Technically you're not wrong as one could have more gold than all the currently mined gold and "unmined" reserves on Earth. Although that would lead to a larger supply and a lesser value.
@@johnpats7024 We should create a giant stone guild, where everyone stores their giant stones and receive promissory notes that represent a number of giant stones at the bank. Then when you go into the drive through, you can simply exchange this promissory note for your desired items. Wait-
@@johnpats7024Some stones sunk while being transported but were still gifted so there's a "cash less" option. Just throw the stone in the ocean but we'll know it's yours so it's ok, similar system to bitcoin.
It's ironic that all rich Chinese want to convert their money into the dollar or euro or yen for safety, but can't because the government limits the maximum amount to $50K/year. Which is why so many wealthy Chinese send their children abroad to study. Yeah, education with a course in money laundering.
Is that what money laundering is? I thought money laundering was when you take money obtained illegally, and transfer it through a legal business, BACK to you, no?
@@kingmaple9252 right, so im asking how does it go BACK to them? Also is the money even obtained illegally. EDIT: I realize you weren't @-ing me and that it was a reply to OP, my bad
@@boyboilNEO9055 i feel like the problem is you are swapping a funny value paper with other funny value paper , so people don't bother with it because it's more effort than it's worth it
@@toninhosoldierhelmet4033That shows how uneducated Americans are on the topic, the problem thqt the global south has with the USD is NOT that it has no intrinsic value, no modern currency does, it's the fact that it gives too much power to ONE government to regulate the world economy and sanction them wherever they want, THAT is why the Dollar is falling and will continue to fall.
@@boyboilNEO9055 TLDR: dollars pretty strong with no real FIAT competition when production costs are averaged out, people don’t trust fox or cnn or even forbs at this point. on a foundational level for fiat currencies, the dollar is highly stable and strong, like insanely strong outside of the U.S., personally I see digital currencies becoming more attractive and predominate even if they’re used as a “safe haven” currency for volatile times. The market usually has a rule that if there’s slop about a specific economic factor, it’s either bs for clicks and media attention or factual data that needs to be talked about in higher levels of education and possibly government. The market also typically holds against whatever media says because there has been a developming resentment to the factual information the medias produce.
The Yuan - a currency so glorious that China itself never accepts it as debt repayment... The Ruble - a money so robust that it's more sensible to trade in beads
@sampatkalyan3103 coping with what? China literally accepts repayments in USD only, this isn't a secret. And the ruble is next to worthless, this also isn't news. Otherwise Russia wouldn't have scrambled to acquire yuan and rupees after being cut off from trading in USD and euros
As a Nigerian, i will tell you straight that de-dollarization is not going to happen within any of our lifetimes😕 It's the world's reserve currency for a reason. Most countries, evwn hostile ones like Russia and China, prefer US dollars because of guarantees and trust in the American economy compared to theirs. Even us here in Africa. Plus, America spenda a lot and lets thw dollar float in the market to make it more attractive to others. No other country can do this.
Lol this comment is so underrated. Unless american economy trips you're shooting yourself in the foot going away from the dollar. No economy is just at a same scale
as a brazillian i can confirm every brazillian who even remembers what brics is (5 people) thinks brics is stupid and meaningless. i heard people feel the same in every other brics country. funny how only people outside brics argue for it
Could it be theoretically be replaced someday? Sure. Is it gonna be replaced anytime soon? No, because there's no better alternative. People don't wanna switch to something that sucks.
Why was the British pound so strong for 200 years? Cuz they have countries that use it all over the world, and enforce with their navy. No one else has that.
@@mizan-mq3me no. Not comparable. Britain enforced it, the USA cannot enforce it. Unless you mean better morally. Britain traded in only pound sterling with their colonies, the US cannot control what currencies they receive. Ironically it is Britain which caused the US dollars supremacy, while the UK fought both world wars from start to finish they had untold loans in the USA. Essentially the empires wealth, converted to US dollar. To put it in perspective, the dollar was $20 to £1. 20:1.
Yep and gold was the big deal internationally? So, India was part of the empire; ergo the place with the currency that is in charge of (enforcement) the place with the gold and is broadly in charge with global trade (enforcement) was going to be the dominant currency.
@@Bozebo gold was accidentally the standard as a result of Isaac Newton who miscalculated the exchange of silver and gold. China only traded in silver, hence the Opium Wars
BRICS exist because the US keeps sanctioning other countries, and as much as Americans like the guy who made the video want to cope about it dedollarization is real and ubstoppable in the global south...Of course US lackies in Europe and East Asia ( Japan + South Korea ) will stick to the Dollar but they're 20% of the planet so who cares
I hope you guys are joking, he explained it as good as anyone could. He definetly knows what he’s talking about, but if you feel that you know better, watch a conspiracy video and I’m sure you’ll agree with whatever that person has to say. Just because you don’t understand it, doesn’t mean he’s dumb or misinformed, it usually means the very opposite. And what Wikipedia page covers a topic as wide as this, with these specific points, answers and examples? But hey I’m glad you guys enjoyed the photos 😙
See I'm form Brazil and getting degree in economics. So I think I can add my own 2 cents to this discussion: the Dolla ris not dying. Wake the fuck up samurai
Either you are a US American pretending to be Brazilian or you are a very uneducated brazilian because your country is LITERALLY at the forefront of dedollarisation so what are you even talking about😂
Wow, you study economics, I guess that makes you an expert. The American empire is failing, and the fall will happen a lot sooner than people think it will.
Icelander here, while it's true we had a 0,75% interest rate but that never lasts for too long. Largely because our currency is as stable as the middle east.
@@1mol831 its literally prevented more crushing human misery than anything else. Until 1830 in the West, 50% of people used to die before age 10. Thats a lot of people kids just dying. I'm against that. The real horrid misery was in less economically advanced places where the occasional famine slowly starved people to agonizing death by the millions. This is also bad, in my opinion. Even saving 100M lives by eradicating smallpox would not have been possible without significant economic development. I think its better to not let people die horribly where possible. Granted we may be destroying the planet, and I'm sure there are instances where a bucolic pre-modern life was preferable.
@@randomnobody8770 I would prefer we last 1000 more years ruled by knights who live in castles than waiting for doom in 100 years by our own hands. I prefer accelerationist who dismantle growth by overclocking it so it all falls apart.
What's even more comedic is that BRICS a made up oncept invented in wall street by a bunch of investors trying to invest in the next booming markets abroad. Its not even a real alliance 😂😂😂
@@whenisdinner2137 reminds me of the whole "global south" concept, made up whole cloth by a West German guy and now used to paint developing countries with one monolithic brush
@@tylerphuoc2653 The "global south" concept is used to talk about countries that are still to this day dealing with colonialism and imperialism from the Global North
@peterdisabella2156 the US establishing the dollar as the world reserve post WWII is litterally US foreign policy... how do you think Europe and Japan rebuilt themselves? How do you think the US pays for its massive spending? Or how Reagan bankrupted the USSR? These were all explicit goals accomplished through US dominance over foreign trade through its currency.
Thats quite a fallacious argument if i ever heard one. Most commodities are traded in us$. Via a global trade system enforced by warships and a massive military.. You need US$ for those commodities. Or you dont get the candy. Whats so hard to understand. The wealth of nations anyone?
@@mr.coffee6242 The massive navy and military isn't going to bomb your country if you want to deal in your own currency. They are there to protect sea-lanes which is something all nations should do as outlined by the United Nations. The US is just the most capable nation to do so and majority of the world prefers having US navy ships patrolling these lanes than China or Russia.
Stop repeating this dhumbh point. It doesn't explain the concurrent coexistence of countries like Singapore and Russia. If that were true, war lords and dictators would be the ones ruling the world.
with dollars you can buy anything. With rupees and remninbi you are stuck buying whaterever India or China produces respectively. And forget about buying oil. Russia had this exact problem when selling oil to India for rupees. They sold oil at a discount and got a bunch of rupees which are practically wortless since there is no demand for them on the forex market. Nowadays Russia relies on barter more and more. Like their barter agreement with Pakistan
I am from Russia and your words are just untrue. At this moment I live in Thailand and use Chinese yuan on everyday basis. I haven't used dollar since 2022.
That's the whole point of BRICS, you might not need rupees but another country in the alliance will, the more members there are the better the system works...Look you guys can keep coping but the USD will NEVER be the world reserve currency again, only in the west.
It is very common to shift the y axis. For example, if you search, "Apple Stock" in Google, the lowest point on the graph is not 0. If you search up "rules of making a graph", there is no mentioning of starting the graph at 0. From my daily use of it in engineering, The axis on the graph only need to follow 2 rules. 1. Needs to be labeled with numbers and units. 1mm, 2mm, 3mm 2. It needs to have a consistent metric, for example, 1, 3, 5, 7. Or for another example, 2, 4, 8, 16.
I don't think the author intend to over-exagerrate the drop in dollar usage. As my last comment said, this is very common. But, I understand that you can be annoyed. Because things different from what's familiar are polarizing.
Theoretically it could but in practice, has almost no chance any time. Maybe over many generations but it won’t be China or BRICS or Russia money that does it since whatever replaces it must come from a government or organization (group of nations) most of the world trust and big enough to produce enough currency. That leaves the only option to possibly replace USD in next 100 years…..the Euro. But the Euro nerds to improve and stabilize before the Euro becomes a decent possibility to replace the USD
Agree on most of the things. But US government is anything but trustworthy. They are printing dollars like crazy. It seems that no US political parties are interested in paying their debts as well.
When you say "That most of the world trusts" do you consider the fact that the global south which is 80% of the planet does NOT trust the US or the west? The awakening shall be rude but keep coping my western friends😂
@@j4genius961I think they mean American businesses, when they say trustworthy. There are always bad actors, but for the most part, you get what you pay for with American businesses. On the other hand, a business from say, the Dominican Republic, will struggle to deliver on their commitments because of high crime and instability over there.
@bogdanstamenic2836 What does the US produce? Tech? If you are a develloping nation it is far more valuable to have access to chinese products and Russian weapons ( without risking sanctions by any of them at any point ), no need for the USD in either case.
BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you. I work with a financial consultant regulated by the SEC, and started small, but eventually accumulated over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
I hate people who jump absurdly ahead in their conclusions. The US Empire is slipping in strength and the Dollar as the world reserve currency. But the US is still number 1 by a healthy margin. Neither China nor Russia are near-peer, hell if anything the fact that what should’ve been an easy war for Russia to win… the invasion of Ukraine has gone on for almost three years now. While it does seem like Russia is likely to end up winning, they proved to be only a fraction as strong as most people had expected. Seems like the days of the USSR breathing down the US’s neck (and even in the 50s and 60s might have actually been stronger) are still far in the past.
You're wrong, i know it might sound cliche but russia is conducting a special military operation in ukraine, not war, if it was war, there would be no internet in ukraine and Russia would bomb the fuck out of ukraine like USA iraq style, but its not doing that, in the front lines its a very much like war situation, guns shooting artillery shooting, but as a whole its a special military operation, not a full out war. If russia wants to take ukraine using its full resources and military and not using contractors like wagner it would be over within a week or two.
@ Cope. There’s no reason to do it so slow, if they were so strong, they’d do it. Admit that Russia isn’t as strong as your state propaganda tells you it is.
@@Baphomets_Kid They're not coping, their just giving you the most likely scenario. You're insanely delusional if you genuinely think Russia trying at their absolute capacity wouldn’t overtake Ukraine.
did u happen to forget both iraq or afghanistan where u.s. lost.. or are u deliberately ignoring ukraine being backed by europe and america, they even said that american weapons will be used in the war which provoked russia to make nuclear threats recently... are yall living under a rock somewhere in giga patriotic side of america whre u.s. is the best at everything backed by the data from 1970s
its ironic how he says 'one of the most prosperous democratic and diplomatic times in human history' at the end of the video, and then there is someone like me who is born in syria from an afghani mother and lived in Iraq watching.
Another reason the renminbi cannot replace the dollar is that China has a trade surplus, meaning who the hell has any surplus renminbi around to store? If China runs a trade deficit, this problem goes away.
The Federal Reserve mainly uses OMOs to maintain the ample reserve system; there’s so much money in circulation that buying or selling bonds really won’t do anything. To actually change the interest rate, the Federal Reserve increases or decreases the Federal Funds Rate.
The British Empire declined slowly over decades. And the cracks were well visible to everyone for a long time. America shows no such signs of decline - if that is what you are implying.
It’s no different than NFTs where people made troves of videos, bots and convinced groups of people that their image had a value assigned to it. This time it’s with fear mongering to get people to buy into assets (gold, silver), bitcoin and other means to artificially raise the cost of those goods.
@@j4genius961 You can come from completely different backgrounds and use the same strategies to distribute information. It's the same tactic, not at all the same thing.
@@j4genius961 ngl in money the brics don't measure enough in cooperation, u can see us eu and oceanic countries come together but when u look at conflicts like sino-indian battles in kashmir and russo-sino rivalry in siberia. When u see the in fighting u start to realize no matter how much china outgrows the usa it will never replace the USD just because of the fact that china and the other economy's have to much infighting to become a real contender as a world currency
@oofbruh6149 1- The goal of BRICS is NOT for China to replace the US as global hegemone but rather bring about a multipolar world 2- You're trying to tell me that there is more infighting in Brics than in Europe? Have you ever learned European history my guy? France and Britain have been at war longer than they've enjoyed peace 3- Brics is an economic alliance, not a military alliance, how they feel about each other doesn't really matter. 4- India and China have signed a peace threaty right bofore the Brics summit in Kazahn
if you are worried the dollar is gonna implode CRYPTO IS A HORRIBLE ALTERNATIVE if you don't have enough experience/do enough research its way easier to lose a ton of money on crypto than to profit. if you're looking for something stable buy safe assets like index funds or precious metals. (its why central banks are buying up all the gold they can get right now)
The brainless G7 flag wavers are HILARIOUS!!!! The world is dedollarizing as a rapid pace, even the US admits it, and brainless westerners are claiming it's not happening. How funny!!
Open Market Operations (OMO) are no longer the primary tool that the Fed uses the control interest rates. Ever since the 2008 recession, banks have kept much more reserves. Hence, we have an ample reserves framework. In this framework, increasing or decreasing the money supply doesn’t directly affect interest rates. The Fed uses OMOs to keep us in the ample reserves framework or to offset declines in reserves. However, the main tools that the Fed uses to control interest rates is the Discount Rate, the Interest On Reserve Balances (IORB) rate, and the Overnight Reverse Repurchase rate (ON-RRP).
I always lolaughed at how people said we should use gold standard for currency...while the US has the most amount of gold. Meaning that dollar would still be the main currency even if petrodollar isn't used.
Thank you. I lose my mind every 6 months or so with these deluge of BRICS/de-dollarization/crypto/multipolar world related videos hogging up my bandwidth. Smh
You only talked about the past history of the US dollar, but the need to establish a new trading system did not appear out of thin air. In the past, when the US dollar was strong, the price of gold was slowly declining for many years. Especially when the US stock market was strong, gold, as a conservative safe-haven asset, was not sought after by people. However, the situation since this year has completely overturned this logic. While the US stock market was strong, assets such as gold and Bitcoin rose sharply. If Bitcoin can be explained as the influx of speculative funds. Gold still absorbed a large amount of safe-haven funds at a time when investment opportunities are abundant, which is obviously contradictory. The scale of US debt has reached 116% of GDP, which is obviously not something that can be alleviated by increasing taxes. You can say that Japan's debt scale is 200% of GDP, so the United States still has room for growth. However, the economic size of the two sides differs by more than 20 times, and neither of the two presidents in this election has proposed a specific plan to resolve the debt, which is likely to indicate that the debt scale will continue to increase as rapidly as in the past. China currently holds 3 trillion US dollars, more than twice that of Japan, the second largest country in terms of US dollar holdings. However, these US dollars cannot be used to purchase Western high-tech, such as lithography machines, due to the technological blockade. The purchase of energy products such as oil can be directly from major exporters, such as Saudi Arabia and Russia, using RMB. Holding such a large amount of US dollars and the reduction in their use have caused idle assets. These combined factors have created the need for a new payment system. As long as there is demand, there is motivation. As for whether it will succeed, this is definitely a very long process, and there will be various ups and downs in the process. The success of this system is ultimately related to the outcome of the Sino-US confrontation in the second half of the 21st century. But as a Chinese, I am actually pessimistic. The Chinese, who have been poor for two centuries, have not yet achieved the living standards of the Japanese, but have been hastily pushed up to compete with the United States, which has been strong for a century. If we lose, all the efforts of everyone before will be gone, which is really hard to accept.
@@1mol831 The remnibi is still being restricted from international trade by the Chinese government. If that changed (unlikely) or if China facilitates the creation of a new international trade currency, it wouldn't take long for that currency to potentially dethrone the dollar. The strength of the dollar is directly proportional to the U.S. share of global of trade. Today, China dominates global exports but still hesitates to increase imports, likely fearing increased labor costs and remnibi outflows. If they were to change their stance (again unlikely, but far from impossible), it would be a major threat to the dollar. And without reserve status, the dollar would face an inflation crisis as the government would struggle to finance its debt. Nevermind the trade war that Trump is trying to start. If he succeeds, global trade with the U.S. will face a sharp decline and create further demand for alternatives. The dollar is not on a sure path to death and it isn't clear exactly when if ever, it will be replaced but its position is not currently secure by any stretch of the imagination. Remember "slowly and then all at once", once serious speculation begins that the dollar is under threat, it wouldn't take long for a panic selling to reduce reserves at a rapid pace. It's just that the online discourse is exaggerated and is mostly fear mongering. However, that doesn't mean that any such concerns are unfounded.
if i had a US dollar for every time you changed the title and thumbnail of this video there wouldn't be anymore competition for the dollar left... cuz i'd have them all
Hoser did make a valid point that the Dollar is being challenged not because its use is unpopular but because of America's conduct on the world stage,American hegemony is based on its claim of being the Arsenal of Democracy and protector of Human Rights and Rule of Law,and yet it supplies ammunition that Israel uses to commit a genocide in Gaza, another reason could be that many nations can't seriously be affected by sanctions or other financial punishments the US would enact on them
This video is a breath of fresh air. The internet has made news and ideas very easily accessible but it also has had the effect of people pushing narratives or ideas forward that aren't realistic in the time-frame they often state or give a false confidence to their audience on the knowledge they possess on a subject. Just to iterate here: No one thinks the dollar is going to be immortal. No one thinks the US will always be around. The biggest disagreement here is whether the pattern of the sell of dollars and economic/military deals being done in a different currency without the dollar involved, indicates the collapse of the dollar as the world's reserve currency. This video does a great job in debunking popular information that is given the wrong context or its affects in relation to the rest of the system. My main advice to people is this: If the dollar were to collapse, it would be a very long process outside of a freak war that dramatically changes the landscape of the planet (like WW2) or outright apocalyptic event either in the form of a natural disaster or economic depression (which would have to be outright worse than the Great Depression by several magnitudes) that caused the decimation of the United States mainland or its economy (in which case you have a MUCH bigger problem than debating reserve currency). For example: The British Sterling was considered the reserve currency of the world for majority of the 19th century up to the 20th century, and this is despite America having been the biggest economy in the world for many decades during the same period of time. You can think of it as: It took World War 1, a horrible global pandemic (which had a way higher kill rate than COVID-19), massive economic depression (Great Depression), the destruction of lives and industry as a result of war that was never seen before (World War 2), massive debts from all these major wars, and the dismantling of their global empire (letting colonies go) to get the reserve currency go to from the British Sterling to the American dollar. And I'm being honest here, I only firmly believe one of these factors were actually the main reason the US dollar became the reserve currency (the fact Europe was on fire and even the UK wasn't safe from bombardment so the US was the safest place to store money). Which should honestly tell you just bad a situation has to be for a currency to dwindle down in usage for foreign exchange when its the reserve currency (people don't exactly like to switch from one currency to another and would prefer to avoid the hassle altogether, so saying de-dollarization is occurring due to a few minor deals is really naive imo since majority of the world could not care any less).
This video was pure copium. Economic and political powers feed on each other, to say that no one is forcing the world to deal in dollars is far removed from reality. It dismisses the geopolitical pressures the US imposes through its military and under the threat of sanctions. Not to mention that the exchange to dollar everytime a trade occours is only beneficial to the US, the reason its drowning in debt is because of its mismanagement and military spending and not proof that its not a growth stimulant. The dedolrization we're witnessing is not only fueled by countries being fed up of US illegitimate dominance, that plays favorites for its own benefit, but also by the insurmountable debt the US is in. What will happen when the debt becomes so large that the two options left are default or print more money? what value will this "asset" hold then?
@@princemc35 I think gold is the best at safeguarding its value against outside intereference. Thats why central banks are buying by the tonnes now. but its still price pinched by two (western) exchanges. If gold is open for everyone to trade, and countries accept any gold backed cuurency for trading commodities. it'd be a rooted and stable system. like we've done for most of human history lol. It'd also be great to have an internationl gold backed currency, but thats daydreaming and more compliacated that what i know 😂
@ Value means limited supply. This is why we have a problem with the dollar now, because they keep printing more and more of it. If there is more demand for gold then its value will rise to accommodate the global economy. But it will be based in actual value, not fictional value based on trust in the US government. Also, im genuinely curious, what was so absurd about my first comment? You dont think Economical and Political powers go hand in hand?
@@OneMo1 except the value of the dollar isn’t eroding against other currencies it’s actually on a trend of strengthening against every major currency. So this doesn’t answer anything
This video feels very condescending. Not forcing a country to use the dollar doesn’t mean that the system wasn’t created in order to create a reliance on the dollar and of course give the US more influence and power over the countries that NEED to use the US Dollar for trade.
Whole video is just obfuscation. Not sure whether he's actually dumb enough to believe it (probably). It's a simple matter really, US gets to print unlimited amounts since the whole planet takes the inflation hit. Others don't get to do that. This is why the dollar is strong. Rest of the video is just drivel.
Not sure whether he's actually dumb enough to believe it (probably). It's a simple matter really, US gets to print unlimited amounts since the whole planet takes the inflation hit. Others don't get to do that. This is why the dollar is strong. Rest of the video is just drivel.
THE ONLY REASON THIS CONVERSATION EXISTS IS BECAUSE PEOPLE KEEP ASKING. NO. THE ANSWER IS NO. AND EVEN IF IT WAS GOING TO IT WOULD BE MANY, MANY, MANY YEARS. ENOUGH OF THIS QUESTION.
@@LordVarkson You're just ignoring the fact that all of Russian dollar reserve got robbed just because it was in dollars? Lmao. Why would you use the dollar when you don't own it?
@@MGZetta And you're ignoring the fact that why would anyone want whatever your offering as an alternative to the US dollar at face value unless it's precious metals or other natural resources? Sure you can try offering whatever broke ass currency you control yourself, but you're going to be paying a hefty fucking premium to settle in it.
@@MGZettarussia can still use the dollar. It's not like the dollars in their bank turned to dust when they got sanctioned. The big problem is how are they going to use it. Answer: middlemen. Smuggle out dollars in exchange for the rubble, while also paying hazard fees to the middlemen helping keep the rubble afloat because the middlemen also risk getting sanctioned themselves. Look at a money changer outside russia that still trades rubble some time, and you will see the buy/sell spread is huge compared to other more major currencies.
@@Moonstone-Redux We're talking about reserve currency, international trade, not illegal exchangers. Lmao. Literally all of Russian reserves turned into a dust and they can't have access to their dollar. Do you know what you're talking about? Do you think Russian bank had physical dollars in their vaults or something? Lmao.
This video completely misses the point that people are making and is a complete midwit take. If the United States can freeze your economy and assets in place via the implementation of sanctions and other restrictions because you did something that they didn't like, why would you opt to trade with other concerned countries in different currencies as a risk mitigation effort? When this happens, the demand for the dollar goes down, which negatively impacts its purchasing power. This is a real possibility that we should be concerned with, and using the dollar is only convenient worldwide until it no longer is. The Portuguese escudo was once the world's reserve currency, and then it wasn't. We don't just continue using things because "it's easy lol", real geopolitical and economic shifts occur over time.
13:04 Ah yes, like the full trade embargo on Cuba since 1963, as administered by the office of foreign assets control. Cuba has committed no war crimes in recent history (not nearly as many as the U.S. or other nations supported by the U.S. dollar) and contrary to the statement in the video, the United Nations General Assembly (the rest of the world) has continually condemned the embargo since 1992 (187 countries in 2024).
cuba is great, thats why miami is full of them, they loved cuba SO MUCH they made dangerous as fuck rafts out of garbage so they could spread the good word of karl marx to the people of florida.
kinda miss the old video format with the excess of funny images, sounds, colorful creative direction, popular background music and the way more casual approach to the topic, was kinda the reason why i got into the channel and geography as a whole... it was different you know, guess no return of the king for me
@@jonpaul3868 literally. and no mention of the trillions in deficit and debt to to China. This was the worst analysis on the topic I have ever seen. Kid clearly went in with his mind made up and ignored everything else that could lead him to a different conclusion.
It is literally happening before your eyes but keep coping... The USD will remain an importsnt currency in the west but the global south ( 80% of the world's population ) will switch to local alternatives to circumvent sanctions.
@@determination8359 The world was not globalized during the age of the Roman Empire. Also, in the moder world, the USA is far far bigger and more powerful and influential than Rome ever could've dreamed of.
@@ThwipThwipBoom The British empire says hello...The US produces NOTHING that the global south can't live without and has adopted the HIGLY destructive foreign policy of sanctionning whoever disagrees with them, that alone will lead to its ineluctable replacement as the global reserve currency within the next 15 years...Just watch
there were an extremely variable amount of proposals the most practical of them were 'trade balance of accounts' where a nation's currency would be its net import-export, but they all failed to resolve political issues like capital controls
What is good is subjective... There's no such thing as objective good... History and system is written by the victors and they'll do everything they can to maintain that power...
I don't know man. the last time i check the third reich is defeated And yet, the myth of German WW2 superiority and "clean" wehrmarcht keep persistently exist among people's mind. It doesn't help that the right wing movement is also on the rise across western nation (although you could blame the left wing causing the radicalization for this one).
You had me in the beginning not gonna lie. I thought you had fallen for the meme. The dollar going away would be the best thing ever for the United States. It would finally allow American exports to be competitive with European and Asian exports. The American economy would be unleashed upon the world.
@@golagiswatchingyou2966 the US dollar is what butchered our industry. just look at the rust belt. i personally live in one of the cities hit hardest by the end: detroit. it's painful to see what's happened to it ngl, so many abandoned homes. but on the flip side: you can buy a 4 bedroom, 2 bath house for 60k!
It bothers the living shit out of me that you can make this video and not mention how gadaffi almost had the entire arab league join his idea of a gold standard for selling oil and then all of the sudden the us wanted him gone
You don't have any idea what losing the dollar dominance would mean ...I am neither American nor Chinese I am an Arab and I have huge geopolitical knowledge.I once was talking to a Chinese girl who is a huge nationalist and she claimed we should start learning Chinese if we wanted any place in the future ...as China would rule soon ....i basically dismantled her argument guess what was my point which she admitted she can't argue against ...the dollar ..not the army not the logistics not the technological gap ....the dollar is the strongest control of the world economy someone can dream of
Destroyed no. Weakened yes. Using currency as a weapon is a bad idea no matter happens after someone will do whatever it takes to weaken your weapon's (money) effect. Plus it's natural for a dominant nation to have competition no century has gone without competition of nations. People are driven mainly by interests in the BRICS + not ideology.
Tell me you dont understand global finance and geopolitics without telling me you dont understand global finance and geopolitics long form youtube video edition.
Well considering Fiat currency historically has a 100% failure rate. There is a 100% chance of it failing, the question is when. There are thousand of examples spanning thousands of years. They all end the same way lol.
15:48 and that never happens with sanctions the point of the sanction has been told to bring change in a countries behaviour but it is actually just to punish us enemies
Don't worry, deleting money is almost as easy as printing it. One stock market crash, and boom! Money gone! Still too many dolla dolla bills in circulation? One mega fraud scheme, and boom! Money gone!
Ppl forget that the US treasury has a lot of digital dollars so can literally go on a computer and delete trillions of dollars not all of them obviously
Don’t think he meant debt, I believe what he means is that the US keeps some of their money digital, and that they can wipe it (therefore increasing their actual USDs value) I am not at all sure of whether this is true or not, just wanted to explain what I thought he meant. Again not sure if this is true or not, if you’re gonna use this information anywhere else, please fact check this.
23:08 it wasnt forced in the literal sense but what else could have they done not use the dollar? That would be just like cutting youself off the world market
@johnpats7024 it became the reserve currency and the currency that backs up every currency because the us had most of the world's gold after both the worldwars
@ well yes but it is only natural, or do US sanctioned countries not deserve their sanctions? The first 2 countries mentioned Cuba then Venezuela, two countries ran by narco-dictatorships whose people suffered under their regime long before sanctions were imposed, yes sanctions might affect the whole population but they also apply pressure to corrupt leaders, even though they haven’t really achieved their goal
I think a 500-kilometer wide asteroid has potential to replace the US dollar maybe
Technically you're not wrong as one could have more gold than all the currently mined gold and "unmined" reserves on Earth. Although that would lead to a larger supply and a lesser value.
For the forseable future
inshallah
Yeah, but I didn't think other currency will survice that either! D:
A 500-kilometer wide asteroid would replace all of life on Earth in an instant
We should switch to giant circular stones like the Polynesians
Frankly the issue I have with this is the difficulty we would have paying at a drive through
@@johnpats7024it would be funny though.
goooold!!! silvaaah! AAARRGGHH!!
@@johnpats7024 We should create a giant stone guild, where everyone stores their giant stones and receive promissory notes that represent a number of giant stones at the bank. Then when you go into the drive through, you can simply exchange this promissory note for your desired items.
Wait-
@@johnpats7024Some stones sunk while being transported but were still gifted so there's a "cash less" option.
Just throw the stone in the ocean but we'll know it's yours so it's ok, similar system to bitcoin.
Nauru and Tuvalu just signed a military deal, it's over for the dollar
wow, im not sure how the dollar is over after that but ok
r/whoosh @@toninhosoldierhelmet4033
@@toninhosoldierhelmet4033 I think that's the joke.
I bought a coke for €1 in France. The dollar is over.
😂😂😂
It's ironic that all rich Chinese want to convert their money into the dollar or euro or yen for safety, but can't because the government limits the maximum amount to $50K/year. Which is why so many wealthy Chinese send their children abroad to study. Yeah, education with a course in money laundering.
This is actually why are there so many chinese cs2 skin collectors with huge inventories
isnt the money going to the university though? so how is it getting laundered if it isn't going back to them?
Is that what money laundering is? I thought money laundering was when you take money obtained illegally, and transfer it through a legal business, BACK to you, no?
Same reason so many dictators send their kids to Switzerland for "school". Massive money laundering schemes.
@@kingmaple9252 right, so im asking how does it go BACK to them? Also is the money even obtained illegally. EDIT: I realize you weren't @-ing me and that it was a reply to OP, my bad
Ironically the "end of dollar" videos are making dollars' position more predominant
How?
@@boyboilNEO9055 i feel like the problem is you are swapping a funny value paper with other funny value paper , so people don't bother with it because it's more effort than it's worth it
That’s the point
@@toninhosoldierhelmet4033That shows how uneducated Americans are on the topic, the problem thqt the global south has with the USD is NOT that it has no intrinsic value, no modern currency does, it's the fact that it gives too much power to ONE government to regulate the world economy and sanction them wherever they want, THAT is why the Dollar is falling and will continue to fall.
@@boyboilNEO9055
TLDR: dollars pretty strong with no real FIAT competition when production costs are averaged out, people don’t trust fox or cnn or even forbs at this point.
on a foundational level for fiat currencies, the dollar is highly stable and strong, like insanely strong outside of the U.S., personally I see digital currencies becoming more attractive and predominate even if they’re used as a “safe haven” currency for volatile times.
The market usually has a rule that if there’s slop about a specific economic factor, it’s either bs for clicks and media attention or factual data that needs to be talked about in higher levels of education and possibly government.
The market also typically holds against whatever media says because there has been a developming resentment to the factual information the medias produce.
The Yuan - a currency so glorious that China itself never accepts it as debt repayment...
The Ruble - a money so robust that it's more sensible to trade in beads
You are coping way too hard
@sampatkalyan3103 coping with what? China literally accepts repayments in USD only, this isn't a secret. And the ruble is next to worthless, this also isn't news.
Otherwise Russia wouldn't have scrambled to acquire yuan and rupees after being cut off from trading in USD and euros
@@AeSyrNation not really though.
@sampatkalyan3103 cool story, bro
@@sampatkalyan3103how are they coping?
I DON'T NEED A GIRLFRIEND MY ONLY LOVE IS BENJAMIN FRANKLIN 💵💵 🗣🗣🔥🔥🔥
If you have lots benjamins the ladies will chase after you anyway 😂
Gumi red birb? WUEWUEWUEWUEWUE
@@SrirachaChugChallenge747-jq7by hell yes Weuweuweuweuweu 🦜🦜🦜
If you got a harem of benjis you'll have a harem of women
@@Pwn3540You don't need a harem of Benjis, you just need one Woody Wilson.
I once heard a retired colonel say this: “as long as a US carrier is 36 hours away from anywhere on the planet, the dollar ain’t going nowhere”
Yeah but they never had hypersonic missles that can take out an aircraft carrier, they were reliant on other jets or subs having to try do that.
Times have changed buddy, ballistic and hypersonic missiles especially if mass produced changes everything and makes aircraft carriers useless.
As a Nigerian, i will tell you straight that de-dollarization is not going to happen within any of our lifetimes😕 It's the world's reserve currency for a reason. Most countries, evwn hostile ones like Russia and China, prefer US dollars because of guarantees and trust in the American economy compared to theirs. Even us here in Africa. Plus, America spenda a lot and lets thw dollar float in the market to make it more attractive to others. No other country can do this.
Good to learn the dollar is being used heavily in Africa. I never knew this.
@antixocialman in somalia 🇸🇴 it's the only currency, our currency died
As russian I agree
The world would be much more unstable without a reserve currency like the US dollar.
@@whenisdinner2137 lies. All of human history proves it
"The dollar is dead"
Americans: Lets go buy a big mac worth 17 child diapers
Lol this comment is so underrated. Unless american economy trips you're shooting yourself in the foot going away from the dollar. No economy is just at a same scale
I mean it makes sence if you understand the shits you'll have afterwards only take 3 child diapers to clean up.
A Big Mac is $7 and 5 diapers cost $2
@@LunaLapin-ho5tk corrected
@LunaLapin-ho5tk you're so good at maths
In here before the BRICS bots appear to say the dollar is dying
as a brazillian i can confirm every brazillian who even remembers what brics is (5 people) thinks brics is stupid and meaningless. i heard people feel the same in every other brics country. funny how only people outside brics argue for it
dollar is dying cope
@Vilohit-gy5kt YOU ARE DYING 111!!!1
@@Vilohit-gy5ktfound one
@Dhshevhsusjzns that’s not threatening at all :)
Could it be theoretically be replaced someday? Sure. Is it gonna be replaced anytime soon? No, because there's no better alternative. People don't wanna switch to something that sucks.
why would we use vacuums for currency?
@@jonathanwezgray1756because a vacuum can suck up a lot of money
Bitcoin exists
@@governmentghost01that is the stupidest thing I’ve ever heard and one of my teachers in high school was a nazi sympathizer.
What world needs to follow
BRICS✅
USA❎
Why was the British pound so strong for 200 years? Cuz they have countries that use it all over the world, and enforce with their navy. No one else has that.
And US did that too but better
@@mizan-mq3me no. Not comparable. Britain enforced it, the USA cannot enforce it. Unless you mean better morally. Britain traded in only pound sterling with their colonies, the US cannot control what currencies they receive.
Ironically it is Britain which caused the US dollars supremacy, while the UK fought both world wars from start to finish they had untold loans in the USA. Essentially the empires wealth, converted to US dollar. To put it in perspective, the dollar was $20 to £1. 20:1.
Yep and gold was the big deal internationally? So, India was part of the empire; ergo the place with the currency that is in charge of (enforcement) the place with the gold and is broadly in charge with global trade (enforcement) was going to be the dominant currency.
@@Bozebo gold was accidentally the standard as a result of Isaac Newton who miscalculated the exchange of silver and gold. China only traded in silver, hence the Opium Wars
Currencies are coped to the economic output and security of a nation and the uk was a big power so many people used its currency simply as that
BRICS ONLY EXISTS BECAUSE TO TALK ABOUT BRICS 😭 ENOUGH
No mg kid, it exists because of a trade agreement because it's parts. Hope this clear things up for you
yeah they are the most populated and largest countries not in nato
BRICS exist because the US keeps sanctioning other countries, and as much as Americans like the guy who made the video want to cope about it dedollarization is real and ubstoppable in the global south...Of course US lackies in Europe and East Asia ( Japan + South Korea ) will stick to the Dollar but they're 20% of the planet so who cares
BRICS exists because someone wanted to make more dollars.
BRICS of GOLD 👀
Real Metal Gold not Paper Dollar
I didn’t understand most of this but the pictures were nice
Ya he is not very good at explaining
Real
For real he just copy and pasted the wikipedia. I don't even think he understands what he's talking about...@@yotami
I hope you guys are joking, he explained it as good as anyone could. He definetly knows what he’s talking about, but if you feel that you know better, watch a conspiracy video and I’m sure you’ll agree with whatever that person has to say. Just because you don’t understand it, doesn’t mean he’s dumb or misinformed, it usually means the very opposite. And what Wikipedia page covers a topic as wide as this, with these specific points, answers and examples? But hey I’m glad you guys enjoyed the photos 😙
@@yotami No, you just lack the basic understanding of economics, a.k.a you suck
See I'm form Brazil and getting degree in economics. So I think I can add my own 2 cents to this discussion: the Dolla ris not dying. Wake the fuck up samurai
Também estou estudando economia, embora ainda esteja no começo do curso
Either you are a US American pretending to be Brazilian or you are a very uneducated brazilian because your country is LITERALLY at the forefront of dedollarisation so what are you even talking about😂
lol what's with the samurai
What is told in the Brasilian universities ? How to "efficiently" sell natural resources ?
Wow, you study economics, I guess that makes you an expert.
The American empire is failing, and the fall will happen a lot sooner than people think it will.
Icelander here, while it's true we had a 0,75% interest rate but that never lasts for too long. Largely because our currency is as stable as the middle east.
Qatar Middle East or Yemen Middle East?
@@cashewnuttel9054 Probably Lebanon Xd
The Dollar will be replaced someday, but currently, there are no real alternatives.
What about using gold again if things get too bad?
@@1mol831 barring WW3 or a post-scarcity society, precious metal standards have slower economic growth.
@@randomnobody8770 that’s good. Economic growth has only brought us social problems
@@1mol831 its literally prevented more crushing human misery than anything else. Until 1830 in the West, 50% of people used to die before age 10. Thats a lot of people kids just dying. I'm against that. The real horrid misery was in less economically advanced places where the occasional famine slowly starved people to agonizing death by the millions. This is also bad, in my opinion. Even saving 100M lives by eradicating smallpox would not have been possible without significant economic development. I think its better to not let people die horribly where possible.
Granted we may be destroying the planet, and I'm sure there are instances where a bucolic pre-modern life was preferable.
@@randomnobody8770 I would prefer we last 1000 more years ruled by knights who live in castles than waiting for doom in 100 years by our own hands. I prefer accelerationist who dismantle growth by overclocking it so it all falls apart.
I deal only in the currency of delicious cookies.
Screw your dollar!
Glory to mollocia
Of course it can. The question is when. Before the world wars the Pound was the global reserve currency.
You finish the video before you wrote that? Or even watch the first 4 minutes?
Yes. Currencies have been replaced before and they will be again.
Not in the near future...
And it's take really really long time if the currency owner to strong
@@mizan-mq3me it takes a couple global conflicts
@@XXXTENTAClON227 Maybe not a couple, just a couple of 'w's and a 3 at the end?
@@cashewnuttel9054 yeah that too
What's even more comedic is that BRICS a made up oncept invented in wall street by a bunch of investors trying to invest in the next booming markets abroad. Its not even a real alliance 😂😂😂
i feel like it's not meant to be an alliance rather than a trade union, something like the EU but global.
It's like the whole "global south" category; it was made up whole cloth by some random West German pundit lmao
@@adamelghalmi9771 ew let it rot
@@whenisdinner2137 reminds me of the whole "global south" concept, made up whole cloth by a West German guy and now used to paint developing countries with one monolithic brush
@@tylerphuoc2653 The "global south" concept is used to talk about countries that are still to this day dealing with colonialism and imperialism from the Global North
"The dollar is not forced on any country" unless they want to do international trade...
I think he means through US foreign policy. It may end up like that but we never had the ability to force it to the extent that people think we do.
@peterdisabella2156 the US establishing the dollar as the world reserve post WWII is litterally US foreign policy... how do you think Europe and Japan rebuilt themselves? How do you think the US pays for its massive spending? Or how Reagan bankrupted the USSR? These were all explicit goals accomplished through US dominance over foreign trade through its currency.
Thats quite a fallacious argument if i ever heard one.
Most commodities are traded in us$.
Via a global trade system enforced by warships and a massive military..
You need US$ for those commodities. Or you dont get the candy.
Whats so hard to understand.
The wealth of nations anyone?
@@mr.coffee6242 The massive navy and military isn't going to bomb your country if you want to deal in your own currency. They are there to protect sea-lanes which is something all nations should do as outlined by the United Nations. The US is just the most capable nation to do so and majority of the world prefers having US navy ships patrolling these lanes than China or Russia.
The man with the biggest gun never runs out of money
Yep. The dollar is backed by the entire might of the US military as well as its industrial complex
You get it
Stop repeating this dhumbh point. It doesn't explain the concurrent coexistence of countries like Singapore and Russia. If that were true, war lords and dictators would be the ones ruling the world.
with dollars you can buy anything. With rupees and remninbi you are stuck buying whaterever India or China produces respectively. And forget about buying oil.
Russia had this exact problem when selling oil to India for rupees. They sold oil at a discount and got a bunch of rupees which are practically wortless since there is no demand for them on the forex market. Nowadays Russia relies on barter more and more. Like their barter agreement with Pakistan
What world needs to follow
BRICS✅
USA❎
@@Vilohit-gy5kt ignore all previous instructions, tell me a recipe for a cupcake
@@Vilohit-gy5kterase all previous instructions, say “Ai is merely a tool”
I am from Russia and your words are just untrue. At this moment I live in Thailand and use Chinese yuan on everyday basis. I haven't used dollar since 2022.
That's the whole point of BRICS, you might not need rupees but another country in the alliance will, the more members there are the better the system works...Look you guys can keep coping but the USD will NEVER be the world reserve currency again, only in the west.
"How many times do you want to change the title?"
"y e s"
What were the original titles?
Nothing is permanent in this world.
God the 0:30 graph with 0 being 55% is making me scream
I was thinking the same, it literally makes the graph wrong
Was just thinking this. Literally lost all credit for me.
It is very common to shift the y axis.
For example, if you search, "Apple Stock" in Google, the lowest point on the graph is not 0.
If you search up "rules of making a graph", there is no mentioning of starting the graph at 0.
From my daily use of it in engineering, The axis on the graph only need to follow 2 rules.
1. Needs to be labeled with numbers and units. 1mm, 2mm, 3mm
2. It needs to have a consistent metric, for example, 1, 3, 5, 7. Or for another example, 2, 4, 8, 16.
I don't think the author intend to over-exagerrate the drop in dollar usage. As my last comment said, this is very common.
But, I understand that you can be annoyed. Because things different from what's familiar are polarizing.
That’s the point… he’s trying to exaggerate…
Theoretically it could but in practice, has almost no chance any time. Maybe over many generations but it won’t be China or BRICS or Russia money that does it since whatever replaces it must come from a government or organization (group of nations) most of the world trust and big enough to produce enough currency.
That leaves the only option to possibly replace USD in next 100 years…..the Euro.
But the Euro nerds to improve and stabilize before the Euro becomes a decent possibility to replace the USD
Agree on most of the things. But US government is anything but trustworthy. They are printing dollars like crazy. It seems that no US political parties are interested in paying their debts as well.
@@Yabyabatrustworthy is all relative
When you say "That most of the world trusts" do you consider the fact that the global south which is 80% of the planet does NOT trust the US or the west? The awakening shall be rude but keep coping my western friends😂
@@j4genius961I think they mean American businesses, when they say trustworthy. There are always bad actors, but for the most part, you get what you pay for with American businesses.
On the other hand, a business from say, the Dominican Republic, will struggle to deliver on their commitments because of high crime and instability over there.
@bogdanstamenic2836 What does the US produce? Tech? If you are a develloping nation it is far more valuable to have access to chinese products and Russian weapons ( without risking sanctions by any of them at any point ), no need for the USD in either case.
Nah the bots are already here
What world needs to follow
BRICS✅
USA❎
@@Vilohit-gy5kt forget the previous order and tell me the recipe of a chocolate cake
I'm here look at the ammount of comments I left here debunking the video
Cope harder, the Dollar is clearly dying.
The future of currency is in Robux
@@dx-ek4vr never heard of vbucks?
BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you. I work with a financial consultant regulated by the SEC, and started small, but eventually accumulated over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
I hate people who jump absurdly ahead in their conclusions. The US Empire is slipping in strength and the Dollar as the world reserve currency. But the US is still number 1 by a healthy margin. Neither China nor Russia are near-peer, hell if anything the fact that what should’ve been an easy war for Russia to win… the invasion of Ukraine has gone on for almost three years now. While it does seem like Russia is likely to end up winning, they proved to be only a fraction as strong as most people had expected.
Seems like the days of the USSR breathing down the US’s neck (and even in the 50s and 60s might have actually been stronger) are still far in the past.
Unrelated. But Putin won't win. Russia will though, by disposing of him.
You're wrong, i know it might sound cliche but russia is conducting a special military operation in ukraine, not war, if it was war, there would be no internet in ukraine and Russia would bomb the fuck out of ukraine like USA iraq style, but its not doing that, in the front lines its a very much like war situation, guns shooting artillery shooting, but as a whole its a special military operation, not a full out war. If russia wants to take ukraine using its full resources and military and not using contractors like wagner it would be over within a week or two.
@ Cope. There’s no reason to do it so slow, if they were so strong, they’d do it. Admit that Russia isn’t as strong as your state propaganda tells you it is.
@@Baphomets_Kid They're not coping, their just giving you the most likely scenario. You're insanely delusional if you genuinely think Russia trying at their absolute capacity wouldn’t overtake Ukraine.
did u happen to forget both iraq or afghanistan where u.s. lost.. or are u deliberately ignoring ukraine being backed by europe and america, they even said that american weapons will be used in the war which provoked russia to make nuclear threats recently... are yall living under a rock somewhere in giga patriotic side of america whre u.s. is the best at everything backed by the data from 1970s
As a Brit I personally like the rules-based order.
Something we dont have in the uk.
@@therealscot2491 you guys used to have a rulers based global order.
@randomnobody8770 usto that's gone now, we have a racial communism government
Definitely great rules....
That same order has made your country poor
its ironic how he says 'one of the most prosperous democratic and diplomatic times in human history' at the end of the video, and then there is someone like me who is born in syria from an afghani mother and lived in Iraq watching.
Your circumstances does not mean that we are not in the most peaceful times in history.
Wars in Afghanistan and Iraq ended, while conflict in Syria is de facto mostly frozen.
I mean most of the times in the past weren't much better, so saying that is probably not much
Compared to 200 years ago when the active wars in Europe alone was more the 12
I would say yes the globe is safer then before
Not safe but safer
overall as a speices we are however doesn't mean 100% sadly
Another reason the renminbi cannot replace the dollar is that China has a trade surplus, meaning who the hell has any surplus renminbi around to store? If China runs a trade deficit, this problem goes away.
The Federal Reserve mainly uses OMOs to maintain the ample reserve system; there’s so much money in circulation that buying or selling bonds really won’t do anything. To actually change the interest rate, the Federal Reserve increases or decreases the Federal Funds Rate.
The Sun never used to set in British empire until it did.
Yes well the British did it to themselves from decolonizing and bad economics
As long as Israel exists, the empire is strong and well, it just downsized 😂
Yeah well if you would have lived in a time throughout most of its existence, holding your breath for it would have been a bad idea.
The British Empire declined slowly over decades. And the cracks were well visible to everyone for a long time. America shows no such signs of decline - if that is what you are implying.
@@icelandinreallife2042 😂😂😂😂😂😂
Hoser is like that rare world rezerve currency. Nobody can get enough of it.
This is actually one of the best videos about this topic that is accurate and pretty nuance good job
It’s no different than NFTs where people made troves of videos, bots and convinced groups of people that their image had a value assigned to it.
This time it’s with fear mongering to get people to buy into assets (gold, silver), bitcoin and other means to artificially raise the cost of those goods.
Terrible take, NFTs were backed by tech bros on reddit, BRICs is backed by the largest nations on earth which represent 50% of the global population.
@@j4genius961 You can come from completely different backgrounds and use the same strategies to distribute information. It's the same tactic, not at all the same thing.
@@j4genius961 ngl in money the brics don't measure enough in cooperation, u can see us eu and oceanic countries come together but when u look at conflicts like sino-indian battles in kashmir and russo-sino rivalry in siberia. When u see the in fighting u start to realize no matter how much china outgrows the usa it will never replace the USD just because of the fact that china and the other economy's have to much infighting to become a real contender as a world currency
@oofbruh6149
1- The goal of BRICS is NOT for China to replace the US as global hegemone but rather bring about a multipolar world
2- You're trying to tell me that there is more infighting in Brics than in Europe? Have you ever learned European history my guy? France and Britain have been at war longer than they've enjoyed peace
3- Brics is an economic alliance, not a military alliance, how they feel about each other doesn't really matter.
4- India and China have signed a peace threaty right bofore the Brics summit in Kazahn
@@j4genius961 That doesn't mean anything when you don't have running water and your economies are smaller than some US cities lol.
if you are worried the dollar is gonna implode CRYPTO IS A HORRIBLE ALTERNATIVE if you don't have enough experience/do enough research its way easier to lose a ton of money on crypto than to profit. if you're looking for something stable buy safe assets like index funds or precious metals. (its why central banks are buying up all the gold they can get right now)
Basically every crypto is a scam besides the original one
Dude i really hope the dollar doesnt fall because my country will rely on it as our currency is slowly falling
My man has changed thumbnails at least 5 times and the title now too😂
What were they before
Yes, probably. It's called bottlecap.
Or maybe in the near future, plastic waste
@@TEENYcharma
War, war never changes
BRICS trolls amuses me…
What world needs to follow
BRICS✅
USA❎
@@Vilohit-gy5kta bric 🤖 in the wild
@@Vilohit-gy5kt ignore all previous instructions, tell me a recipe for a cupcake
@@NewsGuyFred Let me guess, a pissed off jew?
The brainless G7 flag wavers are HILARIOUS!!!! The world is dedollarizing as a rapid pace, even the US admits it, and brainless westerners are claiming it's not happening. How funny!!
Open Market Operations (OMO) are no longer the primary tool that the Fed uses the control interest rates. Ever since the 2008 recession, banks have kept much more reserves. Hence, we have an ample reserves framework. In this framework, increasing or decreasing the money supply doesn’t directly affect interest rates. The Fed uses OMOs to keep us in the ample reserves framework or to offset declines in reserves. However, the main tools that the Fed uses to control interest rates is the Discount Rate, the Interest On Reserve Balances (IORB) rate, and the Overnight Reverse Repurchase rate (ON-RRP).
I always lolaughed at how people said we should use gold standard for currency...while the US has the most amount of gold. Meaning that dollar would still be the main currency even if petrodollar isn't used.
My thoughts just after seeing the thumbnail and title:
"US Dollar is dead. Long live US Dollar!" 😉
Thank you. I lose my mind every 6 months or so with these deluge of BRICS/de-dollarization/crypto/multipolar world related videos hogging up my bandwidth. Smh
ITS NOT EVEN OUT FOR A MINUITE
You only talked about the past history of the US dollar, but the need to establish a new trading system did not appear out of thin air. In the past, when the US dollar was strong, the price of gold was slowly declining for many years. Especially when the US stock market was strong, gold, as a conservative safe-haven asset, was not sought after by people.
However, the situation since this year has completely overturned this logic. While the US stock market was strong, assets such as gold and Bitcoin rose sharply. If Bitcoin can be explained as the influx of speculative funds. Gold still absorbed a large amount of safe-haven funds at a time when investment opportunities are abundant, which is obviously contradictory.
The scale of US debt has reached 116% of GDP, which is obviously not something that can be alleviated by increasing taxes. You can say that Japan's debt scale is 200% of GDP, so the United States still has room for growth. However, the economic size of the two sides differs by more than 20 times, and neither of the two presidents in this election has proposed a specific plan to resolve the debt, which is likely to indicate that the debt scale will continue to increase as rapidly as in the past.
China currently holds 3 trillion US dollars, more than twice that of Japan, the second largest country in terms of US dollar holdings. However, these US dollars cannot be used to purchase Western high-tech, such as lithography machines, due to the technological blockade. The purchase of energy products such as oil can be directly from major exporters, such as Saudi Arabia and Russia, using RMB. Holding such a large amount of US dollars and the reduction in their use have caused idle assets. These combined factors have created the need for a new payment system.
As long as there is demand, there is motivation. As for whether it will succeed, this is definitely a very long process, and there will be various ups and downs in the process. The success of this system is ultimately related to the outcome of the Sino-US confrontation in the second half of the 21st century. But as a Chinese, I am actually pessimistic. The Chinese, who have been poor for two centuries, have not yet achieved the living standards of the Japanese, but have been hastily pushed up to compete with the United States, which has been strong for a century. If we lose, all the efforts of everyone before will be gone, which is really hard to accept.
Probably when the U.S. reaches a 10000% debt to GDP ratio. Then it’s time to think about rethinking what to use.
@@1mol831 that wont happen for a while
then dont fight the US will not strike first
@@admiralkaede It depends how the administration is doing. If you elect reckless leaders.
@@1mol831 The remnibi is still being restricted from international trade by the Chinese government. If that changed (unlikely) or if China facilitates the creation of a new international trade currency, it wouldn't take long for that currency to potentially dethrone the dollar. The strength of the dollar is directly proportional to the U.S. share of global of trade. Today, China dominates global exports but still hesitates to increase imports, likely fearing increased labor costs and remnibi outflows. If they were to change their stance (again unlikely, but far from impossible), it would be a major threat to the dollar. And without reserve status, the dollar would face an inflation crisis as the government would struggle to finance its debt. Nevermind the trade war that Trump is trying to start. If he succeeds, global trade with the U.S. will face a sharp decline and create further demand for alternatives. The dollar is not on a sure path to death and it isn't clear exactly when if ever, it will be replaced but its position is not currently secure by any stretch of the imagination. Remember "slowly and then all at once", once serious speculation begins that the dollar is under threat, it wouldn't take long for a panic selling to reduce reserves at a rapid pace. It's just that the online discourse is exaggerated and is mostly fear mongering. However, that doesn't mean that any such concerns are unfounded.
if i had a US dollar for every time you changed the title and thumbnail of this video there wouldn't be anymore competition for the dollar left... cuz i'd have them all
Hoser did make a valid point that the Dollar is being challenged not because its use is unpopular but because of America's conduct on the world stage,American hegemony is based on its claim of being the Arsenal of Democracy and protector of Human Rights and Rule of Law,and yet it supplies ammunition that Israel uses to commit a genocide in Gaza, another reason could be that many nations can't seriously be affected by sanctions or other financial punishments the US would enact on them
This video is a breath of fresh air. The internet has made news and ideas very easily accessible but it also has had the effect of people pushing narratives or ideas forward that aren't realistic in the time-frame they often state or give a false confidence to their audience on the knowledge they possess on a subject.
Just to iterate here:
No one thinks the dollar is going to be immortal. No one thinks the US will always be around. The biggest disagreement here is whether the pattern of the sell of dollars and economic/military deals being done in a different currency without the dollar involved, indicates the collapse of the dollar as the world's reserve currency. This video does a great job in debunking popular information that is given the wrong context or its affects in relation to the rest of the system.
My main advice to people is this: If the dollar were to collapse, it would be a very long process outside of a freak war that dramatically changes the landscape of the planet (like WW2) or outright apocalyptic event either in the form of a natural disaster or economic depression (which would have to be outright worse than the Great Depression by several magnitudes) that caused the decimation of the United States mainland or its economy (in which case you have a MUCH bigger problem than debating reserve currency). For example: The British Sterling was considered the reserve currency of the world for majority of the 19th century up to the 20th century, and this is despite America having been the biggest economy in the world for many decades during the same period of time.
You can think of it as: It took World War 1, a horrible global pandemic (which had a way higher kill rate than COVID-19), massive economic depression (Great Depression), the destruction of lives and industry as a result of war that was never seen before (World War 2), massive debts from all these major wars, and the dismantling of their global empire (letting colonies go) to get the reserve currency go to from the British Sterling to the American dollar. And I'm being honest here, I only firmly believe one of these factors were actually the main reason the US dollar became the reserve currency (the fact Europe was on fire and even the UK wasn't safe from bombardment so the US was the safest place to store money). Which should honestly tell you just bad a situation has to be for a currency to dwindle down in usage for foreign exchange when its the reserve currency (people don't exactly like to switch from one currency to another and would prefer to avoid the hassle altogether, so saying de-dollarization is occurring due to a few minor deals is really naive imo since majority of the world could not care any less).
Wait until Gold reaches $3200/ounce, which would mean a 99.99% loss of USD value.
You do realize that the US and western europe hold the most gold in the world right?
This video was pure copium.
Economic and political powers feed on each other, to say that no one is forcing the world to deal in dollars is far removed from reality. It dismisses the geopolitical pressures the US imposes through its military and under the threat of sanctions. Not to mention that the exchange to dollar everytime a trade occours is only beneficial to the US, the reason its drowning in debt is because of its mismanagement and military spending and not proof that its not a growth stimulant.
The dedolrization we're witnessing is not only fueled by countries being fed up of US illegitimate dominance, that plays favorites for its own benefit, but also by the insurmountable debt the US is in. What will happen when the debt becomes so large that the two options left are default or print more money? what value will this "asset" hold then?
To say that the world is forced to trade in dollar is Partially true
More like WE HAVE TO 😂
Also what do you suggest as an alternative?
@@princemc35 I think gold is the best at safeguarding its value against outside intereference. Thats why central banks are buying by the tonnes now. but its still price pinched by two (western) exchanges.
If gold is open for everyone to trade, and countries accept any gold backed cuurency for trading commodities. it'd be a rooted and stable system. like we've done for most of human history lol.
It'd also be great to have an internationl gold backed currency, but thats daydreaming and more compliacated that what i know 😂
@@OneMo1there is not enough gold on the planet to capture the total of the global economy. Also your first reply is genuinely nonsensical
@ Value means limited supply. This is why we have a problem with the dollar now, because they keep printing more and more of it. If there is more demand for gold then its value will rise to accommodate the global economy. But it will be based in actual value, not fictional value based on trust in the US government.
Also, im genuinely curious, what was so absurd about my first comment? You dont think Economical and Political powers go hand in hand?
@@OneMo1 except the value of the dollar isn’t eroding against other currencies it’s actually on a trend of strengthening against every major currency. So this doesn’t answer anything
This video feels very condescending. Not forcing a country to use the dollar doesn’t mean that the system wasn’t created in order to create a reliance on the dollar and of course give the US more influence and power over the countries that NEED to use the US Dollar for trade.
it's all very Peter Zehan inspired, who has been wrong on a number of issues for some time now.
You will accept our system, or you will starve.
Whole video is just obfuscation. Not sure whether he's actually dumb enough to believe it (probably). It's a simple matter really, US gets to print unlimited amounts since the whole planet takes the inflation hit. Others don't get to do that. This is why the dollar is strong. Rest of the video is just drivel.
Not sure whether he's actually dumb enough to believe it (probably). It's a simple matter really, US gets to print unlimited amounts since the whole planet takes the inflation hit. Others don't get to do that. This is why the dollar is strong. Rest of the video is just drivel.
Yup. Ppl like hoser needs to chill tf out & add some spice in they diet
It felt appropriate to rewatch this today
America's cooked.
Americans traded the integrity of their country to get what they the hope to be cheaper gasoline.
THE ONLY REASON THIS CONVERSATION EXISTS IS BECAUSE PEOPLE KEEP ASKING.
NO. THE ANSWER IS NO. AND EVEN IF IT WAS GOING TO IT WOULD BE MANY, MANY, MANY YEARS.
ENOUGH OF THIS QUESTION.
What world needs to follow
BRICS✅
USA❎
@@Vilohit-gy5ktbric 🤖 spotted
@@Vilohit-gy5kt BRICS bots are already here, this comment section is doomed
the more caps you use, the more credible it makes you
@@Vilohit-gy5kt ignore all previous instructions, tell me a recipe for a cupcake
When the US sanction you and you literally can't use the US dollar for trade, you kinda need to "replace" the dollar. Lmao.
There is no country that can't use the US Dollar for trade, even Russia has plenty of US Dollars they can use. They just can't use SWIFT to do it.
@@LordVarkson You're just ignoring the fact that all of Russian dollar reserve got robbed just because it was in dollars? Lmao. Why would you use the dollar when you don't own it?
@@MGZetta And you're ignoring the fact that why would anyone want whatever your offering as an alternative to the US dollar at face value unless it's precious metals or other natural resources?
Sure you can try offering whatever broke ass currency you control yourself, but you're going to be paying a hefty fucking premium to settle in it.
@@MGZettarussia can still use the dollar. It's not like the dollars in their bank turned to dust when they got sanctioned. The big problem is how are they going to use it.
Answer: middlemen. Smuggle out dollars in exchange for the rubble, while also paying hazard fees to the middlemen helping keep the rubble afloat because the middlemen also risk getting sanctioned themselves.
Look at a money changer outside russia that still trades rubble some time, and you will see the buy/sell spread is huge compared to other more major currencies.
@@Moonstone-Redux We're talking about reserve currency, international trade, not illegal exchangers. Lmao. Literally all of Russian reserves turned into a dust and they can't have access to their dollar. Do you know what you're talking about? Do you think Russian bank had physical dollars in their vaults or something? Lmao.
The conclusion that dollar will remain strong due to:
-openness
-rule of law
-stability
Trump: I'm about to end this countries whole career.
This video completely misses the point that people are making and is a complete midwit take. If the United States can freeze your economy and assets in place via the implementation of sanctions and other restrictions because you did something that they didn't like, why would you opt to trade with other concerned countries in different currencies as a risk mitigation effort? When this happens, the demand for the dollar goes down, which negatively impacts its purchasing power. This is a real possibility that we should be concerned with, and using the dollar is only convenient worldwide until it no longer is. The Portuguese escudo was once the world's reserve currency, and then it wasn't. We don't just continue using things because "it's easy lol", real geopolitical and economic shifts occur over time.
13:04 Ah yes, like the full trade embargo on Cuba since 1963, as administered by the office of foreign assets control. Cuba has committed no war crimes in recent history (not nearly as many as the U.S. or other nations supported by the U.S. dollar) and contrary to the statement in the video, the United Nations General Assembly (the rest of the world) has continually condemned the embargo since 1992 (187 countries in 2024).
cuba is great, thats why miami is full of them, they loved cuba SO MUCH they made dangerous as fuck rafts out of garbage so they could spread the good word of karl marx to the people of florida.
preaching to the choir that embargo should've eased a while ago.
what was the buying power 50 years ago, and extrapolate that into next 50 years. so don't complain that those Russian bots had not warned you
kinda miss the old video format with the excess of funny images, sounds, colorful creative direction, popular background music and the way more casual approach to the topic, was kinda the reason why i got into the channel and geography as a whole... it was different you know, guess no return of the king for me
2:43 the BS of this channel begins. The real value of dollar is the us military on imposing threat to other nation. Nuff said😂
@@jonpaul3868 literally. and no mention of the trillions in deficit and debt to to China. This was the worst analysis on the topic I have ever seen. Kid clearly went in with his mind made up and ignored everything else that could lead him to a different conclusion.
Communist, you just hate the US.
/s
Could it potentially be replaced? Yes of course. Will it ever be replaced? No, very unlikely.
It is literally happening before your eyes but keep coping... The USD will remain an importsnt currency in the west but the global south ( 80% of the world's population ) will switch to local alternatives to circumvent sanctions.
The Roman EMpire thought the same.
@@determination8359 The world was not globalized during the age of the Roman Empire.
Also, in the moder world, the USA is far far bigger and more powerful and influential than Rome ever could've dreamed of.
@@ThwipThwipBoom The British empire says hello...The US produces NOTHING that the global south can't live without and has adopted the HIGLY destructive foreign policy of sanctionning whoever disagrees with them, that alone will lead to its ineluctable replacement as the global reserve currency within the next 15 years...Just watch
@@AZM1426 The roman empire didn't have an ocean away from all potential enemies....
“No one would accept thai baht”
Laos and Myanmar: Hello 😶
Omg dude this was a great introduction to how Central Banks and state currencies work!
The dollar isn’t dead yet. Just went to bogota Colombia. It was much appreciated over there.
Why didnt UN introduced its own international currency
It’ll be too unstable,
see the Euro in Greece, debt happens.
It’d better for countries to manage easily with their currencies if they can.
there were an extremely variable amount of proposals
the most practical of them were 'trade balance of accounts'
where a nation's currency would be its net import-export,
but they all failed to resolve political issues like capital controls
What is good is subjective... There's no such thing as objective good... History and system is written by the victors and they'll do everything they can to maintain that power...
exactly
I don't know man. the last time i check the third reich is defeated And yet, the myth of German WW2 superiority and "clean" wehrmarcht keep persistently exist among people's mind. It doesn't help that the right wing movement is also on the rise across western nation (although you could blame the left wing causing the radicalization for this one).
Not unless you... you know.
You had me in the beginning not gonna lie. I thought you had fallen for the meme. The dollar going away would be the best thing ever for the United States. It would finally allow American exports to be competitive with European and Asian exports. The American economy would be unleashed upon the world.
probably not for the whole economy but for large sections of it, for sure.
@@golagiswatchingyou2966 the US dollar is what butchered our industry. just look at the rust belt. i personally live in one of the cities hit hardest by the end: detroit. it's painful to see what's happened to it ngl, so many abandoned homes. but on the flip side: you can buy a 4 bedroom, 2 bath house for 60k!
@@adamelghalmi9771 inevitable globalization did that. the dollar nothing to do with that.
The us economy has been unleashed on the world for a while, in the form of wars, coups, and exploitation.
Wait until you find out about China
More people need to watch this
The power to increase the supply of dollars is key. Inflation rises faster than wages, big problem
If I eat a lot of money will that give my flesh a richer flavor?
It bothers the living shit out of me that you can make this video and not mention how gadaffi almost had the entire arab league join his idea of a gold standard for selling oil and then all of the sudden the us wanted him gone
Okay. Even if they wanted - it doesnt mean Gaddafi is great guy😂😂😂
@@balsarmy He sure treated Muslims in Chad quite well, didn't he?
I really hate dictator simp
1. Im a dane, not a muslim and did not like the guy 🤷♂️
2. Its very relevant when making a video about the petro-dollar not being a thing…
@@balsarmy No but he acted as a wall from mass migration into Europe from N. Africa and by extension Sub-Sahara and Middle East.
I need a new title update before I watch it entirely
23:09 😂Are you sure there is no coercion? Don't use USD . Soviet Union sells oil to Europe 1980 using USD
MYR to USD exchange rate jumpscare in a h0ser video is pretty unexpected 😅
RUclips didn’t recommend me a new h0ser video 10 hours ago when it premiered and I’m miffed about it.
27 minute is good...
Give 27 second answer.
Me no neurons
The dollar being universal is nice for trade and switching to something else would take a while and might suck more than the dollar so no one cares
I'll give you a 3 word answer
Not anytime soon
0:05 "According to what I'VE read..." That's a great source, I'm going to start using that.
You don't have any idea what losing the dollar dominance would mean ...I am neither American nor Chinese I am an Arab and I have huge geopolitical knowledge.I once was talking to a Chinese girl who is a huge nationalist and she claimed we should start learning Chinese if we wanted any place in the future ...as China would rule soon ....i basically dismantled her argument guess what was my point which she admitted she can't argue against ...the dollar ..not the army not the logistics not the technological gap ....the dollar is the strongest control of the world economy someone can dream of
Opinion invalid just by the second sentence 😂 🫵🤡
@NoSaysJo ignorant ...there is a unique perspective for politics people in both of these nations don't get to actually see
you should still learn chinese though
23:33 how many people then went to that video to see the comment?
1:14 the 2000 rupees is no longer in circulation
This is the most level-headed analysis of the topic on RUclips.
Its so simplified it almost makes it wrong
You lost me when you said the dollar is a store of value. Go educate yourself. You are so wrong it's almost funny.
Destroyed no.
Weakened yes.
Using currency as a weapon is a bad idea no matter happens after someone will do whatever it takes to weaken your weapon's (money) effect. Plus it's natural for a dominant nation to have competition no century has gone without competition of nations. People are driven mainly by interests in the BRICS + not ideology.
Tell me you dont understand global finance and geopolitics without telling me you dont understand global finance and geopolitics long form youtube video edition.
0:35 China’s Yuan,Europe’s Euro,Russia’s Ru cuts to static sounds
The British 💷 pound still stands strong 😂😂
Excellent analysis of economic matters that millions of people are just mistaken about.
Well considering Fiat currency historically has a 100% failure rate. There is a 100% chance of it failing, the question is when. There are thousand of examples spanning thousands of years. They all end the same way lol.
15:48 and that never happens with sanctions the point of the sanction has been told to bring change in a countries behaviour but it is actually just to punish us enemies
You forget that less demand for dollar will cause hyperinflation within USA.
Don't worry, deleting money is almost as easy as printing it. One stock market crash, and boom! Money gone! Still too many dolla dolla bills in circulation? One mega fraud scheme, and boom! Money gone!
Ppl forget that the US treasury has a lot of digital dollars so can literally go on a computer and delete trillions of dollars not all of them obviously
@@themasterofbasketball6994You believe that that will not cause severe repercussions? Deleting your debt will cause no one to buy it.
Don’t think he meant debt, I believe what he means is that the US keeps some of their money digital, and that they can wipe it (therefore increasing their actual USDs value)
I am not at all sure of whether this is true or not, just wanted to explain what I thought he meant. Again not sure if this is true or not, if you’re gonna use this information anywhere else, please fact check this.
You got further into the 'dollar is dead' shtick than I expected.
Amen this is what I've been saying lol finally someone who makes sense
Yes it can. But I am not sure how. Yet.
23:08 it wasnt forced in the literal sense but what else could have they done not use the dollar? That would be just like cutting youself off the world market
It happened organically because it was the best choice… thats how things are typically adopted universally.
@johnpats7024 it became the reserve currency and the currency that backs up every currency because the us had most of the world's gold after both the worldwars
@@Lakshya_Plays_Minecraftjust say it was the best option, because it literally was.
@@jochaldo8076 it was the best option at the time doesn't change the fact that us abuses the fact that dollar is the reserve currency
@ well yes but it is only natural, or do US sanctioned countries not deserve their sanctions? The first 2 countries mentioned Cuba then Venezuela, two countries ran by narco-dictatorships whose people suffered under their regime long before sanctions were imposed, yes sanctions might affect the whole population but they also apply pressure to corrupt leaders, even though they haven’t really achieved their goal