China plans to dethrone the dollar

[@CaspianReport]

Go to ground.news/caspian to browse for free or subscribe for unlimited access through my link before June 1 for just $5 a month

[@Zeyede_Seyum]

Again?

[@rexcolt9742]

???

[@steephanroy8461]

Not everyone is well versed in the economic terms which u used in the vedio.. I personally found it very difficult to understand this vedio. assuming that the rest of your audience is on my level.., it would be appreciated if u could break down these economic terms to their basic processes which we could understand.. Talk to your audience realising to that u r talking with an average joe rather than an economist

[@oderaigwebuike8006]

@caspianreport huge fan, but why this long to do this video, we were waiting, PLEASE DO A VIDEO ON NIGERIA, BIAFRA AND OTHER PROBLEMS ARE ABOUT TO IMPLODE ON THE COUNTRY, A DRUG LORD IS ABOUT TO TAKE POWER. ITS GOING TO BE ANOTHER SUDAN, YOU MUST DO A VIDEO, LITERALLY A LEAVING PRESIDENT BORROWED (STOLE) OVER 1.7B USD IN LESS THAN 3 WEEKS TO HIS DEPARTURE YOU MUST DO A VIDEO, YOU MUST.

[@alainblackmann9564]

@@steephanroy8461 Sounds like a 'you' problem.

[@rodolphendessabeka8721]

"The real wealth of nations is their industrial capacity." Thank you Caspian Report for this statement.

[@thewingedhussar4188]

That is the irony, the super wealthy have seemed to forgot this for quite a while until it finally bit them in the ass.

[@eduwino151]

@Tulak Hord alot of these jokers forget China literally relies on the west and western allied countries for tech to manufacture stuff

[@Mynipplesmychoice]

Only it’s not because we’re In a information/computer science driven society right now. This isn’t the 1940s . That statement is wrong.

[@michaelrenper796]

@@thewingedhussar4188 Who are those suprt wealthy who have forgotten this? The UK? Singapore? The US, the EU Japan, Korea, Taiwan have large industrial capacity. It is a lesson poor countries generally forget, slaughtering their industry through corruption. Look at Brazil, South Africa, Paskistan. Countries which have underdeveloped industries compared to the opportunity given to them by history.

[@LaowaiDaveJCP]

​@@eduwino151 ok serious dude name 5 tech where China relies on the west

[@user-op8fg3ny3j]

1:21 "Don't depend too much on anyone in this world because even your own shadow leaves you when you are in darkness.” - *Ibn Taymiyyah*

[@rohankishibe8259]

Knew this quote was familiar but couldn't remember, thank you!

[@kevinyoung9557]

Truth

[@kevincrady2831]

Love that quote.

[@dpt6849]

Strong quote. Reminds me of the western saying: when you are succesfull/have money, you have friends. In time of trouble you'll find out who your real friends are.

[@remimk]

What a line

[@brp361]

Unless a country is willing to run such a large trade deficit it to facilitate being the world's reserve and has a free floating fully-convertible currency capable of absorbing the massive flow, there is no alternative. The closest alternatives are the Euro, followed by the Yen. In that order. Both are strong American allies too.

[@borntobemild-]

Thanks for bringing up actual economics. No one here seems to care that no currency is as liquid as the American dollar. Everyone Trusts it. Heck, Im pretty sure I could buy some space ice cream at the international space station with it.

[@rohankishibe8259]

Whatever makes you sleep at night, no empire lasted forever and you ain't special.

[@borntobemild-]

@@rohankishibe8259 I dunno. My mom thinks I special. I'm Canadian too, so if anything I would argue for my currency. But, I'm not dumb.

[@michaelrenper796]

​@@rohankishibe8259 Indeed, The Russian Empire will fall soon and the Chinese Empire will follow in 50 years.

[@YUDNSAY]

@@borntobemild- I can think of a few places that the dollar is unspendable. Its 'liquidity' will undo it.

[@chinguunerdenebadrakh7022]

The dominating strength of the USD in global trade doesn't come for free. Till China is willing to accept that cost, Renminbi will never surpass the USD. And China is not gonna lift capital controls or allow trade deficits to allow it to become a reserve currency.

[@Mynipplesmychoice]

Yeah it’s not happening. If the dollar was to go down it would be a crypto currency type of deal not backed by any country but authoritarian governments aren’t afraid of. Right now thst currency doesn’t exist.

[@widodoakrom3938]

Wrong china has BRI projects china manufacture and infrastructure capabilities bigger than USA

[@lalit5408]

It's not trying to. It's trying do alternate settlements for it's trade. Doesn't matter what rest of the world use for their own settlement.

[@kth6736]

A country can apply capital controls for its citizens and allow free movement for foreign entities. CbDC facilitates this.

[@wendyshoowaiching4161]

China can follow and do better.

[@the0ne809]

China cannot and will not do that. They won't risk to lose its export advantage any time soon. That's why they deappreciate its currency.

[@widodoakrom3938]

Yuan will just become another currency beside USD the real money will always precious metal like gold and silver

[@the0ne809]

​@@widodoakrom3938one, there's no enough gold to back the trillions of dollars in the world's economy and two, gold prices are also made by humans, just like the dollar. There's nothing special behind it.

[@widodoakrom3938]

@@the0ne809 first the precious metal not only gold second we can mine precious metal in the asteroid

[@the0ne809]

@@widodoakrom3938 at minimum, we are many decades away from out space mining in large quantities, just to let you know. I remember some rich dude who said he would send people to Mars by 2024. How is that working out?

[@MegaCooliam]

Cooooope

[@golagiswatchingyou2966]

"even your shadow will abandon you in the dark" god that's such a good line, I love it!

[@JustAnotherAccount8]

its one of those quotes that sounds smart... until you think about it

[@golagiswatchingyou2966]

@@JustAnotherAccount8 yeah there are no shadows in the dark but it sounds cool.

[@phoenix5054]

​@@JustAnotherAccount8 Well, I did, and I think the "shadows" refer to the other members of the "West". You know, the ones who follows the US wherever it goes.

[@elosant2061]

@@golagiswatchingyou2966 thats the point lol, you no longer have a shadow in the absence of light.

[@onepartyroule]

@@elosant2061 A shadow is an effect not a thing; it is your own body blocking the rays of the sun. In no sense does it “abandon” you any more than your own body can abandon you. The saying is suggesting you can’t rely on anyone, which is pretty cynical. But the phenomena itself as a metaphor would seem to imply something like “when you don’t allow yourself to be in the “light” (make of that what you will) you don’t even have a shadow as a friend”. Which is a different sentiment to “you can’t rely on anyone”.

[@pradeepmagan6951]

Can’t see that happening unless the Yuan is traded freely

[@RealJohnnyHash]

WW3 will pop off before the yuan pops the US Dollar bubble.

[@Life-Is-A-Meme-t5h]

@Akash Yadav speaking of gold coins and gold in general. The irony of that is top reserve of gold are stored in NY which I have been hearing from people that it’s traded in USD. So it’s technically going full circle.

[@TheRezro]

@@Life-Is-A-Meme-t5h There is literally not enough gold to support international trade. It is why gold standard end in 19'th century. Furthermore you always could trade with resources or other currencies. Nothing new.

[@TheRezro]

@Akash Yadav "Trading in gold coins with value set by international community is much more reliable" Only if in Communism would size control over entire planet and rid of black market. Not happen. Gold circle already break in 18th century. As people would rather use more available silver at this point.

[@mauriciosolano9342]

If there isn't enough of gold, then we'll have an interesting change in pricing for Gold

[@monkeeseemonkeedoo3745]

'The real wealth of nations is their production capacity" spoken like a civ 6 player lol

[@alainblackmann9564]

It's Adam Smith, actually.

[@monkeeseemonkeedoo3745]

@@alainblackmann9564 OG civ 6 player

[@JustinHusted]

Mansa Musa would beg to differ, don't forget the Golden Rule.

[@HughJass-313]

*Civilization* game genre, no doubt?

[@HVLLOW99]

@@JustinHusted 😂 Devalue’s gold by having too much gold and single handedly crashing the Mamluk Sultanate’s Cairo market spending gold like its petty cash what a fcn BOSS! BASED CHAD MUSA

[@nonyabiz6036]

I think it's not much of a dedollarization but more of a diversification as more countries currency's are maturing and want to diversify their monetary holdings instead of putting all eggs in one basket

[@TheRezro]

That literally always was a thing. China just scam feeble minded nations of Africa, South America and Asia.

[@XDF745]

To have diversification you must also have some degree of dedollarisation.

[@cabellones]

@@XDF745 yeah, but the core is not a substitution, but diversification. the idea is not to kill the dollar, but castrate the dollar.

[@christopherscott1336]

​@@XDF745 Yeah, but also countries have had diverse currency reserves even from the beginning of dollar dominance after ww2. This does not necessarily indicate that dollar is losing global influence.

[@brindlekintales]

@@alandashcar1453 That is not how KZbin comments work.

[@vsmoraes0]

“We won't have to talk about sanctions in five years because there will be so many countries transacting in currencies other than the Dollar that we won't have the ability to sanction them”. US Republican Senator Mark Rubio, on Fox News, March 30, 2023, referring to Brazil and China signing a deal to enable mutual trade and investment directly through their local currencies, casting aside the United States dollar as an intermediary. Brazil has made a similar arrangement with Argentina as well. Casting aside the dollar isn't just superpowers fighting for supremacy, it is a mandatory step for nations in the global south to have true sovereignty and full autonomy over their decisions.

[@TheRezro]

You mean Trumpist slaves of Russia? If anything cause death of dolar it would be them.

[@Sujay95]

True. I hope the 22 African countries plagued by French neocolonialism also find the political will and resources get rid of their dependence on French franc and become truly independent.

[@Sparticulous]

If it works, usa did it to itself with the sanctions against russia

[@TheRezro]

Yes. It is why everyone still use Dolar, outside Russia wannabees complaining about it?

[@Sparticulous]

@@TheRezro you arnt aware that some people argued against freezing dollar assets as it could spook even frenemy nations like saudi arabia. Has nothing to do with russia wannabes. It just empowers china

[@ziqi92]

The US isn’t doing itself any favors by politicking over their debt ceiling crisis. It makes other economies abroad nervous, not just at home.

[@matthewmitchell68]

It’s nothing like a big realization that dollars have no value. Without major cuts the national debt will be at 45 trillion by 2030, and 65 trillion by 2040. These are actually conservative numbers.

[@justcallmeSheriff]

But America’s far-right don’t care about geopolitics in a meaningful way, and would prefer default to the appearance of “globalism” inherent in our debtor status. There’s always been a current of isolationism and nativism in America that was at odds with the imperial project of the last century. And MAGA has absorbed that ideology in the worst ways.

[@siggiAg86]

I think the US is slowly destroying itself by spending more than they make. It only works when the USD is the world currency and every body wants to loan them money. When the USD won’t be number one then it will be a huge problem for them if they continue to spend too much.

[@BloodyClay]

Nah

[@lloyd9500]

Can you provide any evidence of the impact of said nervousness? Even an almighty battleship gets caught up in rough seas once in a while, but it's nothing it can't handle.

[@kgnsc]

Distinction between wealth and treasury dates back to Adam Smith and his The Wealth of Nations (1776). It is a seminal work in economics. I am sure USA has been aware of what they have been trading off by shifting production of certain products (not all, especially not the strategic ones) to China. I don't think there is any "overlook" involved. They (USA) have benefited from it greatly, in various ways. It is just that China has reached that inevitable point of wanting to have a say in world economics that reflects their weight in it.

[@TheRezro]

And all that when they economy leak to Vietnam, as world partners stop trusting them. Never ending circle.

[@АлександрСливченко-ъ7и]

China will be new world leader. Chinese have the highest standard of living

[@filipetome6738]

Interesting to note that while China captured a lot of consumer electronics supply chains, design and production of advanced microchips and machinery needed for that remains firmly inside countries aligned with the US

[@AbacusincInfo]

I think it has been an ignorant and irresponsible government which is corrupt that has conducted themselves in such a manner.

[@AbacusincInfo]

China is in a huge debt.

[@blafonovision4342]

The US Dollar as the world reserve currency is the effect, not the cause, of US economic power. As the USA withdraws from the world, economically and militarily, the dollar will naturally be used less as a reserve currency.

[@bloodfiredrake7259]

It is both

[@guyman1570]

​@@bloodfiredrake7259 Not really. USA isn't a cabal of shadowy politicians scheming to rule the world like CCP. 😂

[@CraigTheBrute-pf8zh]

Indeed

[@527ctguy]

I agree. People think that the US is strong economically due to the dollar - that is not the case. Unlike many countries in the world, US has a lot going for it - food independence, energy independence, a common language shared by most of the world, endless supply of intelligent immigrants, a system that rewards entrepreneurs, a stable political system, and on and on. If the dollar is nto the reserve currency, so be it - then what will happen is that the US will produce more at home and trade more with our local neighbors - maybe we don't have to spend so much on military then to police the world. The US can survive almost on its own unlike many countries. China is dependent on the world for energy and food. That's not the case in the US.

[@seantrevathan3041]

Paul Anderson and let's not forgot probably the biggest factor in that last bit you mention: The US Navy is effectively the gaurantor of global maritime security. And there is no bigger beneficiary of that than China.

[@seankuhn6633]

Imagine India and the ccp getting along.

[@pondeify]

this is the advantage the west has over the east, they understand how to form shifting alliances. he east is plagued with inter and intra country conflict because they have yet to abandon religion.

[@anixes]

@@pondeify China is atheist.

[@sushant3196]

That will never happen as Chinese are manipulative. They lack commitment, additionally, India is closer to the US now than it has ever been so even if India is a part of Brics, that'll never happen. Most importantly, India secretly supports democracies, not dictatorships or authoritarian governments.

[@tomasarfert]

They won’t. China would try to fuck India over.

[@widodoakrom3938]

U means china? As long as china didn't served Pakistan interest it will be fine

[@hamzamahmood9565]

Most traded currencies in the world: 1) US dollar (USD) 44.15% 2) Euro (EUR) 16.14% 3) Japanese yen (JPY) 8.4% 4) Pound sterling (GBP) 6.4% 5) Australian dollar (AUD) 3.38% 6) Canadian dollar (CAD) 2.52% 7) Swiss franc (CHF) 2.48% 8: Chinese renminbi (CNH) 2.16% 9) Hong Kong dollar (HKD) 1.77% 10) New Zealand dollar (NZD) 1.04% Bold of a country with 2% currency exchange to overthrow all 8 above.

[@OccultDemonCassette]

We'll definitely see a new currency similar to the EURO formed as more countries continue to join BRICS. No single country's currencies would be replacing it.

[@HungaryBased]

Do you know how fast things can change in just 10 years lmao?

[@no_more_spamplease5121]

​@@OccultDemonCassette I don't think so. There is no serious movement to add other countries as partners of the BRICS bank, let alone to plan a new currency. The BRICS bank is just a small development bank, that funds infrastructure projects. It does not have monetary policy powers at all. Frankly, bilateral trade among BRICS countries is far greater than any BRICS multilateral convergence. The multilateral relations are fragile in concrete terms and overrated by the media - it's more about manufacturing of moral panic than about having some basis in reality.

[@bloat1235]

@@HungaryBased Yes but there is no way BRICS form a common currency within ten years that doesn't lead to disastrous consequences for at least some involved.

[@Feinei]

@@bloat1235 I have no idea how India, which has been fighting border disputes with China for a while now, will ever agree to using a currency spearheaded and mostly controlled by them, seeing as China is the overwhelming majority of economic power within the BRICS. I'm also having a hard time seeing Russia agreeing to anything not spearheaded by themselves, seeing as they would not want to play second fiddle to anyone else and have their own ambitions and aspirations.

[@wuciwucci4374]

From historical viewpoint, one of the hallmarks of superpower is the fact that superpower's currency become the world reserve currency where it is used extensively as the storehold of wealth by the world. For instance, the Dutch Guilder when Netherlands was superpower in 1600s, then the Pound sterling in 1800s when UK was superpower and currently the US dollars. This is a result of natural cause-effect relationship following the increase in trade and exchanges with the superpower due to its growing economic strength, and eventually the convenience everyone gets by transacting and storing wealth in the superpower's currency. For the superpower, the reserve currency status endowed the country with huge advantages, that is, in the form of low borrowing cost. The central bank of the reserve currency could create credit, usually government bonds, with low interest rate as compared to other currencies' central bank as people feel it is safer to have asset denominated in the reserve currency, thus naturally inducing higher demand even with such low interest. However, this advantages will not stay forever as the country tend to push to the extreme by borrowing more and more, because it it cheaper compared to the other country's currency and there is always a need to maintain collosal empire such as military bases around the world, growing citizen's social benefits, repairing aging infrastructure, funding ongoing war, boosting local economy, etc. resulting in substantial debt growth. Such astronomical debt may burst once people realise the central bank is printing money to pay debt a.k.a monetising debt extensively which although on paper it is settled, the resulting printing action cause decline in currency value itself, undermining the credibility of the currency as a storehold of wealth. As such, bubble burst. For instance, the collapse of Bank of Amsterdam in 1780s, being replaced by the Pounds and the devaluation of Pounds in 1960s, being replaced by the US dollars. Usually, this happens along with the collapse of the superpower, being replaced by the new rising superpower, and the historical cycle of the rise and fall of superpower (and consequentially its reserve currency status) repeats itself.

[@ahmedistiak]

Nice analysis

[@Arya_amsha]

​@@ahmedistiak principles of dealing with changing world order by ray dalio

[@czarnick123]

Can you recommend resources for reading or learning more about this historical angle?

[@lordofthepies]

I would argue that excessive printing only becomes a problem if a superpower is on the way out. Usually countries stick with whoever has the current reserve currency because it's at least in some way beneficial to them as well Or are forced to due to military measures. In either case that would imply the reserve country still has geopolitical weight to throw around

[@sterlingd1984]

​@@lordofthepiesand that's exactly it; the elephant in the room that nobody really wants to address. This "de-dollarization" or "currency diversification" or what have you is the unspoken bet from other nations that the US might just be on its way out as a superpower. Yes, many are still fairly sure of the US' strength, while others are fence sitting so to speak. However it would be a foolish decision to believe that the US is still just as strong as it once was, or to believe it embodies strength and stability at this point in the nations life time.

[@Jake-sg1xr]

That was the correct way to do a sponsor

[@pranjalsisodia5003]

7:44 The real wealth of nations is their productive capacity.

[@baronvonlimbourgh1716]

👍 that's what wealth is.

[@currawong60911368]

Productive capacity is a VERY broad term...

[@Mynipplesmychoice]

Only it’s not because we’re In a information/computer science driven society right now. This isn’t the 1940s . That statement is wrong

[@alainblackmann9564]

@@Mynipplesmychoice That stuff only matters insofar as it can assist tangible production.

[@honkler5974]

@@alainblackmann9564 information > productive capacity. I would take being the first country to make an anti-gravity engine over being the first to pump out dozens of aircraft carriers. Innovation is the real name of the game

[@Axis.]

Yuan will never become standard currency, China in a way doesn’t want that, because it loses controls over their rich people since it’s hard for the rich people in China to convert yuan to dollars, since the spending power of the yuan is centralized in China only for now

[@TheRezro]

End of dolar is rhetoric scam to gain support of those who excluded themselves from world economy already. Meanwhile China still trade with dolar and laugh from suckers.

[@rogue_hk]

in comes digital Yuan and authoritarian measures

[@khai96x]

It's not about the Yuan. The word "dedollarization" doesn't contain "Yuan". It's about dedollarizing.

[@tmada8270]

​@@khai96x something feasible must replace the dollar then

[@khai96x]

@@tmada8270 Central banks around the world are purchasing a fck tons of gold. Even some US states elevated gold to legal tender.

[@justin_lee_]

The USA has frozen Russian assets, it hasn't siezed them. This equates to a currency control, which China employs liberally. Also, the holdings of USD in the chart around 9:50 is an incorrect and misleading method of creating a visual representation of the decline of USD holdings. The percentages of USD holdings has declined by ~10% but your chart suggests it's dropped from 75% down to 5%.

[@moors710]

The average American is paying for hegemony with out military spending and loss of jobs in the country. The distribution of income is rather malformed and as industrialization took hold the average Am has seen the standard of living drop for the last 50 years with the money going to big banks multinationals and the military industrial complex. The USA will do fine, but the falling trade and subsequent world wide inflation as more and more shipping becomes unsafe mean a real fall in the standards of living for the rest of the world. I am tired of financing the global order and paying with decreasing standard of living. Let the global order collapse.

[@Emanon...]

It makes sense that larger nations would seek to de-entangle themselves from the Dollar. But it won't be a single currency as there is no viable, stable alternative. The US would try to avoid this at all costs, at this means the free money show the last 80 years would come at an end with the massive US debt accrued suddenly becoming a millstone around the US economy.

[@evilleader1991]

This is an important step towards equality, its unfair how US basically has a free money printing cheat code.

[@baronvonlimbourgh1716]

The decarbinisation of energy isn't helping either especially as it accelerates further. Which has been the biggest dollar recycling system in the past.

[@TheRezro]

How US would avoid that if Dolar trade is free?

[@firasajoury7813]

@@baronvonlimbourgh1716bro while the petrodollar influence is slowly eroding I still think that renewable energy on large industrial scale isn’t that cost effective and easy

[@baronvonlimbourgh1716]

@@firasajoury7813 it is already by far the cheapest form of energy generation, and will keep dropping further and further going forward. It is based on technology instead of resources, it can only keep going down. Production capacity has been doubling about every year and a half to 2 years for nearly 2 decades. That will also keep going for the forseeable future. The same thing is happening to energy storage capacity. The only thing holding us back is the fact that production capacity can barely keep up with exponentially growing demand, demand that will only grow faster as prices drop further. Things are about to extremely rapidly shift from fossil to renewable globally. Adoption happens in an s-curve fashion and we will reach the vertical part of that curve within the next 5 years. So within a decade 80% or more of global energy consumption will come from renewables.

[@spoddie]

Not even China wants Yuan.

[@borntobemild-]

It's even still got chairman Mao's face still on it! That's hilarious on its own.

[@MJWPub]

The truth!

[@piedrablanca1942]

silly gringo

[@deeliriyum]

@@piedrablanca1942 let them cope

[@widodoakrom3938]

Source: trust me bro

[@geezjunior]

Love getting caspianreport notifications even if it’s 1 AM on a Sunday on the west coast

[@Tormentality]

westwest yo

[@N7-WAR-HOUND]

Central Dawg

[@Salbren_boi]

4am L

[@jantjarks7946]

Central dude. Central Europe. 🤺😁😉

[@josafatsantiago1512]

2 am now, watching while doing hw 😂

[@LeoMajor1]

I use to love your little quotebits but when I hear "even your shadow will abandon you in the dark" I just rolled my eyes... lmao

[@KaterinaDeAnnika]

If the US were in the shoes of any other nation, if we were beholden to china’s control and ability to seize and redistribute our assets the way we do others, our people would not accept that. But yet many American balk when others don’t want our ‘benevolent hand’ controlling their economies so much. It’s smart to diversify, plain and simple

[@imh9278]

"Even your shadow abandons you in the dark" that hit hard😂

[@dagda101]

"Even your shadow will abandon you when in the dark" i love the writing on this channel and how you manage to bring creativity to a dry subject.

[@madaranotsoanonymousnowuch1539]

Its actually aa quote by Ibn Tamiyyah but the writing really is good here.

[@gadaadhoon]

Dry? Really? These videos seem almost frightening to me.

[@00x0xx]

People have been talking about the rise of China since 3 decades ago. Things just progress slowly, although this war did escalate chinas dominance

[@vinayak4839]

When usa discovered infinite money glitch😂

[@filipetome6738]

Finance is a juggling act. The US discovered and exploited global patterns to dominate the global economy. The UK had to fight a war to impose Opium trade on China when it ran out of silver to keep the tea and silk flowing. The US can just print dollars. Nothing short of brilliant.

[@paulwyns3502]

Now that was a balanced report without propaganda. Well done.

[@lloyd9500]

There is not such thing as an unbiased report. And while Caspian Report leans mostly into a US-centric view of geopolitics, on the occasion they will present information to the contrary. Does that mean it's still without propaganda? Not necessarily, and in this case certainly not. We need to be careful when saying something is "balanced" when truthfully it's a sensationlization of reality that buys into China's victim mentality

[@joem0088]

The dollar and the whole Western fiat currency bunch suffers from boom/bust credit cycles, allows the power to operate pump and dump to acquire assets cheaply. This makes for continual series of financial crisis around is intolerable and must be changed.

[@hk_brit_fisher]

Those who got the yuan will come to hong kong and exchange for dollar.

[@Kevin-cm5kc]

There's a lot of comments here missing the point. In the same way people *always* miss the point on this topic: shirvan isnt saying that the dollar will disappear and abruptly be replaced by the yuan as a new sole global currency. He's saying that america merely having a LESS dominant position will hamper their exorbitant privelege and have a lot of cascading effects on their economy and overall power

[@TheRezro]

Most people who complain about that are supporters of war crimes.

[@ahmadsobri9614]

Some people have low comprehension skill even when it is written in their own language. People in the US is the most propagandized population in the world, more than any authoritarian state including China. They believe in anything that portrays them(government and people) in a positive light.

[@Robespierre-lI]

Yes. Everyone should read this comment. Although I wouldn't necessarily call it an "exorbitant privilege.". It's an advantage, but as the past twenty years show, it doesn't amount to all THAT much advantage. It's not much fun being a superpower because you end up spending so many resources on dealing with all the negative attention the world gives you. Better to be Bhutan or Switzerland.

[@deadrose007]

Thanks Henry Kissinger and friends.

[@human1880]

Monetary competition might be good, where the US can not fuck over other economies. But that ain't gonna happen is it.

[@7pan7pan93]

Did they remove the other vid?

[@ankitsagar2205]

yeah

[@js70371]

Yes because Shirvan hates the truth and is trying to block my comment: Congratulations to the brave and valiant fighters of the Wagner PMC and Russian Federation Defense Forces in their annihilation and complete destruction of the Ukrainian Nazi Terrorist hordes in Bakhmut. *SLAVA ROSSIYA* from *CANADA* !! 🤍💙❤️🇷🇺#Z🇷🇺🤍💙❤️ 🙏🇨🇦🍻

[@ReidCoffman1]

The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits.

[@AshtonGrace]

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[@MariusNatt]

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[@Rachelschneider03]

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[@MariusNatt]

@@Rachelschneider03 Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors like "Maria Teresa Tyler", who can help shape up your portfolio.

[@liamanderson3045]

Stocks are priced in USD.. you work that one out. The only hedge against inflation is gold and silver.

[@rogue_hk]

This is one of the best videos in terms of simplicity and value of the insights coming from your channel, great job

[@sfkeepay]

It’s ironic and terrible that despite all the horrors we’ve unleashed on the world, we maintained our dollar hegemony. But something we did for largely just and laudable reasons - sanctioning Russia for invading Ukraine, has been a tipping point leading to this economic shift. Also, your observation about manufacturing capacity is clearly on point. It’s really noteworthy when you consider that naked, unrestrained greed (looking for people willing to work for far less money) is the driving force behind our diminishment. Another legacy of our 40-year orgy of neoliberalism.

[@thomask5038]

The existence of "other powers" and "other currencies" is not tantamount to a "multipolar" system when the preponderance of power and currency is concentrated in one, sole, super power. The reason the USD is the standard for all trade is stability. Businesses operating on thin margins are going to take on additional risk in potentially running a deficit by trading in volatile currencies. When you've already shelled out x amount in operating expenses, you're accounting for y in operating income. You're not going to gamble that on crypto currency equivalents.

[@CStone-xn4oy]

The USA: Our debt only makes us stronger. (I am only half kidding).

[@justincopier3190]

I love how professionally your videos are done. I would love to see an inside view of how you create your content

[@toddjones2084]

CR has earned much respect for its objective and insightful presentation for a long time. Lately, however, bias makes one wonder if a special interest is funding and the channel.

[@richhands5269]

My three favorite channels: CaspianReport, StockBrotha, & How Money Works. Make my week complete!

[@raybarry4307]

This is one of those videos I'm probably going to have to watch about 39 times to fully grasp

[@MrAudrius77]

China's plans will remain only plans. The reality is cruel - China is completely dependent on Western investments and technologies. Wanting does not mean being able.

[@DreamyCheshire-up9rf]

Same with the western investments and technologies - a very big market like China. USA with its MAGA policies, no longer profitable as in the past.

[@mvajuru7620]

I just want to take a moment to highlight and appreciate the superb writing we consistently get from this channel. "Even your shadow will abandon you in the dark", I mean wow, every episode I think surely he's gonna run out of these lines, but CR never disappoints.

[@chrisdziedzic2544]

It would be better if CR had credited Ibn Taymiyyah with authorship of that line.

[@porschestable8252]

Not his line

[@mvajuru7620]

@@porschestable8252 No idea's original

[@wp12mv]

The RMB won't dethrone the dollar, the Chinese don't even want to use the RMB. The CCP wants to maintain full control over their currency which is impossible when it's the main trade currency in your region. Way too many capital flows

[@widodoakrom3938]

Source: trust me bro

[@manishgrg639]

@@widodoakrom3938 Source : CIA BOT

[@Leptospirosi]

Well explained: this is also why, the Americans are pushing Europe to increase military spending, and why Europe, not enjoying the dollarization advantage, are reluctant to invest

[@scottdoesntmatter4409]

No, the USA simply wants Europe to be able to defend itself against China, Russia, and Islam.

[@stephenlight647]

The US is trying to get Europe to spend more on defense so that the US does not have to! It’s not more complicated than that. The issue is going to grow as Americans realize that most European countries care less about their independence than the US does! As a US citizen I believe we should leave NATO. Europe is a rich continent able to defend themselves, IF THEY WANT TO.

[@Leptospirosi]

@@stephenlight647 you should listen to the video on e more then

[@00x0xx]

European nations are fully aware that they have no real major world power that is a threat to their existence, hence their low military spending. Also keep in mind EU and allied Europe nations military spending combined is rather large and is more than enough for their current needs. They don’t need to spend more unless they are planning on invading Russia.

[@catadoxas]

@@stephenlight647 being a vassal to the US is not independence

[@hhydar883]

I think US has an edge in every field you can imagine. Lets not forget the current financial system is based on US system. All world organizations including WTO are under US influence and best part about this is that US has allies and military might in every part of the world. China don't have any of that and no matter what, US wil stay crowned as superpower either by force or willingness.

[@lisakeitel3957]

Good work.

[@dirty_arkady]

I think many people interpret what is happening the wrong way. China or Russia do not need to shift the dollar. It is enough to simply lower its share in international settlements. And if we add to this a huge US budget deficit, then this will be enough to shake up the US economy due to constantly high inflation. It will take a long time, but the process is already irreversible.

[@gbonifant]

Excellent work as always. A very complicated subject to understand but you explain it with eloquence and a methodology that can be easily understood.

[@joem0088]

The video says that there is no theoretical limit to this (the dollars) circular flow. Sorry but there is. Trifiin's dilemma says a reserve currency must supply ever more currency aboard in the form of debt and debt level will eventually arrive at crisis stage as it appears to be doing now. US govt debt is over 32T. Treasury auctions are short of bids and the Prime Brokers had to soak up the unwanted Treasuries which cannot last long since these brokers do not the deep pockets of Soverigns. China has not been bidding and is letting it exisiting pile mature down. There is also a lot of talk of BRICS starting a gold-backed EXIM currency. The dollar is already replaced by Chinese RMB trade in oil with Saudi, UAE, and Russia. China and Russia's bilateral trade of 200B$ value is happening largely in Rubles and RMB which is a good thing as that ensures a large but balanced trade. International political economy is in tredmendous flux and the dollar is in endangered.

[@CautionCU]

If the conclusion of dedollarization is a gold standard then it begs the question what is stopping anyone from trading in gold now. The answer is nothing, so ultimately this is much ado about nothing. Brazil is atrociously managed, neither China or Russia have open currencies. If you wanted to argue a move to the euro or something that might have some rationality but the reality is that the dollar is here to stay for a while longer at least.

[@EythanRodriguez-mv8qg]

can we talk about how in every intro this guy writes the coldest lines “Even your shadow will abandon you in the dark”

[@NuMaaaaaa1]

World reserve currencies are USD- 58% Euro -21% China has 3% It's never gone de-throne USA when it can't even beat Euro.

[@widodoakrom3938]

Yuan will become another alternative the real money always precious metal

[@aleaiactaest8354]

Excellent report and overview!

[@david__026]

Even your shadow will abandon you when in dark 🤯✨

[@ProfessionalBirdWatcher]

I can buy anything from anywhere in the world using the local currency of where the thing is from. A "universal" currency is obsolete

[@monacophotographyevents2384]

What does that even mean. Are you saying that any country that one is in, one can use the local currency? That much is pretty obvious.

[@crocrox2273]

I'm excited about Caspian as I was once for morning cartoons

[@100c0c]

Having the reserve currency means your exports are more expensive and you must have a trade deficit (Triffin dilemma), so China will never make RMB the reserve currency.

[@baronvonlimbourgh1716]

You also get to export inflation, which is a very powerful tool that gives you a massive advantage economicaly.

[@widodoakrom3938]

They don't have to

[@100c0c]

@@baronvonlimbourgh1716 True, but China wants to maintain productive capacity.

[@baronvonlimbourgh1716]

@@100c0c it depends how you want the currency to be recycled. The usa chose to have money sent back into the financial sector eventually and export production. But after the war the usa faced a massive production capacity surplus because it was producing to export during the war and after it the whole world was in ruins so no country had any money, production had to be scaled back massivly, loads of people where about to be fired and the country was going to fall back into the great depression while all the men where on their way home from fighting the war. The solution to this problem was the marshall plan. They sent mountains of cash to the whole of europe and japan with only a single condition attached. Spend it on USA imports. That way they had a sink for all the excess production capacity by simply keep sending it abroad like during the war. That caused the massive economic boom during the 50s and 60s and set the usa up to become the economic powerhouse of the world and enabled their companies to become huge multinationals and dominate the world since all that money basicly had to be spent with them. The EU is copying that exact scheme as now as well. It send economic development money to eastern countries and they spend that money with western european giants to have their infrastructure, mega projects, automation and it systems built. Now china is that production powerhouse the usa used to be and there is no reason they can't do the same. They seem to be copying this exect formula trough their string of pearls and road and belt infrastructure projects troughout the region. Help developing their economies so you can keep selling more and more expensive stuff in the future and in turn have your companies grow exponentially and make them able to poor fortunes into r&d to become world leaders that dominate the world.

[@manitoublack]

Since the RMB is pegged to the $$. there's no risk in trading in RMB as you can easily swap it for $$. Also, since the RMB is artificially under valued, holding a chunk of RMB in case if flats could be a great way to 'play the market' ;)

[@drowsy-fx8pc]

All of the needlessly enraged commenters need to take a deep breath and rewatch the last five minutes of this video most pf your concerns were adressed and explained. If you still disagree then timestamp were and explain why.

[@engineersze2546]

Excellent report, easy to understand in simple language.Good job, keep it up.

[@jeffs4483]

Empires always overstretch themselves which is what the USA is currently doing. Weaponizing the dollar for political purposes was a huge mistake, now other nations are afraid and forced to protect themselves from such a scenario through diversification.

[@MacTac141]

20 years ago people were saying the same thing and in 20 years they’ll still be saying it Truth is there’s no other currency in the world that meets all the criteria needed to be the global reserve. China and other nations will continue to make small headline grabbing deals in Yuan just like they did through the 2010’s, but end of the day if you have no options there will be no change

[@jeffs4483]

@@MacTac141 That's what they said about the British Empire and their UK pound currency but that's not the world's reserve anymore.

[@wilhelmbittrich88]

@@jeffs4483 that’s not completely true

[@altrag]

@@MacTac141 > 20 years ago people were saying the same thing And 20 years ago they were right. The dollar was slipping, mostly due to the rising power of the euro. Brexit pretty much killed that path but "just expect a major partner to leave one of the world's most powerful unions" is not exactly reliable as an economic policy. > and in 20 years they’ll still be saying it Doubtful. In 20 years either the US will have gotten its shit together and rebuilt its reputation and trust among global partners, or it will have completely given itself up to the "can't be trusted for more than 4 years at a time" reputation its been creating lately and nobody will need to say it anymore because it will already have happened if this bullshit goes on for that long. > that meets all the criteria needed to be the global reserve Nobody has any idea what that "criteria" is. Americans like to assume that America's way is the only way, but that's just American exceptionalism at play. America itself only got to the position thanks to basically blind luck - namely, because Europe destroyed itself and America was the only industrial power left when WW2 ended. If WW2 had gone differently, America might still be the backwater agrarian nation it was a couple decades earlier (or at least, it would have likely taken a lot longer to break out of that system). The only "criteria" that's absolutely necessary is _trust._ America is currently squandering its trust while China is working to create some of their own. It'll take China a long while to earn the trust of western nations (and will probably never earn the trust of the US given their adversarial positions), but its working hard to create trust within Africa, South America and even the Middle East. All the places that America has either ignored or outright plundered over the past few decades. Sure they're comparatively small economies individually, but China if can unify and stabilize them under the RMB and Chinese investment, they'll add up to a very significant global economic block. American exceptionalism is a serious detriment to American foreign policy. America's way is not always the only way and if American lawmakers insist on blinding themselves to any alternatives, they'll fail to see their own downfall whenever one of those alternatives ends up working. Because it will happen, sooner or later. No empire remains uncontested forever. It might not be for a century or it might be next year. Nobody can predict exactly when, but it will happen and the only way to counter it - whatever "it" ends up being - is to notice it before it happens and prepare.

[@JohnK004]

@@jeffs4483 You could say the USD is the sequel to the British pounds ;)

[@cestraig]

Well produced, informative video. Well done!

[@RollyBalondo]

The time when China stops buying US bonds, that's the time to look up for.

[@HominisLupis]

It's been selling for months.

[@dawei666]

Why? Things simply adjust .

[@trekpac2]

The time is upon us right now. China is liquidating its holdings rapidly.

[@stephenlight647]

They already have, but that just means a segregated monetary world where you have a Yuan that can’t e converted and a Dollar that can. Which of those is a better currency to hold?

[@TheRandalf90]

No it is not. Many countries now have to sell dollars to protect their currency. China is one of them.

[@markcollins2704]

Imagine thinking this is a bad thing

[@LeroyTorres-ul8oj]

🇷🇺 Love and respect from Colorado, USA 🙌

[@anime0965]

Why are there so many angry Americans here?😂 By 2050, entire Asia will have about 3 times bigger economy than USA itself. So obviously US will lose its "exorbitant privilege" eventually. Its invetible. Also so many Americans are coping so hard with the "Chinese demograhic collapse" theory. They will suffer badly when the actual effects hit but its still atleast 20 years away. The US is still a way too powerful state which will retain atleast as much influence as the EU today for the next 50 years. So why all the panic? If Japan decides to team up with India and if EU decides to take beef up their military and be strategically autonomous, only then the Americans will lose too much power. And even then its impossible to force America into a authoritarian state, like some Americans here fear. The chances of that happening are even lower than the current China successfully transitioning into a democracy without any external intervention.

[@Persev444]

Dear Caspian , can you list the references in comments. Thank you, always impressed on depth and quality of all aspects of your videos. Over the years have enjoyed the reading selections.

[@foolsfolly3476]

Well, I hate to break it to ground news but we Marxists have been well aware of it even before it started happenin and we couldn’t be happier with the situation, what does ground news consider “left”?

[@thetacticaldesi5869]

I love the little one liners of wisdom this guy drops!

[@nyantakyibannor9328]

you are not the only one 😃😃

[@chronikhiles]

You guys are easily impressed by platitudes huh.

[@CKBmay10]

Great video!! Very balanced views as always Shirvan. And always a great catch phrase

[@allthebest1277]

the graphics again and again are top notch on these vids - great job.

[@bradebronson8835]

The Dollar is definitely in the decline and will not be the dominant world currency. Whether the Yuan takes over or not is still up for debate. I think there will just be multiple currencies from that point on. Not just one global dominant one.

[@masoodjalal1152]

For China to win, Yuan doesnt have to win, Dollar has to lose. As USD loses its market share and alternate currencies take up the share, US will lose its sanctioning power.

[@overload5287]

Its great how you manage to simplify so much info for people like to understand. Such a big picture of things going on.

[@xc43t]

I keep hearing that EU was too dependent on Russian gas and needed to limit Kremlin's influence. Same could be said about the need to use dollar but only now the notion comes to people's minds - and the idea comes from outside and often is framed as "attack on dollar", instead of wise policy of diversification. I wonder if US are switching their focus from Russia to China precisely because Russians are and were not a threat to them, but China makes the dollar hegemony no longer viable.

[@kkkamchatsky]

And you thought Putin just forgot to withdraw his 300 billion dollars? 😃

[@ItssMrT]

Never failed to impress, great video as always , big fan

[@karloyu3484]

Thanks as always for your updated version, Capian.

[@rsKayiira]

One small thing about all this. The Yuan is artificially lowered to make Chinese exports competitive. This doesn't make it a good store of value due to systemic risks related to the state as well as needing more of it for the same amount of dollars. The dollar is a much more stable hard currency than the Yuan and countries such as Japan, South Korea and other major Asian economies will maintain dollarization as a buffer to Chinese hegemony in the region. So all I'm saying is this is all fanciful and not grounded in reality although you accurately described dollar hegemony, you incorrectly assumed its over.

[@masoodjalal1152]

Unfortunately, you missed the last part where he mentioned that China doesnt want to replace Dollar, rather they want to develop an alternative system. The weaponization of Dollar destroyed the trust in the system. After the seizure of Russian Foreign Reserves, many countries dont feel confidence in dollar. The US can no longer be trusted with the money. The assumption that South Korea and Japan will keep the dollar as a buffer is a naïve assumption. They surely have alot to fear from China, but they cannot trust US fully. Say a Pro China government comes in South Korea tomorrow, will Korean reserves be safe in US hands? Or US would just seize them if they dont do what the US says? Chinese Hegemony or US Hegemony you may have your preferences, but it comes down to not putting all the eggs in 1 basket. That is why a lot of countries who are tired of US hegemony are looking for alternate currencies.

[@ThailandTerry2024]

It appears that the video neglected to inform the viewers that China’s economy is in the toilet. Additional information was also not included that India and China are bitter enemies and have been militarily fighting over a stretch of land on the India/China border. Both China and India look at each other with extreme suspicion and are almost in a full blown boarder war. Also the economy of Argentina is in critical condition. World politics make strange and at times strong bedfellows but India is still considered the Wild Card in BRICS …

[@TheRezro]

Also Transfer Ruble already was tested and failed. Transfer Yuan would do the same.

[@527ctguy]

China's boom is over. We will see India's boom in the next 30 years.

[@TheRareVideosXL]

Interesting content as always.

[@iberia777]

As always Širvan… beautiful language usage and top knot perspective on things! Saul!

[@mcpoooper1145]

Always a W seeing a caspainreport vid in the feed

[@sownheard]

It's about time the dollar gets replaced

[@TheRezro]

With the Crypto? It is probably more stable then Yuan or Ruble.

[@308_Negra_Arroyo_Lane]

If you think quality of life in the US has been falling, and that each generation is worse off than the last, you ain't seen nothing yet.

[@baronvonlimbourgh1716]

The USA has ignored inefficienties in all their systems for so long because it could solve it with brute forcing monetary policy for so long, if that ever disapears the USA will have a huge problem. And then the ability to invest in solving these issues will be greatly deminished creating a feedback loop.

[@logician3641]

@@baronvonlimbourgh1716 This is also the world's problem. People dont understand the fact that the world's population literally doubled while under US rule. The US's rapid decline will be catostrophic for other countries including China. Once the uS navy stops patrolling the world's sea lanes, international piracy and territorial water disputes will skyrocket, thus effectively ending the age of globalization that the Chinese economy was built on . Most of the worlds's top tech companies rely on US led efforts of the global rules based order for profits, and the world's citizens for new tech products. Not to mention the fact that the US is the worlds top food exporter. Many people around the world are gonna go hungry before Americans will.

[@Life-Is-A-Meme-t5h]

@@logician3641 and if China dethrones the USD and replace it with their currency, they are screwed because their goods would become expensive. Not a winning situation for them since they devalued their currency multiple times to export their goods at a low costs.

[@baronvonlimbourgh1716]

@@logician3641 that is not nesesarilly the case. That scenario would asume things would stay exactly the way they are for the rest. It asumes that these tasks would not be taken up and distributed in some other way. Like you say, china and pretty much all other countries also have interest in safe and open waterways. No reason to think the current way is the only way this could be accomplished. The reason the USA does this now is because it is in their interest to do so. Again, the reason the usa leads in these economic factors is related to the same advantages the current system provides the usa with. Once those advantages disapear or move elsewhere, so will the technological advantage and with it the draw for highly talented people. This stuff isn't an accident, the one with the most advantages will eventually generate the most wins and oppertunity will gravitate towards it. As that gravitational point shifts, so will succes, technological advancement, oppertunity and the immigration that generates. The main reason the USA currently doesn't suffer demographic issues. None of this is a law of nature, it is simple concequence of the situation as it exists today. Hence why a lot of people want to shift this situation away from the USA and more in their own favor, giving them a more favorable position in this world. Something the USA will try to prevent at all cost. That is also why trump has been so devistating as a president. He has done more damage to the american international position then the half a century of foreign policy preceding him. He set in motion a lot of processes that over the comming decades will only keep weakening the position of the USA as a global hegimon. Another stint of someone like him would be desasterous for the usa.

[@T15290]

Clear eyed and cogent as usual. The thing I like most about your channel is its radical honesty - any political orientation, if it is not blinded by ideology, should be able to agree on basic facts such as these. The transfer of military budget burden onto the U.S. taxpayer could represent a major global shift

[@tristanmoller9498]

Could you explain how the military budget is not yet a burden on the taxpayer? I don't understand how the dominance of the dollar is relevant to that.

[@sergioserobcam]

Everyone in the comment section saying what China can or cant do, knowing more about geopolitics than China itself... I mean, cmon guys, nothing is impossible nowadays, if you are just patience and consistant in a path, and China is indeed. So sorry Americans, its not what you think or believe, the world out of your borders have a say as well

[@TheRezro]

I'm absolutely sure China know in what game they play. It is more about looser who play with them.

[@mitchellbaker4806]

I've always wondered why the Pound and Euro were worth more than the USD, this explains it.

[@g-mav]

Probably the first Caspian video I’ve seen in a long time that misses the mark. I’m not American, and I have no dog in this race - but I understand basic finance and economics. USD supremacy is a result of two things: pragmatism and power. The former can’t be faked; the latter won’t be challenged without a fight. We should also think twice before being so quick to condemn unilateral sanctions as a tool for pressure and punishment. Yes, a case can be made for the US abusing its privilege in this context. However, this system is still far better than the alternatives, which are either retreating into global isolationism, or retreating back to bloody wars and conquest. Targeted financial warfare is still better than a hot war. Finally, when it comes to challenging world order… we must remember to be careful what we wish for. Imperfect as US hegemony may be, there are far worse alternatives.

[@udhayakumarMN]

All empires fall not because successive empire is benovelent ...

[@theotherohlourdespadua1131]

Least worst option, baby!

[@alainblackmann9564]

So, was the head of the US Treasury wrong when she admitted that unilateral sanctions is causing the US dollar to decline in relative terms? Because that's what the video said. Seems like you're a fan of the US, and don't want to acknowledge that some policy decisions have negative consequences.

[@prachetmakwana6011]

Buddy, people don't trust the yuan isn't not as if the dollar is completely clean, but it is the most trusted currency

[@theentity5201]

Don't trust anything other than the status quo, yeah thats a real winning attitude

[@ivancho5854]

Shirvan, your sponsor will from now on pay you in Yuan. 😜🤣

[@HughJass-313]

y not GOLD?

[@shahinal-amin8740]

Watching it from 🇧🇩 Quality of the video is very good and informative

[@fawazsaeed5806]

“In geopolitic you don’t want to depend too much on others even your shadow will abandon you when in the dark!”👍

[@casperkammann6870]

Iraq and Libya deserves some honorable mentions for trying to de-dollarise

[@HughJass-313]

Yep!

[@coffeegirl1]

Iraq?

[@HughJass-313]

@@coffeegirl1 Saddam Hussein was secretly planning to sell his Oil but only accept the *EURO dollar.* Next thing you know... he's a "brutal dictator" and "weapons of mass destruction", and also a very bad person... and U.S. took him out of power. 🔥🔥🔥 *Isn't Learning History FUN?* 😜😜

[@ArawnOfAnnwn]

@@ankitbhasi7794 Which is also a sign of how determined the US is to prevent this, given Saddams' and Gaddafis' fate. They'll even go to war to protect their hegemony.

[@ramadansteve1715]

​@@ArawnOfAnnwn Against two vile dictators? I'm good with that

[@pauloakwood9208]

The problem with building up gold reserves, is that gold just sits there. It is far less liquid than Treasuries, and most importantly, it doesn't pay interest. As regards the role of Dollars as the world's reserve currency, it isn't because the US economy is far and away the world's largest, or that the US economy does not depend on exports. Its because the US Dollar is the world's flight currency. Whenever there is trouble or instability in any country or region, people quickly convert local currencies into dollars. At the end of the day, it's about whose legal, economic and political system are you going to trust the most? China? Final point: SWIFT is not an American financial system. Its European, founded and headquartered in Brussels.

[@pauloakwood9208]

@@sparklesparklesparkle6318 Who is Ron Paul?

[@monacophotographyevents2384]

You're right, America may be politically dodgy at the moment but they are seen as a whole lot more trustworthy than the repressive Chinese. I can see it now, for example in Venezuela...people wanting to change their Bolivar into Yuan. It just isn't going to happen.

[@kzcciynk]

bro you can turn gold to liquid easily just heat it up