The USD: What Is Going On With It Globally
Many feel that the USD is going to collapse due to money printing. The challenge is that too many people view things through the US eyes. This is a mistake.
In this video I discuss how the global usage of the USD gives it a great deal of insulation. This sets the table for confidence across the world. The fact that the currency has not been cancelled plays into this. Also the fact that the majority of physical currency reside outside the US.
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I think many Country's will follow Russia's example and de-dollarize to escape the grip of the U.S. There is a trend away from the dollar by the Brics nations too. I think you are right for a little while, no way it lasts to the 2050s as the global reserve currency. When the rest of the world wakes up to this Ponzi scheme they will get rid of all the dollars and they will come home and cause hyperinflation.
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The biggest problem I see with people saying the dollar will die is that there is no recognized reserve currency. Until there is a crypto or currency that is widely known and has the confidence of the people, it is unlikely to die. Other foreign countries know that they are printing money like crazy too, but they need to devalue their currency otherwise they can't get people to spend or buy their goods.
Overtime though, I believe a new currency will take it's place. Whether or not it is a crypto or not is unknown but I think it will something that fits the digital world more.
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Summary:
In this video, the speaker discusses the misconception that the US Dollar is in danger due to rapid money printing by the United States. He highlights that several other countries, including the ECB, Canada, and Japan, are also heavily involved in money printing. The speaker emphasizes that while many believe the US Dollar is on the verge of collapse, its global influence and status as the world's reserve currency contribute to its stability. He points out that the demand for the US Dollar is significant globally, with a large portion of international transactions and debt denominated in USD. The speaker stresses the importance of viewing the US Dollar macroeconomically and from a global perspective to understand its enduring value.
Detailed Article:
Taskmaster4450, in this video, delves into the common assumption that the US Dollar is at risk due to the substantial money printing efforts of the United States. He challenges this notion by highlighting that various other global players, such as the European Central Bank (ECB), Canada, and Japan, are also actively engaged in money printing, thereby indicating a widespread practice rather than a unique issue of the US Dollar. The speaker argues that the US Dollar differs from other fiat currencies in terms of its historical stability, as it has not faced cancellation or devaluation for over 150 years. This unique aspect, according to him, contributes to the global trust and preference for the US Dollar.
Task discusses the global significance of the US Dollar, emphasizing that it is not solely dependent on the US economy but heavily influences the entire global economy. He points out that a vast majority of international transactions are conducted in USD, and a significant portion of global debt is denominated in US Dollars. This status as the world's reserve currency makes it easy to issue debt against the USD, further solidifying its prominent position in the global financial system.
Moreover, Task underlines the crucial aspect of the US government's commitment to honoring its debt obligations, reinforcing trust in the stability of the US Dollar. Despite concerns about the increasing levels of debt and money supply, he expresses confidence in the US government's capability to preserve the integrity of its currency and debt repayments. The speaker urges viewers to analyze the US Dollar from a macroeconomic and global perspective rather than solely focusing on domestic indicators, stressing the currency's enduring demand and utility across various regions globally.
In conclusion, Taskmaster4450 highlights the entrenched position of the US Dollar as a preferred currency in many nations worldwide, underscoring its global relevance and influence. He sheds light on the intrinsic strengths of the US Dollar, such as its historical stability, widespread acceptance, and significant role in the global financial system. The speaker urges a broader perspective in evaluating the US Dollar's status, emphasizing its resilience and continued relevance in the face of economic challenges and global dynamics.