Can anything challenge the almighty dollar's dominance? | Business Beyond

Will the US dollar always be the world’s most influential currency? Its involvement in the majority of international trade and its leading position in global foreign reserves mean it has stolen a march on all other currencies. But could competition come in the form of the Chinese Yuan or cryptocurrencies?
In this edition of Business Beyond we investigate the future of money with the help of experts in the field.
Find out if the world benefits or loses out by having a single currency with so much power. Hear how the US has been able to leverage that power to challenge its adversaries. And learn whether digital currencies could disrupt the world monetary order.
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#UsDollar #Cryptocurrency #Money

[@mcginnnavraj4201]

According to Bipan Rai, North America head of FX strategy at CIBC Capital Markets in Toronto, "there's more and more of a worry that incoming data is suggesting that the Fed might be a little bit behind the curve than maybe they expected moving into this year." I'm noticing more red than green in my portfolio. How are other participants in this market making over $350,000 in gains in just a few months?

[@trazzpalmer3199]

There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.

[@graceocean8323]

@@trazzpalmer3199 You will need a strong FA to help you through the current market turmoil. I've been talking to a coach named Maria Juliana Ramirez for a long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.

[@hannahdonald9071]

@@graceocean8323 we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?

[@graceocean8323]

@@hannahdonald9071 My Financial Advisor is MARIA JULIANA RAMIREZ. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.

[@zoeytank2921]

I'm literally holding onto straws right now, so your tip couldn't have come at a better moment! I plan to call her after doing a quick internet search for her.

[@alfredfischer9501]

I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?

[@allisonjanet8914]

Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade

[@HarrietExudes9]

I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert, Mrs Perianne Boring

[@rudigervonsydow4811]

​@anninaniedenthal4605 You don't need to be shock because I'm also a huge beneficiary of expert Mrs Perianne

[@oliviasutton725]

The importance of a professional mentorship of an expert should be the first step in trading...

[@jesusaalba4511]

Here in Canada Expert Mrs Perianne Boring carries out the both orientation and mentorship potentials

[@belljoe]

According to certain economists, it's possible that the U.S. and certain parts of Europe might experience a recession at some point in 2023. Although a global recession, which is characterized by a decline in annual global per capita income, is relatively uncommon due to the faster growth rates of emerging markets like China, in comparison to developed economies. I have pulled out more than $340k from my bank. After all, the FDIC covers only up to $ 250,000, and the implosion could have bad effect. Looking to invest into the stock market now. Does anyone know how I could go about it?

[@rannyorton]

Collapse is generous 1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them. Reckoning for participation trophies is incoming.

[@PhilipMurray251]

Ironically, these are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The banks are in a big crisis. The market looks very shaky. The bigger the red candles, the bigger the green ones. I have made over $ 280k in the last 4 months by investing through my FA.

[@belljoe]

Wow. I've heard similar success story from people who work with advisors. How do I get in touch with yours, please?

[@PhilipMurray251]

There are many you could potentially find online. I personally work with Deborah Sue Bohn , and she's been spectacular. But there are also many others you could check out yourself.

[@belljoe]

Definitely gonna check her out. I live in Switzerland. Any idea if it's still okay to reach out?

[@user-wt6zf4ek9k]

Several of the biggest market experts have been voicing their opinions on exactly how awful they think the next downturn would be, and how far equities may have to go, as recession draws closer and inflation continues.. well above the Fed's 2% objective. I'm trying to build a portfolio of at least $850k by the time I'm 60. I need suggestions on what investments to make..

[@oliviaHill-w4e]

I'll suggest you find a mentor or someone with experience guide you especially in this recession. especially for your 401K, IRA and portfolio diversification.

[@AdamGreene222]

@Mark Lofgren please tell me how to use this recession to make gains! Grew my reserve of $121k to over $513k btw DEC. 2011 and AUG 2012 but the market is diff now..

[@laszlolee]

@Mark Lofgren Sounds great. I could really use the expertise of an advisor, just can’t find while I’m away for work in New Zealand for another year. My portfolio has been stagnant.... Who’s the person guiding you can I get a phone number?

[@AdamGreene222]

@Mark Lofgren I just looked her up on the internet and looked into her credentials. I wrote her a letter outlining my financial objectives and planned a call with her.

[@laszlolee]

@Mark Lofgren Thanks for sharing this. I did my own lil research, and your advisor looks advanced and experienced. I wrote her and so I scheduled a phone call. She is experienced can't wait to have a chat.

[@Bawdale]

For countries sitting outside the west, the US Dollar is 1) expensive to use, they pay far higher exchange fees, 2) it is increasingly used to force countries to comply with US demands, 3) if you hold a large amount of dollars you are losing around 10% per year in purchasing power because of the increasing expansion of the money supply. 4) if you fall out with the US they steal your money. 5) the US monitors all transactions via swift and uses the information to sanction companies, buy strategic companies, spy on companies and more just like an authoritarian state. Many countries now seek a solution and swap deals, crypto tokens, and eventually a new payment system is the future. With modern tech there is no need for a single reserve currency, the dollar will be the currency of the west and the rest if the world will move on and as they develop so will a new currency.

[@jatinkumar7287]

Look for. Brics, if they lounch a currency it's gonna be for the future

[@alexfnd]

Don’t you think authoritarian states like China and Russia will do the same as the USA

[@blessyou163]

also, 1.USD is not backed by anything, and other nations don't want to give their labor and resources for paper

[@floydblandston108]

Three reasons for fiat currency hegemony; 1. Who do you 'trust'. 2. Who do you trust to control their own circumstances- internal and external. 3. Who do you see being favored by 'the future'. Every penny of currency arbitrage is based on the calculations between those three things....

[@Zero.0ne.]

most logical comment on this video

[@hillbilly4895]

Yup, and since (+/-) 70% of the Worlds commerce travels by sea who's navy does commerce/wealth trust the most? I think the World knows.

[@donjasjit]

Where was the trust in US honouring dollars everywhere when it froze Russia’s reserves. The same could be done to China or India too. So, don’t give me that trust argument. That is gone. Nobody, outside the west’s immediate circle trusts that their money in dollars is safe. That is why there was record buying in gold in 2022, almost entirely by the global south.

[@jameshightower8875]

China can’t be trusted to look out for anyone but themselves. Literally most self centered country I’ve ever been to.

[@myserbia]

goodbye Mr. Dollar - enough is enough. This us politic is killing Eu

[@zinktomas8251]

Not only this, but a couple key points missed here. The dollar is reinforced by the U.S navy controlling world trade routes and the lack of a real alternative that’s not an authoritarian state that constantly manipulates its own currency.

[@tinto278]

💯💯

[@Stan_the_Belgian]

Best comment

[@WaveRider1989]

Well the $800B had to go somewhere. How would any other country in America's position handle this? We've seen UK, France, Belgium, Germany, Spain, Japan all be superpower; remind yourself how they handled power. What about mongolia 1000 years ago? How much population did they wipe put ?

[@deathguppie]

That, plus the US ability to insulate itself from foreign influence in its markets due to supply of necessary imports. Yes the US does import a lot, but it is a net exporter of oil, agriculture, and technology. The bits and bobs imported make up only a very small amount of US gdp, something like 11-12% and 80% of that is Canada and Mexico. All this means that the US dollar is far less likely to be affected by any major foreign occurrence than any other single country in the world.

[@Coxman]

@@WaveRider1989 Well Britain ended the slave trade all over the world, that what they did when they were a superpower. Don't know what the rest can claim but the Americans keeping the seas safe is big deal for the world. Who else will guarantee world shipping? The only country in the world with a navy large enough cant condemn countries when they invade other sovereign nations. So yea, that 800 billion is money well spent to keep international trade going, the whole world benefits.

[@gowhereulike]

It will change. In India, rupay card replaced Master/ Visa card and UPI payments increase at an exponential pace. Indian UPI payments are accepted in Singapore and Nepal. In few months, it will reach more than 21 countries.😊

[@RolopIsHere]

Hahahahahahaha.

[@samsungdelila5960]

Mr pajeet 🤣🤣🤣

[@bladerunner53]

India needs to grow it's economy to 10 trillion dollars for rupees to even be considered as potential alternative currency.

[@gowhereulike]

@@bladerunner53 hope for the best.

[@FaceFcuk]

India needs toilets before it can claim anything else 🤣

[@raquetdude]

No, the US dollar is tied to US navy. Whoever controls trade via military is also able to have the global currency. See Imperial Spain and how their currency was historically used hundreds of years ago cause of the naval dominance.

[@WanWanOfficialX]

Its the time when you need to buy russian oil, you have to pay it with ruble. If you need chinese product, pay it with yuan or other currency....this kind of trade is more fair Its happening in BRICS, unfortunately many westerner havent realize this, because almost all western media seem like dont want to talk about BRICS The sanctions and US rising interest rate seem to backfired, now all countries realize that they could have the same fate as russia, and they realize that US could export inflation to the world.

[@analyticalmindset]

​@@WanWanOfficialX exactly

[@WaveRider1989]

Well the $800B had to go somewhere. How would any other country in America's position handle this? We've seen UK, France, Belgium, Germany, Spain, Japan all be superpower; remind yourself how they handled power. What about mongolia 1000 years ago? How much population did they wipe put ?

[@100c0c]

@@WanWanOfficialX Countries are run by professional economists. They have always known that, but USD will only be replaced when China sets RMB free and allows for easier investment.

[@cinpeace353]

Well, there is BRI that links trade routes through land and flight in the sky. The world is changing.

[@reinheartlagat1430]

the russian example is local currency trading from russian rubles to indan rupee they trade without dollar by using the local currencies vostro and nostro account. It cant challenge the dollar but they can trade without using US dollar.

[@lonelyglace5207]

The dominance of dollar turn to pathetic for world economy. Dollar must be dumped now to get rid of it.

[@dominushydra]

U.S. Dollars just smell good. That's the reason why they won't fail.

[@jetli740]

$$$ wont smell good much longer

[@dominushydra]

@@jetli740 silence and make me my shrimp chow mein, peasant. 🥡

[@jetli740]

@@dominushydra would you like 💩💩 with your order?

[@dominushydra]

@@jetli740 Nevermind. Taiwan makes it better anyway. 😋

[@mna7308]

Currently it's being challenged, banks are closing down because of the challenge

[@malav_patel]

What are you talking about? 😅the bank closing have nothing to do with USD lol that’s due to a whole other thing lol 😂 educate yourself first lol

[@mna7308]

@@malav_patel lol when u.s export inflation lol and sanctions others lol billions in reserves would be removed lol educate yourself lol

[@mna7308]

@@malav_patel lol u.s has no industries lol, they exported it abroad lol, so now others are looking for alternative banking system lol, that's why the other countries withdraw in billions lol

[@malav_patel]

@@mna7308 just another fool doing baseless arguments. The bank failures happened because their portfolios holdings being invested predominately in one sector LOL...not cuz of US sanction hahaha ... like I said you need to educate yourself lol

[@nick-oi1xf]

The end of globalism will also end the dollar as a global currency and in a multipolar world, trade partners will trade in their own currencies.

[@Dweller415]

When the dollar was truly on top of the cash heap, my Army buddies and I could travel across Western Europe using the dollar. Merchants and vendors accepted dollars without any hassle. Now with the Euro the dollar isn’t accepted as it was; which is completely understandable.

[@mandarinandthetenrings2201]

They still do Ebros. You need to understand President Biden has annihilated the Russian econom and the Russian ruble. China and Xi Jinping has totally closed off the Chinese currency from world to prevent his people from sneaking out any more money to America and NATO.

[@russell2449]

That doesn't mean the same thing - I assume you're talking about before the EU came into being, but whether or not merchants accept dollars now has nothing to do with the USD losing its dominance but rather the simplification of commerce. IOW it's much more difficult to go around pricing everything in a market in both euro's and dollars, especially when changing dollars to euros or most 1st/2nd world currencies is as easy as apple pie, lol.

[@eli_manguala]

its because USA was economically so superior and seen as a dream country by europe now some countries in europe are way wealthier than an average us citizen

[@Thinkingaroundthebox]

As the worlds most stable currency, everyone switched to the dollar standard when they moved away from the gold standard Cryptocurrencies will never replace the dollar as the world trade currency because it isn't backed by any government entity that insures its value The Chinese Yuan could overtake the dollar, but that would require that they overtake the United States as the largest economy first and then convince the world that their central bank can keep the Yuan stable enough to manage trade globally That all being said the IMF and other entities could come together and create a new currency for the sole purpose of using it for international trade that isn't tied to any government and insured by the IMF

[@CHMichael]

It's really about acceptance. The EUro could easily become a equally accepted currency. I don't see Europe and the US accepting Chinese currency. Something more neutral could win. Crypto backed by energy. Oil, gas, hydrogen and fully charged batteries.

[@OnivertInHouston]

The Yuan is already becoming an equal to the US dollar due to China's economic alliance with Russia, India, Brazil and many others. And they along with many oil producing nations are replacing the petro dollar for international oil trade.

[@CHMichael]

@@OnivertInHouston are the Saudis accepting yuan as payment at this time?

[@dezafinado]

@@OnivertInHouston my dog said it would run away from home if I bought any currency backed by Russia, Brazil, India... as for China, Chinese food is good. Smart dog.

[@Seanw-ij7yx]

@@CHMichael they are close or the deals already done. either way its inevitable.

[@josephnulley6808]

A good, clear and wide ranging report.....

[@arabicreja5726]

No, you look at what happened to Iraq and Libya, those who tried to replace the dollar got democracy instantly

[@GerardPedrico]

You need to understand the terminology of "legal tender" inherent the US Dollar As Legal Tender and it means that the US Dollar is backed by law and has political power. Good for economic value stability and for prosperity building. The problem with cryptocurrency though is that it is not legal tender and it doesn't have political power. Nowadays, the cryptocurrency is geared to becoming tokens, something akin to like the "Travellers' Cheques of the 1980s decade" but modernized in a way for the internet 21st century. That is okay. The US Dollar is the world's most trusted global currency and that is nice. 🙏🙏

[@fabianadefreitas2365]

For 50 years, the United States has relied on the Saudis to stabilize the dollar - "the petrodollar". China approached Saudi Arabia with Iran and made a $30 billion deal with the Saudis. Believe me, it's a big problem for the US economy.

[@rollinglama]

dollar is here to stay long. but the downfall has already started.

[@fabianadefreitas2365]

Fact

[@xavariusquest4603]

The only option is the Euro. The Yuan cannot be used because it's basis is communism. The Yuan can never have anything close to a natural value because, by definition, their is no ownership of anything in China...all capital, all resources, all land, all money, all property BELONGS TO THE STATE...therefore there is no process to derive an internal exchange rate (Yuan for goods and services) and for an international exchange rate. No other entity on Earth can establish a currency with a hint of stability...other than the Euro. It has the size, the throughput, the assets, the wealth, the economic vigor, and the international reach to become the reference currency after the dollar. Other currencies are fine but have far too many limitations to make them the base exchange currency. If you remember, back in the 80s, the Yen was considered to be the currency to switch to because Japan's economy had swollen so greatly. What happened? The inevitable. There is another reason...the Navy and military. The US is the only force on Earth willing to keep lanes open for international trade we have nothing to do with. Everyone benefits if overall properity is maintained. China is claiming waters many hundreds of miles into international waters. They are compromising the economic stability of Asia. Consider that the US has protected Chinese shipping for decades. That will not happen if we retreat. People need to understand that the issue with Taiwan has less to do with Taiwan and so much more to do with maintaining the flow of goods and maintenance of the global economy.

[@Seanw-ij7yx]

u've been watching way too much cnn kiddo. it'll be funny when u wake up and find out NA has turned into the new africa.

[@xavariusquest4603]

@@Seanw-ij7yx you have precisely the insight I'd expect from someone who subbed a month ago.

[@atanacioluna292]

Always great presentations. I'm not sure I got a sense of completness. It seems a hybrid digital currency supported either by another government(s) or private entity, combined with a basket of commodities or other valuables could play a more reliable source of value and stability. A monetary unit is trust, data, and information, so anything is possible and I feel it is just around the corner.

[@Holuunderbeere]

Global credit system

[@RespectOthers1]

I don’t think the US will ever allow the dollar to become less important without a fight let alone replaced.

[@Nehas949]

Brics will fight. Nobody give up their power easily. We have to kicked out Britisher from India.

[@WanWanOfficialX]

Thats why they DESPARATELY want to contain china. The china fault is only he rise too quick that it threaten US hegemony.

[@ricardosmythe2548]

No nation has held onto the position of world leader in this regard for more than 110 years or so for hundreds of years

[@iqbalsohel9166]

hmm. that's why fighting is going on in all fronts before our own eyes. interesting time

[@SpazzyMcGee1337]

I don't think the US would do anything drastic if the EU's euro surpassed the dollar. It's simply unlikely that it would. America's geographic privilege, strong political and economic institutions, and strong belief in personal property makes it the most stable global currency option.

[@dmn4794]

Short answer - NO.

[@iRoxxy07]

Recently 18 Countries agreed to Replace USD with INR (Indian Rupee)

[@unconventionalideas5683]

That may be so, but how long will it last? The Rupee is a good currency compared to say the Renminbi, but it is not necessarily as stable or well managed over the long haul. The USD also floats, whereas the Rupee does not necessarily float the same way.

[@lonelyglace5207]

🤩🤩🤩🤩😁😁😁😁😁😅😅😂😂😂😂🙄🙄🙄

[@naomiallen7443]

I'm glad I got into trading when I did because it was a turning point for me financially it was my best decision so far

[@grayallen1634]

Bitcoin has been going down for a while now and it could keep going down or decide to go up. The truth is that no one knows, I think it's a good time to make a purchase and also seek professional help

[@julianaalacer5321]

Inspiring! do you think you can give me advice on how to invest in a healthy way like you do? *

[@julianaalacer5321]

Thanks, I found her. I've heard from many experienced traders... I hope she can help me

[@stephenselton2555]

Wow my neighbor also talked about her, she must be an experienced trader for us to talk about her so well thank you for sharing her contact

[@patrictutaki3786]

Saudi Arabia joins BRICS will do it

[@fabiss23]

until US freedom will visit Saudi if they don't behave.

[@jetli740]

@@fabiss23 bully tatic is all US know ?

[@fabiss23]

@@jetli740 and China? they act very fair, right? and all other empires in the history of humans, right?

[@jetli740]

@@fabiss23 history? why not look at now? how your country make lie and destroy other country that dont bow to your idealogy

[@svanimation8969]

@@jetli740 yeah lol

[@julianfromgordonparkbrisba1545]

This was an interesting piece. However I was disappointed it didn’t cover a global fiat currency. This was suggested by Keynes at Bretton Woods, I think he called it the Banyo. In the event, he was out manoeuvred by the American delegates. Yanis Varoukakis has updated Keynes idea through the use of blockchain technology and called it the Cosmos. I would be interested in a piece which discussed these proposals as an alternative to the US dollar as the global reserve currency.

[@ApplePotato]

Bretton wood, is often is portraited as our European allies willingly adopted the USD as a reserve currency out of a sense of cooperation. In reality the European nations had no choice. Their countries are in ruin, and they owe huge amounts of war debt which was written off by the US in the Marshall plan. Under the Marshall Plan the aid money was mainly used to by US made goods and services. This made holding USD reserve the only way to get the products and services needed to rebuilt. But in the 70s France tried to actually exchange their USD reserve into gold, which threaten the dominance of the USD. The Americans pull the rug from under and stopped backing their currency with gold. This greatly pissed off the European nations but nothing can be done. Either they ditch all their USD and crash the economy of their largest trading partner or risk hyper inflation moving their own currency to fiat or gold standard....

[@袁大陸]

Long life US dollars ! Printing and printing, paper becomes money.

[@simony276]

Toilet papers treated as money.

[@danielmisgana2672]

What on earth is this video? You don’t mention BRICS once?

[@SpazzyMcGee1337]

I think it pertains more to economic scale and geographic security, which just so happens to be the type of nations that are in a position to dump a lot of money into power projection. Correlation doesn't equate to causation.

[@mandarinandthetenrings2201]

Russia economy has totally crated, and right now China has shut it self off monetarily from world. So there is no one to challenge the United States.

[@noahway13]

The US does not take major advantage of the dollar being the reserve currency. Imagine if Russia or China were the reserve currency. The vast majority of countries wanting to ditch the dollar is because they have suspicious motives of expansion, or social injustices and don't want to get sanctioned.

[@amanverma7033]

Thanks to Russian oil india saved a lot of money. We both are focusing on dedollarisation of oil trade too 😁😁😁

[@art-media209]

yes

[@zwcdamien]

Oh, yes. Because mighty India accounting for 3,4% of the world’s GDP is a major threat to the dollar.

[@amanverma7033]

@@zwcdamien why did you got triggered china is also following de dollarisation. Even saudi want to sell oil in Chinese yuan 😁😁😁😁

[@zwcdamien]

@@amanverma7033 I’m not triggered, I’m just freaking hilarious. India wants the rupee to dominate, Russia the ruble and China the yuan: and each one of you will do the best to not give the other one a upper hand. Yes oil is good for industrious non-technical nations with a cheap labour force. Nevertheless, Western market dominates the world. Cars, trucks, computers, chips, phones and other high-advanced technology make up the majority of world trade. Dollar’s in good shape. You’re just an uneducated dude on KZbin spreading your ignorance.

[@ruzicas.5819]

​@@amanverma7033Its about a volume of mutual exchange. So you can buy for yuan something you need from china. Russia is currently in very bad positon because it was forced to take indian currency for its oil and their export from india is many times smaller than oil export. So they sit on useless rupie (for them) and long for dollars...

[@supernova3371]

You guys missed the indian rupee russia iran srilanka and Mauritius already making transaction using sva ( special Vostro account) and it will expand in near future more countries are willing to join it and it may be integrated with India's upi ( unified payment interface) someday

[@edgar-mmxxiii]

A small fraction of world economy. Euro is actually bigger where the countries at stake are bigger and are more stable economies compared to those you mentioned. For a currency to be dominant, there are factors that must be considered. One is its size in relation to world economy, stability, the profile of the country/countries behind it, influence on the world stage, etc.

[@alokshukla6888]

@@edgar-mmxxiii The freezing of dollar reserves of some countries and weaponization of dollar as a tool has sent shock waves across countries. The analysts should cover this aspect also while projecting future.

[@bradleycooper9437]

@@alokshukla6888 thats why you cant just invade a country without repercussions when you're in a global world

[@alokshukla6888]

@@bradleycooper9437 What about US invading Iraq, Vietnam and Afghanistan under garb of coalition which didn't even bear UN approval. Way forward was shown by USA

[@shreyanshdubey5654]

​​@@bradleycooper9437 there will repercussions for freezing other countries money it can be much bigger than former.

[@Drganguli]

It is better to spend money rather than accumulate huge foreign exchange reserves. Gold is also a good choice for nations

[@lenkiatleong]

DW does not want to talk about countries using their own currencies to trade with each other instead of USD. If the whole world does that, USD usage could drop very quickly.

[@First-Last_name]

Only 12% of the global economy is traded outside the USD. The dollar is like English, it's one of the few reliable constants in this world.

[@lenkiatleong]

@@First-Last_name the last time I checked, it's 59/200%. It can decline overnight if the US continues it's path to weaponize USD.

[@blokin5039]

@@First-Last_name China is quickly changing that.

[@fabianadefreitas2365]

​@@First-Last_name For 50 years, the United States has relied on the Saudis to stabilize the dollar - "the petrodollar". China approached Saudi Arabia with Iran and made a $30 billion deal with the Saudis. Believe me, it's a big problem for the US economy.

[@Eddyke]

@@First-Last_name We're discussing the drop in dollar usage and you're here quoting historical statistics... Many countries are beginning to dedollarize... Brazil, India, Russia, Iran, Tanzania, Kenya, Saudi Arabia it's unprecedented... And it's possible the yuan will not replace rhe Dollar but still the dollar crumbles because of countries using own currencies in vastro account

[@Solder-of-Empire]

Dollar is going down.

[@forgivensign]

"Nothing is permanent, everything changes. You never bathe with the same water in the river" heraclito

[@Nehas949]

Dw obsession will Indian media clearly showing.

[@WaveRider1989]

What?

[@Nehas949]

​​@@WaveRider1989 since few day wion firstpost talking about india ditching dollers iran copying india. India doing rupees trade with more than 40 country Including srilanka Bangladesh russia iran etc.

[@SpazzyMcGee1337]

I watch DW specifically for such international perspectives.

[@Nehas949]

@@SpazzyMcGee1337 they copy topic from Indian media😂😂on international news and about india from uk usa gutter media.

[@SpazzyMcGee1337]

@@Nehas949 All of which is fine by me because I wouldn't otherwise be exposed to those stories.

[@footballunited4843]

In 1920s no one thought any currency could replace British pound …in 1945 it was replaced by dollar…

[@CanadianBrewingChannel]

Difference of the Euro and BRICS is the amount of potential industrial growth due to population. China and India alone have almost 3 billion people vs the population of the countries involved with the Euro is not even close. And the US has only 4% of the population. It all comes down to potential and future growth.

[@skytron22]

Short answer? No. Long answer? Definitely not.

[@it2720]

Most Chinese people like the Chinese government and CCP, especially ordinary people, while only a small number of wealthy people and intellectuals do not. After returning to China, most Chinese people who have lived in the US believe that China is better than the US. Those who think the US is better are usually people who do not have a green card and want to obtain one. Those who think CCP is bad should go to live in China for a month, visit various places, especially places where ordinary people live. I suggest visiting Zhejiang, a great place. After visiting China, one's prejudices against China will change. The American society has too many biases against China. Those who say CCP is bad in the US do not really understand China. It is mostly a serious individualism that ignores public concerns and is a complaint after failing to live in China. Americans with prejudices should really go to live in China, and they will regret their ignorance. In China, people are actually very, very free, as long as they do not violate public power. Everyone can live and work freely. This public power in China is different from that in the US. The freedom in the US is built on the freedom of money and wealth, and it is difficult for poor people to enjoy this freedom. In China, poor people can also live well, much better than poor people in the US. Chinese elderly people are the happiest in the world, which is not found in Americans or Europeans. The main ethnic group in China is the Han people, and the CCP is a party mainly composed of Han people. The Han people have a history of thousands of years and have never invaded other countries. There have been many wars in history, but almost all of them were wars to resist foreign ethnic groups, as well as internal wars. China has never initiated any foreign wars. The conclusion that China poses a threat to the US is a European way of thinking, which is completely different from Chinese thinking. Europeans do not understand how Chinese people think, which is a complete misunderstanding and an unethical way of thinking. Of course, it seems that Chinese people invaded Europe in the past, but that was not Chinese people but Mongolians. Now, it is only a part of some ethnic minorities and Russia, not part of Chinese culture at all. Your freedom is actually in a culture of non-freedom. It is recommended to go to China, especially to ordinary communities, and see for yourself. Then go to Shanghai, Chongqing, and Zhejiang in China. I believe you will change your thinking. Just like the protagonist in "Carmen," the US is not the freest, and the true freedom of China is just a different understanding of freedom. The freedom in the US is actually conditional, that is, one must have money.

[@LSmoney215]

Because the G7 is heavily connected to the dollar and some of the G20 lines the dollar cus it's stable compare to others. Because of that the most important wants to keep it that way. USA ties with EU NATO and south Pacific Asia. They are the world leaders in GDP too

[@Seanw-ij7yx]

did u really just call the g7 as the most important countries? ur white right? but lets take a look at the countries in the g7 canada 34 million people. italy 61 million france 65 million germany 81 million there are cities that are bigger than some of those countries.

[@Seanw-ij7yx]

lets look at gdp canada : 1.8 trillion italy 2.0 trillion france 2.6 trillion. uk 2.1 trillion the g7 is a group consisting of america + 6 other countries that give america the best blowjobs.

[@LSmoney215]

@@Seanw-ij7yx Germany over 4T GDP. G20 Japan 4T GDP India 3t. I see you pick and choose.

[@LSmoney215]

@@Seanw-ij7yx yes g7 and g20 beecause of sanctions. Not just g7

[@LSmoney215]

@@Seanw-ij7yx look up the China export and import to g7 g20 member

[@dongdong9560]

Sure, the dollar itself will kill dollar. The US is on the way doing that.

[@kukulroukul4698]

WTF DO I KNOW ... we just MUST stay united ....things will solve themselves

[@kukulroukul4698]

ALSO we need to award greater CARE to Africa... the african mentality is changing at a FAST PACE now

[@kukulroukul4698]

there are countries in Africa that emulates us BETTER than we ARE ourselves

[@dongdong9560]

This the rule of the history, people know what will happen, but no one can change anything!

[@tonyca6943]

Lol a winnie the pooh worshipper, China bot

[@karlecolin7864]

Why didn't they mention brics??

[@paulwalker427]

dominance of trillions in debt - no thx, sick of propping up this failed state plus its not been the worlds reserve currency for all that long has it? Would be good if the subject was researched

[@Howaboutyoublow]

It is probably one of the most researched topics in the world, it’s been the world reserve currency since Bretton Woods. The debt I have to agree with you, however out debt to GDP (how much debt vs the output of our economy) ratio is only around 130%, countries like japan and China are 300%. So again the alternative doesn’t really exist

[@paulwalker427]

@@Howaboutyoublow the alternative exists just not given a chance due to 'murica' Would like to see the Rubel knock the death blow to the dollar

[@JitendraKumar-ve7ow]

It's already started. Countries started trading each other in local currency among each other.

[@kukulroukul4698]

you mean BARTERING

[@russell2449]

Sorry Bubba but you can't use that system for a global financial system, but what you do in your little pond isn't affecting anyone else one single bit lol. It's funny how you think that doing what you say would have any effect on the US at all. Use the dollar, don't use the dollar, no big deal, our economy is the largest in the world for a reason dude.

[@RightSideNews]

Dollar dollar bills ya’ll

[@basbekjenl]

I dare you to name a more politically stable major power then Europe! The EU is politically unstable?! The world is politically unstable, from Asia to the middle east to Africa to the Americas, everyone is having trouble everywhere, comparatively the EU is at most having protests and debates. I'd hardly call it politically unstable but what do I know, I'm not in those political rooms witnessing the debates.

[@chadfife3265]

The EU is still to young, it barely weathered the Greek crisis. UK leaving etc etc. EU is great but needs another couple decades where it is very very stable and see more central control and more cohesiveness about economic policy among member states

[@mile_381]

@@chadfife3265 how is eu not stable?

[@lembafranck3490]

EU lol what is the military power of the eu exactly ? what is the political power of the eu ? how many american bases in the eu ? the eu is not a country yhe us is that s the difference

[@3markaw]

You said major power. Europe is not a major power. The leading country in the EU for decades could not find the courage to put a measly 2% into their defense budget. As a result of the UA war Germany's defense minister had to admit that they are totally unprepared for any conflict now or in the immediate future. Hopefully the EU has now awoken from their drunken stupor and will put the funder of tyrants legacy behind them at least for awhile before returning to their true DNA . We shall see. So far it looks like the EU still want the US to be their bodyguards.

[@gosmarte669]

Do you know how the EU citizens feel about the EU and the Euro?

[@carolinas8886]

Good to see Rob here.

[@nichtschoenaberselten]

Classic reality drop.

[@Calm142]

No mention of gold?? Strange..

[@mile_381]

because usd isnt backed by gold. Strange

[@thomaskaiser969]

Gold has failed once before, why try again. The only hard money is btc

[@allahdinosamo7654]

Yes distrust around the world will surely break its back . Simple .

[@user-unfound33]

One US dollar in 1940 is worth 20 USD today... The dollar is not as strong as you think and the world is moving away from it.

[@wolfvale7863]

"One US dollar in 1940 is worth 20 USD today." That is because of inflation and affects all currencies.

[@SpazzyMcGee1337]

Inflation is not inherently bad and certainly not unique.

[@mile_381]

🤡

[@to04buk]

Nothing can last forever

[@muhaimemddaud686]

The world required China products. This cannot be denied because most products made by China. The moment China wanted any company buy products from China needs to pay with Yuan. Than the beginning of Yuan to emerge.

[@Oldfogey2014]

What a no brainier question! I certainly wouldn’t want to trade in Yuan. One reason is that you can’t send your Yuans out of China without a huge pile of paperwork. Even if you do have everything, including your dog license, the Chinese government can still deny you the right on a whim.

[@miliaurora1038]

As if US doesn't deny you at their whims???

[@zm4904]

@Mili Aurora Correct, they don’t. There are no capital controls in the US.

[@3markaw]

@@miliaurora1038 You are free to try it yourself if you don't believe it instead of wildly speculating about reality.

[@yllbardh]

DW should either subtitle or be more picky on their choice of *experts*

[@Kim....]

Making money is an action. Keeping money is behavior. Growing money is knowledge..

[@ShinjiIkari007]

BRICS currency backed by gold: lemme introduce myself

[@jesusaguilar4585]

​@@oleg.lyamin All you need is major economies to ditch the Dollar and trade in other currencies. BRICS may not bring a new currency but currently they are beginning to trade commodities without the dollar but their own currencies.

[@HTeo-og1lg]

@@kreight_ "Not happening",.yet. Remember the folk-wisdom adage: "Nothing lasts forever". Read the Book of Ecclesiastes. Chapter 3: verses 1 to 8.

[@mile_381]

@@HTeo-og1lg grow up and stop believing in fairy tales 🤣🤣🤣

[@xavierclayton9990]

The national debt and spending can/will challenge the dollar.

[@aubadthe2750]

Silly. The dollar is because of the American military period

[@ReseCema]

The US dollar is currently the dominant currency in the world, with most international trade being done in dollars and central banks holding their reserves in dollars. The dollar's supremacy is due to a variety of factors such as its use in global trade, deep and liquid capital markets, and a legal system that protects property rights. The euro and the yuan have been considered potential rivals to the dollar, but both have faced challenges due to various factors such as the fragmentation of the European Union and the Chinese economy's performance. Other national currencies, including the British pound and the Japanese yen, have also not shown signs of unseating the dollar.

[@samsungdelila5960]

Many countries now is trading their own currencies specially the yuan..Saudi,iraq,Iran,more of countries trading to Chinese yuan the dollar is becoming less in less important in the long term

[@ReseCema]

@@samsungdelila5960 I agree with u, but US dollar still remains the dominant currency in the world, accounting for the majority of international trade and central bank reserves. While some countries may be shifting away from the dollar in their trade deals, it remains to be seen whether this trend will continue in the long term or if the dollar's dominance will be challenged in a significant way.

[@samsungdelila5960]

@@ReseCema if the trends is continuous the USA dollar hegenomy is no longer significant to other countries after all USA is abusing the dollar dominance and making sanctions other countries in the name of american interest the world is changing and countries around the world is sick of tired to usa interfering

[@戚文玮]

The problem is that dollars are not given to other countries for free, the United States only produces dollars, not goods. The whole world got dollars and then bought U.S. Treasuries. And the United States gets the products of the whole world, which is real wealth

[@戚文玮]

If you check all the allies of the United States, the recent holdings of US debt. You will find that no matter what the U.S. says, everyone knows that the status and strength of the U.S. is declining rapidly, and U.S. allies are constantly selling U.S. debt. The reason why they are selling slowly is only because they are afraid of causing panic and avoiding more losses.

[@gandhikumar2956]

India Rupees will replcace Dollars to domainate the currency market since India has the high quality goods and huge market. India, the next superpower.

[@imrankaiser5539]

Superpooper🤣🤣

[@SSModi852]

Just when smoke may indicate possibility of fire, even that we are having this discussion is clear indication of risk. Holding some gold does not hurt. Holding cash is a financial sin. Always hold assets.

[@Worldaffairslover]

No currency is close to replacing the dollar 😂 😂

[@89volvowithlazers]

ECB clearly could compete with the euro as a reserve currency however no other country outside Europe collectively has a currency that is trustworthy. Chinese yuan Russian ruble no freaking way bro. Euro or a pound sure Argentina's peso sorry nope same with Brazilian currency so ...what to do what to do

[@dloui5214]

highly unlikely !

[@bambamkitring6666]

The fact that there will be more option to do trade with own currencies in the future. Its not necessary for a country to trade with dollar anymore since the people just want to trade with own currencies. Its Good for the world..

[@ArendJanV]

Given the scale of US deficits I wonder how much longer foreigners will be willing to foot the bill. When foreigners stop buying US government bonds, the party will be over real fast.

[@larryg1902]

I don’t see Europeans spending money with a Chinese guy on it. That’s just facts

[@chilam2512]

Nothing can challenge the Dollar, you challenge the dollar you get crushed with freedom and democracy.

[@Foersom_]

US debt ballooned with 8 trillion more under president Trump. US is a backsliding democracy. In 2021-01-06 the former president attempted a coup to retain power after losing election. Still some 50 million think he won election. Last week Majored Taylor Greene called for a divorce to split US in two. It is no longer a political stable country.

[@manekedark]

The British said that until Dollar brakes them down and now the British Pound is history and the Dollar will bet too.

[@3markaw]

Exactly why every year tens of thousands of Chinese move to the USA but only a few americans move to China.

[@buildmotosykletist1987]

There's one word that keeps popping up when I think about this subject and it's ; "stability". No other countries currency offers political stability equal as, or even near to the USA.

[@ruzicas.5819]

Other than EU currency.

[@buildmotosykletist1987]

@@ruzicas.5819 : Nope. Look at how the EU members fight each other. The EU is getting more and more unstable and they know it. The EU organisation is very nervous about losing countries.

[@ruzicas.5819]

@@buildmotosykletist1987 What?? I live in EU and there is no any fights or problems between countries. There was Brexit but no other country intend to leave eu. Eu is the most safe and stable area in the world. Better than USA, no criminal, no racism, no guns, better social security and fair distribution of society's wealth.

[@buildmotosykletist1987]

@@ruzicas.5819 ; I suggest you read the Newspapers. Every point you bring up is contradicted every day. Especially racism, where are you hiding ?

[@buildmotosykletist1987]

@@ruzicas.5819 : BTW. The 'safest' place is Australia and New Zealand.

[@mhleuro8464]

Good report overall although it could expand more on what it takes to maintain a ‘global currency.’ You have to be secure as a country first of all (Europe fails miserably here) and also be able to project externally when needed (I.e. play bad cop) to maintain the integrity of the currency (every developing economy fails here). Every country seem to love to complain about ‘dollar hegemony’ but aren’t capable or willing to take on the burden. Speaking of China and crypto, perhaps the focus should be on rooting out corruption from the global system rather than trying to find ‘the next whatever’ which will then face the same + new problems.

[@esosaede-obarogie3125]

Rooting out corruption in an America dominated global banking and Finance is a mirage. Corruption comes with excessive influence I.e lack of competition etc

[@First-Last_name]

Yeah, yeah, now give back the north west passage you stole, and apologise for the Windsor White noise.

[@krzysztofp516]

In my opinion as long as there is a demand for dollar in all around the world and the dollar is the reserve currency, nothing threatens it. And the strong US economy is a guarantee of this.

[@cinpeace353]

As long as... But the situation is changing....

[@krzysztofp516]

@@cinpeace353 yes but you need circumstances in order to have proper situation

[@Foersom_]

Try reelecting Trump. He will increase the debt even more than 8 trillions extra debt from his first term. He may end democracy. He can ruin the dollar with another trade war.

[@krzysztofp516]

​@@Foersom_ I've been hearing about America's decline since the late 90's it's nothing new. America can pass the costs of its economic policy onto the rest of the world. it is their privilege when they have such a strong world currency.

[@leathan7]

Who remembers when bit coins were 0$? Who remembers when monero coins were 0$?

[@CHMichael]

Saudis starting a crypto barrel to sell oil could be a problem. Together with Russia, Venezuela and Iran.

[@sockhal4595]

Why nobody mentioned the rouble as a dollar competitor ? Just joking 😂

[@edgar-mmxxiii]

It is now reduced to rubble. Even its name is synonymous to collapse.

[@reis1185]

BRICS+ currency is the future

[@bradleycooper9437]

why are u talking about a beggars money ? :D

[@89volvowithlazers]

Love what u do with language history this was good stuff too great work bet u do more productions worth noting.

[@kleuafflatus]

For a second I thought I recognize the guy in the video, took me 2 more seconds to realize and confirm it's indeed RobWords.

[@MH-jt3lx]

Trade in what then? Rubles ,, Yuan,, Rupee ,,,I think not

[@w.monster1077]

De-dollarization is coming

[@mile_381]

cope harder

[@hasibsed]

Maybe show the value of Bitcoin from the inception in 2009?

[@livreene7250]

Huh, BTC is still denominated in USD, is it not?

[@zioslayerslayer1562]

At the BRICS summit in august, the collective members will dump the dollar, and the dollar hedgemony will be over !

[@kjjackson5608]

😂😂😂😂

[@zioslayerslayer1562]

@@kjjackson5608 get back to this in august, if i am wrong i will send you a thousand $ in Bitcoin !

[@SamPashmi]

Keep dreaming 🤣🤣🤣🤣

[@DavidNelsonATX]

Nothing lasts forever. That said, the dollar will remain dominant in the near term.

[@khawmtiti4460]

Because US dollars are real genuine money that has standard of excellence

[@thomaswilliams6668]

Short answer. No.

[@diogobezerra467]

The value of the dollar is pegged with most part of commodities. While those commodities are in demand, while the world use dollars to negotiate those commodities the dollar will rule. The dollar may fall if an enemy nation gets stronger than the USA and wants to control the international market. Second if an enemy nation discovers an higher technology that USA and allies don’t have and can produce this technology without help support of USA and allies and have ambitions to dominate the world.

[@fabianadefreitas2365]

For 50 years, the United States has relied on the Saudis to stabilize the dollar - "the petrodollar". China brought Saudi Arabia closer to Iran and made a US$30 billion deal with the Saudis. This is a historic event

[@dhanjeepandey4252]

Excellent...

[@techcafe0]

all I know is that we, ‘the underclass’, are in a desperate struggle to find affordable & stable housing, and put food on the table. we're barely scraping by in a world of savage greed, grotesque inequality, narcissistic billionaires and crypto-crooks.

[@WaveRider1989]

What else is new ? As if there was some utopia before. There are 8 billion people in the world. The ones that can't afford it on Central Africa, Asia should perhaps think about family planning, less poverty

[@herb1003]

I don't get why the "world reserve currency." has to be from one country that makes zero sense. What's the point of having institutions like the United Nations and the World Bank when all they care about is preserving their imperial influence over the world. How is it that we are still using a global financial system that dates back to the 1940's. In my opinion if the United States can't take into account how their monetary policies affect other parts of the world, then they should relinquish the position they hold internationally. After all these years with all the advancements that we have observed to suggest that we can't globally come up with a stable global currency that reflects the value every country contributes to the world economically is actually absurd. The current system isn't working and it's not even fair, currencies in developing countries are being devalued through no fault of their own and all for what so that the US can send out their silly sanctions that don't even do anything. Honestly, I can't wait for the world order to shift.

[@larsthorwald3338]

What about Yap stone money?

[@jarvisidlette236]

In the far future we can live in a world with 2 or 3 reserve currency and the world will still function fine, we will all be long gone and dead when this Occurs, it all boils down to law and order, financial institutions u can trust

[@akunbodong4996]

it is very sad when the world agrees to use a currency for transactions between countries but is used to pressure other countries. it is time for the world to replace the dollar with another currency that is neutral and free from the interests of any country.

[@markharcourt2214]

Who cares, now theres an alternative, and every time something is traded/bought/sold for anything other than the USD it is a win

[@maarifa4772]

No matter what you think or do, the US dollar 💵 is not going anywhere soon.

[@palashchatterjee4895]

Not soon but yes later

[@bradleycooper9437]

@@palashchatterjee4895 1000 years more

[@SamPashmi]

@@bradleycooper9437 and even then, it’ll most likely be another freedom loving democracy, not a tyrannical regime 😂😂😂😂

[@fewdaysofbeautifullife9219]

End days are near for US 😂😂😂😂😂