Koon Yew Yin's Blog
Dumping US Dollar - Koon Yew Yin
Koon Yew Yin
Publish date: Mon, 10 Apr 2023, 07:36 AM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
China and all its allies are dumping the US Dollar which is the most effective method to fight US.
The US dollar has been the official currency for international trade for years now. Currently all the BRICS nations and allies are using their local currencies to trade in an attempt to dump the dollar and push back against American hegemony.
BRICS nations are Brazil, Russia, India, China and South Africa. Brazil has 11 trading partners in South America. Russia has 8 trading partners in Europe. India has 8 trading partners. China has 15 trading partners and South Africa has 34 trading partners if Africa.
BRICS expansion:
Concerning a BRICS expansion, Russia Foreign Minister, Sergey Lavrov stated that Algeria, Argentina, and Iran had all applied, while it is already known that Saudi Arabia, Türkiye, Egypt and Afghanistan are interested, along with Indonesia, which is expected to make a formal application to join at the upcoming G20 summit in Bali.
Other likely contenders for membership include Kazakhstan, Nicaragua, Nigeria, Senegal, Thailand and the United Arab Emirates. All had their Finance Ministers present at the BRICS Expansion dialogue meeting held in May.
The total population of all the nations in BRICS and allies is 4.257 billion people or just over 50% of the total global population in 2022. They are dumping the US Dollar.
Dethroning the king of currency: The US dollar has been called the king of currency. It became the official reserve currency of the world in 1944. The decision was made by a delegation from 44 Allied countries called the Bretton Woods Agreement.
Since then, the dollar has enjoyed a powerful status in the world. It has given the US a disproportionate amount of influence over other economies. In fact, the US has been using sanctions as a tool to achieve foreign policy goals. Moreover, US is also using the SWIFT system of international currency transfer to control the use of US Dollar. In addition, the US frequently uses military power to enforce the use of US Dollar. Unfortunately, the US has been misusing its privilege to hurt so many nations around the world. As a result, US inflation hit 40-year high and national debt is historical high.
US inflation hit 40-year high in June 2022
US national debt is highest in history as shown above.
Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury, Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic system.”
Emphasizing that the U.S. dollar having the world’s reserve currency status “has been a real privilege,” she expressed: “We’ve abused the privilege by wholly reckless monetary and fiscal policy for so many years, certainly over the last couple of years, which has really devalued the dollar.”
She explained what would happen if emerging economies move away from the U.S. dollar towards the Chinese yuan and the USD is no longer the world’s dominant currency. She stressed.
She explained that since the end of World War II, the dollar has been considered a safe haven. Initially, it was backed by gold, but after President Nixon took the U.S. off the gold standard, there has been no hard asset backing the dollar for the last 50 years. Instead, it has been backed by “the strength and economic power” of the U.S., she said.
She added that another important factor is “the fact that oil has always been traded in dollars”
She continued: “On top of that, now you do have this perfect storm of Biden’s weakness, his war on American domestic energy production, the Ukraine war … Because of all of these things, we’ve got America’s enemies, led by China, forming a new economic bloc.”
She added that since we are at a pivotal moment, “all it would take at this point … is for Saudi Arabia, who has indicated that they are open to this, to say: ‘You know what, we’re going to be open to considering other currencies to trade in oil.'”
If that were to happen, there would be a complete implosion of the global economic system, but certainly the American economic system. And if that were to happen, you’d be looking at sky-high inflation just raging, Weimar Republic kind of inflation. If you think inflation is bad right now, just wait.
“But more importantly, we would lose our economic dominance and we would lose our superpower status,” she noted.
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Discussions
2 people like this. Showing 50 of 125 comments
Unwanted currency? It's a legal currency in that country. Of course, it cannot be exchanged to overseas currency. It is merely with the intention for controlling normal folks kowtow.
2023-05-29 12:20
If one don't kowtow to the emperor , the digital currency account would be suspended...this person cannot do much.
2023-05-29 12:26
If digital currency ac can be suspended by the emperor, then who want the digital currency ?
2023-05-29 12:29
Folks must follow. No right to have different opinions. That is an order of the emperor.
2023-05-29 12:31
If like that, digital currency system will make us into slaves to the emperor ?
The slaves will be whipped n caned by the emperor if they no obey the emperior order ?
2023-05-29 12:38
Canned is very old fashioned. With the troops and digital currency plus sky eyes monitoring. Where you can run away from the emperor eyes?
2023-05-29 12:42
Luckily, emperor has not completed it final puzzle through developing AI surveying drones with military functions due to lacking advanced chips.
2023-05-29 12:46
Can we use Chat GPT to tell us to name to us the stocks to buy to make moni ?
2023-05-29 13:02
You can try your luck. I have encountered many ads on choosing stock through AI/ChatGpt. Whatever means to use with the ultimate intention to identify next thematic.
2023-05-29 13:22
Junichiro. Political risks is the crucial factor in investors nowadays. Globalization is dead. Investors would shy away from the opposite camp country to minimize political risks. PM should have been very mindful and avoid siding with the weak camp especially not to mention topic dedollarization. There is a price for simply talking sensitive issue without considering the consequences.
2023-05-30 17:05
May be he has different intention for Malaysia politics purposes rather than...
2023-05-30 18:11
Look at oil rich countries leaders intended of dedollarization, Libya and Iraq. No good ending. US can't openly say you are not allowed to talk about this topic but they can do something behind to screw them upside-down. Luckily, Malaysia is not an oil rich country.
2023-05-30 20:00
CNY slided to 7.22 lor...It is merely an appetizer before serving the main course.
2023-06-26 11:59
CCP con investors. Anybody still believe US dollars becomes toilet paper in foreseen near future ? The fact is CCP members love US dollar privately. Don't be con by CCP supporters.
2023-06-26 12:49
People who maintain a questioning mindset would hardly get con or brainwashing by nonsense information.
2023-06-26 15:56
令吉兑人民币却陷跌后起；令吉兑人民币开盘报0.6523，与上周五闭市0.6519几乎持平，休市时大涨0.36%至0.64951。
Riggit still stronger than RMB. Abang adik still want to de-dolarization. Please look at the mirror first.
2023-06-26 16:17
I feel BRIGS talks about dumping the USD is more hype that actual action. There are already problems for Russia for its trade with India..as it does not know to do with all the ruppees it is accumulating. Similar problems is bound to occur beteween other countries too.. In any case , the USD will be used as the benchmark to determine the transactions values between the other currencies... And let us not forget that none of the currencies has widespead international acceptance ... that comes from having freely tradeable currency, an open economy and people's trust
2023-06-26 16:46
中国审计署:与预算持平 去年中央财政赤字1.7兆
北京26日讯）中国审计署发布的年度审计报告显示，中央2022年财政赤字为人民币2.65兆元（下同，约1.7兆令吉），与预算持平。
央视报道，中国审计署受国务院委托，在26日向中国全国人大常委会报告了2022年度中央预算执行和其他财政收支的审计情况。
报告显示，中央2022年的一般公共预算收入总量10.75兆元、支出总量13.4兆元，赤字2.65兆元，与预算持平。
中国国家发改委管理分配中央财政投资6400亿元，其中安排中央本级支出1467.5亿元，对地方转移支付4932.5亿元，主要投向粮食安全、能源安全和产业链供应链安全等领域。
在中央部门预算执行方面，重点审计的41个部门及所属188家单位收到的财政预算拨款约2285.6亿元，发现各类问题金额109.85亿元。
审计结果表明，部门本级预算执行总体相对规范，但所属单位仍问题多发。存在利用部门职权或行业资源违规牟利、收费或转嫁摊派等问题，金额约6.2亿元。
审计报告专门公布了民生问题审计结果。在促进就业资金审计方面，审计署发现稳岗补贴被劳务派遣公司滞留截留和骗取等现象。此外，还存在部分地方职业技能培训弄虚作假，以及失业补助被蚕食等问题。
Deficits 25% of income no wonder currency so weak. With that percentages of decifits on par with 3rd world country.
2023-06-26 19:22
Biden, Modi hail new era for US-India ties and tout deals
-Deals on chips, minerals, tech, space and defense
-Human rights, democracy in focus
-Modi addresses press, Congress
WASHINGTON, June 22 (Reuters) - U.S. President Joe Biden and Narendra Modi hailed a new era in their countries' relationship after the White House rolled out the red carpet for the Indian prime minister on Thursday, touting deals on defense and commerce aimed at countering China's global influence.
“Two great nations, two great friends, and two great powers. Cheers," Biden told Modi in a toast at a state dinner. Modi said in reply: “You are soft spoken, but when it comes to action, you are very strong.”
Just have a good guest, India choose to be with strong and solid alliance or weak alliance like evil killer Putin and his brother ?
2023-06-26 20:02
no matter how much u wish China die , China will not die.
what is surprising is why a malaysian chinese wishes China die.
2023-06-26 20:08
Posted by IDQWE001 > 35 minutes ago | Report Abuse
Biden, Modi hail new era for US-India ties and tout deals
Smart learder has choosen the alliance and not evil alliance.
2023-06-26 20:38
When typical chinese has nothing to back-up their view, this is what normally they would do to manupulate us thru their own understanding of moral or racial card hijacking our emotion feeling of guilty. Hahaha
2023-06-26 22:44
Posted by treasurehunt > 6 minutes ago | Report Abuse
You are right most of the CCP supporters trying to play race cards it manupulates all Chinese MUST support CCP. CCP does not represent 100% China. Communists and Socialists are not original from ancient China.
2023-06-26 22:55
Learned something new on how a central bank cooking the books. Lol
https://youtu.be/RtF1kjhESvw
2023-07-13 14:14
I feel most of us will accept the fact that the USA created the civilization we live in today..literally every aspect of our lives..can be traced to that country...the internet, payment systems,entertainment, fashion, pharmaceuticals, personal hygiene products, transportation, education etc Just google some of the products at the grocery store..and we will be surprised to learn that it carries an american brand name...from clorox to colgate to M&N..I feel they are quite innovative and will always come out of any problem put in its way......
2023-07-13 16:49
Whatever feel you like. You still feel like to hijack people emotions through your understanding of moral or experiences? Hahaha
2023-07-13 19:00
Haven't learn enough experience in stock market yet. Know what is the consequences of emotions being hijacked by many suck counters in KLSE? You don't really know how to apply cut-loss in real life.
2023-07-13 19:25
USD got no asset backing ? Stocks got asset backing. So, USD is corn moni ?
Uncle Sam is corning the whole world ? USD got ziro value onli ?
2023-07-14 10:55
Serback got asset backing...so? See what would happen 12 months later lor. You can have another review after 6 months.
2023-07-14 11:29
Must remember this loh!
The weak ringgit now, the biggest factor is confidence loh!
If Unity Govt win with PH & BN....ringgit will shoot up to rm 4.30 mah!
So better convert back foreign currency to ringgit b4 the Unity Govt coming election wins loh!
2023-07-14 11:35
USD up when Fed is hiking interest rate & vice versa. But some people love to talk USD toilet paper. This kind of people is either damp stupxx or deadly cunning lor.
2023-07-14 11:53
入腦入心入魂 (this motto came out from who le?)
Why damn stupxx le? Cause this type of people are ruled by emotions or already kena brainwash subconcious level. The deadly cunning type are merely wanted to protect their own interests (except emotions) at what ever costs...they know very well and not ruling by emotions.
2023-07-14 12:13
I think all currencies are toilet papers bcos long term, they all will lose their purchasing power n shall die with ziro value bcos they all no got asset backing ?
2023-07-14 12:30
What answer are you seeking? Answer: "USD would stage a free fall until it become toilet paper. " . You mahu syok answer or looking at the trend in mid term through analysis to the economy?
2023-07-14 13:19
If you feel syok automatically when reading the answer. It would probably mean you are being planted with plenty of information (that you are seeking for without awaring) until the subconcious level. 入腦入心入魂.
2023-07-14 13:26
The dollar index held its recent decline to below 100 on Friday, sinking to its lowest levels in 15 months as signs that US inflation is on a downward trend raised hopes that the Federal Reserve is nearing the end of its current monetary policy tightening cycle.
2023-07-14 13:53
The dollar plunged to over one-year lows against the euro and sterling, while it declined to multi-month lows against the yen and antipodean currencies.
2023-07-14 13:56
Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid said the US dollar remained in a bearish mode with the US dollar index (DXY) hovering below 100 points.
2023-07-14 14:21
Finally, eastern taiko Lehman crisis has arrived thrusting the capital market. World economy crisis is approaching. Mana lari!
2023-08-15 17:54
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Can digital currency become unwanted like the paper Japanese banana moni before ?
2023-05-29 12:15