Russia, India no longer using U.S. dollars in arms deals payments

[HttpError]

The dollar is here to stay and it is not because of America , it is because of our countries , or rather the countries that we trade with don't trust in our currency.

This is not as non systemic as some jargon here might portray , with the flip of the switch ideas.

Only way to move away from the dollar is to trade a new global currency that will be secured by the services of the globe.

"Bitcoin"

 

[Splurgenxs]

"Bitcoin"

Too decentralized, already can see countries making up military grade tools to affect bitcoin sentiment. The masses are to Anarchistic and stupid.

A smart country will only accept a currency that has minimal sentiment fluctuations as well as allow policy makers to have a good degree of autonomy to regulate. Blockchain of sorts but by states not by people.

Chinese Yuan a key focus for RBI's currency intervention

Indian rupee, Singaporean dollar and Chinese yuan are considered as three relative stable currencies for international investors.

economictimes.indiatimes.com

Yes, and it will be RMB in future.

Good luck convincing countries with you glorious Wumao smile and soft power.

Trust drives this to a large extent.
Get the UN on your side , its will be a good first step.

 

[Communism]

what if they do it in EURO ?

TBH i love it if there is world central bank and a currency for all like euro . no gov hold it like USD .

Euro was an option before they went full retard and went permanent negative nominal interest rates.

Currently, the DXY (USD to US Allies Currencies ratio) is at 96 despite this literally being the most profligate that the U.S. has ever been.

Starting next year, the Fed is going to start tapering and might even get a few rate hikes in.

USD is likely to skyrocket in the near term.

There is no political appetite in the U.S. for weakening the dollar for the near future regardless of whether it's a good idea or not.

There is a real risk that many currencies will enter relative hyperinflation versus the USD when the tapering starts.

EDIT due to getting the definition of a word wrong: One has to remember that the only reason why the Fed had to start QE is because upper income Americans are notoriously thrifty (unwilling to spend much of their money) relative to their income.

If the Fed didn't start QE, you would have seen hyperinflation in probably most currencies outside the U.S.

 

[925boy]

This is India playing the double game stabbing US & the dollar in the back.

And even Pakistanis have to accept it as a good move. lol.

 

[CrazyZ]

And even Pakistanis have to accept it as a good move. lol.

Only when Pakistan does it it gets villainized by USA press and politicians. If India does there is not a peep out of USA press or politicians.

 

[925boy]

Only when Pakistan does it it gets villainized by USA press and politicians. If India does there is not a peep out of USA press or politicians.

No lie detected. But India doing this also shows India aint scared of US for S*** either. its gonna get more fun.

 

[925boy]

Too decentralized, already can see countries making up military grade tools to affect bitcoin sentiment. The masses are to Anarchistic and stupid.

Says a guy from a slow big giant that is currently trying to block crypto adoption, which would obv help the country. Sorry, just had to do that to you man. you sound like you're in year 2005.

 

[HttpError]

Too decentralized, already can see countries making up military grade tools to affect bitcoin sentiment. The masses are to Anarchistic and stupid.

A smart country will only accept a currency that has minimal sentiment fluctuations as well as allow policy makers to have a good degree of autonomy to regulate. Blockchain of sorts but by states not by people.


Good luck convincing countries with you glorious Wumao smile and soft power.

Trust drives this to a large extent.
Get the UN on your side , its will be a good first step.

That is the very objective of it that no human can try to use it or modify( print as much as they want). Just like internet it will become mainstream perhaps in this form or in form of Stable Coins.

 

[zzzz]

Euro was an option before they went full retard and went permanent negative nominal interest rates.

Currently, the DXY (USD to US Allies Currencies ratio) is at 96 despite this literally being the most profligate that the U.S. has ever been.

Starting next year, the Fed is going to start tapering and might even get a few rate hikes in.

USD is likely to skyrocket in the near term.

There is no political appetite in the U.S. for weakening the dollar for the near future regardless of whether it's a good idea or not.

There is a real risk that many currencies will enter relative hyperinflation versus the USD when the tapering starts.

EDIT due to getting the definition of a word wrong: One has to remember that the only reason why the Fed had to start QE is because upper income Americans are notoriously thrifty (unwilling to spend much of their money) relative to their income.

If the Fed didn't start QE, you would have seen hyperinflation in probably most currencies outside the U.S.

You just described how average sheeple think and so is the reason why USD is rising now.

You got a gaslighting propaganda narrative - OMG The Fed is going to rise rates soon - so the sheeple with primitive thinking process and zero understanding of economics reacts accordingly. And everyone else following the sheeple for now.

But what is going in real economy? US just printed dozen trillions of dollar paper. US trade deficit is record high. USD inflation is record high (that means real value of USD dropping at record pace, while US Treasures real rates (UST yield-inflation) decreasing to record low negative territory. Share of international trade in USD is record low and dropping at accelerating pace.

So what will happen when the tapering starts and rates are rised? The only narrative that drives USD higher will disappear. US stock market, that is the only hedge now against USD inflation, will drop. Negative real rates of UST would offer much less support against higher risk assets in foreign currencies than it was in pre-covid times(when inflation in US was around 2% and Fed rate 2,5%). The result will be the falling of US Dollar like a rock. Classical situation of selling the news.

BTW if you didnt get that, US is the one who is driving up inflation in all the world with its QE by printing USD and inflating global prices of commodities and all other goods.

 

[Communism]

I'm tired of spoonfeeding basic economics to people.

Check back in 6 months so you can see how utterly wrong most of you are.

Go bet that crude oil prices go above 240 Dollars a barrel, because that's what it will take for inflation to be higher next year than it was this year.

If you aren't willing to take that bet on the futures market, then you are simply lying to yourself.

 

[American Pakistani]

American dollar is fast losing value and attractiveness because united states is telling its citizen to sit home while feds print and distribute money to lazy people.

 

[Stranagor]

American dollar is fast losing value and attractiveness because united states is telling its citizen to sit home while feds print and distribute money to lazy people.

I think excessive and reckless use of sanctions (which usually hurt civilians in majority Muslim countries, oddly enough) has undermined trust and forced countries alternative modes of transaction).