did losing Iran war end the dollar and make treasuries worthless ?
>>62710386The thing is, the yields going up is fucking everybody up everywhere. People really, really shouldn't be using the dollar but it is what it is, they're all doing it. China i'm surprised by, they should have tried something a decade ago, they still seem to be struggling to get off the dollar. You would think them letting 700 billion in bonds roll off their books would have done more than it did as well. Tough time to be in the USA, even tougher time to be outside the USA. Good luck everybody
>>62710408China is addicted to the dollar because they have thoroughly fucked the Yuan keeping it artificially low for so long to neuter the world's manufacturing base. Everyone knows they're manipulating it to undercut its actual value. This was a practice that was called out as far back as Bill Clinton. The second the Yuan pops in value is the same second their industrial base unravels because they won't be the cheapest game in town anymore. They need dollars to be their currency that engages in world trade because no one would accept a currency that China can actively rug while they're trading in it. Now, do they need to use dollars *specifically*? No. You can see Russia wanting to put the ruble as a world trade currency but it's sabotaged by being Russian. You can even see the Euro trying to worm its way in a few places. Nothing has beaten the Dollar yet, as nothing has really challenged its authority until now. Really this delicate balancing act was unraveled only because nobody seriously believed that Orange Man would actually start an Iran conflict when all the powers were perfectly in balance just last year.
>>62710427winning by being the least worst
>>62710427they are absolutely fucking themselves by doing this... there's probably less than 900 million people in China now and the govt figure is north of 1.2 billion or whatever. Even India now admits it has a negative population rate and the fertility rate dove in the last decade because of the same phenomenon. we are living in an absurd time. Global population is predicted to fall by end of century... hasn't happened since the plague wiped out hundreds of millions nearly a thousand years ago. Everybody is about to go through it, i'd prefer doing it in the USA if i had a choice (i don't live in the USA though).
>>62710427I don't think there really is a big fiat alternative right now.The only alternative I'm seeing is tether, backed by fiat.It's a win-win for the banking industry. Old money is dying but new levers to keep the shit afloat.Maybe privacy coins. Heck, even russia, irans and probably China, when the person is high enough in state authority, takes orders in bitcoin.I think this next bullrun is going to get massive
>>62710427China hasn't relied on currency devaluation since the 1990s
>>62710719Commodities are the fiat alternative. The commodity that is most liquid and value-dense is gold.
>>62710474I'm more optimistic about it, I think the massive human growth of the last 80 years was just kind of a fluke brought on by riding the post-industrial wave for a few generations and was never meant to trend upwards forever. Going down to 5 or even 4 billion is not the end of the world when it was 2 when my dad was born.
>>62710386I was thinking something similar earlier today.How the USD and the petrodollar 'coexist'.How destroying the economy gets the U.S. out of the global banking system.Possibly back to a gold/silver standard.I don't know.Maybe its just wishful thinking and I'm not being realistic.
>>62711201I never understood the goldbug 'metal as currency' mentality when petrol exists. Petrol is obviously a better proxy for value than gold.
>>62712533Both are stupid . The $ is KANG
>>62710442China is a fucking smog filled shithole with a 0.78 TFR which is literally extinction tier, their minorities like Tibetans will end up breaking away simply because there will be 20 million tibetans in 100 years and only 500 million chinese half of whom will be over the age of 50.Why the fuck is the internet constantly spammed with these delusional "chyna numbah 1" posts when they're obviously reliant on stealing western tech and lying about itStop lying or we'll cut your little cocks off and feed them to you (but you'd probably like that, chinese medicine and all)
>>62710427It's not necessarily an advantage to be the #1 reserve currency. You need to make your currency an attractive commodity for institutions and right now that means making life more expensive for your citizenry.
>>62712360There can be no gold standard if there's no trust in the government. For it to work, people need to beLIEve that their gov will redeem USD for gold when asked. Would people believe that today?
>>62710427>yuan is artificially lowTheir obssessive need to control it is why they won't replace the USD as the reserve currency. The irony.
>>62710386Wait, Iran thinks they won?lol
>>62713072you have a good counterpoint there. thanks fren.
