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

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

#571

Post by jollyllama »

horsawlarway wrote: post #468
jollyllama wrote: post #156

Earlier quoted context omitted.

Nothing. The Dollar is antifragile. The worse it gets, the more entrenched it becomes. [0] [0] https://en.wikipedia.org/wiki/Gresham%27s_law

Your linked page doesn't actually appear to render any sort of compelling argument for this. In fact - the entire argument seems to more accurately hinge the conditional left off the main saying, so the full description is: "Bad money drives out good if they exchange for the same price." But that requires a legal structure that enforces the disparity, and the summary of the whole thing basically boils down to: --- If…

In practice, everyone wants to spend their dollars, not their gold, or their bitcoin, or their Euros, and so dollars it will be. What else is there that anyone both with pay with and will be accepted by the other party?

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

#572

Post by clutchdude »

Workaccount2 wrote: post #534
KaiserPro wrote: post #399

Earlier quoted context omitted.

> probably want to model the US Dollar after the Renminbi. I don't see that. Given trump's history, he thinks that going back to tariffs will allow massive tax cuts. As he trades in real estate, tariffs are inconsequential for him

Trump is a populist. He supports tariffs for the exact same reason Bernie Sanders does. There is a reason so many bernie bros jumped to camp Trump in 2016 when (globalist) Hillary won the nomination. There is no secret or conspiracy going on here. Trump is a populist president and is unsurprisingly doing populist things, elected because of his populist stances. At this point you have to have stabbed your eyes out and…

There's a difference between Trump says populist things and Trump does populist things. Much like "saying things I want to hear" and "saying things I need to hear."

For your factory worker example, at exactly a year into his presidency, we've yet to hear populist points on:

- a comprehensive overhaul to address medical costs for workers

- point-by-point implementation of tariff revenue in reshoring and subsidizing of industry

- how AI is going to support manufacturing gains to the degree we can become competitive with China

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

#573

Post by samiv »

pendenthistory wrote: post #408
parsimo2010 wrote: post #138

Earlier quoted context omitted.

As time goes on, fewer people are alive that predate the EU and more people will perceive it as a lasting institution. Additionally, we've now seen the EU survive the departure of a major economic power (the UK). More people are certainly willing to believe in the stability of the EU now. Another major currency is the Yuan, and some countries may be as willing to trade in Yuan to improve relations with China, so perh…

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.

I think the people on this continent have a lot more in common than they might first realize. We certainly have our own cultures and language but beyond that I think we all share a certain European heritage, core culture and values.

There's a certain stigma especially in Germany caused by the WW2 and the the leadership has been complacent to rely on Bretton Woods agreement. But as we're seeing now the geopolitics are doing a 180 degree turnaround and given these circumstances I expect sooner or later Europe will collectively understand the utmost importance to com together and to regrow and redevelop the military to support independence and not having to bow down to any master in the East or int he West.

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

#574

Post by arbuge »

mullingitover wrote: post #383

I remember studying pre-WWI history, and particularly how carefully Bismarck arranged German foreign policy like he was the diplomatic equivalent of Bobby Fischer. Everything was situated perfectly and Germany was totally content. Then along came the absolute moron Wilhelm, and he managed to Leroy Jenkins Germany's beautifully arranged relationships into an aggressive, tactless nightmare where all Germany's allies we…

Who would you say the Bismarck equivalent for the USA is/was?

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

#575

Post by arbuge »

maerF0x0 wrote: post #88

China is intentionally undermining the dollar in order to try to make the Yuan the world currency[1,2,3]. My current hypothesis is that the growth in the _price_ of the US Stock market (eg S&P 500) is actually devaluation of the dollar. Compared to real money (Gold) the S&P500 is down over the past 10 years. [4] 1 - https://www.reddit.com/r/economy/comments/1o2s6qp/yuan_has_s... 2 - https://www.economist.com/china/20…

> Compared to real money (Gold) the S&P500 is down over the past 10 years.

Speculation can always drive the price of gold way up past its real value.

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

#576

Post by mothballed »

Spooky23 wrote: post #225
mothballed wrote: post #84

Earlier quoted context omitted.

The 10th amendment limits the federal government to the enumerated powers. So your argument that it "isn't prohibited" isn't how this works. You have to justify it under an enumerated power (which, you might well be able to do, though this is debatable).

From Article 1, Section 8: Powers of Congress: The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; To borrow Money on the credit of the United States ; To regulate Commerce with foreign Nations, and among the s…

There's no serious argument that a central bank is unconstitutional facially

is not the same as

There's no serious argument that the Federal Reserve is unconstitutional as applied.

The latter is certainly debatable, especially insofar as the fed (in their own words) claims to operate independently when in fact the constitution delegates the powers you cited to congress and the execution of powers of congress to the executive.

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

#577

Post by eigenspace »

krupan wrote: post #235
rlt wrote: post #110

Earlier quoted context omitted.

Bitcoin

People downvote this but Bitcoin has some very nice properties: - easy to verify/impossible to forge (as opposed to gold and paper currency) - fixed supply (as opposed to paper currency, oil, and even gold) - easy to transfer from one party to another (as opposed to gold, oil, and physical cash)

Just because frivilous money printing is bad does not mean that a fixed supply is good. A fixed supply is a terrible property to have in a money system. It's very beneficial to have a money supply that can grow or shrink according to demand.

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

#578

Post by mullingitover »

saulpw wrote: post #412
russdill wrote: post #374

Earlier quoted context omitted.

We print money, send it around the world, and the world sends us goods. It was a great thing.

For us individually. For us collectively it was a horrible thing. We lost the means and incentive to produce anything durable, including a healthy, educated, sustainable society.

People planning the post-WWII system wildly overestimated how how disciplined Americans could be.

The whole point of the US transitioning to a service economy was that it would upskill the workforce into the world's Delta Force team of highly educated scientists, engineers, researchers, etc. The rest of the world would handle the boring stuff like actually manufacturing the beautiful inventions designed by the US.

The problem is that a lot of the US populace is gung-ho patriotic and willing to die for their country, but absolutely refuses to learn math or generally do their homework for their country, which is what's actually required for this whole scheme to work.

I'm paraphrasing the shockingly astute observations of this guy[1].

[1] https://www.instagram.com/reel/DD-MPWAPoaT/?hl=en

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

#579

Post by lpcvoid »

blell wrote: post #562
lpcvoid wrote: post #463

Earlier quoted context omitted.

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.

Spanish here: I wouldn't go to war even for my own country, imagine for the likes of France or Germany.

80 years ago we were the bad guys, and far more brave people than me, from other countries, stepped up to curb the evil. This time us Germans need to be on the right side.
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