EC ONOM IC BLEEDING SINCE 1991 WITH MEDIA SLICK ACTIVITY COVERING UP THE NIXON/KISSINGER -SAUDI DEAL MONIES OF THE SEVENTIES IN FULL OPEARTIONAL INTEGRATION! Mean Girls meets de-dollarisation pic.twitter.com/wI554dhiFb. It will neutralize U.S. sanctions and will prevent the disruption to trade. [24][25], In August 2018, Venezuela declared that it would price its oil in euros, yuan, rubles, and other currencies. A CBDC properly backed by this public blockchain can provide the underlying value. The IMF, based in Washington D.C., is an organization of 190 countries, working to foster global monetary cooperation and financial stability around the world. Well, theyre right! Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology, Bitcoin Ethereum Trading Think! The next step in this war is the complete takedown of the Deep State. Also see: The World is Splitting Into Two Blocs, Each with Its Own Reserve Currency Money Market Funds/Accounts. I DO agree with you that were in for interesting times ahead. Switzerland Adds to List of Countries Dumping Dollar / Euro [79][80] The governor of the Reserve Bank John Mangudya said that the gold coins will contain one troy ounce of 22-carat gold, and that trade could be carried out both locally and internationally.[80][81][82][83]. The group of five economically-aligned countries collectively known as BRICS is reportedly on the cusp of a massive expansion. And thats just for starters. The greenback has been facing competition for long. Explained: What Is Dedollarisation & Why Are Countries Dumping - MSN As an increasing number of countries move away from the dollar, lets take a better look at what exactly is de-dollarisation, which countries are practising it and is it a viable strategy. Drugs from Nigeria . History is full of sudden currency collapses. Protect your wealth my friends. These Countries Are Dumping the Dollar - The Organic Prepper The new financial agreement could be seen as soon as in August when the countries meet for their annual summit in South Africa. As the Financial Times acknowledged in a March report that these were historic developments and part of a transition to a multipolar currency world.The chair of the Financial Times editorial board and US editor-at-large, Gillian Tett, wrote that US banking turmoil, inflation and looming debt ceiling battle is making dollar-based assets less attractive. )", "How a 1944 Agreement Created a New International Monetary System", "Sanctions Programs and Country Information | U.S. Department of the Treasury", "Controlling Inflation: A Historical Perspective", "Measuring Worth Purchasing Power of Money in the United States from 1774 to 2010", The Stealth Erosion of Dollar Dominance:Active Diversifiers and the Rise of Nontraditional Reserve Currencies, "China Prepares Death Blow To The Dollar", "Beijing-Riyadh cooperation advances de-dollarization process", "WSJ News Exclusive | Saudi Arabia Considers Accepting Yuan Instead of Dollars for Chinese Oil Sales", "China's Xi calls for oil trade in yuan at Gulf summit in Riyadh", "China's attempt to challenge the USD's dominance as Xi Jinping calls for oil trade in yuan", "China defends Ukraine war stance, aims to deepen ties with Russia", "Four European Gas Buyers Made Ruble Payments to Russia", "Four European gas buyers made rouble payments to Russia -Bloomberg News", "Ghana plans to buy oil with gold instead of U.S. dollars", "Ghana plans to buy oil with gold instead of dollars", "Putin and Erdogan agree to boost cooperation, some rouble payments for gas", "Gazprom says it has signed deal for China to pay for Russian gas in national currencies", "Value of Russia-China energy trade up 64%, deputy PM says", "Explained: Putin's demand for trade in rubles, and how it could work", "Saudi Arabia Open to Talks on Trade in Currencies Besides Dollar", "Saudi Arabia just said they are now 'open' to the idea of trading in currencies besides the US dollar does this spell doom for the greenback?

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