Dumping the Dollar

Magnifico!

 

You are right. I can't see it coming.

 

You haven't noticed there are those who are already fighting back ... or the financial crisis of 2007/08?

 

I just don't see an economic crisis on the horizon. Period.

 

And you don't believe that leaving the dollar behind in international trade will facilitate a crisis in the U.S.?

 

I don't think the dollar will be left behind.

 

I think the US economy can survive just fine without reserve currency status, just as every other economy in the world survives just fine without reserve currency status. Kind of foolish to think that somehow the US economy cannot survive what every other economy does.

 

It's the: 'Society for Worldwide Interbank Financial Telecommunication'. I think it's the middle number on the checks and is used to transfer funds all over the world. Since the American dollar is used in the transaction, it keeps it in demand and raises its value.

It also gives Washington the power to track funds, which is a good thing if it is used appropriately and to catch criminals and terrorists. But this oversight of funds by Washington is being abused, so that it sanctions nations at will whenever it serves them.

Russia feared it would be taken off SWIFT with the first sanctions and created its own system which is used domestically. An international system I think would be difficult without a world currency unless it's based on gold. But is there that much gold in the world?

Anyway, I read that Maduro now has a crypto currency, and is also running his gold mines full speed ahead.

 

The other economy's do not have our trillion dollar debt - which by the way keeps our bases and our war machine going. It would be a major adjustment on our part and the Americans are not the same as they were during the last depression, so who knows what will happen?

 

Interesting Russians talking about an unstable dollar. The should examine the Rupee. It went from 6 Rupees to the dollar in 1998 to 70 Rupees to the dollar at present. That is a 91.4% drop in value in 20 years. In a more current look. It went from 55.7 Rupees to the dollar in February to 70 Rupees to the dollar in September. That is a 44% drop in 6 months. I'm sure everyone will jump on this train.

Russian rubles per USD 1998–2018
Year Lowest ↓ Highest ↑ Average
Date Rate Date Rate Rate
1998 1 January 5.9600 29 December 20.9900 9.7945
1999 1 January 20.6500 29 December 27.0000 24.6489
2000 6 January 26.9000 23 February 28.8700 28.1287
2001 4 January 28.1600 18 December 30.3000 29.1753
2002 1 January 30.1372 7 December 31.8600 31.3608
2003 20 December 29.2450 9 January 31.8846 30.6719
2004 30 December 27.7487 1 January 29.4545 28.8080
2005 18 March 27.4611 6 December 28.9978 27.1910
2006 6 December 26.1840 12 January 28.4834 27.1355
2007 24 November 24.2649 13 January 26.5770 25.5808
2008 16 July 23.1255 31 December 29.3804 24.8529
2009 13 November 28.6701 19 February 36.4267 31.7403
2010 16 April 28.9310 8 June 31.7798 30.3679
2011 6 May 27.2625 5 October 32.6799 29.3823
2012 28 March 28.9468 5 June 34.0395 31.0661
2013 5 February 29.9251 5 September 33.4656 31.9063
2014 1 January 32.6587 18 December 67.7851 38.6025
2015 17 April 49.6749 31 December 72.8827 61.3400
2016 30 December 60.2730 22 January 83.5913 66.8336
2017 26 April 55.8453 4 August 60.7503 58.2982
2018 28 February 55.6717 12 September 69.9744

 

I see. But you didn't answer my question.

 

But I don't think it is a matter of surviving the reserved STATUS but of the debt it will cause that will create a great crisis in U.S. economy.

 

We would be fine though it would take a generation to compensate. In fact I would like us to keep pulling back from the world policeman role. My wish is for us to be like a giant Switzerland. Then everyone else can go cry to the Chinese and Russians and see how their new overlords react to their pleas.

 

Do you think everyone is crying to the U.S?

 

When true hell is breaking out yes they do. When the Germans are crossing your borders. When the Russians have decided that your country does not deserve to exist. Then all of a sudden countries turn to us and say "help." Perhaps the next big conflict the USA should just stay out of it and see where the domino's fall. Right now many countries feel safe enough to complain. Strange that they now feel secure enough when it is the USA doing the securing. The next dominant power may not be so benevolent and decide your lands are safer under the boots of their soldiers then the ledgers of American bankers.

 

Russia survived everything Washington could throw at it because it was virtually debt free - thanks to Vladimir Putin. He managed to free the country from the debt accumulated during the Washington controlled Yeltsin years when it was being robbed of its wealth.

As for the sanctions and frictions we have with Russia today, it's because it is dropping the dollar together with China in retaliation to previous sanctions. Our government knows the consequences of what they're doing, but instead of adjusting to a new reality which the Washington idiots caused with their own hubris, they just keep on attacking Russia without any adjustments to our foreign policy and economy.

Hopefully I'm wrong and they are adjusting and taking it into account.

 

Russian Rupee devalued 44% over last 6 months. Oil prices dropping. Is Russia the next Venezuela?

 

WW I? OK.
WWII? OK.
Korea? Initially OK. But since then?

The corruption of the American Military-Industrial Complex, the dissipation of Stalinism, and the passing of Mao Zedong have now firmly placed the U.S. as number one “bad guy”, the biggest threat to world peace it has been described.

Everything is relative, right? Look at the world today. All of the worst “bad guys” we see have become “bad” as a consequence of American treachery. Iran and South Korea in particular. Sure, there are Tyrants here and there. Sure, there have been some awfully nasty events due to the mismanagement of other corrupt powers such as Belgium, Serbia, and Israel but the US remains the international “bad guy” that has created, funded, and supported the worst terrorism the world has ever seen.

The point is that the world isn’t looking for American help. We are looking for the US to butt out. The scale has tipped. The treachery of the U.S. has piled up too high, the good deeds of Russia are taking shape, and better understanding Iran’s and China’s position are making sense. Americans (through disinformation) are holding a false and illogical notion of what the world owes to whom and why. If your best friend betrays you what do you do? Americans are brain-washed into believing that whatever good it might have done “a long, long time ago by Americans who are long dead” will keep the world in perpetually debt merely because of what older generations have experienced. But it doesn’t work that way. If you **** me I don't care what your grandfather did for my grandfather.

Once more .......

* True hell is when Americans today break international law by invading Irak based upon lies about non-existent WMD's.
* It is today the U.S. that is crossing our borders.
* Today it is the U.S. that have decided countries do not deserve to exist.

Can it really be possible that you haven't noticed?

 

What's a Russian Rupee?

 

This above is really everything there is. The U.S. has managed to all but crush Cuba for a crime that Cuba never committed but the U.S. continues to see itself as the victor not of good but of vengeance. They earlier crushed Democracy in Iran and managed to hold that country as hostage until the Islamic Revolution finally tossed the Americans out nearly 30 years later. Now, as you point out, the U.S. is doing the same to Russia - trying anyway. The practice of twisting someone's arm and holding onto it indefinitely is the act of a sadist, particularly when the arm belongs to the innocent. America is the bully who relies on power and intimidation while Russia is now the bespectacled chess-master who outsmarts the bully with the cleverness of a fox.

 

It used to be a Ruble but it is now the Rupee because the Russian people pee down their legs while watching their life saving go down the drain.

 

You are a Bad Boy Bob, but you do have a sense of humour.

 

It already is.....Putinka raised pension age to 65....just above average life expectancy), now many russkis will never see their first pension check, since theyllthprobably be dead)!

 

"Sigh"......another thread about dumping the US greenback.....must be more than about 10 already since I been here, cause I ran outta fingers to count and started on my toes!

Anyway....itsitnot happening anytime soon.....besides what would tinpot dictators like Putinka do?? Or KJU in Korea, or Maduro, I mean if they cashed in those billions of US$$$ into....let say rubles, they would get about $500 bucks in return)). Not exactly a good rate of return afaic.

Nahhh, commodities, the underworld, etc, will still deal in US greenbacks folks....keep dreaming!)

 

"Sigh"...... another person who replies to a thread he doesn't consider worthy of reply but replies anyway only to complain that the thread isn't worthy of reply ..... must be more than about 10 already since I been here, cause I ran outta fingers to count and started on my toes!