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zephyreks, 9 months ago to worldnews in De-dollarisation and Internationalisation of Other Currencies: Geopolitics and Implications for Dollar Diplomacy

The progress towards dedollarization reduces the reliance countries have on the US, which is good for their economies but bad for the US.

That’s a good thing overall.

Tosti, 9 months ago to worldnews in De-dollarisation and Internationalisation of Other Currencies: Geopolitics and Implications for Dollar Diplomacy

I understand countries wanting to have an alternative to SWIFT, even in geopolitics and finance, monopolies make everyone completely dependent.

The smaller BRICS countries run the risk of the larger ones manipulating their currency, and there are a lot of other competing interests. Will be interesting to see what they will come up with.

zephyreks, 9 months ago

That’s the entire point of dedollarization, though: options means that countries can switch to another option if one country’s currency isn’t reliable

taanegl, 9 months ago

SWIFT will have to be broken up, where one becomes a European only with the EURO as it’s trading currency.

I’d wish we could decentralise it even further, but that’s going to defeat the purpose, isn’t it?

I used to think SWIFT was just a transaction system, but we can see how economy on a global level is truly all about political power - ideals be damned.

The liberal dream truly is dead. Long live economic feudalism.

ShellMonkey, 9 months ago to worldnews in De-dollarisation and Internationalisation of Other Currencies: Geopolitics and Implications for Dollar Diplomacy

And here I distracted by how bad whatever AI made this messed up the $100 bill…

Frankly I don’t see how the USD has remained as anything resembling a stable international standard given just how focused we tend to be in immediate gratification and maintaining stock growth rather than long term investments.

zephyreks, 9 months ago

I don’t think they can legally defile actual money lol