Comments by "DrScopeify" (@drscopeify) on "Fed Chair Powell: Our status as the world's reserve currency is not under threat right now" video.

  1. The real threat to the reserve status of the USA comes form the EURO not China or Russia just have a look at what central banks hold around the world it's mostly Dollars but plenty of EURO as well so it's an issue. If EU wants to be a big player they need to also be willing to spend big money to act like the USA and have a large navy to protect the free open seas. If a country like China blocks the South China Sea the world trade falls apart and so the USA is willing to do what it takes to prevent that but EU is not and so if they want to be a world reserve on par with the USA they need to step up military spending not 2x or even 3x or 4x but 5x or more, they have budgets that are tiny like 1% or 2% these need to reach 8% or 10% to catch up with where they should be with large navy forces otherwise they are impacting the USA negatively and puts everyone at risk by doing so.
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  2.  @eljefe5858  Dollar is not going anywhere becasue #1 China cannot let control over the Yuan go to foreign hands as China is run by totalitarian system and so they need to always have power to manipulate the Yuan to maintain stability within China. Also if China wants to be able to go to war it needs to be self sufficient which means it cannot allow the Yuan to become a world reserve currency as that will weaken China. The main risk however is that if China loses the ability to manipulate the Yuan, it will no longer be able to pay off the Chinese people, and If you want to see what happens to China when the people become unhappy and poor, just look at history, "China was whole and then it broke" That is the thing that scare the Communist Party the most, China can easily break if the people are not happy they will burn down the CPC and cut off their heads. Xi Jinping is scared of the people of China coming to get him which is why he must always maintain control over the Yuan so he can make the people happy by manipulating it. #2 The USA is made weaker becasue it is the reserve currency, China has been manipulating it's Yuan for 50 years in order to make goods made in China cheaper to the world but if the USD is no longer the reserve currency then the USA can now manipulate it's currency to do the same!!!! You see? The USA will just begin to do what China did for last 50 years which will only strengthen the USA which traditionally is a global exporter and manufacturer in competition with China. The USA and China had mutual situation by working together for the last 50 years with China free to manipulate its currency which meant no Inflation in the USA and cheap goods to allow the USA to transform from Manufacturing to Technology and China from farming to Manufacturing. The new world order will see the USA move from Technology back to Manufacturing and then to War and China from Manufacturing to Controlled Economy and then to War. So both China and the USA will be set up in a position that leads to war. Not a surprise.
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