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World Currency Coup

Mon Dec 26, 2016 12:50 am

I believe bitcoin, with help from China, is about to pull a major coup that will displace the US dollar from its current role as the de facto world currency. Read my thoughts on this at http://my-dog-jetta.blogspot.com/2016/1 ... -coup.html

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Possum577
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Re: World Currency Coup

Wed May 03, 2017 5:41 am

First you say the following:

1. US banks collect 1-2% fees for international transactions involving the dollar;
2. The amount of wealth held as currency (historically 2% of world wealth, in 2016 this was $14T) grows as the world's wealth grows. Given that the world's wealth grows 3% per year, this allows the controllers of the world currency - the US treasury - to print new currency at the rate of 3% x $14T = $420 billion per year without causing dollar devaluation.

These apply to ANY CURRENCY...not just the US dollar.

You don't offer any facts or analysis to support your claim that China is trying to create a coup. All you say is that China should be motivated to try to be the world's currency...but that could apply to any major currency! You don't explain why this thinking would be unique to China.

And in the last paragraph you say that even if China did try to earn the yuan the "world currency" title it wouldn't hurt the US anyway!

TL:DR, the OP doesn't have a point. I mean, literally, he doesn't make the point in his blog article.
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Re: World Currency Coup

Mon May 22, 2017 6:56 pm

The collapse is driven by numerous factors: the rally in oil, the strength in the U.S. dollar, the surge in global bond yields, ongoing political uncertainty, signs of weakening economic growth from macro indicators are all weighing on the currency as well as Turkish stocks, which were down over 2%, making them underperformers among peers.

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chris.collins
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Re: World Currency Coup

Thu Jun 22, 2017 1:19 am

But do we need it? Its working, why should it break dolla? Why does they cant exist together?

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Possum577
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Re: World Currency Coup

Tue Jun 27, 2017 12:52 am

The collapse is driven by numerous factors: the rally in oil, the strength in the U.S. dollar, the surge in global bond yields, ongoing political uncertainty, signs of weakening economic growth from macro indicators are all weighing on the currency as well as Turkish stocks, which were down over 2%, making them underperformers among peers.
How does 2% down compare to the worst of historical performance, particularly among currencies that have fallen from world reserve grace. The British pound, the French franc?

What's the timing you see on when the real global currency shift will occur between the Dollar and the Yuan? A lot of people have been talking about the Yuan becoming the next world reserve currency because of their population and economic might, it's been said for at least 10 years. Why are we still waiting? Maybe this is a prediction that will never be realized.
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