/biz/ - Business & Finance

try to issue alternative currency in the US, see what happens
>source
countries have been trying that since forever, it will eventually work but not now

>>53040061

Didn't Libya get invaded for trying to make a gold backed currency in Africa?

Why doesn't that happen to all the countries not using dollars now e.g. India, South East Asia, China, etc.

>>53040061
>what is crypto

>>53040051
>What changed
Maybe it has something to do with the massive amounts of M2 that were created in 2020? Also it's obvious the dollar has just straight up outlived its usefulness as an international currency, now that countries are realizing we can use the dollar to offload inflation onto other countries using interest rates.

>>53040086
Libya was invaded because they planned to exclusively sell oil in a gold-backed currency.
The problem isn't necessarily using other currencies within another country (especially if it's established), but the US can't afford international trade to move away from dollars.
They would've been allowed to use their new currency domestically as long as they kept using dollars for selling oil.

>>53040051
Nostalgic for the old bills

>>53040086
>>53040137
libya was invaded to fuck up europe and pan-africa, ghaddafi was also a loose end for sarkozy (who intervened in his election) and for clinton (who fucked up hard with benghazi). the gold thing was very low on the totem pole of reasons, but it's a great psyop nonetheless because it plays into the narratives people have been trained to believe

>>53040051
The would is going to turn on the US in our lifetime.

>>53040191

Oh ok so no one got hurt by trying to replace USD. That is good to know.

> straitstimes.com

are you in Singapore & browsing biz during lunch?

because I'm doing the same thing kek

>>53040051
What countries are even using an alternative to the USD right now anyway?
>North Korea
Effectively Dollarized due to worthless currency.
>Cuba
Technically pegged to the Dollar, currency is worthless in practice.
>Iran
Currency is worthless, the Government doesn't even use it.
>China
Loads of restrictions on Yuan Convertability.
>Russia
US is fighting a proxy war with them and will probably enter the war themselves in a few months.

>>53040218
not for that reason, no. USD has demand because of debt, the US has power because of interest, that interest is enforced through economic blackmail, and force is applied when they fuck up

>>53040051
things aren't working out long term, we knew the US was untouchable back then and anyone who dares to be a challenge against them would be put down, fast

not anymore after all of what we've been through in the past decade

>>53040228

No. It is old news btw, I just saw it in a Youtube channel.

>>53040240

It is regional bilateral agreements according to OP article.

India and UAE using rupee for oil.

Malaysia, Indonesia, Singapore and Thailand have set up systems for transactions between one another in their local currencies rather than the US dollar

Taiwanese can pay with a QR code system that is linked with Japan.

Bangladesh, Kazakhstan and Laos were also stepping up negotiations with China to boost their use of the renminbi

Dollar-denominated bond sales by non-financial companies have dropped to a record low of 37 per cent of the global total in 2022. They have accounted for more than 50 per cent of debt sold in any one year on several occasions in the past decade.

>>53040251

Dollar-denominated bond sales by non-financial companies have dropped to a record low of 37 per cent of the global total in 2022. They have accounted for more than 50 per cent of debt sold in any one year on several occasions in the past decade.

So I doubt that dollar debt backed dollar strength argument will work well going forward.

>>53040251
God I hate the US. And I hate how many other Americans support us doing proxy wars just to keep economic power, it's disgusting. I hope the mask slips.

>>53040051
Kek
>el petrodollarino meme

>>53040240
If countries dump the dollar there's going to be a new wild west of everybody scrambling to different currencies sure, but after everything shakes out I think there will be several competitors to the dollar. In fact if Russia/China start dealing in rubles/renminbi then that'll likely force them to take more humanitarian political policies and actually stand by them.

>>53040061
>not now
The Fed screwed over the rest of our "allies" with their interest rate hikes, I don't blame them for wanting to not have to go through another recession because of our terrible monetary policy again. This is probably it since unlike 2008-2009, this one will last years and years since they just confirmed another few trillion will be printed out of thin air right after inflation started cooling down slightly.

>>53040342

Dollar refugees are using currencies of their neighbors who help them become more self sufficient.

e.g. Countries which manufacture electronics are relying on countries that make food or commodities.

By relying on their neighbors they do not have worry about naval blockades due to wars in the oceans.

>>53040300
>So I doubt that dollar debt backed dollar strength argument will work well going forward.
correct, which is why smart money is looking for the door

>>53040086
>>53040137
im libyan and that's absolutely retarded
no, libya never even had enough gold to do that bullshit, we didnt produce enough oil to even pose a threat to anything
gaddafi was invaded cuz he went on tv saying he will kill everyone in a city that has 2m people (who already rebelled) and he didnt exactly have many international friends considering his history
t. was in benghazi in 2011
>>53040191
>for clinton who fucked up hard with benghazi
the attack in benghazi happened after he died
>>53040366
yeah the EU is trying its best to break from it, but it's gonna be hard and take a long ass time

>>53040212
i worry about this, and I wonder even if "making it" will help.

>>53040092
btc will go to zero when hal's wife dumps it unless the CIA decides to float it for the blackops and eth is the globohomo token

>>53040312
Kys hippie

>>53040218
sometimes I wonder if actually associating crypto with money is really a good idea, it can decay in the same way, but it's still weird
I guess I'll just stay as a spectator while I wait for my dext bags to recover

>>53040092
Shitty coins only make the US dollar STRONGER. I'm almost certain Bitcoin's "block wars" were a ratfuck and this is a wholly controlled space, a casino where only the poor get fucked.

>>53040051
1 million americans died of covid and most of them are white. white people are the only ones who would fight and die for jews

it's over

>>53040980
>im libyan and that's absolutely retarded
nice try, glowie

>>53040092
Literally usd proxy

>>53040051
Because you're lying to cope with the fact that nobody trusts China

>>53041610
somebody takes their finite amount of time on this earth to make a schizo pic like this. they actually have a schizo idea first too. and then they actually do it.

and then some other schizo saves the pic and names it birds.jpg. and then they find the pic on their drive and make a conscious decision to post it as an accompaniment to

> I'm almost certain Bitcoin's "block wars" were a ratfuck and this is a wholly controlled space, a casino where only the poor get fucked.

everything about this is so utterly schizo, it's art

>>53040051
It's too costly now.

>>53042717

Agree that nobody trusts China.

I am not lying.

>>53040086
Libya was easy picking. There is no way in hell the US can strongarm the ascendant powers to the East without backfiring spectacularly and they're well aware of it.

The US government was captured by an ideology which tells it that being strong is morally wrong

>>53040212
Who cares? We don't need any of you except Mexico and Canada. The rest of you can go fuck yourselves.

>>53040051
Ran out of white men to fight the wars, now women and niggers and spics need to pick up the torch!!

>>53043223
You are not wrong lmao. When pissed off veterans tell their kids not to join the zog army, this is what you get

>>53043223
Don't forget trannies, Uncle Sam says they will never be women.

>>53040086
All those countries have crippling bond crises brewing, they can attempt to move away but they're fucked if they stop accepting the greenback.

>>53043272
Make sure to vote for the draft for women.

>>53043272
Seeing recruiter's on /k/ trying and falling to guilt/trick/lie to younger millennials and zoomers to sign up gives me a sense of joy.
Also the inorganic memes they make, I wonder what's the criteria they have for making them?

>>53043272
Kek for me it's the tall guy with his head turned and holding back a laugh. Aren't the drill sergeants not allowed to yell at them anymore?

>>53040051
>I remember when USA used to invade or destroy any alternative to the dollar.
It's the opposite, you get economically sanctioned and blocked from using dollars internationally if you piss off the US.

>In the 90s, even Americans who tried issuing private currency were raided by the FBI.
You run into serious legal trouble when you're trying to make your money look like as if it were legal US tender to normies... that's the legal problem old goldbug scams ran into

>>53040394
>Dollar refugees are using currencies of their neighbors who help them become more self sufficient.
Why do you think any two countries are going to act mutually together and not try to win against each other on trade relations? The Eurozone is politically integrated and is still a huge mess and depends on America but countries with even loser ties are going to coordinate policies and not try to fuck each other over?