What if the US Dollar Stops Being the Global Currency?
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- Опубликовано: 26 июл 2023
- The US dollar is what most of the world uses for trade, but that's changing.
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So you actually didn't answer your own question.
What will happen? still no idea, you just stated how it could happen.
This is the next hot war man
Not the cold war anymore
Johnny, what kind of software do you use for your graphics? I like your content.
We can use gold . Like old day
@@carkawalakhatulistiwahahaha you cute!
Ever wondered why America went for FIAT dollar?
The words "trust" and "stable" are doing a lot of heavy lifting, here.
Funny how they're not lifting BRICS though
Yeah lol 😂😂😂
@@Flavourtorical3220all thanks to that glorious gun slinging propaganda
YEEEEEEEHAWWWW
@@DiligentX what lmao, all I'm saying is that BRICS is not stable
That's true they're not stable because the current reserve currency can sway that stability. 😅😅😅That's not even touching the actual truth
In south east asia we are building "ASEAN QR" that can be used between ASEAN country members without using dollars as the exchange currency. It's planned to be implemented next month.
Do u think singapore and malaysia will adopt this? They are american puppets in SEA
Cool!
Those countries will still need dollars, because the majority of the debt they already owe is denominated in USD.
@@TheBitcoinExperience true, but I'm talking about the qr thing not their debt
On what currency?
India and China on borders:- ⚔️
India and China while trading💸 :- 🇨🇳🤝🇮🇳
Ad money to the equation anyone will be freinds
same as the USA and it's frenemies when they're using the USD right now.
Divided by politics, united by money
India and china never fought throughout history, until the British colonised India.
Non of those countries want to use the others currencies in trade.
Trust and U.S in the same sentence 💀 😂
they're not talking about the corrupt US government, they're talking about the working class Americans, who have dutifully held up the world economy for over a century.... you don't have to give credit where credit is rightly due on that - this is a fact....
now, confidence can be lost - that's fine, but this has been a fact for over a century.... trust in the American people, and Wall Street, the source of our economic power.... the military might also bolstered this trust, before our government became captured and corrupted -- now the world wants to be free of the dollar, and I don't blame them. But at least understand who was being trusted and why.... the people don't deserve to be hated, because of our corrupt goverment who guess what - we ALSO hate, geniuses lol.... but that's too subtle and sophisticated for you guys, don't worry I get it, it's fine - bless xx peace
And I hope BRICS works out, and it probably will.... could bring a brighter future for everyone, and take these corrupt fuckers down, which we ALL want, buddy.... bless xx
As opposed to who else. China. Russia trustworthy sure bud
@@reygarcia8412you americans always make it so that if you dont support america you support one of those others. Most of us just dont support any of them we support the european union a lot for example.
Yes. The US dollar is the most trusted as evident in its position as the global reserve currency.
@@reygarcia8412 I put all three into the same category of completely untrustworthy.
Cold War? Yea okay buddy it’s like 100 degrees everywhere
Hot War 🥵🥵
Fight to become the hottest 👉👈
Its so fucking hot, was taking down a chimney at work on a roof. Never sweated so bad in my life so burnt fucking sucked.
@@jonyrose8575 lmao
aye yo
Yeah no body likes to play Monopoly when the bank can just print money for itself
They have unlimited out of prison card too
Lol, everything we're doing to manipulate currency, they're doing x10
We have an economy Nobel prize here 😂
Yeah lol no other country prints currency. They barter for their goods, or find it underground.
That's not how it works. They can't just print as much as they want. The ONLY new money is interest on government bonds.
Welp for once, the arrogance of US would die out.
Describing the US hegemony as stable and trustworthy is probably the craziest statement I have heard this year😂
He's only talking about the US dollar. 😂😂😂
It’s more stable than any other solution.
@@notmanciv5016 its stable because it relies on distabilizing everybody body else.
@@e.b.4942 oh boy, you know there are so many things affecting the stability of a currency right?
@@notmanciv5016 the one big reason for its 'stability' is because almost everyone using it. If we suddenly move to euro as the main trade currency the stability will shift to euro.
China and India cooperating without issues? Not possible 💀
As an Indian I can confirm 💀
Why as a Brazilian I dont understand? 😮
@Matheus-mw4rm what's not to understand? They have borders with each other with countries who are over 1.4 billion each with strong militaries with China probably in top 3 around the world..
Border conflicts aren't that rare.
As a South African i can confirm that this is 💯 true
India and China will agree if they decide to have a new common currency. But India will not support Yuan, i.e Chinese currency.
When you think everybody is the enemy.......
But the US is everyone's enemy.
We are done being dominated by the US.
Us should stop printing money out of the blue... Without gold backing !! (Then no need to be afraid, if US is honest, why would others pay for US papers)
Literally American thinking - "You don't wanna trade with us? You're our enemy!" - we all could be friends, but what the US and Russia is doing is colonialism (but obviously, neither of them will call their empire "an empire") - both are bad
Im waiting for the day the us dollar falls.
That’ll be the day ww3 happens
@@heyokasamurai453it's already going on, half of the middle east is at war, US implied everywhere, Russia Ukraine, this year will come China Taiwan, south America is overrun by the cartels, africa is full of military dictators, rebels and pirates, NATO basically preparing to go all in, the world is burning and we are watching shorts lol
@@heyokasamurai453Let’s hope everyone vs America/Israel
@@somaliguy you forgot nato, South Korea, Taiwan, Philippines, Australia
@@heyokasamurai453 When war comes let’s see how “Allied” they are 😆
“US led global cooperation” is the funniest joke i’ve heard in awhile
To simplify, if the US dollar ceases to be the most desired currency in the world, the US won't be able to keep printing free money and suddenly their grip on global trade and politics loosens
and they suddenly have to actually pay back their debts. Look what happened to britain when they stopped being the global currency.
The only threat to dollars right now are euros.
@@kerdart351 The Euro is backed by the US military though. An EU that has to pay for its own expensive military force is a very weak and unstable EU, not to mention unhappy as all their social entitlements go bye bye if no one else is paying the bill.
@@starventure euro as a currency isn't backed by anything external.
Wtf is social entitlement ?
EU is the most stable region in the World, and the only sustainable economic and politic alliance in the World, excepted NATO which is purely a military alliance. How are EU and Euro weak ? EU have the best powers in the world as allies or members (USA, UK, France = 3 nuclear countries, Germany first european economy, Poland first ground force in Europe, Spain has the GDP of Russia, etc), autonomous military industry, etc. You're just delusionnal
US can always keep printing money, its just value less followed by high inflation, then US citizen will start asking higher paycheck, then the cycle continue
America - brics has the weapons of mass destruction 😂
Bro BRICS country would demolish US in a day
It's called stupidity
For once it would be accurate. Russia, India, and China are all nuclear powers
i mean...
they do?
Well , 3 out of the original 5 actually do
Someone needs to tell this guy that the entire world doesn’t revolve around the US
Wait really only the entire planet earth doesn’t revolve around one country 😱
But then it does
But it does, unfortunately
It totally does though!! 😂😂
In monetary terms, it kinda does
Boycott the us dollars full stop
How tf are you going to buy anything?
ah yes, competition is cold war
Thats literally what the cold war was.
@@kaksidaksi3455not quite
Is always free market and trade until others are the ones trading on their marked
@@kaksidaksi3455 So, the "free and capitalist nation of the US" is against competition, and rather its monopoly?
@@TomiThemself I dont see what youre trying to say and how does it relate to what i said
I am pretty certain that India announced that they wouldn’t join a BRICS currency as they wanted to use the rupee more and still use the USD when trading with the US who they see as a friend.
Also India doesn’t like the idea of sharing a BRICS currency with counties like China who they see as a potential enemy. BRICS isn’t exactly a United alliance so I wouldn’t say they are going to be a collective world power in the future, especially when Russia, South Africa and Brazil’s economic growth this decade are far behind that of India and China.
Conclusion is that India is strengthening rupee instead of making a failed currency
China has never taken India seriously. India still does not have a physical industry that belongs to its own country. Recently, India decided to independently produce mobile phones and found that the vast majority of parts come from China, while the rest come from Western countries....
@@linshitaolst4936obviously and this is the reason why India backed out this stupid endeavour of brics
@@linshitaolst4936Agreed. Although, the policies drafted looks very promising. India is developing a solid base for it's industries
Kind of started with Trump but I think even the Democrats are now on the same page that turning to India to lessen our dependence on China is the way forward. I'm sure that is part of the reason as well.
"The US dollar is stable."
[laughs in dementia patient for a president]
I'm a proud American, but I'm incredibly disappointed in the fact that people actually voted for him, let alone enough to actually get him in office. I'm just hoping we get a good president within the next century.
Which currency is more stable?
To adapt a phrase, USD is the worst currency except for every other currency in the world
Trump 2024
@@flaminjamin gold/silver
The US dollar is very stable and has a huge economy behind it. Only Euro is comparable in economy and stability.
Oh little Jonny. You are a good obedient American
USA be like: "How dare you deny to pay for our mistakes"
Us should stop printing money out of the blue... Without gold backing !! (Then no need to be afraid, if US is honest, why would others pay for US papers)
@@amolpapewaryou missed out on the sanction part
They can sanction an entity and their USD is like toilet paper
@amolpapewar the US can't print money it doesn't have. It relied on Fractional Reserve Banking to make money, the government does not actually make new money, it just converts digital money to physical money
@@amolpapewarwhat are they gonna do when they has largest dept of 32 trillions that's why I love the uprising of BRICS the faster it become the epicenter the better
@@natural5584 The *TRUST* that was gained by the west is exponentially getting destroyed by the *CURRENT US PRESIDENT* due to a very *LONG LIST OF REASONS* so a change for a better cause shouldn't take much time to earn the *TRUST*
Trust me if Biden is someone like him gets elected again the dollar is finished
South Africa is rising like a lead balloon
made me audibly laugh
Hahahahha
I don't get it
@@nkosanamakhubela2586 led doesn't fly
Us should stop printing money out of the blue... Without gold backing !! (Then no need to be afraid, if US is honest, why would others pay for US papers)
Though I don’t support China, I’m in for anything that gives the US the middle finger
Are you Indian?
I agree
I agree
@@anowell1845you dont need to coment the same thing twice
USA should ban you from their internet.
In last 3 years it showed how stable and open US dollar is really is😂
Brazilian here. Brics wanting their on currency is not quite right. Yes, there are mentions of it but, firstly, BRICS are not seeking to start a cold war, on the contrary, secondly, having a common currency may not even be on the best interest of the BRICS countries.
They would never tell you if they where seeking to start a cold war. You would have to read between the lines, and between the lines the message is quite clear. Just like how they never told us Swedes why we joined nato was never about Ukraine so much as Russias intent to go so much further and the war has to end in Ukraine to avoid escalation. Best wishes.
Faz mais sentido ter um sistema de liquidação recíproca, que não envolva pagamento em USD, porque esses meio de pagamento costuma passar pelo FED e bancos sediados nos EUA. Já foi uma solução de pagamento eficiente, mas hoje em, a tecnologia de comunicação permites soluções melhores.
@@MegaRazzzzNATO ? Defending against USSR then Russia, or any other agressive dictatorship.
You need history lessons bro
@@kerdart351similar to BRICS, a resistance against the western unipolar policy
@@guilhermeemerick6859 no link to the BRICS 🤣
BRICS isn't an union or an alliance. This is just a common political forum. You're delusionnal dude
NATO has the policy it wants, it's not responsible for anything "unipolar" (russian propaganda).
india has already said they dont want a common currency with BRICS. Off to great start lmao.
18 countries, including Germany, UK and Singapore now accept Indian rupee for international trade settlement.
@@siddhantshekharCute
@@siddhantshekhar"accept" does not means a "common use"
@@hamzamahmood9565atta mila???
and south africa wants to arrest putin so doesn’t seem like they will have common currency
"Chinese president sneeze"
This guy: This must be a war declaration
????
Seriously wtf? So many "people" (probably troll farms) on here saying Johnny is using US propaganda even though this channel is consistently criticizing the US...
“What will happen if the US dollar stops being the global currency”
Peace.
Possible, but based on the current climate, there will not be an easy way for India and China to negotiate within BRICS given the hostility between both countries. Also, if India starts to move away from Russia, which may be possible, this will be even more difficult
India will not move away from Russia. Their alliance is historic. China and India have many disputes but one thing they've always agreed on is to not let US power grow in the indo-china region.
China is still a trading partner despite hostilities. And no chance India moves away from Russia. The world sees how America treats both its friends and enemies. Frankly the friends get it worse. What you think is difficult is a stones throw away.
@@bibimbap5917 Nice thought!
@@shelldie8523 Nice thought. Good
Again this boddapati guy I dunno if u r a bot or something Ike but man u gotta be everywhere commenting the same words ,"what if India leaves Russia." U ain't a bengali that's for sure coz Rupesh is a name Gujjus holds dear while Bengalis hates Gujjus and marwaris to death so they had already boycotted the name Rupesh and baghesh long ago
Maybe America would finally start using the metric system
No
As an American, that would be AMAZING.
No
Never!
slim chance
*casually drinks tea in European.*
U.S: competition is the best thing ever! look at our economy and how good competition is!
Also U.S when other companies start competing: 😡💣💣
That microphone tho...
MAGA and microphones
something wrong with it? it looks normal to me
@@vincentchan4777😂🍆
lmao
LMAO
Can't believe you missed the biggest reason and benefit, which is the enormous amount of sanctions the United State places on those countries. They aren't having it anymore.
Gotta praise USA🇺🇸
Great we will starve the world go hungry
Then let them have their own currency, that no one else is gonna accept.
@@jedinight2353Of course everyone will have to accept it, you cannot just stop buying or selling to an enormous market.
@@jedinight2353technically they are more than 70% of the world ! If u reject there currency they will reject urs lol
Brazil russia china and india: we're BRICS
South africa: hi, im just happy to be here
S.A plays a big role... Strategically big.
Well, if we go by the usual stuff…
- competition is good
- monopoly is bad
Because of pure greed by the elites of this country, the US had mismanaged its financial capital, as well as its human capital. We’ve mismanaged it so bad but have had the ultimate ace in the hole, the world reserve currency is the dollar. I don’t blame other countries for questioning why they are using a country that is so irresponsible and can barely run itself as the currency they trade in. In fact, i’m a little surprised it took them this long. I believe soon other countries will follow suit and leave the US dollar in the dust. America really needs to get its shit together. The government and financial institutions are corrupt.
But the issue is that there is no alternative that is as stable as the dollar is. The U.S. treasury bill is the global benchmark for the risk-free rate on debt and all debts are measured against it.
@@aycc-nbh7289 “The US T-bill is the global benchmark for the risk free rate on debt, and alll debts are measured against it”
True. But that “is” is about to turn into a “was” unless America gets its shit together.
It starts with the corruption and complacency in Washington and the elite business class. We really need to start looking out for the average worker/small business owner. The system is drowning us.
The elites want it this way.. They have benefitted from all prior wars and for the past few hundred years they changed their directive to having a world order. This is exactly what they want and they are going to get it. The US will fall.
@a.m.4148China will overtake.
@a.m.4148 Why not? Yeah China is going through some tough times but they will come out of it.
Video Idea: Not sure if you guys have looked into it but there is quite a lot happening at the moment in south Africa that doesn't get reported on enough
This has not been a particularly busy news year for us what are you on about
like what???
Well I don't think it's very widely reported and not a lot of people know about the riots and corruption currently going on, then there's also the numerous amounts of terror being inflicted on farmers and just a lot that I feel could be laid out more
@@owen8499 a lot happening in SA at the moment the follows up its business as usual the only real change is eskom we spent 27% of the year without electricity already and that has made headlines in every major broadcaster
true
34 trillion in debt, over a trillion in interest…. Buy crypto, the dollar is dying.
*Other countries* : Want to trade with their own currencies.
*Amerika* : "It's a cold war, then."
Calling South Africa a "rising country" is hillarious
I actually laughed hearing it
More like a falling country.
I wonder if this guy is paid for sometimes cuz he makes the wildest claims. South Africa is basically collapsing in real time and he says its rising... wow
Lol, don’t represent us so badly! Thanks! @@kerdart351
@@tpeterson9140BRICS is an old concept, it exists because at the time it was created these countries were rising
BRICS countries disagree on where their borders are, let alone interest rates, inflation targets, taxes and other policy decisions required to have a joint currency.
For now.
yep their govt structures are way too different, different economies, different greed… how could they unite?
I think something is being misunderstood here. I don’t think what’s being stated is that all these countries are going to have the same currency like countries in Europe all have euro. I think what is being said is that they’re going to trade in the same currency. All the countries, that trade in the US dollar, do not have the US dollar as their actual currency. Trading in the same currency doesn’t mean they can’t still have their own for everything else.
@@truthbetold5460 Nope. All these countries agree on de-dollarization. They'll figure a way out.
United States should stop printing money out of the blue... Without gold backing !! (Then no need to be afraid, if US is honest, why would others pay for US papers)
BRICS was a disaster. All those countries hate eachother.
It's only stable because the US military invades other countries and take control of the country's oil to bk their currency
The US is the global bully
as an indian, we are not interested in cold war, we are interested in being independent from the west.
when America is involved, you have no choice, bro, but to go into war
As an Indian, I don't trust the Americans and i think that the cold war is the only way to be independent from the west. If we stay united with other countries against the west, Us united can destroy the US domination. I don't hate the US but i don't like countries showing domination over us.Edit: cold war doesn't involve physical fighting and so only involvement of political actions is needed and we might win the war.
Us should stop printing money out of the blue... Without gold backing !! (Then no need to be afraid, if US is honest, why would others pay for US papers)
Brics?? Britain itself is a western country. Worst they coloniser of india. 🙄🙄
@@KK-vi7jq BRICS -- Brazil 🇧🇷, Russia 🇷🇺, India 🇮🇳, China 🇨🇳, South Africa 🇿🇦
ah yes, south africa and brazil are truly civilizational powerhouses
If I told you Brazil and South Africa replaced china's role in the global economy would your mind change?
I ask because we are currently starting a new cold war with China. If China keeps acting against our interest we can remove them from their current role. If you look at china's rise due to us giving them that role in the global economy then whoever we choose to replace them would have the growth that China had.
This would in fact create make Brazil and South Africa what China was supposed to be.
@@tonynav1082South Africa can't even keep it's lights on
@@tonynav1082i think india would be the most likely to do that and various other firms across the globe
@@fnostic5611 possibly. I should look more into indias infrastructure, idk for sure if they'd be able to convince their population to take manufacturing jobs. I know they have a high population but do most Indians have labor jobs or engineering and high skill jobs?
@@lonyo5377that and the batshit insane taxes
Us dollar, stable? Don't let me laugh. You keep the printers roling. I prefer a monopoly box with monopoly money that I can sell for something with value any day above the us dollar
US Dollar is stable☠️
lol
USD stops being the global reserve currency means the following:
- All USD-backed currencies plummet.
- We're all fucked.
- The end.
Äääähhhmm, 60 ...90% US$? Euro maybe only in the percentile, maybe tens ... -> it goes about stability. As soon as (if ever) the Euro would be more stable than the US$, it would probably shift quite quickly.
Nope, euro is there too
Because you have lived a dictator life putting sanctions and preventing other countries from developing.
Including assets, whole world would default. It's not as simple as the media and people make it out to be.
back to gold standard i guess hahaha
The US dollar is only stable against itself as a dollar is always a dollar.
As a european IT contractor working with US clients, the USD performing like absolute shit lately has reduced my income by almost 20%
Yeah, but I gotta say that that has to do more with global trade, not just the dollar. It's all really intertwined, if the Euro starts backing, odds are it's also gonna effect the American economy
@@svuntekarlberg no I agree, your argument bolsters my claim :)
The americans who be left with any real money after they pay ogf the debt, which they will never be able to. Unless they increase corruption by printing money in excess, even if it is stable rn, it wont br for long
@@hexo1387 I mean printing money = more inflation = debt grows because it gets inflated
@@hexo1387 i have not the faintest idea what you're talking about but my post wasn't about a conspiracy
gonna be as hard as changing the global language from english.
Yes, true but they will need a lot of luck to move this new currency through the SWIFT system that is controlled by the G10, hence the US.
*a russian ant moves*
This guy: SO WE ARE MOVING INTO A NEW COLD WAR💀
russian ant?
@@ratfink2413an ant from russia
@@JRyder_GamingThe way it is commented is weird.
I think the problem kinda lies with the fact that this organisation includes like 2 dictatorships, one of them is also currently waging war in europe and openly stated he wanted to bring the soviet union back
@@alexpuhringer3721you can't reason with some people these days. Some of the most "patriotic" Americans openly support Putin. A Russian dictator, basically the epitome of America's adversary since the Cold War, and flag waving Americans love the guy. It's bizarre to say the least.
It's not your money, it's your 800+ Military Bases around the World which maintains your economic power
This guy doesnt know that and just creates fear for everyone
And would you be able to support the country to support all of that without the money? No
@ptp4171 global currencies aren't switched over night. The Dollar became the global currency AFTER a world War. Just because a few collapsing countries decided to be friends doesn't stop the dollar dominance. Have you seen Chinas economy? Absolutely garbage.
Also we pay your medical bills in some way shape or form too. Youre welcome
@@rilesmattix5217no you dont
If the US DOLLAR seize to exist then we just go back to using gold as the global currency, thats the denomination before the USA and SAUDI ARABIA hijacked the policy with the appearance of OIL in the Middle East.
Good for them
We are not making our own currency, just an alternative way of reducing the dependency on US dollars.
Americans seem to hate America but take the US dollar for granted.
*they made the price of games go up by 10$ aaaadgfh*
[60$-70$]
@@temp3608yes because it costs more to make video games now🤦
@@smayera5849
*THEN WHY ARE THE GAMES STILL GARBAGE?*
@@temp3608 some games are good👍 ,But some greedy companies only make garbage games for a quick cash grab
The purchasing power of the US dollar has drastically declined in the last 80 years
9 months later brics is no more. USD reign supreme
That is not the real issue. The real issue is what to do with the money that used to circulate in global trade, which sudden imported back at home. Huge money supply with reduced global circulation means inflation,maybe like Argentinian levels.
There’s no way BRICS would make their own currency.
Just keep the same energy by next few years😂
its only a matter of time homie!
We're already doing it mate.
The cope from people above me lmao😂😂
Y would they?? Usa didn’t. It’s a foolish route.
BRICS is hopeless, there is little chance of them actually cooperating on a single currency
It’s happening already, sorry. It’s very dictatorship to only allow the dolar to be used in international transactions.
@@fabianoberlim9636 brics isnt the most stable have you heard about the india china conflict about kasmir
BRICS is giving people hope against endless American wars and murder and biological warfare.
@@lhourigan1By invading Ukraine and starting their own warfare lol
@@fabianoberlim9636 how is it a dictatorship? The benefit of US and US dollar is the court system. If you want to invest, run a business, take out a loan - US is the place. There is a reason why Russia's frozen assets are just frozen and not transferred to Ukraine - it would be illegal and countries wouldn't trust to hold their assets in US and US' currency. On other hand, you got BRICS, some of the most unstable and unpredictable countries, but with lots of power and resources... actual dictatorships, I would say: Xi - 15 years in power, Putin - 20 years in power, who actually rewrote constitution in 2017 or 2018 to stay in power for the 3rd term.
A lot of countries are fed up with America.. pretending to be civilized while killing millions of people and destabilize regions like in the Middle East.. lecturing other country’s while doing 10 times worse..
Dolar is goiing nowhere. There might be a lot of frustration around it but it is still orders of magnitude better than anything rlse. What are you going to use in intl trade: rubles :) Bricks is not an alliance. It is a market category named by Goldman Sachs.
Johnny is falling into the media traps more and more recently
don't cry dude you're country is focusing on war economy than fixing its infrasturcture, economy and poverty.
Crying over a YT short, what?
And what country would that be?cause mine is definitely not focusing on war
@@Liquid278which country are you in?
@@wenwengaming9900 Well, you do know that defence spending and strength is one of the main reason behind technological innovation? And the technology being developed now could help solve such issues.
@@marnuscoreyempanadaslooseb6760the US’s spending on its infrastructure is so little is almost criminal
ASEAN has also made a discussion on removing the US dollar as their trade currency
Based
Pretty sure this is just a topic that comes up every once in a while but never goes anywhere. Kinda like how Saudi Arabia and Iran getting more friendly or Israel and Palestine getting peaceful. Stuff that is always in the talks but never happens
ha ha 😅
@@maka6134 both saudi and iran have been accepted into brics and will join in 2024, so they will technically get more friendly
🤣🤣🤣 Same way India and China who are both in BRICS but constantly bash each others heads in at the border. Or did you forget the BRICS are almost always at war with each other. No they def will not get more friendly @@fernandoroberts3591
I agree that there is potential for us here in South Africa. However, these corrupt politicians NEED to go this year or well be getting nowhere as usual
Those sanctions would have less effect and the casino ride money printing by the Fed would stop?
As a Brazilian, I would suggest not losing any sleep over this. We dont trust our own currency, let alone one created by some of the most corrupt, unequal countries on Earth
Right...cuz America is as righteous as they come, who are we kidding?
@@algerianjonsnow4911 compared to Brics countries yes it is
Eradicated a whole native population, enslaved another, the first to ever drop a nuke on another country (for no reason), casually overthrowing other countries governments and replacing them with a bunch of dictators purely for self interest, Illegally invading Iraq and bombing a couple of million people out of existance (for no damn reason as well), funding a bunch of terrorist groups which destabilized the whole Middle East beyond belief and then turn on them to keep the reputation intact (that ship has sailed btw), regularly throwing ridiculous sanctions on African countries to keep them underdeveloped while blatantly plundering their resources...all in the span of 400 years, these other countries been around for thousands of years and still ain't done nearly as much damage to this world as U.S. Brother, people must immediately be banned from using the words America and righteous in the same sentence.@@silimarina.
Us should stop printing money out of the blue... Without gold backing !! (Then no need to be afraid, if US is honest, why would others pay for US papers)
@@algerianjonsnow4911 easy just have to pick which is beneficial and convinient for you. Picking up Brics currency is like having 0 credit when u go around. A literal brick
As an Indian.
I can guarantee you, we are not interested in brics currency. We are interested in creating our own global currency.
You already have your currency… INR.
@@satwikskattiwhat he means is globalization of inr
😂
exactly, your government also sees china as a threat, so india and china are very unlikely to cooperate on something like that
Your currency will thrive in the decades to come.
South Africa😂
We fall they all fall so it won't happen
"What if the US dollar stop being the global currency?"
As a non-American, I don't see a problem in that at all. AT ALL.
Then which alternative global currency do you propose?
@@aycc-nbh7289 No global currency. Countries are free to trade in whichever currency best suited to them. Let's say Chile and Australia, they can trade in either Chilean Peso or Aus Dollar or Yen even. No problem.
@@aycc-nbh7289we dont need one.
Same here 😂
They'll never get out of the bubble that US is earth and earth is US
@@aycc-nbh7289it's not my call
It won’t stop being the global currency. The majority of US denominated transactions aren’t intra-BRICS, so even if BRICS came up with their own currency, they won’t impact things that much. Secondly, shifting reserve currencies is a huge, costly, and complicated endeavor that would require basically the entire global economy to move at once. That would require a Great Depression/WW2 level crisis AND China or India establishing themsleves to be the world largest economy and to posses a world leading financial sector - neither of which are happening soon - or else their just isn’t a huge benefit to leaving the dollar system. Thirdly, even if China did accomplish those things in those circumstances, things China does with regards to capital and import/export controls means that their currency wont be a global reserve currency, almost by design. If China decides to radically change its economic structure and prioritize foreign transactions over absolute growth, then maybe the yuan can be a global currency, but that’s not happening anytime soon. Fourth, BRICS won’t do a reserve currency for the simple fact that BRICS isn’t that close together. To have a currency, you need a strong central bank, and to have a basket currency run across multiple governments, you need a way to deal with the implicit currency peg. Doing that would require that all the BRICS states sacrifice control over their economies fo each other, which won’t happen since they aren’t aligned. Russia is fighting decline, China is trying to be frenemies with the US and establish a multipolar order, SA is trying to fix an economy that is well and truly f-ed, Brazil is trying to recover from Bolsanero and COVID, and India is trying to manage growth. Those goals don’t really have anything to with each other in terms of either monetary or fiscal policy, so a common currency would just be an unhappy compromise and worse than just having a National currency. The common example is the EU, but the EU is basically just a bunch of different sectors of one convergent economy with aligned political aims, which is not BRICS at all. All in all, this is such a stupid concept that it amazes me that someone as smart and thoughtful as Johnny would dedicate airtime to. Smacks of either laziness (which I doubt) or wishful thinking on behalf of an America-bad, multipolar worldview. A multipolar world is an interesting, maybe beneficial maybe not concept, and spending time talking about batshit things like this takes away from that.
I think it's an interesting enough conversation to have in the light of polarization in the US.
For a country to maintain Global dominance, it needs to be highly stable and united in terms of it's fiscal policy while consistently exerting military power.
The US, for all it's faults, has for quite a while been the strongest, most stable nation around. But that seems to be changing these days.
Political disagreements are making it to the banks. Both the Republicans and Democrats seem entirely too willing to hold Budget decisions as leverage for political goals. But most importantly, the sheer number of diverse views in the US have made the shrinking middle ground almost non-existant.
"A house divided against itself cannot stand". The US seems awfully divided these days, and the rest of the world is simply adapting to the possible changes.
@justmemyselfandi7760 "The US seems awfully divided these days" Wake me up when a literal Second American Civil War happens. Hell, you can even nudge me when a half-dozen political leaders are assassinated like in the 1960s. Until then, the US as a whole is HARDLY divided.
@@justmemyselfandi7760I think the point is not whether the US is stable enough, but to see if any of its more likely "rivals" are also close to US stability, and they are actually worse.
This political problems that the US is going through will not seem to last more than 10 years, and it's easier to solve compared to the economic, military and political instabilities of the BRICS.
Only EU support America well enough not other countries like middle east, Asia countries and african
@@SahilSharma-dt7qn First, thats not true. Second: great! even if this is true, that doesn't matter. BRICS won't work together, and the USD falling from its perch as the top global currency or the US falling from its perch as the center of the global financial system isn't happening. Your opinions on US support in the global south is completely irrelevant.
Money cold war🗿💀
No worries. QFS is taking over!
"People trusts the US dollar"
No we don't.
People have and people continue to. Similar to how they trusted the pound sterling before the dollar took its place.
@@taiwandxt6493currently, Usa offers no real garantees that would actually support the value of the dollar, and with the latest fuck ups that the dollar had faced and the inflation that it caused, people are becoming more and more aware of this fact, and it will only be a matter of time till an alternative appears.
Buddy u don't know what deflation is...
By people he means international trade giants not individuals
@@taiwandxt6493yeah people "used to " ,not now
"It is stable"
Well that's one hell of a definition of stable.
Stable as in you can trust that the us won’t (likely not) pull some shit like china or Russia if pretty much sign the paper work
Any currency is only stable in the short term, but if these countries want to trade its fine in whatever currency as long as the trade is equal value yearly, otherwise China will switch out the Dollar with Rupees, and potentially only be able to spend trillions of rupees in one country. Whereas everyone else would still accept Dollar, meaning you have higher risk long term. This risk however is never zero, not with dollar, kroner or anything really.
@@mitas3484 mf has apparently never heard about gold and silver
@@thevillager8339 I get that, but I doubt anyone will trade gold for oil and services from another country at present time
@mitas3484 , well, have it be tied to gold, like it used to be for a lot of modern history. And stop trying to defend the world order. It is indefencible and doesn't benefit you.
It is not the currency that is the problem but the number of intelligent people who understand AI and software (scientists, engineers, and artists) of coming ages. Robots are coming whether we like it or not.
The UK pound is stronger than the dollar. No one trusts the US dollar.
A great idea, but only in theory. These countries alone, even if they all had stable, western-like economies would still not meet the power of the U.S. Dollar, or even the Euro. But that’s in a perfect world, and the BRICS countries are especially imperfect. We’ve seen the kind of trouble a country like Greece can do the Eurozone, but in the grand scheme of things, it wasn’t a catastrophe. For an economy like South Africa, or Russia in particular, to use the same currency as a country like China would be a death sentence 5x over. Besides, India, South Africa, and Brazil all have equal if not greater ties to the West and to the United States than to China and Russia. The idea is unthinkable. I won’t even say that it’s doomed to fail, since it will never happen anyway.
🤡🤡🤡
You are thinking in the short term. Right now it is ludicrous for these countries to completely change the dollar in all their trades, but in some areas it may be a good idea, such as farming.
At the same time, you are forgetting China is transitioning from being a place where things get manufactured to where things are developed and manufactured. If the new order China is proposing works out, the US will no longer be the richest country in the world and will lose its influence. Yet this is not something for the next 10 or 20 years, but for the next 50 or 100 years.
India have greater ties to west and usa .u probably misunderstood the current situations.india have deeper connection with russia before the time of indo-pak war
@@futureworld6280yeah but Russia is the biggest basket case of all of these countries and a lesser partner to India. They're not going to anchor themselves to Russia forever. The leader of the BRICS is unquestionably China, who India does not have especially friendly history with.
It’s not possible to replace the usd cos of the triffin paradox. U have to run a huge deficit annually if u r the global currency (cos everyone wants to buy to trade). No one currently wants to do that be it uk, eu, China or Japan.
Yen to be reserve currency would be trillion usd trade deficits in china. China will never agree to that.
Some global powers decide to sideline the dollar
Americans: cOLd wAr!!!!1
Yes because he represents every single American
@@SCSK47lol y'all are same, there is no difference among your cowboys, new york or California.
@@fromearth3286 i entirely forgot about my comment so I'm sorry if I caused any trouble, guess I just had a bad day
@@fromearth3286Arizona isn't close at all.
@@OhioGoogle who cares? USA is divided into 4 main parts.
Unfortunately this wouldn’t surprise me. Our Government, on both sides(especially Repub’s…look at the house)is a circus and can’t agree on one thing. Record low on bill’s past, they’re more worried about themselves than “The People” that elected them to fix these kind of problem’s. What a sad/chaotic time for such a Great Country that has so much to offer “The people”, but it’s always about GREED when it truly comes down it.😕
Comment 7k
brics and their plans so reliable 😭 they couldnt even get together for a conference bruh
Do explain.
@@IrfannPathan911just search for the last time they tried that. This isn't 1981 anymore. Grow up.
@@vondantalingtingthe conference or the currency?
@@IrfannPathan911china conflict with india in Himalayan border.
@@Huang_Teh.China hates US more than India
John never disappoint us to deliver another bs for hamsters
He's making it sound way more dramatic than it is. The cold war was about something entirely different and maybe the US loosening it's chokehold over the world isn't such a bad thing.
BRICS will never have its own currency to rival that of the US dollar. They won’t even agree on making the currency. Euro has a higher and much more likely to take over in the next 20 years than BRaiCs
Sir kindly use current Indian map
Agreed, whole kashmir must be excluded from bharat
@@zshan4445 like the country which is not included in anything?
@@sounakmukhopadhyay781 yaar bharat is included in a lot of things, they sent a ship to the moon to collect toilet making data recently.
@@zshan4445yeah here comes a bomber.
South Africa’s PM recently said that the country is close to a “failed state” so rising is a funny word to say it. No need to comment Russia. The US is safe for now
India and china are also fighting
China is arguably going to be in for a long period of stagnation and decline too give their population makeup.
Brazil's GDP has decreased by a trillion since 2011
@@notmanciv5016India is going nowhere.
China’s the only real threat to the US
@@notmanciv5016nope, the last border dispute consisted of a few soldiers beating eachother with sticks. China is India's largest trade partner, and the Indian foreign minister has refused any help in dealing with China. Especially after rhis horrible war started India and China have gotten closer and closer.
If the US dollar was used I think at that point people would go back to the gold standard. It would also create a worldwide instability issue that would leave millions in poverty (Well millions more on top of the millions we have already sadly)
If Trump is elected for a 2nd term, the us-lead global order is goooone. We cant be following a country that is picking an orange maniac TWICE.
I hate it when some people have leverage over me. Say, you can sanction me because I purchase from you or use your currency. Reminds me of when I had an automation project and the welder was using his skills as leverage. I'd learned welding theoretically but not really practiced. Went right ahead and practiced it and made him look obsolete for the project. He really was delaying everyone and was gonna cost as more in upkeep money. Human instinctively doesn't want to be subjected to another human. Good work Harry.
United States should stop printing money out of the blue... Without gold backing !! (Then no need to be afraid, if US is honest, why would others pay for US papers)
@@amolpapewar Right? Now the only 2 thing making the US dollar any valuable are debt and the fact that people believe it's worthy, which in turn make it widely used and accepted.
Us dollar is double edged sword tbh
The world has to unite against America and its culture
To hell with America’s control.
"People trust the US dollar." Actually, NO, they don't.
They really do... 80 per cent of all trade is in dollars. Maybe you and your buddies don't trust it but you make 0 difference to entire regions stuck with the dollar.
@@sergejplemic9202the trade is so high because the US doesn’t give anyone a choice, I think we should trade in pounds or euros as they are far stronger currencies than the USD
@@LilacMorelli Look, I am the last person to advocate for the US. But the fact that the US dollar is by far the most used and strongest currency ever is a fact. The US can't "force" countries like China and France to use the US dollar. They may "force" some third-world countries, but the major economic powerhouses choose the dollar for many reasons:
-Trust. The US dollar has been absolutely and indisputably dominant since WW2. Maybe even WW1. The US is too much of a giant to implode or collapse like the Euro might. Also, you were talking about pounds. The UK economy has been struggling since Brexit. Also, they go through prime ministers faster than toilet paper, so the pound would certainly not be the first to cross your mind when you think about reliability. Investors trust the US dollar.
-Stability. Again, the UK is not the most peaceful and stable country ever. The US, albeit their problems with gang violence drugs and crippling poverty, the US has eliminated every threat to property, as a literal court case says that companies must listen to investors before consumers.
-Markets. NYSE (NY stock exchange) is one of the most powerful markets there is. The US has a lot of those markets that may attract investors.
-Tech market. Tesla, Apple, Amazon, Microsoft, Google, you name it. The US is a leader in the global market of electronics and technology. A scandal has recently surfaced that even China was illegally using US electronics in the new Huawei. This market attracts investors.
-Diversified economy. Pretty self-explanatory, but basically, this means that the US has a reasonable market in every field.
-Reserve currency. Many banks have the dollar in their reserves, so this increases the dollar's stability even further.
-Global terrorism. The US has invaded and terrorized every corner of the world and installed an uncountable amount of puppet governments across the globe. In addition to outright stealing their resources, they force these countries into horrible trade deals, which further bolsters their economy.
-There is a lot more, but I am way too lazy to write it all.
TLDR: The dollar is significant because investors trust it, they have well-established markets, a good tech market and are used as a reserve currency around the world. Also, the US spread it because of global dominance.
People don't really trust it.
They deal with it because the ladder is military intervention.
The dollar for global trade is supported on by force.
The only thing that keeps it in check is are military power.
There has been debates for year about moving out of it and the last two years has shown a major reason to get out of it.
For one: the actual major reason we invaded iraq was because sadam replaced the US dollar with euros.
In turn that made buying oil from them significantly more expensive.
How did we fix this? We invaded the country and hung sadam, then took control of the oil fields.
The latest issue was the Russia moving into Ukraine on military operations.
So alot of brands and stuff band work and business with Russia.
The thing that shook the world was taking Russia off global trade.
So what did that tell the world? Agree and do what we say or suffer.
So really this idea that is happening now is probably better for these other nations in the long run.
Most just want to be independent from the west and I see no issue with that.
Us should stop printing money out of the blue... Without gold backing !! (Then no need to be afraid, if US is honest, why would others pay for US papers)
The US dollar stable?? Ha Ha don't know about that
A group of losers.
People saying that BRICS would never settle on a common currency don't understand that they don't have to have a common currency, in fact dollar being the common currency is the problem they've faced all this time.
They've just started to trade in their own local currencies, they don't want a new currency, they want their currencies to gain more power.
Which would undermine the dominance of the US dollar and since there would be no one global currency, all these currencies will keep the market in check not allowing anyone to have global dominance.
Brics currency would never work cos some of those countries ran by dictators, imagine having ‘’central bank of bricks’’ who will manage it? China? India? And that means other guys should just follow that without asking questions. Countries are totally different , one country is on deep crisis, one is growing, one at war. two countries have border battle. So one currency for all these guys??? It’s a joke
Why don't the BRICS use the Euro?
@@Sanyu-Tumusiimebecause USA would diminish the EURO like what they did in the past, when Iraq and others wanted to sell their oil for EURO, USA invaded Iraq, and NATO vassals cooperated. They're pyrely vassals that are afraid of their master USA.
@@Sanyu-Tumusiimeeww why
@@Sanyu-Tumusiime not trusting EU or UK or China. USA has also become less stable. However the financial institutions are robust enough to handle global trade in multiple currencies i believe especially after cryptos.