RE: China Starts Ditching Dollar ~ News with Rick Sanchez … (Death of the Dollar–28) with Video
Dear @majes.tytyty
Another interesting piece. Solid read.
I must admit that initially I've been quite shocked to hear that news. However when you think about it - this is the best time for China to carry on with their vision without having to be afraid of USA and EU pressuring them. Since we're all busy with our own problems.
It's obvious that they will take this opportunity to try to turn things around globally. We're surely living in "interesting" times.
Assuming that china would like to take role of global currency "printer" - the problem China faces is lack of trust. They have lost it and to rebuild trust - it may take another generation. I think most countries will still consider using USD as an "lesser evil" (meaning: less risky and less uncertain).
However days of USD are surely numbered. Hopefully it won't collapse during our lifetime. This would destroy lifes of so many. Probably our lifes would be affected greatly as well.
ps. I can't stand watching George Galloway. He is very one sided person and he doesn't even try to look at different facts from different angles, which would allow to understand issues better. Very strong opinions - that's his trademark. I stopped watching any interviews with him.
Upvoted already :)
Enjoy your weekend, Piotr
Regarding the "lack of trust" in China, who do you think does not trust China? From my perspective, it's mostly the US that "does not want to trust" China. And certain of the US allies (such as Canada) fall in line.
But it seems that many other countries trust China. With its Belt and Road initiative, China has fostered plenty of goodwill around the world. (Whether that goodwill and trust are misplaced is another story.)
As for George, I still watch him. I agree that his opinions can be "very one-sided," but the way I see it, he's a decent antidote to all the nonsense in the mainstream media.
Thanks for the upvotes! Hope your weekend and your year are going well.
Hi @majes.tytyty
Ehm. I would say that entire europe doesn't trust China. Probably many other countries do not trust them too. However it's important to say: I'm not talking about trust towards Chinese people, investors or businesses. I meant: chinese authorities and their complete lack of transparency.
I cannot think of many countries, which would trust to use Chinese currency as a reserve currency. For same simple reason: total lack of transparency and many times proven that they may abuse any economical agreement for political reasons. Even US administration have some limits. They do not.
Cheers :)
Piotr