Ask Prof Wolff: The Future After De-Dollarization
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- čas přidán 11. 05. 2023
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A Patron of Democracy at Work asks: "Can you discuss the future after de-dollarization, the short-term pain and the long-term hope for the United States, If there is any?"
This is Professor Richard Wolff's video response.
Submit your own question to be considered for a video response by Prof. Wolff on Patreon: / community .
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A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k
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.
in my opinion, the impact of the rise or fall of the U.S. dollar on investments is multi-faceted but learning how to grow your money has never been easier than now that you can explore and experience a truly diverse marketplace passively by using a well-performing portfolio-advisor.
Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/ analvsis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over 400k.
Mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc.
Catherine Morrison Evans’ is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
I agree with you, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
@@rogerwheelers4322 That's amazing! Given my failing portfolio, I could really use this manager's abilities. Who's guiding you?
@@eloign7147 I'd recommend ‘’COLLEEN JANIE TOWE’’. She is a genius when it comes to diversifying her holdings. You can verify her identity for yourself by looking her up online. She is well knowledgeable about the financial markets.
@@rogerwheelers4322 Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.
Times are weird. The US dollar is losing purchasing power due to inflation while strengthening against other currencies and assets. The stock market, real estate, crypto and precious metals are down because people are fleeing to the "safety" of the dollar. where else can we put our investment money? I can't afford to see my savings of around $320k turn to dust in front of my eyes.
Invest in gold n silver that's how u will survive the downfall of dollar by end of 2030.
savings? wish i had that..
@@gary803are you advertising something?
By gold and silver is your only choice or your dollars will turn to dust
Mikey.....BUY GOLD NOW ❗️❗️❗️❗️
DONT LOOKED FOR ADVICES.....JUST BUY GOLD AND YOU WILL GAIN MORE THAN KEEPING THAT USELESS CASH ❤❤❤
Money is just a piece of paper! LABOUR💪 IS EVERYTHING👍! 😊
We dont even need capital. All we need is labor and resources. Of course just like the government loan money to capitalists. They can loan that money to the labour so they can buy the corporations they work in it . And get the benifits of thier labor wages and profits.
Can I have your paper?
You are confusing "money" with "currency".
@@HughJass-jv2lt most economists they compare labor to capital . Capital is money. The difference between money and currency is just a technical question. In the end with creation of the term quantitative easing, both are the same . Most of the capital that was created in the last two decades was not generated by production or wealth but literally just by printing currency out of thin air .
Money no longer paper elec transfers ok
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again
@@DavidRiggs-dc7jk Please can you leave the info of your investment advisor here? I’m in dire need for one
@@HarrietBemish I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with Christine Jane Mclean for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
@@berkrix4312 Interesting. I am on her site doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call.
Enough is enough ,
No-one can stop the fall.
What goes around comes around.
Unfortunately, the collective west will not go down easily or peacefully, and they will resort to unhinged and unapologetic barbaric acts on the rest of the humanity, doing all this in the name of democracy and moral righteousness! Every regular person in this world should brace themselves!
Karma
Dedollarization means America becoming like Argentina, Venezuela, Zimbabwe.
yaaaaasssss. means no longer indiscriminate bombing syria n middle east in the name of "democracy".
It would be much worse
Live by the sword die by the sword. America for centuries has mercilessly lived by it, that tell you her fate🔥🔥🔥
🤣🤣
American era is barely started after ww2 ,
many centuries ? drunk?
@CrAzY Warrior You ever heard of the atrocities and lynching of slavery done to the African Americans starting in 1619, yep that's part of it🔥🔥🔥
Centuries??? ✋ stop…It started in 1913 …. America is going to stop being the guarantor of globalism. We will proceed to the Americas and let the rest of the world figure it out.
If the working-class American right-wingers really want to see what their future holds, they should be looking at right-wing Nazi Germany and the right-wing Confederate South. The wealthy-class right-wing enslavers are going to sneak out the back door, leaving the working-class right-wing enablers holding the metaphorical bag. I just hope I live long enough to see it.
The United States as we know it is no more. All signs point to 2023 being a year of significant economic hardship for the entire nation. Put your cash to use straight away to increase its value. I was aware that I needed to invest. I had no idea how quickly a few thousand dollars a month would go up. Though it is. Since 2020, I've made about $600,000.
Congrats. Your ability to control the whole risk profile of your investments and prevent irreversible capital loss will be your actual financial unlock. A plan must be in place to take advantage of opportunities to profit when they arise.
When you first start off, you should get advise from a fiduciary counsellor if you don't want to crash and burn. They adopt a profit-driven approach based on individual risk tolerance because their entire skill set is built on simultaneously trading long and short.
@@maryHenokNft How can I get in touch with Camille? What are her offerings? Is she verifiable? Do you believe she can assist me? I am from Canada.
Fiduciary counselors have access to exclusive information and data sources that aren't available to the broader public. By heeding the guidance of my fiduciary counselor, *Camille Alicia Garcia* I managed to generate earnings exceeding $820,000 during the third and fourth quarters of 2022. I have high expectations for continued success.
Thank you. I will search on her site online and do my due diligence. If She seem proficient. I write her an email and scheduled a phone call.
You always make your point Crystal clear, Professor!
🙏❤️🙏
ха-ха-ха...
At the beginning of war last year, he was very much in denial.
Prof wolf explanation is crystal clear. Thanks
always
the actual use of dollars was a nice little earner. but there are larger considerations, which sum up as, 'we're sick of the evil empire, and will do what we can to neuter it.'
Can carefull what you wish for
@@eddiekulp1241 it is not a wish but a reality, you can only bully someone for so long before they say enough.
If the working-class American right-wingers really want to see what their future holds, they should be looking at right-wing Nazi Germany and the right-wing Confederate South. The wealthy-class right-wing enslavers are going to sneak out the back door, leaving the working-class right-wing enablers holding the metaphorical bag. I just hope I live long enough to see it.
Hello Professor Wolff . I admire your work very much ! I know it is not a lot, but I hope this small donation helps in any way . Thank you very much
Every video you make is greatly appreciated Rick
America's arrogance holds no bound. People of the world have a choice. They can choose to hold dollars or not. America talks about democracy but is truely an autocracy.
The ROW are voting and they choose not to use the USD anymore.
Freedom of choice enjoy the decline...
Celebrate not! The dance has just begun. China is just a baby enjoying the sweat of its parents. The test is coming when this baby is left to lead.
Never Say NEVER 😎 Justin Bieber
May God Bless Prof. Richard Wolff For Bringing The Truth to us. May God Bless him. We will always pray for him. Thank You.
Great speech great professor great human 😉
Love the Wolff. Thankyou, Professor!
Excellent again! Thanks!!!
That was well said and well thought out, War is not the way but Trade and Economics is. See the light and move forward not backward.
Of all the comments i have heard about dedollarization, Prof Wolff, yours is the best explained and i have heard.
Hoping more people wake up and realize money is fake.
I think fake is an inappropriate word rather not supported by material foundations.
Your mom is fake
It's an objective delusion
You cannot have a moneyless society without having a classless society first.
Money is power cupons: an indicator of class position & a way to exercise authority.
@@dr.zoidberg8666 We the Dollars?
Thanks.
Thanks for your podcast, I really appreciate. Also, your english is clear with a perfect prononciation, as a french canadian, it helps me a lot to understand almost 100 % of your explanations :)
I love you and everything you say. I agree with you about ninety five percent of the time. The euro-nations make up a small percentage of the world's population. Just the existing members of the brics Nations. Accounts for half the world's population😮. When you add in Belt and road initiative. The Chinese will have 75%, of the world's manufacturing before this decade is over.😮 Less than seven years to go.
P.s I loved your speech at Boston community Church ✌️
We need to trade with BRICS or we will lose all we are?
China also has a huge demographic downfall and its begun. Less desire to have children today, a one child policy for 40+ years and 19 to 1 men to women ratio for those who can reproduce results in China not dominating the way the Belt and Road had anticipated. It's a start, but the trade war also started and continued with Biden; who took away their chips. These factors are going to slow down the paper dragon, I bet. Most of those countries in Africa can't pay back the belt and road initiatives, and even with mines and ports for 99 year ownership, China will suffer from getting old (population). Did we mention all of its neighbors in Asia don't like them and think of them as a threat? - Not anti-China, just stating the reality they face many challenges now that they are not under the radar.
great video value post thanks professor
Thanks!
Thanks
Thank u, excellent and easy to understand 🙏🏼🌷
thank you, sir!!!
African countries should think of having one currency to be used in african economies instead of joining clubs of exploiters
Ditching the cfranc and dollars
The exploiters intend to continue Exploiting the African continent...
No matter what else happens around the globe.
🍋🍋
That's what got the US to topple Gaddafi, he was proposing an African currency.
That ship sailed after Gaddfi was killed, to many dictators and strong men in power. Besides the Chinese already bought most of the continent.
East Africa, where you come from, is already in the process of having a common currency in East Africa. This will make the beginning of a larger project.
thx for insights as usual ❤
Thanks! 🤘🏽
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
@@sherryie2 Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 930k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2018, and I return at least $58k ROI, and this does not include capital gain.
@@corrySledd Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
@@AUstinnesc credits to NICOLE DESIREE SIMON, one of the best portfolio manager;s out there. she;s well known, you should look her up
@@corrySledd Interesting. I am on her site doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call.
well said
Great video
Thanks for the vidéo 🖖
Hello Sir, I am from India, I am always curious to know more about socialism & communism through books & lectures but i always felt there is lack of adequate resources which could explain things easily & effectively . But since i started following you I have got answers to so many of my queries and have been keenly following ur content. Heartiest thank you sir and plz keep spreading this wisdom.
Good comment, Prof. Wolff has been essential in my understanding of our economy through a Marxist critique. It is obvious that there NEEDS to be a reorganization of the economy for the sake of every country on this planet.
Listen to Chairman Mao audios of ON CONTRADICTION, ON PRACTICE etc available on youtube
Want to know about socialism?
Read the preamble.
I think you don't need to learn socialism because you are experiencing it right now.😂
before 1991 we were socialist jokers and then we liberalised and moving towards capitalism... as simple as that.. r u a bhimtya?? if u r one then go ahead with it.. coz the real growth in the world has come from capitalism and globalisation.. whole usa where he is making vdo frm is capitalist country.. there are some issues with capitalism which can be debated but overall its a most workable thing in the world.. world should move towards capitalism and tax the rich frm capitalism to give it to poor and lower middle class to make a middle income nation.. but dis joke communism doesnt work it discourages innovation.. in a scale of 10 a country shouldnt have jst 5.. it should have 4 5 6 and 7 nd it should stop capitalist to go beyond 7 or 8 so that there wont be overconcentration of power nd democratise the income through taxes but that being said big companies pays the important role in our society but should be regulated
Should we worry about central bank digital currencies (CBDCs)?
I think it's noteworthy that 2 of the BRICS are in the Global south. 2 others have a significant part of their land mass south of the equator.
Thank you Professor Wolff. How, or is, the CBDC related to De-Dollarization?
Wolff did it again😂😂😂❤❤❤
If there's a livable arrangement to be worked out, it 1st needs to be prioritized to not offending God as America has been doing, condoning spiritual wickedness in vile manners. We blow off God's rt & wrg, His chastening hand touches what we do care about. He knows how to humble those who walk in pride.
Bravo 🇫🇷 🥂
The only economic I like to listen to
The sad thing is most Americans haven't a clue about this subject. I've taught college level economics and found a lot of my students knew nothing about compound interest and how to use it for loans, or that the USD was not backed by gold. And I believe both lacks are pretty typical in this country. As the dollar declines the US economy will struggle more and while citizens will (and for other reasons do) know that something is wrong, they will not know why. That is dangerous as it gives an opening for demagogues, such as we have recently had in this country. And given America's recent history I sincerely doubt that the US will gracefully accept replacing the dollar with a basket of currencies. Dying empires do not always go quietly.
american people being in a deluded-bubble of cnn news is why so much can be effected with the masses still fast asleep. and this is after covid. can't outgrow what one identifies with - can't be truer than this time period with democrats fast asleep. while biden dumps debt on those that are paying theirs on time.
the "demagogue" you pointed at, made sure america didnt get into things like ukraine while at the helm bcz he knew how the snowball will gather weight.
so while a part of me feels bad for americans who are awake and yet helpless - coz the moment they try bringing a reform, they're painted as "insurrectionists" and jailed for years together. yes, this is the reason why americans will bear the debt burden - bcz those who say the truth are killed or jailed or they go to RUSSIA for safety. you are really getting what you deserve.
Who is leading this dying America with high inflation, war mongering in Ukraine, dollar decline, and USA decline? Biden and the Democrats. This demagogue as you are labeling it is a Trump led America. The solution of this mess is not more Biden and Obama- they created the problems. You label Trump and his supporters as Monsters when they are not in charge you guys are and look at the horrible results and trajectory you guys are leading us. Look at your crime infested, super hig taxed, and decaying cities as clear examples of what happens when you guys are in charge.
Always come here for the truth
I was unsubscribed! Grrr, I subscribed again.
Prof, tell us more of the sanctioning, bullying, threatening n assets seizing by the used of dollar.
Well said. You got my respect. If you can't win em join em.
Professor Wolf, please respond. How are we going to organize labor without militant resistance to show we mean business?
Thanks. Like this better than the gangsta rap theme
Since 1866, when the 14th Amendment was adopted, the U.S. government has defaulted on its debt obligations not once, not twice but at least three times.
The most notable of these defaults occurred in 1933, when President Franklin Roosevelt took the U.S. off the gold standard. During the Great Depression, the White House, Congress and the Supreme Court agreed to wipe out around 40 percent of U.S. private and public debt. The U.S. government did so by simply refusing to redeem its gold bonds into gold coins. Instead, the government repaid its gold bond obligations with depreciated currency.
A more recent example of the U.S. government reneging on its debt commitments occurred in August 1971, when President Nixon “temporarily” closed the U.S. gold window as part of his effort to regain control over inflation. By closing the gold window, the U.S. government abrogated a financial commitment it had made to the rest of the world at the Bretton Woods Conference in 1944 that set up the post-war monetary system.
At Bretton Woods, the United States had promised to redeem all U.S. dollars held for $35 dollars an ounce. When Nixon refused to let foreign central banks turn in their dollars for gold, he effectively “defaulted” on the United States’s long-standing obligations to make the dollar as good as gold.
A more recent, albeit lesser, example of the U.S. government reneging on its debt commitments occurred in 1968, when the government refused to honor its explicit promise to redeem its silver certificate paper dollars for silver dollars. When an embarrassingly large number of bearers of these certificates demanded the promised silver dollars, the U.S. government simply decided not to pay.
With the U.S. government’s far from unblemished credit record, domestic and especially foreign investors can be forgiven for entertaining at least some doubt about the protection afforded to them by the U.S. Constitution. This perhaps explains why in 2011, at the time of the last major U.S. debt ceiling showdown, U.S. and global financial markets crumbled as U.S. politicians played a game of chicken in approving an increase in the debt ceiling. It also might explain why the Standard and Poor’s credit agency chose to strip the U.S. government of its coveted AAA rating, thereby raising the government’s borrowing costs.
thehill.com/opinion/finance/3885293-actually-the-us-can-default-on-its-debt/
thehill.com/opinion/finance/3999846-theres-a-debt-limit-escape-clause-that-doesnt-include-the-14th-amendment/
I'm in the process of buying property in foreign countries....
While my measly u.s. dollars still have value
🤣
Will be much quicker than you think Richard
Get use to rapid inflation at times , higher cost for imports. Not good
A footlong sandwich (NOT a combo) costs $10+ at Subway. 10 years ago it was $5 for a footlong. 🤔
They don't need to be a basket of currencies, every country should use its own digital currency and trade that way example the Chinese should buy the Saudi's currency and use it to buy oil and the Saudis buy Chinese currency to pay for the Chinese goods, Both central Banks do the exchange digitally.
It’s like unavoidable.
Hello Prof Wolff: Would you please define economic rent for your viewers. Is it synonymous with price markup?
Thanks and keep up the excellent work!
The explanation dat has been given by Pro Wolff on the De-Dollarization is to be taken very seriously. What history has taught us about the rise and fall of Empires are not ' fairy tale' stories. During their decline there were huge changes dat affected those who lived under the Empire's umbrella.The U.S will not disappear but has to come to terms with the universal changes dat happens to all Empires.It is somewhat managing it's decline as other countries globally have taken another approach.In fact there is no exceptionality on this matter of 'decline'.
You pass off the fact we will take a 45% hair cut in CPI. TODAY half the budget is printing press money. It's GONE.
The real question coming out of Professor Wolff's analysis is whether it is possible for the U.S. government to balance the federal budget and pay down the debt. To be sure, federal spending is far higher than it ought to be. The CBS program 60 Minutes just yesterday (5/21/2023) offered some insight into how the government is grossly overcharged for military goods. The U.S. spends move on "defense" of its empire than almost all other countries combined. Social welfare spending is as high as it is because our system of laws and taxation guarantees we cannot achieve sustained full employment without inflation. Here, the solution is to move in the direction of taxing rents much higher and earned incomes, tangible capital goods and exchanges much lower.
Economists we hear in the media (including Professor Wolff) rarely talk about the taxation of rents. Perhaps this is because the concept of rent in economics is very different from what most people understand by the term. Political economists going back to the 17th century used the term "rent" to identify that portion of wealth produced that was unearned by individuals because it came from both natural and government-created advantage. Thus, even Adam Smith agreed that rents were particularly appropriate to tax and use the revenue to pay for public goods and services.
The thing is eventually when the benefits dry up, those who hold stronger position in american society economically will want to not let go of their power, this struggle will tear apart the the society
❤
I hope 'Dedolarization will not be an end in itself;and the other issue that we need to deal with is 'Are we going to replace USD with the currency of China or Russia...?EURO?or are we planning to introduce special global currency?or flexible trade deal among countries?or ...?
The inflation and implosion of a a nation currency is not something to wish for, except in the case of the US$.
Judging from this particular currency's historical and 'exceptional' utilization, and it's de facto stranglehold on the rest of the global economy, makes for a situation the rest of the world's economy could only _hope_ for . . . .
People don't understand what is currency and money.
Economist Mark Blythe of the Watson Institute at Brown University makes a cogent argument for why the global dollar system will not be changing substantially in the near term.
Why did the most recent David Harvey videos get deleted ?
If the dollar declines in its value, does that mean that the exchange rate will automatically be weaker compared to it is now. Can the FED distroy dollars to de-expand it to increase demand?
Dedolarization simply reflects the fact that the rest of the world has recovered from the devastation of WWII, and has managed to advance and modernize to a level of relative economic equality, all of which is totally good and totally beneficial for the whole world.
dedollarization talk seems to resurface every few years, however it seems unlikely to happen on a large scale due to so much world trade relying on eurodollar
Competition is a good thing.
The Declining Dollar calls.for the Personification of th
Prof. Wolff. Can you advise what to do to secure our savings. Would it be better to hold real estate than holding cash USD?
The United States behaves like a tyrant towards the other nations of the world by its laws of extraterritoriality and by its wars. How do you want private or national economic entities to have confidence in the dollar? The exacerbated warmongering of recent years will scare away holders of American debt and it is natural for an investor to seek a debt of confidence.
“A nation that likes to impose its own will on other nations; a nation that likes it at every turn to destroy other nations; a political entity that expands everywhere, dominates people everywhere, and flaunts its strength everywhere, there will eventually be a day of exhaustion.
Perhaps this is more the law of history!
In this way, whether it is history, reality, or logic, the United States seems to be "advancing bravely" toward the goal of doomsday.”
This is the only side of America that you see. America has educated many people around the world in her reputable educational institutions. American companies have lent China a leg up in her growth technologically. You can't underestimate the power that America will still wield. It isn't as if America has no partners!!
Short and long term should be stated. Yes, dedollarization is happening now... But it has little to no effect now *for most
The present Unipolar World of 77 years will evolve into a Multipolar World hopefully without turmoil for the rest of the world. The Hegemonic US in general must or be forced to relearn how to live within its means and mind its own business in the world
@@yu-jd5jg Sure, but the fundamental answer is still not answered. When will the effect take place for most, if it happens? The US hegemony is already declining etc...but that isn't the question precisely.
What if...
multi-national corporations (or local co-ops) were to pay employees via credit (cards), redeemable with participating business partners?
China is heavily influencing its currency to use in neighboring countries. One of the ways may be China partnering with Burmese officials to use Chinese currency when importing to get licensing/ import permits quicker in Burma.
There is only one real currency in the world since last 3000 years .
Gold .
Some countries pays people's life.
But some will get richer more and more))
The US government and the federal reserve bank did so much to cause the dollar to fall that I think they shorted it in the financial markets. The must intend to buy it back on the bottom. I would love to see a currency analyst address this idea.
Mr. Wolff ! You are looking better after Covid now that you seem to have a good haircut. And the clean shirts, very nice improvements help carry your always insightful messages. Thanks to you for your great studies and efforts.
This is a VERY MUCH NEEDED video. I hadn't thought to ask the question, but am fascinated by the answer. I will also absolutely look at the "decline-of-dollar" videos. Wonderful, thank you!!
If you wanna be successful, you must take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating.
It's amazing how people are trading without fear of making losses, while so many people out there are patiently waiting for Bitcoin price to skyrocket...😂
Job will pay your bills, business will make you rich but investment makes and keep you wealthy 🇨🇦
I met Expert Mrs Kimberly last year for the first time at a conference in London, I invested €25,000 and traded in one month making close to €90,000
Please how can I reach this Expert Kimberly everyone is talking about?
💐👍🙏🏻
😊😊😊
One question is this a fair system for the world?
Bitcoin is, study it for a few hours, you will learn so much!
Globalization has expanded trade between all countries in the world. Convenience, security and availability of flexible financial instruments have kept the dollar in the middle of global transactions between countries in trade that doesn't involve the US.
The dollar has served the world well as a reserve currency. Replacing it at this point would be like replacing an iphone with a pager. You could do it, but it won't be nearly as easy to use.
litical than economic.
The current push to de-dollarize is more political than economic. The big push lately has been lead by Saudi Arabia. The reason for that is that while nobody cared that the US sanctioned countries like Iran, Venezuela, and Cuba, they cared a lot when the US sanctioned Russia. But, the reason for that is that the billionaires around the world, like the Saudis, freaked when the US froze the assets of the billionaire Russian oligarchs. This wasn't some poor countries getting frozen, who cares about them? This was about billionaires getting, gulp, frozen.
It's going to be really hard to de-dollarize. Over the years, as the world's reserve currency, there have been a ton of really nice functionality and financial instruments and features built into the use of the dollar and the ability to trade and borrow with these instruments. As mentioned above, it would be replacing an iphone with a pager. It's going to be interesting to see whether, say, a South African furniture manufacturer trying to sell his wares abroad is going to run to abandon using the dollar, which is easy-peasy right now, for the clunky mess, at least in the near term of the next several years, that won't work nearly as well. The South African government may force him to move off the dollar, but it's hard to see him doing it willingly.
Look at the Euro, it can barely hold together even though it is used by countries proximate to each other with relative homogenous financial systems. A global currency that would tie together the disparate economies of the global south would be exponentially harder to maintain.
China RMB/Yuan as a reserve currency seems like a non-starter for many reasons. So what replaces the dollar? Nothing jumps out at you other than governments forcing their citizens to use something much less attractive to the people who are actually doing the trading.
But ...""small pinching" is going to hurt the little guy "hugely." No?
I disagree that we need the US, but agree with everything else
learn from British how they transitioned from an empire to an ordinary country 😅
An old Dutch gentleman I knew said: Holland used to be a great country; now it's a decent country.
@@nolitetebastardescarborund9761 as they say every dog has a day
If the working-class American right-wingers really want to see what their future holds, they should be looking at right-wing Nazi Germany and the right-wing Confederate South.
The wealthy-class right-wing enslavers are going to sneak out the back door, leaving the working-class right-wing enablers holding the metaphorical bag.
I just hope I live long enough to see it.
F*kc the right-wingers
F*kc the wealthy-class right-wingers who control BOTH/ALL of America's right-wing political parties which debase the working-class at every turn.
And f*kc the working-class right-wingers who vote against their own interests by supporting America's right-wing political parties.
F*kc the right-wing Repubocrats and the right-wing Demlicans.
Freedom to Assange and Gonzalo Lira
It's coming to THE HAVE AND THE HAVE NOT.
I think it's flawed to consider de-dollarization in isolation without also considering the end of globalization and the end of (for the USA) of access to cheap labor, commodities and products from overseas. Over the past decades of Globalization, America has lost a lot of it's manufacturing capacity to China, India & Asia and as a result is not self sufficient in a huge range of essential products. Thus the USA will need to rebuild it's manufacturing to try achieve economic independent again - but this will take generations to reeducate it's populations with a period of low income poverty for the majority in this interim. During these coming decades, the dollar will simply just vanish as a world reserve currency - just be a national currency (Backed by gold for international trading).
Law of physics: What goes up, must come down
The more you don't depend on money the better of you are
Is the USA able to pay back the debts and the interest? What you think about that Prof. Wolff?
No, it’s impossible
No more sanctions no more war no more coups dr wolf u forgot to mention..