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Hyperinflation and total dollarization case.

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The_Face_of_Boo
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10 Jun 2023, 12:28 am

An interesting specimen of a totally failed economy I guess


https://fb.watch/l3MwhDIAn6/?mibextid=v7YzmG



goldfish21
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11 Jun 2023, 2:16 am

Interesting.. considering there are people in North America fear mongering that the US dollar and/or Canadian dollar are going to become obsolete via hyperinflation. Meanwhile we've just had regular annoying inflation lately - not hyperinflation.

But I have read that there are countries that are dropping the US dollar as a reserve currency.. and are buying/trading oil in other currencies now instead of the US dollar, which would indicate that it's losing it's grip as the world's reserve currency. Hmmmm..


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11 Jun 2023, 1:42 pm

goldfish21 wrote:
Interesting.. considering there are people in North America fear mongering that the US dollar and/or Canadian dollar are going to become obsolete via hyperinflation. Meanwhile we've just had regular annoying inflation lately - not hyperinflation.

But I have read that there are countries that are dropping the US dollar as a reserve currency.. and are buying/trading oil in other currencies now instead of the US dollar, which would indicate that it's losing it's grip as the world's reserve currency. Hmmmm..

Ya I think its the BRICS countries that have started to do that instead of the petrodollar.Interesting times.Honestly, I doubt we will ever see hyperinflation in the US in my lifetime but thats just me.



goldfish21
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11 Jun 2023, 1:57 pm

Texasmoneyman300 wrote:
goldfish21 wrote:
Interesting.. considering there are people in North America fear mongering that the US dollar and/or Canadian dollar are going to become obsolete via hyperinflation. Meanwhile we've just had regular annoying inflation lately - not hyperinflation.

But I have read that there are countries that are dropping the US dollar as a reserve currency.. and are buying/trading oil in other currencies now instead of the US dollar, which would indicate that it's losing it's grip as the world's reserve currency. Hmmmm..

Ya I think its the BRICS countries that have started to do that instead of the petrodollar.Interesting times.Honestly, I doubt we will ever see hyperinflation in the US in my lifetime but thats just me.

A retired financial planner I know said 5 or so years ago that he figures the USA will NEVER let the US Dollar fall as the world reserve currency. And the USA has the guns & bombs and stuff to ensure their currency stays in use around the world, sooooo, he may be right about that.


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Texasmoneyman300
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11 Jun 2023, 10:50 pm

goldfish21 wrote:
Texasmoneyman300 wrote:
goldfish21 wrote:
Interesting.. considering there are people in North America fear mongering that the US dollar and/or Canadian dollar are going to become obsolete via hyperinflation. Meanwhile we've just had regular annoying inflation lately - not hyperinflation.

But I have read that there are countries that are dropping the US dollar as a reserve currency.. and are buying/trading oil in other currencies now instead of the US dollar, which would indicate that it's losing it's grip as the world's reserve currency. Hmmmm..

Ya I think its the BRICS countries that have started to do that instead of the petrodollar.Interesting times.Honestly, I doubt we will ever see hyperinflation in the US in my lifetime but thats just me.

A retired financial planner I know said 5 or so years ago that he figures the USA will NEVER let the US Dollar fall as the world reserve currency. And the USA has the guns & bombs and stuff to ensure their currency stays in use around the world, sooooo, he may be right about that.

Ya.And also another thing is gold and silver salesmen are paid in U.S. Dollars so that indicates to me that they dont really think the dollar will go to 0 in the next year.I have this one older friend and he owns a bunch of physical gold because he thinks the dollar will go to 0 any day now.I disagree with him.



RandoNLD
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11 Jun 2023, 11:38 pm

goldfish21 wrote:
Texasmoneyman300 wrote:
goldfish21 wrote:
Interesting.. considering there are people in North America fear mongering that the US dollar and/or Canadian dollar are going to become obsolete via hyperinflation. Meanwhile we've just had regular annoying inflation lately - not hyperinflation.

But I have read that there are countries that are dropping the US dollar as a reserve currency.. and are buying/trading oil in other currencies now instead of the US dollar, which would indicate that it's losing it's grip as the world's reserve currency. Hmmmm..

Ya I think its the BRICS countries that have started to do that instead of the petrodollar.Interesting times.Honestly, I doubt we will ever see hyperinflation in the US in my lifetime but thats just me.

A retired financial planner I know said 5 or so years ago that he figures the USA will NEVER let the US Dollar fall as the world reserve currency. And the USA has the guns & bombs and stuff to ensure their currency stays in use around the world, sooooo, he may be right about that.


Britain had the world's reserve currency until WWI shifted the center of Capital across the Atlantic. It will only take time and perhaps a catastrophe before the world moves onto another one. I would bet dollars to donuts, however that the Yuan will not be the world's reserve currency.



Texasmoneyman300
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11 Jun 2023, 11:50 pm

RandoNLD wrote:
goldfish21 wrote:
Texasmoneyman300 wrote:
goldfish21 wrote:
Interesting.. considering there are people in North America fear mongering that the US dollar and/or Canadian dollar are going to become obsolete via hyperinflation. Meanwhile we've just had regular annoying inflation lately - not hyperinflation.

But I have read that there are countries that are dropping the US dollar as a reserve currency.. and are buying/trading oil in other currencies now instead of the US dollar, which would indicate that it's losing it's grip as the world's reserve currency. Hmmmm..

Ya I think its the BRICS countries that have started to do that instead of the petrodollar.Interesting times.Honestly, I doubt we will ever see hyperinflation in the US in my lifetime but thats just me.

A retired financial planner I know said 5 or so years ago that he figures the USA will NEVER let the US Dollar fall as the world reserve currency. And the USA has the guns & bombs and stuff to ensure their currency stays in use around the world, sooooo, he may be right about that.


Britain had the world's reserve currency until WWI shifted the center of Capital across the Atlantic. It will only take time and perhaps a catastrophe before the world moves onto another one. I would bet dollars to donuts, however that the Yuan will not be the world's reserve currency.

I would agree that the U.S. Dollar will stop being the world reserve currency at some point.I think its just a matter of time.I think its a question of not if but when.



The_Face_of_Boo
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12 Jun 2023, 12:17 pm

Texasmoneyman300 wrote:
goldfish21 wrote:
Texasmoneyman300 wrote:
goldfish21 wrote:
Interesting.. considering there are people in North America fear mongering that the US dollar and/or Canadian dollar are going to become obsolete via hyperinflation. Meanwhile we've just had regular annoying inflation lately - not hyperinflation.

But I have read that there are countries that are dropping the US dollar as a reserve currency.. and are buying/trading oil in other currencies now instead of the US dollar, which would indicate that it's losing it's grip as the world's reserve currency. Hmmmm..

Ya I think its the BRICS countries that have started to do that instead of the petrodollar.Interesting times.Honestly, I doubt we will ever see hyperinflation in the US in my lifetime but thats just me.

A retired financial planner I know said 5 or so years ago that he figures the USA will NEVER let the US Dollar fall as the world reserve currency. And the USA has the guns & bombs and stuff to ensure their currency stays in use around the world, sooooo, he may be right about that.

Ya.And also another thing is gold and silver salesmen are paid in U.S. Dollars so that indicates to me that they dont really think the dollar will go to 0 in the next year.I have this one older friend and he owns a bunch of physical gold because he thinks the dollar will go to 0 any day now.I disagree with him.


There's a gold rush (buying gold) even here.



techstepgenr8tion
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12 Jun 2023, 3:05 pm

That hurts.

I didn't watch the full video but from what I remember on this the key issue is that once you go with a foreign currency, like USD or Euro, you lose control of your money supply and consequently there's no way to ease or tighten M1 or anything else (kind of like driving a car with no shocks).


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