Comments by "G L" (@gelinrefira) on "ITM TRADING, INC."
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@charleshinton8565 You are looking at the wrong thing as usual from westerners who have very limited view of the world.
The point is that the USD is the financial colonialism power of the US. Making sure that it stays the dominant currency used in international trade is crucial to keep USD in demand and thus allow the Fed to print them with impunity. In turn, the USD circulating outside, which is basically real commodities being monetized returns to the US in the form of US treasuries, thus completely the cycle.
What mBridge and other de-dollarization efforts are doing is to break that cycle from different parts. mBridge breask using the USD for international trade. Dumping US treasuries and setting up alternate financial systems to deal with the USD circulating outside the US breaks the cycle of recycling back the USD to the US government.
All of these break the demand for USD, which are just worthless pieces of paper at the end of the day, because it is the commodities and services being sold and bought in USD that give that piece of paper purpose. The USD won't go away and will likely remain a well traded currency. But the point is that the demand for it will drop, for various reasons including the US government weaponizing it, will force the Feds unable to print money without causing a local hyperinflation and flatten the US economy. It will also cause borrowing costs to spiral upwards, forcing the US government to have to make cut backs and bringing it to its knees, hopefully neutering the imperialistic military.
Americans will either have to tighten their belts a lot, increase their efficiency in using their money to produce REAL value (military, finance, healthcare spending are not real valuable things) or they finally revolt and change their system that actually can deliver prosperity without exploiting other people and stealing the value they produce, which is exactly what using USD for international trade does.
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