Comments by "" (@orboakin8074) on "De-Dollarization Does. Not. Matter." video.

As a Nigerian, i will tell you straight that de-dollarization is not going to happen within any of our lifetimes😕 It's the world's reserve currency for a reason. Most countries, evwn hostile ones like Russia and China, prefer US dollars because of guarantees and trust in the American economy compared to theirs. Even us here in Africa. Plus, America spenda a lot and lets thw dollar float in the market to make it more attractive to others. No other country can do this.
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@Anedoje the issue in our country with the dollar was that for decades, our government foolishly kept subsidizing the foreign exchange rate instead of letting the Naira float from the start. This then led to massive debt built-up and over reliance on imports in our country. It was not sustainable. Dollar didn't cause it. Our inept governments (past and present) did. It's only recently that we have finally ended such subsidies and let the Naira float. Of course the impact was terrible with bad inflation but it was going to happen regardless. Besides, dollar is still preferred because it's cheaper and more readily available than others like Euro or Pound sterling.
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@rtmclean484 well, no. The pound stopped being a global reserve currency because British empire ended, Great Britain and much of Europe de-industrialized after WW2 and because their economies aren't as large or strong enough to float their currencies on that scale. America has no such issues currently and will remain the global reserve for a long time. This will change but not for long while.
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@antixocialman sorry about that. Some people just want to be a-holes for no reason
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@skyisreallyhigh3333 well, simple. Other currencies like the pound sterling occupied this role and even before global reserve currencies, gold was a universal store of wealth. Not to mention, global reserve currencies only became a major thing after globalization and mass industrialization started 😕
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@lastnamefirstname2390 okay, explain. Please.
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@meilinchan7314 true. Thankfully, it's not as strong as the pound or euro. Much of American manufacturing might be offshore to China, Mexico etc but a good deal still remains with them and gradually some is returning.
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@oldluke7653 it won't matter😕 Sorry, but considering how elections and politicians like Clinton, Nixon, Bush (both), Obama etc didn't alter the dominance of the dollar, it's fair to say that the US stock market and wider global economic impact and trust is not solely based on which person is president.
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@500ccRabbit if it's any consolation, those damn "princes" scam us here more than you folks and we usually have little to no restitution. Funny enough, we are now seeing Chinese and Indian hackers join them in the fraud here🤣 We are losing our own scam grift to the good fellas in Asia.
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@logician3641 no? Where did you get that idea? No, the IMF and World Bank suggested economic reforms like letting our currency float, ending the decades long oil subsidy that drained our economy, consolidation of bureaucracy and further privatization of industries and taxes reforms. It resulted in economic hardships but has also resulted in positives.
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@mohammadpauzimushif584 um, what are you talking about? My country's currency is weak against the dollar simply because our economy is still a developing one with inflation, no other reason. Heck! Our government used to spend ridiculous amount on subsidizing the foreign exchange and now we have high debt. The dollar didn't cause that. Our mismanagement did.
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@ponytoast1231 good observation, friend. It's true that the Euro is a strong currency and the EU are certainly on the trustworthy side. It's also one of the other preferred reserve currencies used here in Africa but the euro is also not nearly as widespread in circulation as the dollar. Plus, the dollar is slightly cheaper than the euro. Finally, while Europe is also a strong economic bloc, it's not as big compared to USA or China but they have been making reforms to re-industrialize and this could change that.
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