Comments by "looseycanon" (@looseycanon) on "Can Europe Join the BRICS and Destroy the Dollar’s Hegemony? | @visualeconomiken" video.

  1. I'm sorry, no. We're not a country yet. We're a trade block with a lot of hobbies.
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  2. I would be more optimistic about Euro. It is the second currency in the running world wide and Elon is pro destroying the FED, which is a major reason, why USD is so trusted. Now, if trust into US government (because of what happens to the government) and/or the central bank of said country were to cease to exist, what does that mean for adoption of USD for international trade?
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  3.  @pellehyltoft7771  If I recall correctly, Danish Krona is fix pegged to Euro with some 2% permissible float...I'm sorry, but that's just having Euro and calling it something else. Also, the referendum was 53,2 to 46,8. That's pretty close to me. On top of that, it's been 24 years. How has the sentiment changed since?
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  4.  @networkgeekstuff9090  I disagree here. Just look at US, how insanely diverse it is. Compare New York to Texas. Compare the Dakotas to Florida. Extremely different economically, politically, socially... You've got the Amish in the same country as porn stars. That's more diverse than here in Europe! Yet the US is a federation, while we're not. We are ready, it's only that some people preffer to be kings in small kingdoms, instead of dukes in a big one.
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  5.  @TrungNguyen-bh9ox  Well, nobody appareantly :D But with all seriousness. Euro is even with all that the second most used currency world wide. What if the USD loses the trust it currently has, thanks to independent FED and up to Trump I relatively sane policies? Euro taking over USD, if nothing happened to the Dollar is outlandish, but a self inflicted wound to the Dollar? Now that's a different story.
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  6.  @ArawnOfAnnwn  I don't think so. We have already shed our dependency on Russia and Russians them selves have stopped a lot of imports from the EU. And yet, we're still kicking as much as we are. Russia has been overcome. China has been becomming hostile state for Europe for about a decade now. They have been threatening tariffs all the time, or stealing our tech (Americans are not alone in this)... Not to mention, that China is some 10% to 11% of EU total exports. That's just half of what the US would have been, if there were a tariff war. Furthermore, they are not the only manufacturing hub. India could easily replace them as destination for any semiproducts still made in the EU. As for products and more importantly luxury stuff, China it self is schrinking for these markets, because the young proffessionals, who buy this stuff, are rarer and rarer find in China. they either flee to neighbouring countries and Singapore, or age out of the cohort. On top of that, China needs food so much, they are destroying ecosystems the world over, while Europe has multiple agricultural powerhouses. They can't tariff that, without causing serious domestic issues and given how stuff is going on in China right now... 1) nah, I don't really see them putting tariffs in before half of Trump's term is up and 2) even if they did, would Europe actually feel the effect in like six months? On top of that, there is a huge continent to the South of Europe, that needs capital goods, has the resources for the energy transition and young population, that want's luxury. And Europe is a lot closer to it than Russia, the US or China all are. That is, where growth is gonna be, and with whom Europe can rise with.
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  7.  @networkgeekstuff9090  Doesn't matter. The risks from possibility of bailing out a state are greatly outwighed by the possibility of just printing USD, if the FED ends up in tatters thanks to Elon's cost reduction measures and Trump's need to finance all kinds of projects without increasing debt, taxes and with no real assistance from tariffs. Cause that never ends. We have seen this in action, I believe in the Ottoman Empire back in a day. Didn't end well. And I'm not referring to what Erdogan had been doing, this is much older. My point, however, was, that even as diverse states as the US states across multiple different relevant scales can be, they are each a part of a single nation and it works, all be it with hiccups such as political polarization. If it can be made to work in the US, it can be done in Europe. Sure, Hungary will likely become European Alabama and Slovakia Mississippi, but we'll come to terms with that too.
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