Chance of USD collapse, hyperinflation, loss of reserve currency status, etc

[Anonymous]

Anonymous wrote:Russia's economy is 99.3% collapsed. How could the ruble replace the dollar as reserve currency? What even is the train of uninformed babble that led a "guru" to that conclusion?

Stop clicking those links, the algorithm is only going to send you crazier and crazier sh*t when you indicate interest.

Yeah the Ruble? lol 😂

[Anonymous]

Anonymous wrote:Lately been seeing lots of online "gurus" talking about this scenario as if it's highly likely, especially after the sanctions on Russia. Of course, I take what they say with a large grain of salt since a lot of them are crazy right wingers or those who hate the West and want it to fail.

That said, what do you think the chances are of the following

- US not being able to service its debt if interest rates rise
- USD losing reserve currency status to the Ruble or Yuan
- hyperinflation
- massive depression on the scale of 1929 or worse

The Ruble? As a replacement for the dollar? WTH. Where are your critical thinking skills?

[Anonymous]

Very high. US keeps ringing up massive debt and tries to monetize it. Saudi Arabia is now accepting the yuan for payment. It won't happen all at once, but just as a slow chipping away.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:0%

This is pretty conservative. Reserve currency status is also supported by our rule of law. Law is predictable here. US law also is exported to World in international deals. Also our economy can’t really be equaled. Look at 2008. We were back by 2013. Europe never really came back. Hyperinflation should not work here. Where else would you go if not to the dollar. There is literally no other place. Not China. Not when it is a pure dictatorship.

Things are pretty good here and people either can’t or won’t open their eyes.

The U.S. was chosen as the reserve currency because after WW1, the USA had 90% of the world's gold reserves. All the other countries had spent their gold. There needed to be a currency that could be quickly exchanged between countries to pay bills, so the US dollar was chosen. This meant that all transactions between countries passed through US banks. We are fully off the gold standard, but our banks still control the transactions.

“ When Did the U.S. Dollar Become the Global Reserve Currency?
The U.S. dollar became the official reserve currency of the world in 1944. The decision was made by a delegation from 44 Allied countries called the Bretton Woods Agreement.”

Maybe that mattered in 1944; but now the value of a dollar is all the productive value of our country.

Oil producers accept dollars because they hold good value or some 80 year old agreement by the Allies.

They accept Yuan now because they trade a lot with China and thus they feel confident they will get decent value for that currency within those trades.

But who else is paying with Yuan for oil other than China and maybe North Korea?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:0%

This is pretty conservative. Reserve currency status is also supported by our rule of law. Law is predictable here. US law also is exported to World in international deals. Also our economy can’t really be equaled. Look at 2008. We were back by 2013. Europe never really came back. Hyperinflation should not work here. Where else would you go if not to the dollar. There is literally no other place. Not China. Not when it is a pure dictatorship.

Things are pretty good here and people either can’t or won’t open their eyes.

OP here, agree that there is really no better alternative to a US led order. A world led by China and/or Russia will be a complete dystopia. But we might be biased as Americans and I’m not sure the rest of the world agrees.

Or we can go back to gold standard or Bitcoin

[Anonymous]

Anonymous wrote:Very high. US keeps ringing up massive debt and tries to monetize it. Saudi Arabia is now accepting the yuan for payment. It won't happen all at once, but just as a slow chipping away.

100% agree. We are the reserve currency just because the oil is assessed in dollar. They saw how the Russian were quick out of the swift system and some fortune were confiscated without dual process. Do you think they want to take the risk for much longer?
And other countries watching us how we just print money just because. What about if China decided that they can not longer want our dollars in exchange for all the crap that we brought from them?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Very high. US keeps ringing up massive debt and tries to monetize it. Saudi Arabia is now accepting the yuan for payment. It won't happen all at once, but just as a slow chipping away.

100% agree. We are the reserve currency just because the oil is assessed in dollar. They saw how the Russian were quick out of the swift system and some fortune were confiscated without dual process. Do you think they want to take the risk for much longer?
And other countries watching us how we just print money just because. What about if China decided that they can not longer want our dollars in exchange for all the crap that we brought from them?

Russia GDP is tiny. And China will always need access to our consumers much more than we need their exports, with few exceptions. Still it will be tempting to inflate our way out of debt, but remember inflation had been below fed target levels for many years before the recent price spikes.

[Anonymous]

The rubble as reserve currency? Seriously?

You need to educate yourself. Start here.

https://www.federalreserve.gov/econres/notes/feds-notes/the-international-role-of-the-u-s-dollar-20211006.htm#:~:text=In%20part%20because%20of%20its,are%20denominated%20in%20U.S.%20dollars.

[Anonymous]

Very accurate. The dollar will go to zero so they can adopt the one world digital dollar. It’s been in the works for years.

[Anonymous]

Anonymous wrote:Very accurate. The dollar will go to zero so they can adopt the one world digital dollar. It’s been in the works for years.

So funny. Other than the biblical Armageddon association, wouldn’t that essentially be the same as the world going on BTC or gold standard? All currency across all countries fixed? I guess BTC is “trustless” and “defi” but govt will usually control internet infrastructure so good luck avoiding them if they want to take control.

I love how people build bogeymen that they worship at same time.

[Anonymous]

Sounds like someone's been reading Russian troll farm propaganda.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Very accurate. The dollar will go to zero so they can adopt the one world digital dollar. It’s been in the works for years.

So funny. Other than the biblical Armageddon association, wouldn’t that essentially be the same as the world going on BTC or gold standard? All currency across all countries fixed? I guess BTC is “trustless” and “defi” but govt will usually control internet infrastructure so good luck avoiding them if they want to take control.

I love how people build bogeymen that they worship at same time.

Not even end times. https://www.marketplace.org/2011/12/15/going-cashless-isnt-end-world/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Very high. US keeps ringing up massive debt and tries to monetize it. Saudi Arabia is now accepting the yuan for payment. It won't happen all at once, but just as a slow chipping away.

100% agree. We are the reserve currency just because the oil is assessed in dollar. They saw how the Russian were quick out of the swift system and some fortune were confiscated without dual process. Do you think they want to take the risk for much longer?
And other countries watching us how we just print money just because. What about if China decided that they can not longer want our dollars in exchange for all the crap that we brought from them?

Russia GDP is tiny. And China will always need access to our consumers much more than we need their exports, with few exceptions. Still it will be tempting to inflate our way out of debt, but remember inflation had been below fed target levels for many years before the recent price spikes.

Yes but Russia is the richest country in natural resources always be exporting. We don’t produce as much as we consume, not even close. Our economy is based on services.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Very high. US keeps ringing up massive debt and tries to monetize it. Saudi Arabia is now accepting the yuan for payment. It won't happen all at once, but just as a slow chipping away.

100% agree. We are the reserve currency just because the oil is assessed in dollar. They saw how the Russian were quick out of the swift system and some fortune were confiscated without dual process. Do you think they want to take the risk for much longer?
And other countries watching us how we just print money just because. What about if China decided that they can not longer want our dollars in exchange for all the crap that we brought from them?

Russia GDP is tiny. And China will always need access to our consumers much more than we need their exports, with few exceptions. Still it will be tempting to inflate our way out of debt, but remember inflation had been below fed target levels for many years before the recent price spikes.

Yes but Russia is the richest country in natural resources always be exporting. We don’t produce as much as we consume, not even close. Our economy is based on services.

Export driven economy rich in natural resources? That describes most 3rd and 4th world countries, so yes Russia fits right in.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Very high. US keeps ringing up massive debt and tries to monetize it. Saudi Arabia is now accepting the yuan for payment. It won't happen all at once, but just as a slow chipping away.

100% agree. We are the reserve currency just because the oil is assessed in dollar. They saw how the Russian were quick out of the swift system and some fortune were confiscated without dual process. Do you think they want to take the risk for much longer?
And other countries watching us how we just print money just because. What about if China decided that they can not longer want our dollars in exchange for all the crap that we brought from them?

Russia GDP is tiny. And China will always need access to our consumers much more than we need their exports, with few exceptions. Still it will be tempting to inflate our way out of debt, but remember inflation had been below fed target levels for many years before the recent price spikes.

Yes but Russia is the richest country in natural resources always be exporting. We don’t produce as much as we consume, not even close. Our economy is based on services.

I don't think you understand how financial markets work.