/biz/ - Business & Finance

every currency belongs to america

>>18263806
>Will Euro become a safe haven?
No, i hate these colorful gay money, i can't have a fucking national currency due to socialist cattle.
t. eurofag

I will rephrase the question:
Is there any reason to believe dollar will take other currency on a moon ride?

Selfbump, also... state of biz.
Can't anyone here even think of an answer?

>>18264594
If burgerdollar dies some random shitcoin is going to take its place.

>>18263806
fiat currencies will hyperinflate themselves into oblivion in an attempt to remain on par with the others, and as such all fiat goes to hell, while actual commodities all retain their value against them

>>18263955
No, the existence of the eurodollar guarantees other currencies will fail before the USD unless there is a world war or countries decide to default on their debt (and even defaults are deflationary and would lead to higher USD value)

Anyone else want to buy antique Spanish silver and gold? I know it's ridiculous and not very practical, but it would be an awesome feeling.

>>18263806
btc, eth and gold

>>18263865
This, ECB is broken and Eurozone doesn’t work, the architecture is just wrong
They give away dozens of billions for private corps at negative interest rates (basically free money) but cannot airdrop some for the emergency and small businesses
Yuropoors want back their national currency

All fiat currencies fail if the US dollar fails.

Then all the governments move back to a gold standard.

This thread is a Chinese psyop. US will always be #1 baby.

Unironically Korean Won is the next reserve currency

>>18264830
Sounds perfect!

>>18264856
Umm... no sweetie. The Fijian Dollar is the next reserve currency

>>18264850
this
US is always the worlds biggest baby

>>18264830
>All fiat currencies fail if the US dollar fails.

This right here. Although it won't be current crypto that takes it place, it will be some Federalized version that capitalizes on the blockchain to ensure no decentralized transaction ever takes place again.

>>18264850
Hasn't China been buying large amounts of gold the last couple years for an eventual switch to a Gold Standard for the Chinese Yuan?

>>18263806
The dollar is about to deflate before it inflates majorly.

There won't be a safe currency at that point, maybe BTC, because for all the shortcomings of the USD, every other currency is going Zimbabwe - tier compared to it.

>>18264830
>>18264916
Ok, but why? Where is the connection? I know currency used to be connected to gold via dollar, but after Regan took dollar off the gold standard forex appeared and nothing was connected to dollar anymore.
So how can dollar affect other currency?

China and Russa are too corrupt to ever take the spot
meanwhile Europe suicides itself constantly

USA #1 baby

>>18265093
currency = debt
why cant you understand this

Everyone in this thread seems to be confused. It is never a question of a fiat failing, and the world moving to a different fiat. Precious metals have always been the actual money, with brief interruptions of fiat before that particular fiat fails.

When the dollar crisis begins, only precious metals are money, in particular gold.

>>18265196
Ok, but euro debt is conected to dollar how?

>>18266055
countries hold debt between each other, devalueing a currency makes that nominal debt essentially usless to other countries since the currency its payed in is worth nowhere near the value of the debt. Now all the debt that that is denominated in that currency loses value. The more of that useless debt the country holds the more value their own currency loses since they depend entirely on THEIR debts with other countries being counterbalanced with the now useless debt that are on their balance sheet.

This is only a significant problem when the country holds a large portion of debt of another country obviously, and this is exactly the case with the US. China will be the worst off in this case since they are the biggest holders of US debts

>>18266425
Does it mean Euro can loose value even without overprinting it?

>>18264830
>Then all the governments move back to a gold standard.
so then back to just USD under a shiny coat of new paint
lmao

print vodka faggot.
everyone gona give wat yu need if you can get them drunk

>>18266756
yes, its current value comes from its offset as another countries debt. It has no value other than that, it is just debt

I’d be interested to hear someone’s take on the actual mechanisms of a transition away from the US dollar. Usually what we hear are sweeping generalizations like “the US dollar will die”, etc. How in a practical sense could the world move away from the dollar and toward something else like gold or silver? I’m also of the belief that cryptos are not a viable replacement for the dollar because they honestly have no intrinsic value other than being a unique string of characters that are limited in quantity. Those properties are no sufficient to be used as a currency IMO

>>18265185
>China and Russia are corrupt
>THE LITERAL STATE OF US politics

>>18263806
nah. once people lose faith in the DOLLAR, it'll be the end of FIAT currencies.
the rest have nothing stopping them from doing what the FED is doing right now either.

bitcoin was created exactly for these times. welcome your new reserve currency. though there's a chance gold will take the primary role first, because right now there are just a lot of boomers that can understand basic economy but can't understand bitcoin. but in 30 years time it'll all about that sweet BTC.
and if governments ban gold again, the digital takeover will happen overnight.

>>18263865
>t. low-iq eurofag
ftfy

>>18263865
>>18264819
national currencies couldn't hold up against the dollar. MAYBE denmark or the netherlands could pull it off, or france/germany (but they have control over the EUR anyways, wouldn't benefit them), but most countries would just de facto switch to more established currencies the moment the global depression hits.

>>18264819
and these central bank gibs, of "wealth" that can be printed indefinitely, won't work for long anyways. regardless who's standing behind the fiat.

>>18267836
all yurpoors are low iq anon

>>18266425
So if Japan devalues their currency, does that mean their debt to the US will also become useless?

Triffin’s Dilemma

look it up retards

Euro is dead as a currency because there's no debt sharing during times of crisis. Covid is making the euro shortcomings become painfully obvious and it's not clear whether the euro will even survive this year if Italian banks begin to implode.

>>18268543
Good point.

>>18268520
Thatsl's pre-Reagan times.

>>18268644
So
You didn't read it did you? Also, I'm guessing you're referring to Nixon i.e the Nixon great shock.

>>18268543
there shouldn't be debt sharing, each country is fiscally independent but thats also the problem. The euro made no sense from the start, you cant just share a common currency and let each country be fiscally independent. They should have change things when Greece went down, it was literally the perfect time to either opt out of the euro or force a fiscal union

>>18268848
>The euro made no sense from the start
this

>>18268848
I agree that the Euro made no sense in the start. Each country should abandon the Euro and start their own central banks so that they can fund themselves during times of crisis. But we're in the situation where southern europe doesn't have the capability because they are under the ECB and the only way to resolve the current crisis is through debt sharing. The US does it throughout its states and the eurozone needs to do it as well.

>>18264594
According to my calculations all other currencies will ramp up their hyperinflation before the dollar inflation. Get into dollars or pms first then get to assets from there. The weaker ones will start first and already have started. See Venezuela a year ago. Look at SA, Australia, Canada, and EU exchange rates now

>>18263865
>EU
>Socialist
Pick 1

>>18264830
Fiat currencys won't fail aslong as you have to pay your taxes in fiat you will need fiat and no country would willingly hyperinflate their currency

>>18268986
>Fiat currencys won't fail aslong as you have to pay your taxes in fiat

that makes no fucking sense

>>18268887
>start their own central banks
?
they have their own central banks, thats what I meant the ECB has no control over the countries independent central banks and they've been using their own central banks for deficit spending thinking the other EU countries will just foot the bill when debts accumulate, the problem now is that their own central banks are so burdened with bad debt and have so much on their own balance sheet that it is impossible to borrow any more, they have to borrow from outside and no one is lending because the deficit has gone out of control in these countries, This could have been avoided if the EU had a fiscal union and stopped the south european countries from borrowing so much, but they couldn't and now its too late.

>>18269081
You are mistaken. Their central banks have been taking over in function by the ECB. They need to be able to get in debt during times like these and they can’t because they’re central banks are gimped and they don’t have their own currency.

>>18269169
well yeah, they put a freeze during the crisis to protect the other EU members (because they share the euro) but before the crisis they were free to do what ever they wanted, thats how they went into a debt crisis in the first place

>>18263806
us$ is fine, kinda like jpy. i think buffett hedged cash in jpy too before stock sell off

>>18263806
>Will Euro become a safe haven?
def no

>>18267871
dkk is pegged to euro. thats the only reason it has not collapsed totally. even norwegian krona lost 20% just like that

>>18263865
Fiat currency is Socialist