De-Dollarisation News, Updates and Discussions

[ezsasa]

Countries are increasingly seeking to reduce their reliance on the US dollar. Examples include China and France's yuan-settled LNG trade, Russia turning to China's yuan amid geopolitical tensions, and China and Brazil's deal to trade in their own currencies.

starting this thread since it is in news now a days, at this point in time we don't know for sure if it is really happening or if it is just a narrative. so might as well keep an eye on it.

 

[ezsasa]

Malaysia's PM says there is 'no reason for Malaysia to continue depending on the dollar', adding China welcomed talks about a potential 'Asian Monetary Fund'.

 

[ezsasa]

US Senator Marco Rubio on #Brazil getting around the #Dollar:

"We won't have to talk about #sanctions in five years because there will be so many countries transacting in currencies other than the Dollar that we won't have the ability to sanction them".

 

[Butter Chicken]

India-Malaysia trade settlements in Indian Rupee (INR) become effective from today.

Exporters and importers from Malaysia and India can now carry out their transactions in Indian Rupees(INR)

. .

 

[The Juggernaut]

One month old news.

Singapore residents can transfer money to India through UPI from today: What this means

India ties up with Singapore for its first real-time overseas payments link

India and Singapore launched on Tuesday a real-time link to facilitate easier cross-border money transfers between the two countries, the first such for the South Asian nation that is the world's biggest recipient of remittances.

www.reuters.com

India ties up with Singapore for its first real-time overseas payments link
MUMBAI, Feb 21 (Reuters) - India and Singapore launched on Tuesday a real-time link to facilitate easier cross-border money transfers between the two countries, the first such for the South Asian nation that is the world's biggest recipient of remittances.

Transfers of funds between the two countries will now be possible using just mobile phones due to the tie-up between India's Unified Payments Interface (UPI) and Singapore's PayNow facility.

 

[The Juggernaut]

 

[ezsasa]

how is this related to de-dollarisation topic?

 

[Samaritan]

The era or bilateral relations is coming and WTO will slowly become irrelevant . The Ukraine war , who wins is now not important , but US has definitely shot in their foot. The weaponization of Currency and payment system alerted all the nations and they started thinking about it in advance. This has resulted in trade in their own currency. Still it will not replace USD as main currency for base of calculations but circulation will reduce.
If Asian countries manage to put up new currency or BRICS go for one , then it will kill dollar.

 

[ezsasa]

"US Dollar is the biggest financial terrorist in the world," says Uday Kotak, MD and CEO of Kotak Mahindra Bank

 

[shade]

Argentina govt to pay for Chinese imports in yuan rather than dollars By Reuters

Argentina govt to pay for Chinese imports in yuan rather than dollars

www.investing.com

Indonesia follows BRICS' lead, ditches dollar for local currency

BRICS nations have been ramping up de-dollarization efforts to use local currencies in settling international trade and reduce dependence on the US dollar

www.firstpost.com

It's ironic that muh only supapowa in da world muscle flexing is causing the world to become more multi-polar

A wide variety of countries are experimenting in paying for import/export in non-dollar currencies

 

[Johny_Baba]

Reminder that original idea of BRIC was given by GOLDMAN SACHS, an american firm with jewish overlords

so i bet these so called de-dollarisation and all must be happening with some level of acceptance by the U S of A

 

[shade]

Reminder that original idea of BRIC was given by GOLDMAN SACHS, an american firm with jewish overlords

so i bet these so called de-dollarisation and all must be happening with some level of acceptance by the U S of A

Having Yuan as the "other" global currency is a scheme of the jewish overlords
I mean how can you have a good sequel to the cold war with all countries still using a single green currency?

 

[FalconSlayers]

 

[AnantS]

if South korea doing... be sure de dollarisation is plan blessed by us of a. Another solid step towards G2.

 

[ezsasa]

if South korea doing... be sure de dollarisation is plan blessed by us of a. Another solid step towards G2.

but this is not the first time, similar conversations must have when euro was adopted.

two things are happening in parallel.

FED has been increasing interest rates to control excess liquidity in the market, idea is that excess money either comes to banks or FED.

and this supposed de-dollarisation, theoretically when countries reduce trading in USD and reduction in forex reserves. so where will all this USD go, back to U.S?

 

[Johny_Baba]

real dedollaisation will happen when countries decide to stop trading in hard currencies even of their owns and go full gear on Barter System; like seriously if they are still playing one bank vs other // one currency over other it's basically playing in hands of banks only and short/long term results would still be same

 

[AnantS]

but this is not the first time, similar conversations must have when euro was adopted.

two things are happening in parallel.

FED has been increasing interest rates to control excess liquidity in the market, idea is that excess money either comes to banks or FED.

and this supposed de-dollarisation, theoretically when countries reduce trading in USD and reduction in forex reserves. so where will all this USD go, back to U.S?

Actually I dont see dollar trade ending. What happening is dollar shall be ceding space to Yuan. All talks this or that country looking alternative to Dollar using its own local currency - has no meaning if not backed very strong manufacturing base. Yuan has those credentials.

Regarding Dollars being returned to US. I think that shall depend on what US wants. US MNCs shall be profiting from fall in dollars. Whatever international revenue they earn outside us (in Euro or Yuan) shall be converted into more dollars. INflation shall increase for US consumers, but shall be more easy for Govt to shove the plan of re industrialization on its fatcats. I dont think any country shall be able to dump dollars without approval of US,

 

[Tshering22]

Did any of you get this? Apparently, France asked to be invited as a guest to BRICS summit

Macron asks for Invitation to BRICS summit

France wants to desperately catch on to the new growth markets and present itself as a new, amicable face of the Western world. Germany is already toeing the line and has cooled down a little from its earlier position.

This is big!

 

[Tshering22]

China is inducting members left, right and center while we are doing nothing. Sure we are defining the criteria for formal membership, but we also need to reach out to prospective leaders.

Brazil and China are doing all the heavyweight lifting, while we are just doing bilateral meetings.

 

[tsunami]

OK these views on De-dollarization are more like dooms day scenario but please give you points.



Ankit Shah have written books and predicted de-dollarization 3 years ago and he did predicted banking crisis in west.