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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)

#681

Post by diordiderot »

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…

> raising a Gestapo

If they were really Gestapo you wouldn't see people tailgate them in a Subaru or scream in their faces

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

#682

Post by throwaway7644 »

slongfield wrote: post #593
kevinak wrote: post #510

Earlier quoted context omitted.

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.

We've witness deflationary forces in computer hw for decades and no one is holding off their purchases. Time is scarce and it ultimately forces consumption because otherwise, what would you be saving for?

Don't need Econ 101 to understand this basic reality.

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

#683

Post by ptx »

yieldcrv wrote: post #347

so nobody read the article and instead regurgitated pre-existing sentiment, while forgetting the golden rule of journalism: if an article ends in a question mark, the answer is no. > the greenback dominated 88% of traded FX volumes — close to record highs — while the Chinese yuan (CNY) made up just 7%, according to data from the Bank for International Settlements (BIS). > Likewise, there is little sign of USD erosion…

That first sentence starts with "In 2022,", so presumably the numbers are different now, but I couldn't find anything in the article about how things have changed in the last four years.

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

#684

Post by ahmeneeroe-v2 »

RealityVoid wrote: post #352
nubg wrote: post #329

Earlier quoted context omitted.

Why is this getting downvoted?

My money is that influence campaigns are active on HN and try to mold the discourse. The whole internet is manipulated to hell, and HN is a prime target, you have a bunch of smart people that probably have oversized influence, how could you NOT try manipulating this place?

Yes to manipulation.

But also it asserts factually a lot that isn't true, which is why I downvoted.

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

#685

Post by djeastm »

mullingitover wrote: post #578
saulpw wrote: post #412

Earlier quoted context omitted.

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. Th…

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

We had the post-WWII optimism and then the post-Cold War optimism clouding the judgment of an entire country.

I kind of wish we'd been more curmudgeonly like the Europeans.

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

#686

Post by [deleted] »

lpcvoid wrote: post #646
ubertaco wrote: post #624

Earlier quoted context omitted.

As an American, a sizable number of Americans are lining up to join ICE under the promise of money. And also, our whole military recruitment strategy here outside of drafts has been "the GI bill" – paid tuition in exchange for lining up to go to war. I don't know that the gap in morals is as wide as you think.

But is it 30k people a month, for years on end (or rather 75k considering US population is around 2.5x the size of russias population)? Russians are much, much worse than Americans in terms of their eagerness to kill others, in my opinion. I wish it were not so.

[deleted]

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

#687

Post by Saline9515 »

lpcvoid wrote: post #463
pendenthistory wrote: post #408

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.

You should define what "our values" is when making such bold statements.

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

#688

Post by tartoran »

yalogin wrote: post #229

The event has been in motion with every action from the administration just cementing it more. Forget about the dollar’s dominance, at this point I am not forked that he will usher in ww3, or at the very least a war between Europe as the US seems very likely

There's no point in a war between US and Europe, it's not gonna happen. However bad a war would be, the current situation isn't much better. There's definitely a rift going on and will cause irreversible changes to the US - EU partnership. Oh well, not only EU, it seems like US is losing friends at a very fast rate with Trump at the whelm of the country.

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

#689

Post by krupan »

toephu2 wrote: post #521
krupan wrote: post #235

Earlier quoted context omitted.

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)

But Bitcoin is backed by nothing. At least the USD is backed by the sole superpower in the world (at the moment).

What does "backed" mean to you here?

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

#690

Post by darkarmani »

GoldenMonkey wrote: post #508
snovymgodym wrote: post #3

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.

> they should have oversight

Congress provides oversight and accountability of the Fed. The GAO does audits as well. Frank-Dodd provides more windows into the Fed. Why did you think the Fed doesn't have oversight?

> Not ever passing an audit of any kind

It might have been hard for you to find because it is hidden under the "audit" page on their website: https://www.federalreserve.gov/regreform/audit.htm

> Why is the independence of the Federal Reserve sacrosanct?

It's never been completely independent. It's independent from short-term (4 years) political influence. It's audited and has congressional oversight and the President nominates people to the board.

What else do you want? Interest rates set by Presidential tweets?

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