End of Dollar being moved along much quicker? - Page 4

#31

Myfingershurt , 03-16-2022 12:08 AM

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I have to think that not even China would want the dollar to collapse. That would pretty much make all the US debt they own worthless wouldn’t it?

#32

avi8er , 03-16-2022 05:07 PM

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Quote:

Originally Posted by Bluesteal

Yes, but the Saudi's are really upset with what we are doing, we have really weaponized the dollar. Did you know we are now stealing dollar reserves from other countries to pay for the interest on our debt so we dont default?? So countries are seeing this and will want to get out, the country seeing this the most is Saudi Arabia. This is why they are having meetings with China and announcing that they are considering the Yuan for Oil. Have you heard of the BRICS countries? Brazil, Russia, China, India, South Africa. Just those countries alone will use the Yuan, then the US defaults and then a domino effect and everyone gets out of the dollar. This is the de-dollarization. When the US defaults, even our allies wont be left holding the bag. There is no way around this... The petro-dollar is what kept our standard of living so high compared to the world, now we lose all that power and the dollar will have hyper inflation and it will impoverish most of us. When we default, its over. Credit freezes up, no more lending, $30 milk, $500 to fill your gas tank, $1000 to fill your truck,probably more. its not gonna be pretty. We will be Argentina and just another country, no more good standard of living. Now is the time to consider a hedge on your money.. thats all

Jesus! I better start learning Mandarin Chinese!

#33

avi8er , 03-16-2022 05:08 PM

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Quote:

Originally Posted by rickair7777

Yes. China is no beacon of hope and stability, especially compared to the US.

I guess that depends on who you ask.

#34

Round Luggage , 03-16-2022 05:25 PM

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They are just gonna like send the dollars back man.

#35

FNGFO , 03-16-2022 05:34 PM

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Quote:

Originally Posted by rickair7777

Dude. Who do you work for, the SVR or GRU?

The entire western world, and some of the east just cut RU off.

Yes, and you just unintentionally listed one of the main reasons some pretty important parts of the world are thinking about moving on from the dollar.

Much like the run on Canadian banks after Trudeau’s seizure of money and freezing of accounts the rest of the world isn’t overly impressed with getting kicked out of the financial system on the whim of the politicians du jour. Add to that some global politicking we’ve been up to on and off again for a few decades and leaving the dollar might seem attractive.

I have no idea if the run on the Canadian banks reversed itself, but this may be a temporary reaction to such extreme measures being used for the first time on another nation.

#36

flyprdu , 03-18-2022 08:29 AM

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These were the same prophets that were declaring $200 dollar oil 2 weeks ago.

It's all propaganda all the time with these people.

#37

DropTank , 03-18-2022 04:50 PM

Banned

Quote:

Originally Posted by Myfingershurt

I have to think that not even China would want the dollar to collapse. That would pretty much make all the US debt they own worthless wouldn’t it?

China wants the dollar to collapse and actively tried to help it collapse during the 2008 collapse.

Yes, they would lose 5 TRILLION dollars.

To them, it would be worth every penny.

#38

SonicFlyer , 03-18-2022 07:12 PM

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Quote:

Originally Posted by DropTank

China wants the dollar to collapse and actively tried to help it collapse during the 2008 collapse.

Yes, they would lose 5 TRILLION dollars.

To them, it would be worth every penny.

This makes zero sense. They would go broke if we do. They rely on us for business.

#39

Myfingershurt , 03-18-2022 09:13 PM

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Not as much as they used to. They’ve diversified quite a bit and now have unbalanced trade agreements with countries all over the globe.

#40

opheims , 03-21-2022 07:59 AM

Line Holder

Quote:

Originally Posted by Bluesteal

Now for the first time, this 1973 Petro-dollar agreement may be broken as the Saudi's would accept Yuan. Other countries would follow and buy Yuan instead of dollars to buy that Oil from Saudi's and other OPEC countries. Now, what do you think would happen to the dollar as it would no longer be needed to purchase Oil??? Thats the Petro-dollar bud, dont get it confused with the FED. Its just a transaction to buy Oil.

They'll let China pay in Yuan, but the oil is still priced in dollars and the amount of Yuan they pay is still going to be based on the current exchange rate of RMB to USD, right? I'd guess China is trying to pay in RMB because the exchange rate right now is below 7:1, which is low for RMB:USD.
I agree, the petro-dollar has been great for proliferation and strength of USD. I don't think this development will bring about the overnight collapse of USD. The price has to be standardized on something concrete, regardless of what the country is paying with.
Longer term effect is like trying to forecast the weather next year.