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  • Trump’s platform won’t support US dollar’s world’s reserve currency role

    From omfif.org

    The Republican convention platform to ‘Make America Great Again’ with ‘a return to common sense’ is out, with a staccato list of 20 promises, frequently devoid of the supporting policy details to ascertain whether delivering on the promises is realistic. Among them, number 13 stands out: ‘Keep the US dollar as the world’s reserve currency.’ Dollar incumbency has sound foundations. The alternatives don’t look especially appetising. But even if dollar dominance diminishes at an accelerated rate, it would take more than four years to become a gallop. Point number 13 will be met for the next four years, ... (full story)

Have you watched any of the Indiana Jones movies? Besides the extensive stretching of belief there are some interesting protective structures which are triggered by the release of supporting sand contained within elaborate structures, So it is with the US dollar. The retaining plug in the sand-filled housing was removed by the current administration when they blocked access to SWIFT and 'seized' Russian assets around the world.

Recently this has angered a number of by-standers, most notably the Saudis who are threatening to dump €uro denominated securities if the status of those assets changes to 'stolen'. It appears also that the Saudis are happy to trade oil in some non-US$ currencies. Therefore the question is can the plug be replaced, and if not "how long until the sand runs out"?
Carbon-Dioxide: the gas of life!
This guy is stright out putin and Xi agent. This is so fucking obvious, America wake up, remove this parasite..Prison time..
Yada, yada yada. Article 13 of the Republican platform says: "Keep the US dollar as the world's reserve currency.

Yet, the author writes an article with the headline "Trump’s platform won’t support US dollar’s world’s reserve currency role."

So far, Trump achieved the impossible according to the General Secretary of NATO Jens Stoltenberg: Trump, by threating to let Putin run over the Europe UNLESS EU MEMBERS UP THEIR DEFENCE BUDGETS (some of them spent as little as 1% of GDP while the American tax payers foot 3.3% of GDP - oh those warmongers!), miraculously in a few months, a number of EU members significantly increased their defence budgets.

Agent of Putin and XI, a parasite? Hardly!

Faith, unsupported assumptions and a political bias are not a good guiding principles in anything, let alone in the international politics.
So, what is an alternative? Euro dollar is are blood of world economy. There is no alternative at this time
Quoting BillyIdol
This guy is stright out putin and Xi agent. This is so fucking obvious, America wake up, remove this parasite..Prison time..
Quoting ALThau
So, what is an alternative? Euro dollar is are blood of world economy. There is no alternative at this time
At the moment the €uro is not under threat. There is no reason for immediate concern unless the ECB et al decide they will not trade RMB or other BRICS currencies. However the alternative will slowly arise from the BRICS consortium although it is unlikely that there will be a new currency, rather an agreement to happily exchange each other's currencies for settling trade.
Carbon-Dioxide: the gas of life!
Quoting Exodus
{quote} At the moment the €uro is not under threat. There is no reason for immediate concern unless the ECB et al decide they will not trade RMB or other BRICS currencies. However the alternative will slowly arise from the BRICS consortium although it is unlikely that there will be a new currency, rather an agreement to happily exchange each other's currencies for settling trade.
Russia tried to trade with India using rupee. Now it’s stuck with mountain of rupees without ability to spend it, as there are limited exports from India available.
They actually having trouble to even spend their yuan. Chinese banks don’t want to deal with them.
BRICS is nothing but a glorified social club whose members most of the time have opposing interests.
Quoting ALThau
{quote} Russia tried to trade with India using rupee. Now it’s stuck with mountain of rupees without ability to spend it, as there are limited exports from India available. They actually having trouble to even spend their yuan. Chinese banks don’t want to deal with them. BRICS is nothing but a glorified social club whose members most of the time have opposing interests.
BRICS is still a nascent organisation
Carbon-Dioxide: the gas of life!
Quoting Exodus
{quote} BRICS is still a nascent organisation
To call BRICS “organization” is being delusional
Quoting ALThau
{quote} To call BRICS “organization” is being delusional
"delusion" is one of the happiest of states of mind
Carbon-Dioxide: the gas of life!
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  • Posted: Jul 13, 2024 3:30am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 10  /  Views: 4,972

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