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De-dollarization: Is the US dollar losing its dominance? (2025)

jpmorgan.com

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Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#501
post #217

Earlier quoted context omitted.

> Additionally, we've now seen the EU survive the departure of a major economic power (the UK). I don’t really understand the impact of Brexit on the euro, as Britain wasn’t on it. But clearly they were a key part of the EU. It’ll be interesting to see which side regrets the move more.

The answer is already clear: Britain regrets the move more. In June 2025, 56% of people in Great Britain thought it was the wrong decision: https://www.statista.com/statistics/987347/brexit-opinion-po... It's hard to imagine this number would be going down after recent events like USA suddenly threatening arbitrary new tariffs on the UK.

I was there about 8-10 years ago and again for a few weeks just recently.

Perception is hard to measure objectively, but the UK does not feel like it’s on an upswing when compared to last time I was there.

Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#502
post #297

Earlier quoted context omitted.

>we know what a de-dollarized world looks like - imperialism Is this some kind of joke? Or is it only imperialism when other countries besides the US do it?

I know it's pretty common shorthand to describe American post-war interventions as "Imperialism". But Imperialism before Bretton-Woods was a very specific and intentional international policy - literally conquering and/or colonizing land to secure resources. Which is a bit different than America's "spheres of influence" thing today. The two are very linked - the tacit agreement of the postwar order was for America to…

Venezuela would like a word

Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#503
post #329

Earlier quoted context omitted.

Why is this getting downvoted?

Mostly an US audience here. A deeply divided country on politics. The wording doesn't help matters either. It's unfortunate the same division tactics the US has been facing are working elsewhere too, however.

Mostly an US audience here.

I don't think mostly is true? Obviously it depends a lot on the time of day, but there are also a lot of Europeans on the site. Also, most comments here seem to be critical towards current US policy. So, I think there is quite a lot of manipulation going on, since the downvoting/flagging does not really match the comment section.

Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#504
post #114

Earlier quoted context omitted.

There is a very sudden shift though - those options have existed but not generally been seriously considered. The US was seen as a bastion of stability and while sanctions could drastically impact a country's ability to trade due to the reliance on US currency exchange it has arguably been used relatively scarcely. The change is that suddenly the US isn't a bastion of stability and having an independent trading curre…

The U.S. is as stable as it gets. It has been one continuous republic and has 250 years of legal stability and a history of paying its debts. It has 4.2% GDP growth, with the largest economy in the world and growing.

> 250 years of legal stability

America was never a stable country. That 250 years includes:

* A decade of chaos under the impotent Articles of Confederation.

* The deliberately engineered election of George Washington to create the illusion of political stability, a reign which only ended because George stepped down voluntarily.

* An immediate constitutional crisis the moment a competitive election happened, causing the election of a President and Vice President from opposing political parties (imagine a Harris - Trump presidency). The ensuing chaos resulted in SCOTUS unilaterally declaring itself the final arbiter of the law.

* The Thomas Jefferson presidency, which in many ways is the alpha release of Trump.

* The Civil War, started specifically because the losing faction of slaveholders was angry at losing, and ending with the losing faction losing so hard the counter rolled back into flawless victory. They surrendered, then assassinated the President and got his party to give up on everything he stood for.

* Economy-destroying Smoot-Hawley tariffs, which are basically what Trump is doing now.

* A spectacular near-miss in which the country's business elites attempted to assassinate a Progressive president and only failed because the Marine they selected as their Hitleresque dictator ratted them out.

* Widespread civil unrest deliberately created to force America to reckon with its racist past and undo what the South had managed to convince the North to allow them to do after Reconstruction.

* The Richard Nixon presidency, which in many ways is the beta release of Trump.

* Too many foreign invasions to count.

In the entire history of America I can think of maybe 3 brief moments of political stability that weren't outright engineered fantasies. The two that are relevant to modern times are the 1950s and the 1990s. Both of these were the result of America winning a war of conquest.

Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#505
post #217

Earlier quoted context omitted.

The answer is already clear: Britain regrets the move more. In June 2025, 56% of people in Great Britain thought it was the wrong decision: https://www.statista.com/statistics/987347/brexit-opinion-po... It's hard to imagine this number would be going down after recent events like USA suddenly threatening arbitrary new tariffs on the UK.

>In June 2025, 56% of people in Great Britain thought it was the wrong decision It's not so clear when you consider that 48.1% of the original referendum voters wanted to stay in the EU. I'm honestly very surprised by this poll, 8% change is pretty minimal considering the turmoil the country has gone through since 2016. How much of this can be explained by older voters dying in the intervening 10 years, I recall that…

Half the issue is the definition of ‘voter’. Turn-out is abysmal and polling has been crap in major ways. Calling someone eligible to vote a ‘voter’ is probably only right 50-60% of the time.

https://commonslibrary.parliament.uk/general-election-2024-t...

Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#506

Earlier quoted context omitted.

Interestingly, there seems to be more good will and amiable vibes between EU nationalities than within the US even. Even being enemies for a thousand years, I don't doubt that Swedish and Danish men would go to war for one another, or French and German. It's complicated yes, but the continent is more unified in spirit than it may seem to an outsider.

German here: I'd go to war (and likely will, with how it's looking currently) for any country that shares our values and is an ally or friend, that's being attacked by an evil force such as russia. And that of course includes my french brothers to the west.

Finnish reservist here in Germany. Ready to go. Prost!

Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#507
post #233

Earlier quoted context omitted.

It’s not just that This is a gradual decline. From 70% in the 90s to 60% today. Today there are more options like the Euro that didn’t exist in the 90s. People can argue over EU economic stability, but it’s there as reasonable option.

EU can easily pull the plug on Euro as a reserve currency if they confiscate the money of a certain country and give it to another one. That would be the "front fell off" moment for Euro.

Except they didn't and instead borrowed money for the other country. But more importantly, there seems to be a process in place, where a collective of rational actors makes choices, rather than someone who states he can go to war because he didn't get the Nobel Peace Prize.

(Still disappointed that the winner of the FIFA peace prize wants to go to war /s.)

Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#508

The international value of the dollar as a reserve and trade currency is inherently tied to the behavior of the US Government and the Federal Reserve. The behavior of the US Government has been very unusual lately, and the independence of the Federal Reserve is actively being challenged. So draw from that whatever conclusions you wish.

Why is the independence of the Federal Reserve sacrosanct? For one, they should have oversight and they should have accountability.

Not ever passing an audit of any kind. And the FED chairman spending $2.5B on renovations to an office complex. While misleading congress about the kinds of renovations.

There should be less 'independence', if it means zero accountability.

Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#509
post #453
post #217

Earlier quoted context omitted.

The answer is already clear: Britain regrets the move more. In June 2025, 56% of people in Great Britain thought it was the wrong decision: https://www.statista.com/statistics/987347/brexit-opinion-po... It's hard to imagine this number would be going down after recent events like USA suddenly threatening arbitrary new tariffs on the UK.

> In June 2025, 56% of people in Great Britain thought it was the wrong decision: How many thought it was the right decision at the time? https://en.wikipedia.org/wiki/2016_United_Kingdom_European_U... Remain was 48% so it's actually not that large of a swing in total. It's not like it was 5% remain and now it would be 56% or something. But it does indicate if the referendum was taking place today it might swing the…

Note the turn out too. 72% isn’t great for a major change like this. The non-voters would easily swing it either way as a landslide.

Re: De-dollarization: Is the US dollar losing its dominance? (2025)

#510

Earlier quoted context omitted.

The major benefit of the US Dollar is that you can do things with it. Between export controls, currency controls, laws on foreign ownership, etc, china can pay me all the RMB in the world. I still can’t do a whole lot with it.

This is part of the same reason many people don't use Bitcoin- you can't actually do much with it because retailers don't accept it. But China is definitely thinking about how to fix that problem, and soon they will make it possible to pay directly in CNY in other countries. Once you can buy things with it, the CNY is attractive from a practical perspective. A lot of your stuff is already manufactured in China, once/…

Funnily enough you can use Bitcoin at most merchants that use a Square PoS device, which is like 25% of merchants in the US. It just takes time for folks to change their behaviors. And why would they, if they're getting X% cashback on all purchases using their credit cards?
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