Is the end of the dollar as an international currency about to end

Saudis just announced they are cutting oil production by million barrels other OPEC/ Russia will be cutting an equal amount to drive the price up. Saudis at one time would only take dollars now they will take any currency. Argentina and Brazil are looking into getting away from dollars and India will stop buying oil in dollars as Russia will accept other currency. Kenyan President advised its citizens to get out of the dollar-- Many other countries are looking to dump the dollar. It's not looking f good for the dollar and when it tanks we are in big trouble. You think inflation is bad now --look out. It seems not many talking heads are talking about this hoping to keep it under the radar. Bidumbs fiscal irresponsibility has only worsened the outlook for the dollar.

 

I think the death of the dollar might be a bit premature.
I'm actually expecting the dollar to remain top dog in international trade long after I am gone.
There is so much debt on the planet denominated in USD, it far exceeds the actual number of dollars that actually exist. And the only way to pay a dollar denominated loan is with dollars ... unless the debt holder is willing to renegotiate the terms of the loan.

So until they pay off these debts .. the world will run on dollars.

Granted, that really doesn't mean that the inflation of the dollar at home due to spending and printing isn't going to cause a huge amount of pain for us. Dollar has lost, what, 97 percent in the last 100 years. We've only got 3 more percent to go before they start all over with new greenbuck.

 

Actually, I heard this too and yes, it is bad, very bad in many, many ways. I don't think this will have an effect overnight but it will start to erodes the security of the dollar overtime. There are so many different ways this will hurt the dollar... I do think Biden has had a lot to do will some of this, hasten its occurrence which I do not believe was a forgone conclusion. Can this be corrected, changed, reverted back? Doubtful. There would have to be a good reason to do so like a strong dollar, based on a strong economy, based on a strong nation, not some whacked out country that is more concerned with whacko gays than national security or financial health of the nation.

 

What if our own federal government owns the biggest share of that dollar-denominated debt?

 

With global food shortages, another option would be forclosure.

It isn't the federal gov't that holds any of our debt...it's the federal reserve...in no way part of our government.

 

I believe that most of the debt is outside of the US in the form of currency swaps.
https://www.visualcapitalist.com/visualizing-65-trillion-in-hidden-dollar-debt/

 

Which makes total sense when you consider the dollar is, or, most definitely, was, the most stable and secure form of currency. It still is but much is affecting it: deficit, leadership and fallout from Ukraine war.

 

There is a growing desire in the USA to use sanctions as a means of enforcing US policies instead of military force and to actually use it to finance the present war in the Ukraine or take and give to the Ukraine. The sum is estimated yo be about $300 billion plus in Russian assets frozen by the sanctions plus what ever they can steal from Russian citizens. The dollar only has any value as long as it is a store of value and a medium of exchange. If it becomes a weapon of war, any potential foe will have to drop it in order to protect its assets. This change in view seems to be happening as Russia faces it in fact, China in theory has around $1 trillion in total dollar debt threatened, and the Saudi's and others see it as a tool that may be used to enforce US policies. This leads to two dangers, refusal to use the dollar in future trading and a fire sale of it to get what they can out of it while it still has any value. If it does in fact lose its value due to inflation in the US, nothing states that the other countries, dealing among themselves, can't revalue the dollar debt into some other currency. This could lead to Saudi demands on an existing loan being valued at x rubles for Russia or 100 x for dollars in order to reflect both the value of the dollar and its militarized threat. The dollar only has a value when it is accepted as a currency. If it becomes a political tool, either as a form of sanctions or as a means of financing internal policy decisions, it could easily go the way of other stores of value and depreciate to near nothing in value in a short time. While the Mark fell to almost no value in Germany in the 1920's, the war debts continued to exist and did not fall to a o value.

Politics, Not Law, Is Key to Confiscating Russian Central Bank Assets

We tend to forget that when the dollar became the reserve currency and store of value, at Bretton Woods in the 1940's, it was backed by the gold we held and almost the only game in town. Neither of these factors are true in 2023.

 

After WWII the US economy was pretty much the only game in town our economy was strong and the dollar was based on something tangible GOLD so it became the world currency not so any more. Now it is just a promise by the government they will honor all debts (impossible to do, just another empty promise). US had a stable economy, and government for years. It's not looking that way now with the push for the WOKE agenda, ethnic division, political division, gay rights and the push for diversity not unity as Americans. There are many other factors to numerous to cite. I have friends who say that will never happen and I think to myself I wonder if the Greeks, the Romans, the Egyptians to name a few said the same thing as there country went to shit---"that will never happen here" Hope for my kids sake I am wrong

 

Oh, the US Dollar is most definitely NOT a store of value. Thus not money. It's currency.
If store of value is a requirement of money (which it is) then inflation reduces the value of the dollar.
So yeah, it's (fiat) currency and not money

 

looks to be "Batten down the Hatches" time soon, unfortunately! just stock up on "Barter Goods" for trade & swap, i don't seriously think FRN's will be worth anything in the not to distant future. PM's will have some value in the end/aftermath, but not right away, it will be trade/barter mostly at first. i'm not dumping my 401K or anything, just using some $$ to plug some holes in my preps, hoping against common sense that all will be well (not). friends, neighbors and I will be hunkering down and hoping for the best, at the moment it's all we can do.

 

Has anyone heard of the BRICs initiative?
It started out as Brazil, Russia, India and China banding together trying to teplace the US dollar as a medium of exchange. Now, supposedly 137 of the world's 195 countries are trying to get on board. It may get interesting!

 

Actually. a very good example would be what happened to the British Pound, which before the dollar superseded it after WW2, was the world standard currency.

First, I admit, I am a layman in economics, took my required classes in university but that's it. I also believe high-level, international economics is more Black Art than science because the variables are too numerous and too inconsistent; however, there are some constants so... IMHO a new world currency is far off for numerous reasons. China, the economic powerhouse, cannot be trusted not to fiddle with its currency and the other major countries would not accept it. The lack of any other economies big enough and stable enough to achieve world support is also another reason. It certainly wouldn't be Russia, for political and economic reasons (don't think it even equal Italy anymore). So, what would replace it, Japan? Doubtful.

I think they would have to come up with a new currency which means all would have to agree on how it was based which is an achievement equal to Mission Impossible.

As for our own country, in my belief, unfortunately, things have gone too far. The USA will go the way of other great powers brought down by greed, corruption, power, the same old reasons. I think we will follow the UK down the same path.

 

Well what form of currency is coming back to the big guy from Ukraine?
Is cookie cutter Joe going to allow his offshore accounts to go belly up?

 

China and Malaysia looking to dump the dollar. IMO china and Russia are in the process of dethroning the dollar as a international currency and more countries are follow their lead as they see the US weak and fiscally on the road to ruin and no longer a supper power. IMO this will result in massive unemployment and hyperinflation. Gold over $2000 heading up

 

some preps i have to wait on for app. 2 mnths but i'll survive if i don't get. I have a little PM's put away for now but expect to accumulate a bit more in the not too distant future. But for now they're not significant to my scheme of things, like i've said before barter/trade will rule for awhile at first, PM's will factor in only at a later date, like others have said you can't eat gold or silver etc..
i have some stuff set back for barter, but will mostly trade on my skills. your aim is to acquire goods & services without spending other goods & services to get them, skills & knowledge are king. when i say services i mean weeding someone elses garden or digging ditches etc. my deal will be the why or where or how it needs to be done not the doing of it ! as someone once said "I'm getting to old for this s**t!"

 

sadly sure looks like this was all pre planned... spend or money until they break us... and then tax us even more...