Comments by "" (@badluck5647) on "We are moving toward a post-U.S.-dollar world, says Rockefeller International's Ruchir Sharma" video.

  1. They said the same thing about the Euro is the 2000s and the Japanese Yen in the 80s.
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  2.  @Apache1970  What currency are they going to switch to? Unless forced to by debt deals, no one wants China's currency that is continually valued outside of supply and demand. The CCP even has capital controls because Chinese citizens prefer to switch to the dollar. Switching to the Euro would just bring the same issues as the dollar, but with more volatility.
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  3.  @Apache1970  There isn't enough of the mineral on Earth to equal the collective value of every US dollar. This was true in the 1970s before the value of the global economy has doubled several times over. Try again
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  4.  @Apache1970  You clearly have less than a basic understanding of economics. Again, there isn't gold on earth to be a substitute for the US dollar. Using the gold standard would permanently limit the money supply, which would result in people holding onto their wealth instead of investing it. China and Turkey are buying gold to get around their own countries' capital controls. Their citizens would love to dump the crappy local currency for dollars, but their governments have made the exchange at the market rate illegal. Instead, they have to settle for gold as a more stable holder of value than their own domestic currency. While the US dollar does have an inflation issue, it is still the most stable currency, which is a global market where double-digit inflation is the standard. It is good news that BRICS continues to grow, but it doesn't mean that these governments are reliable financial markets. Brazilians don't want South Africa's rand, and South Africans don't want Brazil's real, so they will continue to use the dollar. (It would be stupid to assume they would use volatile gold, too.) The only market big enough to replace the US would be China, but China refuses to let go of capital controls and the nation's lack of rule of law makes the yuan an attractive currency reserve.
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  5. They said the same thing about the Euro is the 2000s and the Japanese Yen in the 80s. This is the current generational panic.
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  6. ​ @crescentprincekronos2518  US is not an empire. It wealth is through trade and innovation, while Empire's steal resources from those they conquer.
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