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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)

#591

Post by pegasus »

nonethewiser wrote: post #514
pegasus wrote: post #474

Earlier quoted context omitted.

I wouldn't describe integrating further to the point of becoming more like the US as "unstable". And that's the most likely outcome, which should make the EU more trustworthy as a partner, not less. EDIT: by "like the US" I mean federalization. This video explains it well: https://www.youtube.com/watch?v=HnarX3HPruA

>I wouldn't describe integrating further to the point of becoming more like the US as "unstable". More like the US, as-in a country? So also more like Germany, China, South Africa, etc. You are making a false equivalence - being like the US in one extremely non-US specific way does not mean you must be like the US in every other way. I'm not sure you even understand what I'm saying - this has nothing to do with the U…

I was referring to the possibility of the EU becoming a federal union which acts like a country. Yes, like the US and Germany, but unlike China and of South Africa I don't know enough to say.

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

#592

Post by footy »

mlindner wrote: post #556
mythical_39 wrote: post #407

Earlier quoted context omitted.

> ICE has widespread support for what they are actually doing Minnesota would like to have a chat with you.

[flagged]

ICE is shooting bystanders in the face, blinding teenagers, and tear-gassing infants.

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

#593

Post by slongfield »

kevinak wrote: post #510
parsimo2010 wrote: post #193

Earlier quoted context omitted.

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?

The other thing about Bitcoin is that it's deflationary, which leads to people holding the currency rather than spending it, as predicted by Econ 101.

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

#594

Post by jyounker »

lpcvoid wrote: post #543
comonoid wrote: post #515

Earlier quoted context omitted.

... such as usa?

I have many moral problems with that scenario. I used to live in the US a long time ago. The US is sick; there's a mad king at the top who doesn't have the well being of the nation in his interest, and he is driving the world towards war with every passing day while dividing his own people. War with the US isn't a clear cut "good vs evil" situation as the EU vs russia would be, it would be a utter tragedy, not wanted…

The rot is much deeper. Donald Trump was impeached twice, and both times the Republicans voted to acquit him.

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

#595

Post by tdrz »

Beretta_Vexee wrote: post #565
selectodude wrote: post #159

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.

It's more of a payment processor issue than a device issue. If you are in a country or area with a large Chinese population, you can usually pay easily in RMB with Alipay. If you use Visa and Mastercard, you are subject to US regulations, sanctions, and embargoes. Many alternative payment processor exist, PIX in Brazil, UPI in India, etc. There are several systems in the EU: Wero, Bizum, BLIK It is urgent that Europe…

An integrated European payments system should be very high up on the priorities list of the European Commision. I believe every EU country already has its own version of a QR code payment, I don't know why can't they connect "easily" connect them.

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

#596

Post by legitster »

adhamsalama wrote: post #561
legitster wrote: post #542

Earlier quoted context omitted.

Well, that's just it. America has not so brazenly claimed territory for such selfish reasons in well over 100 years. Which is proof enough that America is pulling up the ladder on Pax Americana.

Are you familiar with a country named Iraq?

Obviously, but we're comparing apples and oranges here.

- Iraq was never a major oil concern for the US. Perhaps maybe stabilizing global oil prices - but the primary beneficiaries were actually our European and Asian allies.

- We never just "took" the oil for our domestic market (which is what we are basically doing in Venezuela)

- Even policymakers who have publicly admitted that Iraq was a massive intelligence and political failure all agree that regional stability was always the main goal.

Similarly we were in Afghanistan for-freaking-ever which had no clear resource benefit or even clear goal.

I would even go so far as to say that for most of the 20th century, America's foreign policy interventions are more easily attributed to our failed role as "World Police". We were brought into Iran because of the British, we were in Vietnam because of the French. Kuwait because of Saudi Arabia. Korea and Lebanon directly.

So while yes you could paint a broad brush and say all of this indirectly was to expand America's "empire", but as an international alliance where America carries the big stick, the US actually carried out a lot more on behalf of the overall alliance than one would realize.

That alliance that the US is now trying to dissolve.

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

#597

Post by jazzyjackson »

JumpCrisscross wrote: post #310
touwer wrote: post #51

The US century is already over. It's just that a lot of US citizens don't see that. De-dollarization will happen when one is a traitor to it's allies

> US century is already over Maybe, maybe not. We're currently the Soviet Union in the 1970s. Gerontocratic. Sclerotic. Hyped up on a new mythology. And economically uncompetitive on several levels, with the future (then computers, now elecrification) sweeping past us to our applause. Unlike the Soviets, however, we can see it happening and debate it. If '26 and '28 change course, the damage will still be done. But t…

How do you suppose we change the minds of the third of Americans who like having a Gestapo

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

#598

Post by yoyohello13 »

mlindner wrote: post #556
mythical_39 wrote: post #407

Earlier quoted context omitted.

> ICE has widespread support for what they are actually doing Minnesota would like to have a chat with you.

[flagged]

It's kind of mind blowing people hate immigrants so much they are willing to burn their own country down to get rid of them.

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

#599

Post by jazzyjackson »

mlindner wrote: post #362
JumpCrisscross wrote: post #310

Earlier quoted context omitted.

> US century is already over Maybe, maybe not. We're currently the Soviet Union in the 1970s. Gerontocratic. Sclerotic. Hyped up on a new mythology. And economically uncompetitive on several levels, with the future (then computers, now elecrification) sweeping past us to our applause. Unlike the Soviets, however, we can see it happening and debate it. If '26 and '28 change course, the damage will still be done. But t…

I'd agree with most of what you said, but there is no "raising a Gestapo". ICE has existed for 25 years. And the laws that give it permission to act haven't changed. It has gradually grown over the decades but what it fundamentally does has not. What's new is finally the federal government pushing back against locales that refuse to allow local police to cooperate with federal law enforcement by means of massive infl…

ICE has not been disappearing people to meet quotas for 25 years.

"Terrible things are happening outside. At any time of night and day, poor helpless people are being dragged out of their homes. They're allowed to take only a knapsack and a little cash with them, and even then, they're robbed of these possessions on the way. Families are torn apart; men, women and children are separated. Children come home from school to find that their parents have disappeared. Women return from shopping to find their houses sealed, their families gone."

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

#600

Post by graykey31 »

drinkzima wrote: post #78

The issue is that there isn't a great alternative. The euro is difficult to manage because of the diffuse control, pound an even smaller economy, RMB just not global enough (and tough argument to see that happening), gold/bitcoin/whatever not the same inherent stability. Indeed the dollar weakening, but nothing really to take it's place.

CHF?
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