)", "How a 1944 Agreement Created a New International Monetary System", "Sanctions Programs and Country Information | U.S. Department of the Treasury", "Controlling Inflation: A Historical Perspective", "Measuring Worth Purchasing Power of Money in the United States from 1774 to 2010", The Stealth Erosion of Dollar Dominance:Active Diversifiers and the Rise of Nontraditional Reserve Currencies, "China Prepares Death Blow To The Dollar", "Beijing-Riyadh cooperation advances de-dollarization process", "WSJ News Exclusive | Saudi Arabia Considers Accepting Yuan Instead of Dollars for Chinese Oil Sales", "China's Xi calls for oil trade in yuan at Gulf summit in Riyadh", "China's attempt to challenge the USD's dominance as Xi Jinping calls for oil trade in yuan", "China defends Ukraine war stance, aims to deepen ties with Russia", "Four European Gas Buyers Made Ruble Payments to Russia", "Four European gas buyers made rouble payments to Russia -Bloomberg News", "Ghana plans to buy oil with gold instead of U.S. dollars", "Ghana plans to buy oil with gold instead of dollars", "Putin and Erdogan agree to boost cooperation, some rouble payments for gas", "Gazprom says it has signed deal for China to pay for Russian gas in national currencies", "Value of Russia-China energy trade up 64%, deputy PM says", "Explained: Putin's demand for trade in rubles, and how it could work", "Saudi Arabia Open to Talks on Trade in Currencies Besides Dollar", "Saudi Arabia just said they are now 'open' to the idea of trading in currencies besides the US dollar does this spell doom for the greenback? "According to the RUMOR, Operation Sandman will "put the US Dollar to sleep" by having all 142 countries repudiate the currency on the same day, and refuse to continue accepting it for payment in Trade. . Concerned about Americas dominance over the global financial system and the countrys ability to weaponize it, other nations have been testing alternatives to reduce the dollars hegemony. Sanctions Are Destroying U.S. Dollar's Status as World's Top - Newsweek IT WAS NOT EASY DOING ALL THE RESEARCH TO GET THE GLOBAL MO IES FOR PEACE WHICH WERE IGNORED BY POTUS CLINTON/BUSH/OBAMA/BUSH JR AND TRUMP /PELOSI/ KENNEDYS AND EVEYONE IN THE WORLD AND US GOVERNMENT WHICH WOULD HACE STOPPED THE LATEST CHINA GLOBAL MONETARY ATTACK IN DISGUSE OF A PANDEMIC- MURDER IN DISGUISE AS THE ROCK-N-ROLL PROPHET LEMMY KILMISTER OF MOTORHEAD FORETOLD IN HIS SONG: LOVE ME LIKE A REPTILE !! Mrs. Dilma Rousseff, the NDB newly elected President, has started her first day in office in the NDB Headquarters in Shanghai, China. Futuremash These Countries Are Dumping the Dollar - The Organic Prepper [54], In March 2022, India and Russia entered for a RupeeRuble Trade Arrangement. After Brazil agreed to trade with China in the local currency, Argentina, on Wednesday, too agreed to the same. Luft said the U.S. took "unacceptable and unheard of steps" in recent weeks, such as effectively freezing Russia's central bank reserves and disconnecting Russia from the interbank messaging. There's a rumor that 142 countries are planning on - Reddit This, in turn, gives Washington economic powers beyond belief. There was a large supply of dollars around the world, making it difficult to back dollars with gold. Anyone here as long as we are not American Indians will not be accepted as Americans you cannot steal yourself to be Americans and with this money swap the chicken is gonna come to rouse if the dollars drop god bless us here the future for non-indians especially whites, blacks will be the judge then Mexico would be richer than us they may kick our ass out and reclaim their land this is a very serious issue. As the name suggests, dedollarisation is a term that refers to the process wherein countries tend to reduce their reliance on the US dollar as a reserve currency, medium of exchange, and also a . Several countries are undertaking this process because they would like to call a halt to dollar hegemony. [32], In December 2015, the Kazakhstan government and national bank announced plans to reduce dollar dependency and strengthen the national currency. bitcoin under the same asset class as gold ,, a commodity but crypto is also a monetary and currency system. All those dollars in foreign accounts will come home, which will annihilate our monetary system. The acronym BRICS stands for the countries of Brazil, Russia, India, China and South Africa. In fact, China contributes to the dollar's status by having more of it than any other country in its unmatched, multitrillion dollar foreign reserves and its unclear that Beijing even sought to. Tajikistan, Cuba, Luxembourg and Sudan have also shown interest to use this mechanism. Turning to this past year, once we account for the impact of exchange rate movements (orange line), we see that the US dollars share in reserves held broadly steady. [50] On 11 February 2019, Russian deputy foreign minister Sergei Ryabkov stated that Russia would be interested in participating in INSTEX. ?/ so u can spend 1 trilion every year for defence?? [67] In 2017, SPFS, a Russian replacement of the SWIFT financial transfer system, was developed by the Central Bank of Russia. "[15], In April 2022, four European gas companies made trade payment settlements in rubles. ASEAN Briefing noted that Indonesia, Malaysia, Singapore, the Philippines, and Thailand agreed on this in November 2022. With modern mining techniques making large-scale production possible, global gold production has grown exponentially since the 1800s. Although the blockchain teck has some intriguing facets, I dont think it is anywhere near the class of trust levels that Gold has had for centuries. Also see: Why is the movement away from the US dollar taking place now? Yes Mr. McCormick *cues evil laugh* Mwhahahahahaha! The next step in this war is the complete takedown of the Deep State. A Bloomberg report quoted Malaysias prime minister Anwar Ibrahim as saying, There is no reason for Malaysia to continue depending on the dollar.. And thats just for starters. This has nothing to do with a global conspiracy to dump the dollar. [73], After a year of the RTGS Dollar having been the only legal tender,[74] Zimbabwe adopted dollarization due to hyperinflation. [22], In March 23, 2022, Putin signed an order forbidding "non-friendly" countries (including EU countries, United States and Japan) from buying Russian gas in any other currency besides the Russian ruble in the wake of sanctions given in aftermath of 2022 Russian invasion of Ukraine[23], In January 2023, Finance Minister of Saudi Arabia Mohammed Al-Jadaan stated that it is open to trade in other currencies besides the US dollar, and this expression is considered to be the first time in 48 years. Copyright 2023. [44], In March 2013, during the BRICS summit, Brazil made an agreement with China to trade in Brazilian real and Chinese yuan[45] The same year, Australia made an agreement with China to trade in national currencies. One of the worlds leading newspapers, the Financial Times, acknowledged in an article in March that these historic developments are part of a transition to a multipolar currency world. In the past, when this ratio reached such levels, commodity supercycles began. [26][27], In May 2022, Egyptian Minister of Finance Mohamed Maait announced the intention to issue bonds in yuan to raise capital as an mechanism to diversify the sources of finance. Scams Crypto101 HodlX Reliable source this story is .when there no author to a story its bs . Just recently, Bangladesh became the 19th country to agree to bilateral trade in Indian rupees. But, my ? She noted that the former Goldman Sachs economist who first popularized the term BRICS, Jim ONeill, has stated that the dollar plays far too dominant a role in global finance. The group of five economically-aligned countries collectively known as BRICS is reportedly on the cusp of a massive expansion. [70], On March 17, 2022, Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, announced that the Bank of Russia and the People's Bank of China are working on connecting the Russian and Chinese financial messaging systems. Prepare for a multipolar currency world https://t.co/gCoN2YjEEY, FT World News (@ftworldnews) March 30, 2023. And I LOVE your reference to StarTreks workd of 0 currencies/money in favour of all resources focused on allowing people to go as far as they can in an area they love and are good at! The footprint of the U.S. will be reduced around the world but at home the U.S. will roar economically because there wont be any other choice. He said policymakers must be vigilant and take appropriate measures to safeguard financial stability. The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the US dollar. There is no reason for Malaysia to continue depending on the dollar, Anwar said, in comments reported by Bloomberg. Open the border s , let all African people come to SA , as Africa is for all Africans. The thoughts that are put into the minds of men that are aware of what is occurring on trading floors all over the world is when? With the most recent commodity supercycle peaking in 2011, could the next big one be right around the corner? These Countries Are Quickly and Quietly Dumping the Dollar Both countries, which are perceived as anti-US, are trading in their local currency with one another. Other countries too are dumping the dollar now. China and Russia are trading in their own currencies. [75][76] In an interview with former Finance Minister Tendai Biti, he pointed out that dedollarisation has failed dismally. [28][29][30] In September 2022, Chairman of State Administration Council Min Aung Hlaing stated that they are planning to reduce US dollar reliance and to include trade in other Foreign currencies. Have also cross-posted all of this material on Twitter under @nyinvesting. And with the US Federal Reserve constantly raising interest rates, the dollar has become so strong that it is hurting the currencies of other countries, making imports more expensive. The U.S. dollar has been the world's major reserve currency for decades, but that status could come under threat as "very . The yuan usage in its cross-border transactions had jumped ahead of the dollar for the first time in March. In addition, many countries and territories peg the value of their own local currency to that of the US dollar, exchanging it either 1:1 or at a different, but fixed exchange rate. In general, commodity prices and equity valuations tend to have a low to negative correlation, making it rare to see the two moving in tandem in the same direction for any long period of time. Can BRICS De-dollarize the Global Financial System? - Cambridge Core CBDCs running on one public blockchain are needed. [69] Lukoil, a state-owned company, had announced that it will find a replacement for the dollar. You know not all the people of America agree with Americas government officials and what they do, so you want to kill us all, the land and animals? John McCormick you are truly an idiot. Emerging economies with big dollar-denominated debt balances have been hit particularly hard by the strengthening . [34][35], In June 2021, Russia stated it will eliminate the dollar from its National Wealth Fund to reduce vulnerability to Western sanctions just two weeks before Russia's president Vladimir Putin held his first summit meeting with U.S. leader Joe Biden. Although the practice of gold mining has been around for thousands of years, its estimated that roughly 86% of all above-ground gold was extracted in the last 200 years. Required fields are marked *. Because Russia was able to neuter sanctions, the Deep State had to resort to sabotage of the Nordstream 2 pipeline. Almost every establishment will take USD, but smaller and newer notes are preferred. Save my name, email, and website in this browser for the next time I comment. A week after Xi Jinping visited Russia, China announced that it used yuan to buy liquefied natural gas (LNG) from the UAE. The above infographic uses data from Our World in Data to visualize global gold production by country from 1820 to 2022, showing how gold mining has evolved to become increasingly global over time. As these other nations de-dollarize what it will do is remove the power of the Deep State to use the U.S. Dollar as a weapon against the rest of the world. Is this the beginning of the end for the US dollar? - The Post - UnHerd As the name suggests, dedollarisation is a term that refers to the process wherein countries tend to reduce their reliance on the US dollar as a reserve currency, medium of exchange, and also a . Language links are at the top of the page across from the title. In this past one year, theres a growing trend of countries sidestepping the US dollar and choosing to use their own local currencies for bilateral trade. The list of the 23 countries which are creating new swap lines outside of the dollar include China, Russia, India, and surprisingly, Germany, France, and the United Kingdom. But as the world has seen recently, even the Saudi kingdom is hedging towards a new global system, and has publicly stated that their ties to the U.S. are open for re-negotiation. The share of US dollar reserves held by central banks fell to 59 percentits lowest level in 25 yearsduring the fourth quarter of 2020, according to the IMFs Currency Composition of Official Foreign Exchange Reserves (COFER) survey. Process of substituting US dollar as the currency for various uses. its interesting how many idiots have posted their texts here. ASEAN is developing a cross-border digital payment system that would allow the use of local currencies in regional trade. Dedollarisation refers to countries reducing reliance on the U.S. dollar as a reserve currency, medium of exchange or as a unit of account. South Africas annual gold production peaked in 1970 at 1,002 tonnesby far the largest amount of gold produced by any country in a year. Money Market Funds/Accounts. During periods of US dollar weakness against major currencies, the US dollars share of global reserves generally declines since the US dollar value of reserves denominated in other currencies increases (and vice versa in times of US dollar strength). Other countries that have agreed to trade with India in rupee is Russia, Singapore, Sri Lanka, Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Seychelles, Tanzania, Uganda and the United Kingdom. .More Countries Repatriating their Gold and Ditching The Dollar Survival Economist: 3-6-2022 Hungary's Gold Repatriation Adds To Growing Protest Against US Dollar Hegemony. By the late 1960s, European and Japanese exports became more competitive with U.S. exports. Well, theyre right! Indias very own Kumar Vivek, deputy commissioner at the ministry of finance, also said that there are challenges to overcome to move away from the dollar. According to the World Gold Council, mined gold production is expected to increase in 2023 and could surpass the record set in 2018 (3,300 tonnes), led by the expansion of existing projects in North America. It noted that China is Brazils biggest trading partner, and in 2022 the two countries did more than $150.5 billion worth of trade. Ditching the Dollar: Will a new BRICS currency replace the US dollar USA will not be an exception of that I have no doubt.. $32 trillion in dept. During the 1970s and early 1980s, for example, rising oil prices led to a significant decline in stock prices as higher energy costs hurt corporate profits. Another Southeast Asian nation, Malaysia, is publicly advocating de-dollarization. The ASEAN collective is also trying to reduce dependence on the US Dollar, Euro, Yen, and British Pound from financial transactions and move to settlements in local currencies. Reuters reported that Russias largest oil producer, the state-owned company Rosneft, made an deal with Indias top refiner Indian Oil Corp, which is also state owned, to use the Dubai price benchmark in oil sales, as opposed to the Brent benchmark. And with 23 countries, including those from the BRICs nations and the Eurozone, preparing for new swap lines outside of dollar hegemony, the fuse has been lit on the dollar's death rattle, and the when has changed into the now. According to the news website ASEAN Briefing, at the top of their agenda were discussions to reduce dependence on the US Dollar, Euro, Yen, and British Pound from financial transactions and move to settlements in local currencies. Bravo! Major foreign holders treasury securities U.S. 2023 | Statista Iran, which is sanctioned by the US, is also carrying out trade with Russia and China in the local currency. In essence, its crazy over here. Moreover, it doesnt seem to be a longterm viable option. The best-known gold rush in modern history occurred in California in 1848, when James Marshall discovered gold in Sacramento Valley. The greenback has been facing competition for long. [37] The Russian Finance Ministry and Central Bank of Russia stated that it would sell around 54.5 billion rubles in foreign currency from January 2023. It may be replaced by different currency that can be backed by the productivity of her workforce. Could The U.S. Dollar Collapse? - Forbes The U.S. Dollar may or may not lose some value to the rest of the world currencies but it will still remain in high demand as the U.S. is an autarky and can be 100% self-sufficient. When Chinese President Xi Jinping visited Moscow in March, his Russian counterpart Vladimir Putin revealed that two-thirds of the countries bilateral trade is already conducted in the rouble and renminbi. The state of Nevada alone accounted for 72% of U.S. production, hosting the worlds largest gold mining complex (including six mines) owned by Nevada Gold Mines. As of April 25, gold prices were hovering around the $2,000 per ounce mark and nearing all-time highs. Drugs from Nigeria . [60][61] Also, the same month, Argentina and Brazil proposed a common currency for trade which is termed as Sur. This is a frontal challenge to the US-dominated International Monetary Fund (IMF), which emerged from the 1944 Bretton Woods Conference that established the dollar as the global reserve currency. [11][12], In December 2022 at China - GCC Summit, President Xi Jinping called for Oil trade payments to be settled at yuan. PS. The deal was negotiated between the state-owned China National Offshore Oil Company and the French company TotalEnergies, meaning European firms are now willing to conduct transactions in yuan. 2.1 An Understudied Issue: De-dollarization through BRICS . You need to be vaporized, retard.Not everyone agrees with the way these criminals run this country, and Im sure that whatever country you are living in is worse than America.Then, again, you may be an American LIBTARD. Boy, if thats done John McCormick, this comment is beyond reproach!!! Sur combines the currency of Argentinas peso and Brazils real. Other foreign holders. Malaysias Prime Minister Anwar Ibrahim met with Chinese President Xi in Beijing on March 31, where the two leaders discussed plans to weaken US dollar hegemony and even create an Asian Monetary Fund.