China is actively de-dollarizing, but does that mean they are after the world reserve currency status? We have bold claims from Dr Doom, Nouriel Roubini, that the world will see a bipolar currency system where it will be the dollar vs the yuan. However, is this true and does it even make sense for China to fight with the US to be the world reserve currency? Here’s what you must know!
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✅ Timestamps & Chapters:
0:00 A New Reserve Currency?
1:33 Fiat Currencies Are Doomed
3:43 Stealing Market Share
6:07 The Reserve Currency Curse
8:26 China’s Real Agenda
10:46 China’s De-Dollarization Moves
13:22 How About A Gold-Backed Yuan?
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35 Comments
China will shift the reserve currency status by diverting it to gold, so whoever currency is pegged to gold, can then divert the burden of world reserve currency to gold, hence why gold standard is important. Any currency pegged to gold, can be used for trade, and spreads the reserve status to multiple currencies
We are waiting for the restoration of Gold Monetary System.
russia have 11000 sanction.
That is why the world should take a stand and adopt a global currency from a govt that is fair and nonbiased. Anybody consider the Indian Rupee?😆😆😆
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The problem with the statistics shown is that they only reflect transactions that go through western banks and financial system. Most renminbi transactions are directly done with Chinese companies which are outside and invisible to the western banking system. It is estimated that renminbi transactions are actually three to five times larger than what is tracked by western financial system.
I think China is just trying to creat an alternative to the $ because the US is an unstable business partner that has been playing dirty , even stealing other partners assets as we have seen with Russia recently for example. So I dont believe China want to be the one and only but want to protect itself from what really is a clear and presant danger by creating a currency or a form of safe trading and business practice so that they can prosper without anyone trying to steal or manipulate them. They are just covering themselves and are rufusing and or are unwilling to hand thier money / assets over to untrustworthy handlers who can use it against them.
Who wants to invest in debt
Thank you Sean for sharing 😘 You are right Chinese are not interested in controlling but rather as an alternative to hedge against the mafia dollar sanctions
US proved they were willing to fight any war, destroy any nation, kill as many innocents as it necessitates, just to protect the dollar and American Hegemony.
The conflict with Russia right now, soon the conflict over Taiwan, The shady politics in Brazil, Israel's targetting of Iran to stop them from making nukes, the politic of destabilization in the Maghreb where you have Israel and the US using Morocco to destabilize the region … All of it in no coincidence, it's the US playing its cards early to have the upper hand in case wwIII breaks out.
China is looking to promote bilateral trades among the emerging economies and the gulf states using their own currency instead of the US dollar for the medium exchange of goods and services. This will potentially take market share away from the US dollar and into the Chinese Yuan. This strategy mitigates the risks of the US enforcing sanctions on certain countries like Russia and China.
Why must it be that when China take over from a merica …China has to be the American copycat? CHINA IS UNIQUE….and kind …progress orientated….and does not NEED to TRADE IN HUMAN BLOOD…or HUMAN SOULS…like ameri.ca has done and will continue to do as history PROVES….China does not have to be war- country- sanctioning CRAZY COLD-BLOODED MURDERING SNAKE like ….america. China has their own style and frankly we believe that China will be a million times a better, more prosperous, peace-loving and fair country then amer ica will EVER and NEVER be. 中国がアメリカから引き継ぐとき、なぜ中国はアメリカの模倣者にならなければならないのでしょうか? 中国はユニークです….そして、人間の血を取引する必要はありません…または人間の魂…アメリカが行ったように、歴史が証明するように、今後も行います… MURDERING SNAKE みたいな….アメリカ。 中国には独自のスタイルがあり、率直に言って、中国はアメリカよりも 100 万倍も良く、繁栄し、平和を愛し、公正な国になると信じています。
No, China doesn't want to the World Reserve currency. They simply want to be the dominant power that can maintain control over their own nation and economy. They want hegemonic control without the dangers posed by having the world's reserve currency.
A great report mate ,
China is far too smart for America 🇦🇺
De-dollarization does not mean RMB is the replacement… MULTIPOLAR reserve currency.
RMB is the payment currency. Gold is the reserve currency. Gold is the dollar killer. RMB does not need to be the reserve currency. But if the USD loses its global reserve status, it will hyper-inflate.
Ofc, I agree with you, Sean. There is a lot of risk to having the RMB as the reserve currency of the world when you do not have a military that is able to beat the hell out of any foreign country who might try to attack your currency via speculation attack on your currency outside goods and services trade-activity needs. However, if the RMB is backed by gold by, say, X% percentage (i.e. partially convertible to gold) of the precious commodity (in this case, gold metal), then the issuer of the currency is essentially promising that it will never devalue its currency to a level beyond what the currency is represented by the percentage of gold.
So, since everyone knows that the amount of business activities that is going on in the world is much greater than the amount of gold present to be back by all the currencies issued by all reserve currencies, it is impossible to go back to the era of any reserve currency being fully back by gold. However, a 100% fiat currency is not at all constrained by the issuer to inflate away its debt by printing more IOUs, eg. the USD. Hence, if any country is willing to partially back its currency for use as a reserve currency backed by gold, it is basically promising to pay back to the creditor holding the currency at the very least, the amount of gold which represented the percentage of the currency backed by gold. For example, when Saudi Arabia sells oil to PRC and receive the payment in RMB, even if China issues more RMB into circulation (similar to the USD today), Saudi Arabia can request at the very minimum, the amount of gold which the Digital RMB is backed. Unlike, the USD today, which is 100% fiat.
Any nation could have backed its currency by a valuable commodity, say uranium, oil, wheat, rice, platinum, lithium, etc., but they are all perishable (or subjected to loss due to its degradation/irreversible contamination/tainted/loss in the process of revitalization/refreshing, unlike gold, which has been used since ancient times, because it is practically imperishable (in storage and transportation), and even if smelted down and remoulded, it is 99.99999% recoverable.
A very pragmatic view point, now to find a way to invest successfully in this environment is quite challenging. Thanks for the video, enjoyed it a lot. Value content, thank you Sean.
Please tell me why the Iraqi currency has depreciated against the US currency. What are the reasons??
Gold is coming back and China will lead the way!
American propaganda is hyping hatred towards China by saying things like China wants to rule the world while they’re the ones bullying every other country including China. The USA says china is threatening the USA militarily while they’re the one having 800+ military bases around the world and more than 200 of them surrounding china and China has only one base in Africa.
Tiada lah,usd rising again,this a western tool,you will never won,mark my word
According to Islam gold is the only viable currency, fiat currency is fictitious and it is kufr.
Could t be sooner? Would be great
The USD is a Ponzi scheme. It will inflat as is happening now without regards to the effects other countries as seen today of those who follow the US system like Vietnam and India and the EU. They'll help to subsidize the US at their expense
I agree with Sean’s view about how the USA and how china use their money currency differently.
The USA uses it a tool to maintain hegemony while for China uses it for trade.
Interesting Sean. My take is the disappearance of the reserve currency and for trading purposes different countries would demand for their own cuurencies to be used. Gold on the other hand will play a more pivotal role in the absence of the world reserve currency.
To dollarized is the best way..
Never believe an ang moh economist. They're seldom neutral, so their thesis, theories are often tilted with their belief. I totally agree with Sean, that China simply just wanted to de-dollarize, and not replace dollar status. It'll be a new form of monetary and reserve system.
Every currency should have equal value by determining how much fiat will every country hold depending on how much money they have on hand at the time of a reset
Rather than using the term de-dollarisation which may lead one to the misconception that the USD is going to be “dethroned” which it never will, we could perhaps refer to this BRICS movement to move away from the USD “monopoly” as finding an alternative international currency not unlike the Euro currency?
It is true, china increasing swap facilities in yuan with many countries
Totally agree. The CNY debt market doesn't even have the depth for it to be a major reserve currency.
Chinese are wise. It lets the stupid West use their projections to keep on shouting against China "domination" while they quietly observe the West shooting themselves in the foot stomach and so on. They know where their interest lies. Oh BTW China is using the useless USD to finance the BNR. Putting useless USD to good use 😂😂😂
Dump the FEAT Pop the gold!