Reply to Does anyone else believe the impending financial crash will be bigger than 2008-2009?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My concerns is BRICS and loss of reserve currency status.[/quote]

That ship has sailed -- it was a forgone conclusion when the USA froze Russia's sovereign reserve of dollars back in February 2022. No sane nation will hold a "reserve" that can be frozen at any time at the whim of whomever is in the White House.[/quote]

Pretty easily actually- don't send hundreds of thousands of troops to invade another country, and your money won't be frozen. Funny how simple it is![/quote]

Iraq War, anyone? Libya? Syria?

It's easy to spout off flippant remarks like that, but no sovereign nation will hold a "reserve" that can be frozen when *your* nation's actions (be they invading another country or something else) can serve as the predicate for another nation (i.e., the USA) freezing your access to your reserve funds. Of course, it's just egregiously funny that the USA has gone around invading other nations for decades.

In any case, ultimately it only hurt the USA that we did that. Now the de-dollarization of the world is inevitable and the U.S. dollar will inevitably lose its status as the world's reserve currency in the coming years.

What will that mean for us? A much weaker dollar and much higher prices for anything we import (which is almost everything). There may be some silver linings, such as increased domestic manufacturing and reduction in government spending that comes along with loss of a money printer that prints the global reserve currency, but it will be a bumpy ride.[/quote]

Huh didn't know we had any Administration/Russian assets posting here, good to know.  If this was the case, why didn't the dollar weaken significantly in 2022?  Why only now?[/quote]

Whatever -- that's all you Russophobes ever say. Anyone raising logical points you can't counter is just slandered as a Russian asset. I'm an American -- [b]I just know how stupid it was for the USA to freeze Russian assets in 2022 [/b]and what it means for the dollar. In all the years of the Cold War against our mortal enemy the Soviet Union, the USA never froze Soviet dollar reserves. [b]It was stupidity of the first order to have done so with Russia's assets in 2022.[/b]

Stick your head in the sand if you will; the market doesn't care. The dollar is going down in value and due to the rise of BRICS (accelerated both by [b]destroying the dollar's status as reserve currency as we did in 2022[/b] and now by the short-sighted tariffs against India and others for buying Russian oil) a new economic era is dawning.

People should consider how inflated the U.S. stock market and other U.S.-linked assets are (including real estate) and how that is likely to change due to the relative decline of the USA and the rise of BRICS. [/quote]

[b]NP but we've frozen Iranian continuously assets since 2012.[/b]  The idea that freezing Russian assets in response to their invasion of Ukraine was some uncrossable Rubicon that we blundered blindly over and the singular event which doomed the dollar is . . . revisionist?  A glaringly obvious false agenda?  Nonsense?  Bulls**t?[/quote]

Fair point, but there are important distinctions. The Iranian state that created those dollar reserve assets was overthrown in a violent coup in 1979 (one that included taking American diplomats hostage, as the old folks will remember). There was a reasonable, and widely accepted, position that those dollar reserves were frozen on behalf of the legitimate government of Iran that the Islamic revolutionaries overthrew.

That's quite a different thing compared to freezing the assets of a major world power like Russia when there is no argument that the Russian government that deposited the assets is the same Russian government in power today. Even when the Soviet Union invaded Afghanistan in the 1980s we did not freeze their dollar assets.

In any case, it's water under the bridge now. The U.S. dollar's status as the world's reserve currency was always going to end at some point; we've just greatly accelerated it now.

Investors must take this into account when creating their investment allocations. A much weaker dollar is coming. [/quote]

Except this did not have to happen. [b]Biden left this country in decent shape.[/b]

Trump has not only continued to crush the National Debt he's profiting every single time he does anything off of taxpayers. Instead of paying down the debt!

He is not a buisness man he's an idiot.

The US is going to a great depression because of the cult. UGH[/quote]

That made me laugh. :)[/quote]

Of course it made you laugh bc you’re a clueless idiot who thinks Trump is a savior. What a joke. You all deserve what you get. [/quote]

100% agree can not wait for MAGA to suffer greatly. [/quote]

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