The SWIFT system a abolished in favour of another better system perhaps the Quantum Financial system is our new world. The acronym BRICS stands for the countries of Brazil, Russia, India, China and South Africa. Countries Moving Away From Dealings With The US Dollar. Too many leftist idealist that really have a failed clue on just about everything OMG! The thoughts that are put into the minds of men that are aware of what is occurring on trading floors all over the world is when? Countries worldwide are dropping the US dollar: De-dollarization in The list of the 23 countries which are creating new swap lines outside of the dollar include China, Russia, India, and surprisingly, Germany, France, and the United Kingdom. This has nothing to do with a global conspiracy to dump the dollar. As the name suggests, dedollarisation is a term that refers to the process wherein countries tend to reduce their reliance on the US dollar as a reserve currency, medium of exchange, and also a . Then, South Africa took the helm thanks to the massive discovery in the Witwatersrand Basin, now regarded today as one of the worlds greatest ever goldfields. This is because Kenyas dollar reserves are running low. It is followed by the Euro as well as the British Pound which are also used globally. Firstpost - All Rights Reserved. Major foreign holders treasury securities U.S. 2023 | Statista Chinas media network CGTN reported, The deal will enable China, the worlds second-largest economy, and Brazil, the biggest economy in Latin America, to conduct their massive trade and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the dollar. But they are failing to recognize the fact that in the past the immigrants went through the legal process and like today where they just crossed into our country illegally! Russia and India agreed to use the Asia-focused Dubai oil price benchmark in their bilateral trade. I wish these stories had clear dates.. Knowing the story date, dates on any updates, and date the agreements were signed; and the dates the agreements will go into effect by the mentioned countries in the story is important. Money Market Funds/Accounts. Countries in Southeast Asia are also de-dollarising. Follow us on Facebook, Twitter and Instagram. Barbados. April 14, 2014 By American Contractor. President Nixon ceased the direct convertibility of U.S. dollars to gold in 1971. As per a Reuters report, Buenos Aires said that it aims to pay $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly imports will be paid in yuan. A CDBC will also better track proceed of crime which is problematic with paper currency. It is important that our national currencies are increasingly used in bilateral trade, Putin said. A Bloomberg report quoted Malaysias prime minister Anwar Ibrahim as saying, There is no reason for Malaysia to continue depending on the dollar.. [59], In January 2023, Russia and Iran were planning to trade with gold backed cryptocurrencies as an alternative to US dollar. [32], In December 2015, the Kazakhstan government and national bank announced plans to reduce dollar dependency and strengthen the national currency. Why These Countries Are Dumping U.S. Treasuries and What It - RealMoney ", "The rise and fall of the dollar (or when did the dollar replace sterling as the leading reserve currency? Moreover, it doesnt seem to be a longterm viable option. BRICS was formed back in 2006, and the original group did not include South Africa, which joined in 2010. I just wish people had common sense and could figure this s**t out! According to the news website ASEAN Briefing, at the top of their agenda were discussions to reduce dependence on the US Dollar, Euro, Yen, and British Pound from financial transactions and move to settlements in local currencies. In June 2019, it also reduced the usage of a multicurrency system and preferred to switch to the US dollar. He argued that Indonesia needed to shield itself from geopolitical disruptions, citing the sanctions targeting Russias financial sector from the US, EU, and their allies over the conflict in Ukraine. at any given spot go back to say late 1800s 96% of the population of america lived at poverty level and; then; if you look at census 85% of the population was born on the land never did immigration ever exceed 15% of the population. [65], As academic Tim Beal summarizes, many commentators view the United States' overly broad imposition of financial sanctions as a factor increasing dedollarisation because of responses like the Russian-developed System for Transfers of Financial Messages (SPFS), the China-supported Cross-Border Interbank Payment System (CIPS), and the European Instrument in Support of Trade Exchanges (INSTEX) that followed the United States' withdrawal of from the Joint Comprehensive Plan of Action (JCPOA) with Iran. [6], The value of the U.S. dollar was therefore no longer anchored to gold, and it fell upon the Federal Reserve to maintain the value of the U.S. currency. one more ignorannt fromw est who cant understand that the shifintg of wealth was already eneterd in the mid of operation and now the shift of geopolitical ballance is inteh makeingall started in 2008 with GFCand it contiune with us bailing put teh corporations and the printing of money like ios no tomorow.How do you want to keep the dominance in the workd when the money u printed have no backing of some comodities..BUT the most idiotic thing that bring us in this moment is the over use of sanctions to the US oponents and to the countrys that do not bent to US willwhy we should suport ignorants like you to live a life in a stile of grandor that is payed by the rest of the worlswhy should my country pay for US debt???? Ranked: The Top 10 EV Battery Manufacturers, Visualizing Chinas Dominance in Rare Earth Metals, All the Worlds Metals and Minerals in One Visualization, All the Metals We Mined in One Visualization, How the Worlds Top Gold Mining Stocks Performed in 2020, Peak of supercycle from long-term trend (%), Trough of supercycle from long-term trend (%), Length of cycle from trough-to-trough (years). Most people just want to make a living and take care of their families in all countries! Where are Clean Energy Technologies Manufactured? China and Russia in recent times have pushed more aggressively to unseat the dollar. As of April 25, gold prices were hovering around the $2,000 per ounce mark and nearing all-time highs. US Dollar Share of Global Foreign Exchange Reserves Drops to 25-Year Low )", "How a 1944 Agreement Created a New International Monetary System", "Sanctions Programs and Country Information | U.S. Department of the Treasury", "Controlling Inflation: A Historical Perspective", "Measuring Worth Purchasing Power of Money in the United States from 1774 to 2010", The Stealth Erosion of Dollar Dominance:Active Diversifiers and the Rise of Nontraditional Reserve Currencies, "China Prepares Death Blow To The Dollar", "Beijing-Riyadh cooperation advances de-dollarization process", "WSJ News Exclusive | Saudi Arabia Considers Accepting Yuan Instead of Dollars for Chinese Oil Sales", "China's Xi calls for oil trade in yuan at Gulf summit in Riyadh", "China's attempt to challenge the USD's dominance as Xi Jinping calls for oil trade in yuan", "China defends Ukraine war stance, aims to deepen ties with Russia", "Four European Gas Buyers Made Ruble Payments to Russia", "Four European gas buyers made rouble payments to Russia -Bloomberg News", "Ghana plans to buy oil with gold instead of U.S. dollars", "Ghana plans to buy oil with gold instead of dollars", "Putin and Erdogan agree to boost cooperation, some rouble payments for gas", "Gazprom says it has signed deal for China to pay for Russian gas in national currencies", "Value of Russia-China energy trade up 64%, deputy PM says", "Explained: Putin's demand for trade in rubles, and how it could work", "Saudi Arabia Open to Talks on Trade in Currencies Besides Dollar", "Saudi Arabia just said they are now 'open' to the idea of trading in currencies besides the US dollar does this spell doom for the greenback? Thats how easy your folks had it in the past. The unilateral sanctions the United States has imposed on countries all across the planet, in flagrant violation of international law, are backfiring. The United States Department of the Treasury exercises considerable oversight over the SWIFT financial transfers network,[4] and consequently has a huge sway on the global financial transactions systems, with the ability to impose sanctions on foreign entities and individuals. No offense but I have to call you in idiot because I called them as I see them. . You need to get rid of the programs that govt is supporting for immigrants. Allowing anyone to come through? This is a frontal challenge to the US-dominated International Monetary Fund (IMF), which emerged from the 1944 Bretton Woods Conference that established the dollar as the global reserve currency. The views expressed are those of the author(s) and do not necessarily represent the views of the IMF and its Executive Board. As these other nations de-dollarize what it will do is remove the power of the Deep State to use the U.S. Dollar as a weapon against the rest of the world. IT WAS NOT EASY DOING ALL THE RESEARCH TO GET THE GLOBAL MO IES FOR PEACE WHICH WERE IGNORED BY POTUS CLINTON/BUSH/OBAMA/BUSH JR AND TRUMP /PELOSI/ KENNEDYS AND EVEYONE IN THE WORLD AND US GOVERNMENT WHICH WOULD HACE STOPPED THE LATEST CHINA GLOBAL MONETARY ATTACK IN DISGUSE OF A PANDEMIC- MURDER IN DISGUISE AS THE ROCK-N-ROLL PROPHET LEMMY KILMISTER OF MOTORHEAD FORETOLD IN HIS SONG: LOVE ME LIKE A REPTILE !! Meanwhile, South Africa produced 110 tonnes of gold in 2022, down by 74% relative to its output of 430 tonnes in 2000. It may be replaced by different currency that can be backed by the productivity of her workforce. Protect your wealth my friends. This means that the Eurozone itself is abandoning the dollar, and preparing for transition to a new central banking system.
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