Bert Hofman of the East Asian Institute at the National University of Singapore says countries will be more comfortable in holding their reserves in other means, such as in euros and gold.
Bert Hofman of the East Asian Institute at the National University of Singapore says countries will be more comfortable in holding their reserves in other means, such as in euros and gold.
its inevitable, the U S dollar wont be a safe haven currenciy anymore…
Business mans world network you freezing that’s never allowed
They move there money where they are treated best , LMFAO 🤷🏻♂️ , common sense stuff
Bullshit. Euros and gold vs. dollar?
@Jethro nope we owe little to other countries and it’s about maybe 2 trillion to china I think but no we don’t owe Russia or India or anything like that
@Bow Tye Russia has the largest resources of Natural Resources which every country and every one in this planet requires..
No comparison of a social media company or a phone company being worth a lot..
Elon Musk has not created any profit in any of his ventures and see his net worth.
All fake ..
Once the fake debt ridden economy collapses,then all dominoes will fall
It’s all fake.
@MSD prakash funny no Russia doesn’t and sure other countries have more from India to Africa has more than Russia and Russia problem is the climate bc most is so cold that most of the land is not used and can’t grow like farming and water also but negative 60 below zero and what you think is Russia can live off of taking from Earth and it being better and can Russia become better sure but not run like it is with oligarchs and Russia government caused lots but why Russia is not better your right it squandered it
@Bow Tye, you are a fool if you think the fiat currency backed by sentiment (Affected by inflation) will go up against precious metals and survive
@john paul well one metal is just as good as another and take any metal well gold is a better conductor than copper and it goes on and on to silver nickel but all of these can replace each other and already do in lots of things you buy and sure are precious metals useful sure but it’s not exactly something that especially short term like ten years is not important so long term yes but short term no and while more efficient ways come about and precious metals are market driven meaning if the market gets flooded by one it’s price drops
Of Course, US hegemony and hypocrisy had it coming
All Chinese will not want to keep currencies or bank a/c in those countries that sanctioned Russia. As we all know who US will go after next.
Citizens of every country which isnt on the best buddy list of the US should consider how to protect their wealth from brutal western sanctionism
Chinese government itself hold 3 trillion dollars in foreign reserves and other 1 trillion in US treasury bonds.
European Union is being naive, of they declare neutrality among US and China then Chinese can shift 2 trillion into Euros
Russia sold off all it’s US treasuries in 2018 and bought over $120 billion in gold. The US deficit is over $5 trillion. Sadly that’s the reality, because an average American will pay for that debt, whether by means of income tax or VAT. Embrace yourselves.
30 trillion not 5 champ
120 billion is gold is not much and one of the reasons we switched from gold backed yes we used to be backed by gold well two problem one was gold well we have literally trillions in gold it’s heavy and takes lots of space and second was it was sold by the penny weight bc it’s not rare but yes the USA has trillions in gold and it’s just reserves bc so much was saved up bc we used to be gold backed
@AUGUSTUS OMEGA ~ Deficit, not the overall debt. I’m aware that the overall debt is $30 trillion, I was highlighting the spending over production.
@Jethro you forgot inflation as the most certain way Americans will repay that debt…and as we de-dollarize and Eurasia leans toward Euro oil transactions…that inflation will soar in the US
@AUGUSTUS OMEGA ~ Absolutely.
A failing state indeed….
India.. Indian… Billionaires..
Need to. Watch…
That explain why Sweden federal reverse is pushing their change into e-krona. I remember Us bought Sweden loan bonds, just keep down their own bonds debt. I can see that yuan can be the next thing.
Already we’ve companies whom owns by the Chinese. Volvo is owned by Geely whom is an Chinese company. The Chinese government bought Norwegian air during the covid-19 crisis.
And the Saudis is making deal with China to deal in RMB, when they thought they failed their commitment in Yemen. The Iran deal is failed and Venezuela is making an deal with Us, but I think they stalling enough so the petro dollar would demise. And when that happen, WW3 starts.
The problem is that they dezimated the Venezuelan Economy for so long they cant even provide enough oil
End of the Petrodollars.
End of Warmongering from Amurica
It’s called the domino effect and Asia has already done this.
Africa and the Middle East are likely to follow suite…
A part from the Gulf the aforementioned regions are of negligible consequence to the global economy compared to the Atlantic and East Asia
@Rohan Indra so we keep hearing… But either way, the West is screwed!
I barely see any US goods in Africa apart from PCs, Boeing and guns. Africas economy is dependent on Chinese goods. What they have done to Ethiopia and sahel we will not forgive.
Bye Bye, USD!
The world will be a better place without using the US dollar.
With the blatant sanctions impose on Russia and unilateral actions taken by the US and the West in hijacking the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system banning Russian banks from using the mechanism to trade, many countries would contemplate using alternating system of trading and do away with the US currency as a medium of trade and exchange with one and another for fear of US sanctions against them.
I think it’s about time we rename “think tank” into “think pot” for what it’s worth.
Isn’t it obvious?
What I learned in life is once you start talking about “divorce”, divorce is coming. The break up began before the conversation turned to “divorce”.
The world “IS” divorcing from the dollar. Within the next 5 yrs the world will have established a multi-system free of the dollar and its propped up sanction powers. The US/Ukraine war has tipped the tipping point. No country or multi-national corporation wants their economies hostage to US political temper tantrums and conniving agendas. Eventually every spouse gets tired of the manipulation and control
De-dollarization is imminent for the future of all the countries
😯👌👌👌💪💪💪✌🏻✌🏻✌🏻😁
Ki ok
It’s over for petrodollar system
You think anyone trust USA or the west after the money they stole illegally from Russia. This is why countries and individuals are moving away from their currencies it can’t be trusted because the government will use it as a weapon
Yup, we are working on it, pretty in progress.
US Dollar would’ve reigned forever had the US not decided to use it as a knife against other countries’ throats. We need a neutral currency
We’ve been hearing about “de-dollarization” for years. Yet every time there’s a world crisis, even if that crisis started in the US i.e. 2008 the Dollar goes up in value…There’s nothing to replace it. Crypto? LOL…Even the Euro, which is basically pegged to the USD….The Yuan will never be anything but a novelty currency as long as the CCP is in power and their books are closed and their currency controls are in place… Saudi Arabia is just playing with the US trying to get attention after years of relationship neglect….
Use your own currency, why Fucking doller ……you making American rich….. I hate doller
Biden has no clue. He is worst person, who freezes foreign reserves.
Take dollar off’ make U.S poor and starve 😅🤣
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