Thereza Bazar and David Van Day (previously members of Guys and Dolls) form… Read Full Bio ↴Thereza Bazar and David Van Day (previously members of Guys and Dolls) formed Dollar in 1978 making an instant impact on the charts with their first single Shooting Star. They enjoyed a successful chart career over the next ten years selling over ten million records worldwide. They spent over 120 weeks on the UK charts alone with classic pop songs including Who Were You With In The Moonlight, Love's Gotta Hold On Me, Hand Held In Black And White, Mirror Mirror (Mon Amour), Give Me Back My Heart, Videotheque, O L'Amour and many more. Dollar are without doubt one of the most successful duos in pop music history.

Monopolis
Dollar Lyrics

We have lyrics for 'Monopolis' by these artists:

France Gall De New-York à Tokyo Tout est partout pareil On prend le mê…
France Gall & Starmania De New-York à Tokyo Tout est partout pareil On prend le même…
France Gall Starmania De New-York à Tokyo Tout est partout pareil On prend le même…
Isabelle Boulay De New York à Tokyo Tout est partout pareil On prend le…
Luc Plamondon Belle C'est un mot qu'on dirait inventé pour elle Quand elle…
Luc Plamondon - Michel Berger Marie-Jeanne De New-York à Tokyo Tout est partout pareil …
Martine St-Clair De New York à Tokyo Tout est partout pareil On prend le…
Martine St-Clair & Norman Groulx De New York à Tokyo Tout est partout pareil On prend le…
Martine St-Clair Norman Groulx Starmania De New York à Tokyo Tout est partout pareil On prend le…

Martine St. Clair Belle C'est un mot qu'on dirait inventé pour elle Quand elle…
Michel Berger De New York à Tokyo Tout est partout pareil On prend le…
Michel Berger & Luc Plamondon Cristal : De New-York à Tokyo, Tout est partout pareil …
Starmania Cristal : De New-York à Tokyo, Tout est partout pareil …

We have lyrics for these tracks by Dollar:

Give Me Back My Heart Heart heart heart heart La la la la I feel so silly…
Give Me Some Kind of Magic I was a young man choosing to be alone You were…
Guessing Games Thereza Bazar / David Van Day) Ive been giving you all…
Hand Held In Black On a ticket Tokyo return Colour evening palaces that burn So…
Hand Held in Black and White On a ticket Tokyo return Colour evening palaces that burn …
Heartbeat Shorty why you always so shy Always standing at behind, ya B…
I Need Your Love Baby, can you hear me? Do you know what I'm trying…
I Wanna Hold Your Hand Oh yeh I tell ya something I think you'll understand When I…
I Want To Hold Your Hand Oh yeah I tell you somethin' I think you'll understand When …
Is It A Dream School of hard knocks we graduated with honors Addicted the …
It It's only confusion When your dreams hit the floor You mak…
It's a Nature's Way It's only confusion When your dreams hit the floor You make …
It's Nature's Way It's only confusion When your dreams hit the floor You mak…
It's Natures Way It's only confusion When your dreams hit the floor You make …
Kiss AND YOU KISS ME WHEN YOU GO TO WORK AND YOU KISS…
Kung Fu Fighting There's a buzz in the sky a message goes out to…
L'Amour Oh l'amour Broke my heart and now I'm aching for you Mon…
Love One Another They asking what yo life like I love it You heard…
Love Street Used to walk along lonely street Thinking love would never …
Love's Got A Hold On Me Here comes that same old feeling again And I don't wanna…
Love's Gotta Hold On Me Here comes that same old feeling again And I don't wanna…
Mirror Mirror Mirror mirror mon amour If I was to tell you how…
Mirror Mirror (Mon Amour) Mirror mirror mon amour If I was to tell you how…
O L'Amour Vince Clarke / Andy Bell) O l'amour now I'm aching for…
Oh L Amour Dollar Miscellaneous O L'Amour (Vince Clarke / Andy Bell) O…
Oh L'Amour Oh l'amour now I'm aching for you Mon amour what's a…
Overture Alienate me Turn me inside: out me I'm right I swear I'm rig…
Radio His guitar is only this big And a couple things are…
Ring Ring Christopher Rainbow) Baby don't worry if the tide should tu…
Second Time Around Thereza Bazar / David Van Day) They always said you were…
Shooting Star Tonight of nights you should be far away A million miles…
Star Control Watching here so long Civilisations are all gone Drifting ai…
Takin' a Chance On You You don't have to say a word I've seen it in…
Tell Me Why You Love Me Oh oh oh oh oh oh oh oh God will…
The Girls Are Out to Get Ya Party's going on tonight And I'm available 'Cause I look the…
The Second Time Around They always said you were a shooting star And you were…
Tokyo On a ticket Tokyo return Color evening palaces that burn…
Two Hearts Anytime I′m feeling low You pull my world together When you …
Videotheque When the VJ shoots the beam I take my partner from…
We Walked in Love Michael St. James) I love you more than I can say Sometimes…
What Do You Do Walk in fresh concrete before it sets Slice off your nuts…
Who Were You With in the Moonlight Who were you with in the moonlight Who was it holding…
Who Were You With in the Moonlight? Who were you with in the moonlight Who was it holding…
Who's Leaving Who Who were you with in the moonlight Who was it holding…
You Made Me Love You Oh oh oh oh oh oh oh oh God will…

You Take My Breath Away Funny faces look at the way that we live We're on…

The lyrics are frequently found in the comments by searching or by filtering for lyric videos

TRACKS

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Most interesting comment from YouTube:

@peterkratoska4524

2y↑6

75%+ of world trade is in US dollars. Every time there is world wide shock - as in 2008 and 2020 the world flocks to US treasuries at near zero or even negative returns. Why? because it is safe.
There really aren't enough other safe assets around - which is why (thanks to money flowing internationally and the inequality skew) foreign money is flowing into real estate ie up and down the US coast, Australia, NZ, Canada, with Vancouver being the tip of the spear.

What is the alternative, are the Saudis going to switch to remnimbi? are you kidding? China has strict capital controls and if it loosened them there would be a huge capital flow out of the country. (It briefly happened in 2015 and they cracked down on it as much as possible, you could only take out $50k and not put it into real estate, but of course anyone with money (over $2million) in China already has a foothold in North American cities) Funny story. In 2015 the Bank of China had a little report on an award given to it on precisely this, but someone did not get the memo and posted it on the website. It was up for less than 2 minutes and then taken down, but long enough for someone to download it. What it said was that in the previous year there had been hundreds of billions in cash flowing out of CHina by top party echelon members, guess where it went.)

The other large currency is the Euro. The problem is that some members like Italy may drag it down. If anyone thinks Greece was an issue, Italy has the 3rd largest bond market, no growth in 30years, an aging populations (average working age 47) that will be retiring in 20 years and no interest in immigration to increase growth. In the 90s Prior to joining the Eurozone Italy devalued the lira at least 5x to be competitive with the Deutschmark. Now of course Germany controls the printing press and enjoys the advantage of its export based economy so the only thing consumption economies like Italy, Spain etc can do is to cut social spending (structural reform) or shrink their economies (like Greece did by 30%). So forget the Euro.

And as others pointed out, wealthy Russians, Chinese all like to have their assets in rule of law countries - they don't put them in China or Saudi Arabia.
Something that Bill Browder pointed out as that this is actually the way to hurt Putin and his band of kleptocrats. It doesn't have to be outside the rule of law, there are legal ways to go after it.

I think this episode is not the beginning of the end of US dollar dominance, quite frankly it is the opposite. This is pretty much the view of political economist Mark Blyth who predicted both Brexit and Trumps election.

Anyway, enjoy your videos.

All comments from YouTube:

@GoodTimesBadTimes

2y↑30

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@sodblitz3445

Now make a video about the billions that Russia stole from American businesses by confiscating their factories properties and equipment

@kukulroukul4698

2y↑2

Dont EVEN think about it ! :)

@BoneyRasputin

2y↑2

Louis Vincent Gave doesn’t understand what OLIGARCHY means does he???

@handlemonium

2y↑1

So.... crypto 😏🚀

@samwesaw

Currencies are less dangerous than a commodity trade war, imo

3 More Replies...

@e2rqey

2y↑681

Rule of law cannot exist without the ability to enforce it. I'll take economic warfare over actual warfare every time. While I think it does demonstrate the extent to which the US still has significant geopolitical and economic influence, the only reason the US was able to do what it did with Russia is because it had the backing and approval of a significant portion of the rest of the world. This is a natural extension of the same policy that has always existed, if you go against US interests the US will respond proportionally. There will always be the development of new capabilities for coercion and warfare, the real question is whether those capabilities are being used appropriately and proportionally. The United States doing this to Russia doesn't set the precedent that the US will do this to any other nation whenever it feels like, at the bare minimum any nation who's not interested in invading other countries almost certainly doesn't need to worry about any of these consequences. The only parties who should be concerned by the moves of the US and EU were already concerned before any of this started. China has already recognized the extent of US power and the need to invest in decoupling and developing their own systems of influence.

@barbariandude

An interesting point to add is that this is the first time that I'm aware of where it wasn't just the US doing the sanctioning: this is a coalition of pretty much every major western power. Not just the US, but Canada, UK, France, Germany (to a lesser extent...), Japan, etc. This is economic warfare at the scale of NATO.

@ayszhang

Yup, the US wants to keep it so that they're the only one who can invade other countries

@BigBoss-sm9xj

2y↑34

Brilliantly said

@Igor-xl4wz

2y↑45

Well said. Louis-Vincent can go live in Russia or China if that is what he wants.

@rdsii64

When China has invested in that decoupling to the extent that it can, the Chinese will be able to exert that same kind of pressure where they have such influence. We may be approaching an era where the primary tool to exert influence is no longer bombs and bullets, but weaponized financial tools. Bombs and bullets will simply be a means of self defense when all else fails.

33 More Replies...

@samuelharris6540

2y↑249

I find it highly unlikely that the RNB will replace the USD as the global currency of trade and commerce. The Yuan is among the most manipulated currencies in the world, making holding and using it long-term a dubious proposition for international corporations and national governments. Manipulation breeds volatility, which in turn leads to a lack of confidence, which drives money elsewhere. It's similar to why average Chinese investors have poured capital into a highly speculative property sector instead of the local stock market.

Now, the dollar is losing market share. However, a lot of that loss is going to the Euro, another western currency, saddled with all the baggage that comes with that. No longer do the companies of Europe and their partners trade in Lira, Francs, Marks, and Pounds. It's a simplified system granting access to a wider market.

@enticingmay435

2y↑16

The dollar will probably not lose its status as the dominant global currency anytime soon but it most definitely will become a lot less powerful than it used to be/is now. When that does happen the US will slowly lose its ability to manipulate its currency in favor of its economy. Things like printing trillions of dollars out of thin air and raising the debt ceiling every time it’s reached is no longer going to be possible without consequences. This limitation will further weaken the American economy plus its status as the most powerful country in the world. So much of the American economy, society, and even politics and military relies on the dollar’s unquestionably dominant status. When that status is challenged, which it will be soon, it will weaken all of those aforementioned things and it is going to be ugly. Really ugly, economically and more importantly socially.

@Vractis

2y↑9

Agreed. China also has a massive debt problem and is about to face crisis after crisis (Real Estate, Demographics) in the near future. I think its more likely that China becomes a failed state than a superpower holding the chains of the financial system.

@anti-emo4721

2y↑14

@@Vractis In the 80s, people thought Japan will take over the world economically, now experts say Japan's population will shrink to a half of what it has to day in one generation. I see China is gonna go down even more, without access to western markets their development is unsustainable.

@carso1500

2y↑4

Yeah and europe also freeze all the russian reserves that they had in euros, the problem for any autocracy is that the biggest and most powerful economies are the closests and most loyal allies to the US, the biggest currency reserves are in dollars, euros, yens and wons all of those the currency of the closests US allies and the yen sucks as a currency for the reasons you pointed out

@FOLIPE

Manipulations breeds volatility: yuan is actually manipulated to be kept stable.

26 More Replies...

@TheGoreFist

2y↑337

I'd like to point out that freezing of assets is not the same as confiscation. Freezing prevents the owner from using them, but does not tranfer ownership. Confiscation will transfer the ownership of the assets to the confiscator.

@Mankorra_Gomorrah

2y↑57

Yes, and freezing is actually a far more useful tool when it comes to coercing an unwilling opponent. If their reserves were confiscated they have nothing left to lose. But when they are frozen, there is the chance that they could be unfrozen at any time if certain conditions are met. In this case, a withdrawal from Ukraine would probably begin a process that would undo almost all of the sanctions put on Russia.

@headoverheels88

2y↑20

@@Mankorra_Gomorrah It's why the US sent Iran "pallets of dollars" to Iran. We didn't give them money. We gave them their money back because they complied with the Iranian nuclear deal.

@schumzy

2y↑13

Exactly, which then makes the rest of the argument mute. However, that's not how the non-democracies will see it, that's the point. To the non-democracies it is the same thing, because to unfreeze it, means they have to do things locally that will cause them to lose local power.

@Senshidayo

2y↑4

And as you pointed out, the asset freezing wasn't unprecedented. It has occurred during wartime in other conflicts with other nations, and it wasn't even the first time in the last 10 years the US did it. We also had frozen Libyan assets during that conflict and froze Syrian assets after Libya. Taking the superyachts was provocative, but it really was the coordination with so many Western-aligned nations all enacting sanctions that was shocking.

@oldmandoinghighkicksonlyin1368

2y↑1

Putin's inner circle did not do enough to dissuade him. They have enriched themselves through oppression and injustice.
Take their cookies away. They're bad children.

14 More Replies...

@lif6737

2y↑474

Personally, I’m not worried. If authoritarian regimes are worried about holding foreign reserves in dollars or euros now, what alternative do they really have? Yuans will never be fully trusted internationally.

@davids3282

They have the possibility to create a multipolar world order, in were every thing is tied to the country you are doing business in, Want to trade with india? Rupees. China? Yuan. Russia? Rubel. It will deprive the west and the leading powers like germany, france, uk of their industrial might slowly over time and with that the pax Americana will end, because the west and especially the US cant afford their military industrial complex anymore. What after that happens i dont know.

@harrydehnhardt5092

2y↑28

... and the US will do everything to keep it that way.

@sillysad3198

2y↑31

also. eff them!
if the dollar loses bloody backing of bloody extortion masters, so what?
we still have our LABOUR, our INDUSTRY.

@dean_l33

@@sillysad3198 Just a reminder. Even though manufacturing is moving out of China it doesn't mean it'll all return to the U.S or that it'll soon till all of them are out of China

@sinoroman

2y↑12

because most wealthy countries are juniors to the US. the US will not allow juniors to trust the yuan currency

128 More Replies...

@barbariandude

2y↑230

I think the people shouting about how "The US broke the rules! You can't confiscate Russian assets!" forget the fact that this is a direct response to Russia blowing up the Budapest accords, where they guaranteed the security of Ukraine. The message is very clear: if the rules don't matter for you, they don't matter for us. Follow agreements and treaties you sign.

EDIT: A good example to illustrate what I'm saying would be Hong Kong. China has bent that agreement like crazy, but they haven't broken it. Hong Kong still technically does have its own local government and laws. It's being pressured heavily by China to the point of being meaningless, but they haven't explicitly gone and dissolved the local government. Similarly, the situation in Yemen is atrocious, but there wasn't an explicit peace treaty disallowing them from going in there. I personally believe there should be more repercussions for Saudi Arabia over this, but the message from the EU and US is that treaties and international agreements should be respected or else.

@DerDop

2y↑19

This ^^

@user-ir7og3lx2d

US has broken rules many times before.

@kirilldelyukin9273

2y↑11

Which was broken becasue Nato broke its promise of not expanding to the east.

@SoApost

2y↑3

But the key is that state -level rule violations should not and do not incriminate individuals as accomplices just because of their citizenship.

@SolitaryLark

2y↑80

@@kirilldelyukin9273 that promise doesn’t exist

38 More Replies...

@FinestSeven

2y↑85

Draconian - Cruel, excessively harsh and severe.

Calling out for "the rule of law" when criticizing non-violent sanctions against a nation carrying out a war of agression sounds absurd and very Lavrovian. The response is hardly excessive nor cruel when compared to what is happening in Ukraine.

@AnonNomad

2y↑3

He literally says in the following sentence that nobody doubts that it was the right thing to do. Pipe down.

@dennisrichards7994

And of cause that means by your comment you think that it is alright for the United States to break every international law that has been written and still not be held to account , you creeps and your exceptionalism , but here's the thing ! not only is this doco wrong in a lot of things so is this crap that Russia is losing financial war witch is totally wrong !!!

@haruyanto8085

When compared to what's happening in Ukraine, every other conflict globally past and present is and was worse, Russia is being very careful in it's war efforts

@dienar3717

Why was nothing done about the Ukrainian abuses in their east, pre-war?

Was it because the money laundering to Biden & co was running smoothly?

The average American must understand, USA foreign aid is little more than a money laundering mechanism back to their 'elite'
Very little of that Aid ever hit the grond and the little that does, is mostly destructive in nature.

@AnonNomad

@@haruyanto8085 60 civilians dead in a school building in Bilohorivka just 3 days ago. Bucha obviously stands out. Russians are anything but 'careful' in Ukraine.

4 More Replies...

@benghazi4216

2y↑320

Such an interesting episode!
But I think the worries are overblown. The point is to have your money where the rule of law exists and the economy both immense and stable over decades.
The only one is still the US, or the EU as somewhat distant second. So at most we will see divestment towards resources like gold.

@DeltaCain13

2y↑10

Probably most people would like to see their investments in Swiss francs, except now they have a very strong rules about foreign investment.

@chrisluba7597

2y↑2

No crypto?

@j.obrien4990

2y↑7

Louis Vincent Gave telling us how everyone gets the same treatment under the rule of law, where has he been?

@benghazi4216

2y↑4

@@DeltaCain13 The Swizz also sanctioned Russia, so I think that option is also not looking as good as before.
And Swizz have neither a large economy, or equally as stable overtime as the US.

@benghazi4216

2y↑11

@@chrisluba7597 That is a small mans game.
It's hard put trillions into crypto, which is the amounts needed.

18 More Replies...

@user-xp8nq5mf9y

2y↑121

People forget or never heard that the Afghanistan dollar reserves are in the US and of course they wont give them back to the Taliban and many people probably agree, regardless that really isnt going to kill the dollar. What is likely to end the dollar is when it stops being convenient to want them in the first place.

@willscher8964

2y↑5

It would require that either a.) there is a different medium of international exchange / value storage that users find more stable, convenient and reliable, or b.) world trade itself falls off significantly and countries have significantly less need to buy from or sell to world markets. I'm not saying the US dollar is the ideal currency. Its just that its the least bad answer at the present. There aren't enough Yen, Euro or Pounds to take the USD's place. Gold is not a practical alternative. Bitcoin is still in its infancy and is nowhere even close to being ready ready for this role.

@trillionbones89

You forget that the Afghan government did this on purpose to starve a future Taliban Regime if they don't accept American rule.

The money was safer in the US than it could've ever been in the Hindukush. Volatile dictators and nations aligned to the western hemisphere will continue to do that.

@sokolmihajlovic1391

@@willscher8964 "was" the best option

@92HazelMocha

2y↑3

I mean the Afghanistan situation is just another instance in a long series of instances of the US basically nullifying foreign capital overnight. Any currency only has value if that value is stable. If you have billions of dollars and the next day someone on the other side of the world decides you shouldn't and it evaporates, the currency loses stability and value as a result. Why would countries continue to trade in a currency that could just dissappear if some politicians on the other side of the planet just decide they don't feel like you should have access to it? So while any one of these incidents won't kill the dollar, this continued behavior of just making billions of dollars vanish in an afternoon will eventually lead to no one wanting to use it to trade.

@willscher8964

@@sokolmihajlovic1391 ?

8 More Replies...

@ckr3167

2y↑86

Actually, the value of the US dollar has been climbing. So in comparison to other currencies the dollar remains on top and will remain that way for the near future.

@naneri

The trust has went down after the Covid with 4 trillion $ printing and 10% inflation in a year as a consequence.

@ckr3167

2y↑6

@@naneri that’s quite ubiquitous across all other currencies however. And again, in comparison, the dollar is still the most trusted and widely used.

@headoverheels88

2y↑10

If anything, what might happen is - like the cold war - there's gonna be two global financial systems. One that prefers the stability of USD/Euros, and one that HAS to do commerce in yuan/rubbles/rupees.

@naneri

2y↑4

@@ckr3167 I am not saying it is different for other currencies, simply I do not agree that trust in dollar has been climbing. Inflation in Japan and China was less than in USA and Europe in the last year. In addition to USA easily blocking Russian assets, that has made USD less reliable in the eyes of other (even allied) parties. That is why Saudi started considering CNY for payments.
Concerning that it will be on top for the near future - I completely agree, there are not threats to throw down dollar in the near future.
And of course it is still most trusted and widely used - 60% of the world international transactions is more than all other currencies combined.
But still - what I wanted to say - the trust is not climbing.

@ckr3167

@@naneri I see your point: I edited the OP to reflect that.

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@chainoad

2y↑23

"Louis-Vincent Gave, an expert"
Doesn't know the difference between an assets freeze and confiscation.
What an expert...

@gabrich1991

2y↑3

i found it very funny that people that keep saying this stuff like gave they have some ties with china or anti west sentiments not suspicious at all

@krj15489

2y↑110

Another thing to remember, the US agreed to protect all global maritime trade at the same time the world pegged their currencies to the dollar and starting holding us in reserve. A move away from USD is also a move away from guaranteed security for global shipping. What incentive does the US Navy have to protect China's oil shipments done in Yuan? China will have to sail their Navy all the way to Saudi Arabia if they want to guarantee the Indians or Somali pirates don't mess with them. Moving away from USD dramatically increasing trading and security costs for everyone.

@azimkhan4805

2y↑6

LOL

@BigBoss-sm9xj

2y↑4

Exactly

@pelayocf4558

2y↑13

Your statement is very naive and ridiculous. The United States protects the world's shipping lanes as much as China protects the South Sea. What I mean by this is that when they talk about "protecting" they really mean defending their hegemony over sea, land and air.

@mylet2658

@@pelayocf4558 countries are realizing that China is the biggest beneficiary of the globalized system. They are not the worlds reserve currency. This advantage is overblown. The US can produce its own oil. And will be fine. Hegemony is a made up concept by China.

@onetrickpony4179

@@pelayocf4558 your country and your economy exist but for one thing: the American global security overwatch. Freedom from piracy and attack on the high seas. But, we are taking that away and you can fend for yourselves. Enjoy hunger and poverty. We no longer care.

11 More Replies...

@flaviusjustinianus

2y↑73

Freezing the assets of a country that is breaking international contracts and breaking the UN charta seems like a very legitmate and legal punitive measure.

@headoverheels88

2y↑10

And that's exactly how most of the free world is looking at it. Authoritarians like China/Russia/Saudia Arabia are right to be worried and it would be smart of them to consider an alternative. The question is, though, what will be that alternative? I, for one, happily support using the dollar/Euro as a political weapon against literal genocide.

@esense9602

right now, Turkey is at Northern Syria and Saudi Arabia might attack Yemen again in any moment. Should we start freezing their assets? you can't because West are hypocrites.

@PapaOscarNovember

2y↑5

If you commit crime and violate rights of others, you can have your assets seized under US laws. Yet people don’t flee US for the fear of US government wrongfully seizing their assets.

In fact, the current asset freezing of an international rogue like Russia sets a precedent, and establishes a pseudo international justice system. As long as US policy is clear that this extraordinary punishment is reserved for a specific set of violations of international norm, and maintains the discipline, more countries will regard this as a ‘feature.’

I’m sure, though, countries with ambitions will be thoroughly repulsed by this.

@Unsensitive

@@PapaOscarNovember it's all about clear and consistent rules, so they can be factored into a coat benefit analysis.

The same is true about nuclear weapons. Countries that set clear rules on when they will use them, have a stabilizing and deterrent effect.
Without clear rules, your country is less trustworthy, which has costs to you most of all, but also others.

@elmohead

@@PapaOscarNovember thats one way of seeing it. Another pov is to see the frozen assets as the price for doing whatever you want. Whether it's worth it or not depends on each country.

6 More Replies...

@Rocketsong

2y↑48

25 years ago, you basically had 4 choices for a reserve currency, the USD, the Deutschmark, the Yen, and the Pound Sterling. The only thing that has really changed is that the Euro has replaced the Deutschmark.

Neither the Pound nor Yen is that attractive, as the economies of those two nations are relatively stagnant. The Japanese central bank has a negative interest rate in a disparate attempt at monetary stimulus. Brexit will likely have the long term effect of strengthening the Pound, but also shrinking the overall economy, as the long term effect will drive Irish unification and withdrawal from the UK.

The Riyal is a fixed currency. It's fixed to the USD at 3.75:1, thus trading in Riyals is simply trading in dollars one step removed.

So, your only real choices are Euros or Dollars. Then your choice comes down to whether one thinks that monetary policy in the US or EU is more inflationary.

@jimbodimbo981

2y↑2

Swiss Franc?

@charliefoxtrot5001

2y↑5

@@jimbodimbo981 0.2% of global foreign currency reserves!

@MrThhg

2y↑2

@@charliefoxtrot5001 nah we need pesos lol

@Rocketsong

2y↑1

Yeah, the Franc is small enough that just buying or selling a few billion dollars worth would swing the price.

@artruisjoew5473

EURO is none functional as a currency outside of Europe since Germany decided to take everyone’s money to bail out Greece.

3 More Replies...

@live_free_or_perish

2y↑68

Even if the dollar becomes less dominant it will happen very slowly over a very long time. There is so much inertia behind the dollar that sudden changes are very unlikely.

@oldmandoinghighkicksonlyin1368

2y↑11

People like the dollar because it is stable.
Like it or not, the world turns to America for stability.
And for the most part but not always, America provides it.
America protects shipping and int'l trade the way no other country can.

@user-gc1hg9sp9k

2y↑2

@@oldmandoinghighkicksonlyin1368 yeah but what happen if 2008 financial scenario will happen again in the near future?? Will people still trust the US dollar?

@oldmandoinghighkicksonlyin1368

2y↑1

@@user-gc1hg9sp9k If something like 2008 happens again, it'll affect every major economy in the world not just the US. That's what happened last time.
The only other currency with stability is the Euro--so maybe that would be the alternative. But Europe doesn't have the military might to back up the currency like the US does.

@FOLIPE

@@oldmandoinghighkicksonlyin1368 We don't know. 2008 didn't affect all économies the same way, nothing does

@haruyanto8085

@@oldmandoinghighkicksonlyin1368 nah the RMB has actual possibility of being used internationally accepted currency, it's international share has been growing and China global trade percentage increased to over 18% with Russia possibly leaning more towards China and Indian and Chinese relations stabilising recently, it's growth will only continue, despite real estate and debt problems growing in China, US has far worse and many more problems, and unlike the US China does not regular invade or fund militia groups in other countries.

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@zigzagzaag

2y↑30

Your info is usually amazing. It was a mistake to use this financial shock jock, Louis-Vincent Gave, whose credentials are apparently nothing, as a source. He kind of seems like a Chinese agent, especially given his "education" in China.
His website doesn't list any degrees at all.

You would do well to vet your sources.

@debralegorreta1375

This elucidating point brought to you from zigzagzaag. hmm. . .

@debralegorreta1375

Maybe you can make a substantive criticism? NAH, you don't have any.
When you can't confront the ideas, attack the man. hmm . . .

@Babylonian_Escapee

2y↑1

@@debralegorreta1375 You just attack the man by mocking his user name, as if that effects the message.

@mackataxe8655

2y↑99

No other currency is capable of holding up the global financial system. The stability in comparison to the Ruble, Yuan, Euro, or Dinar is a no-brainer. The US would write off trillions in debt if oil was priced in any other currency.

@Daiman01

Every throne are bound to fall.
US has been reckless over the years with their dollar dominance.Bullied and imposing sanctions over minor countries while they themselves acting as policing the world.
The oil will no longer sell in dollar.
The US should never back away from gold standard in the 1970s.

@mackataxe8655

2y↑4

@@Daiman01 😂😂😂🤣🤣🤣 any other feelings that don't line up with facts?

@Beyond12345

Any gold currency can do it 💪

@undefined69695

2y↑8

Agreed. Smaller countries could use a different currency if they don’t trade with the us but for large countries that do it’s not possible any time soon. People have been predicting the dollars demise for decades and look where we are, the us raises rates and the rest of the world must follow or their currency goes to hell. Look at japan right now.

@SolitaryLark

@@Beyond12345 US itself couldn’t bak the dollar with gold while being the global currency cheat makes you think someone else could.

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@st-ex8506

2y↑17

I believe that the importance of the dollar was indeed dwindling. But the recent events have boosted its credibility for at least another decade!

@indycinema

2y↑21

Mr Gave is a complete fool.

@gabrich1991

2y↑1

care to explain (no offence) out of curiosity i never head the guy

@g1y3

2y↑6

I am glad you started recording video in your own voice again. I found your channel a few year back while looking to channel subscribed to Caspian Report and I wasn't disappointed by analysis.❣️

@DerDop

2y↑13

The dollar won’t be dropped, at least in this century.

@oo--7714

2y↑4

It probably will, it went from 70-60% since 1998
Itll probably get to 10% in 2070 or something.

@kukulroukul4698

@@oo--7714 even with a dollar at 40% theres an awfull lot of '' FIRE POWER'' there ! The US can reign supreme over the world...of course...a more troubled world than in the past :) But we cant be too fussy now

@salvatoreregalbuto5444

2y↑1

@@oo--7714 it wont chinas yuan dropped 50 cent this month alone and they are the only competitors

@lorenzo6868

2y↑31

The sanctions are a great response, they should do anything possible that doesn't involve WW3.

@TheOldGuy2000

2y↑30

If only some brave nation in the late 1930's would have had the fortitude to make a similar move against Germany, perhaps the greatest catastrophe of the 20th Century could have been avoided. This was another great episode presented by you. But consider... what if the US's gamble has helped squelch the greatest catastrophe of the 21st C. The loss of the dollar's eminence seems a small price to pay in that case.

@kieranwalsh2058

2y↑7

Unfortunately it was the Second World War that helped stop the Great Depression. Vast need for industry worldwide as a result of war was important for economic recovery.

However I think you’re onto something. There’s a lot that countries against Russia can do and it’s possible Russia will feel the economic impact soon.

@headoverheels88

That's why I'm not bearish on the dollar. People are going to be spooked if they're in and/or heavily invested in states that commit literal genocide. I get that. It's fair to have assumed the US looks away for financial benefit because, you know, the US is kinda known for that (*cough* Saudi Arabia *cough*)... But to accept a nuclear power annexing another country just because it can? Nah. This should have happened in 2014, if not sooner.

@MrThhg

if Franz Ferdinand didn't get the worst luck in history and get shot. the world would be very different lol

@akademiker23

nazi germany self financed it's war efforts by fooling their workers with something akin to NFTs

@khalilmohammadmirza4070

What about all nations USA and Nato bombed.
After the Ukraine war has ended, it would have still killed less people.
American and Europeans would be still in grief because they have white skin.
Bombing brown and black skin people does not deserve sanctions according to our western overlords.

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@derekcraig3617

2y↑20

You missed the major issue here; What currency could replace the dollar as the world reserve? None... Your 'expert' briefly talked about the Chinese Yuan but that is the MOST MANIPULATED currency in the history of the world. No, there isn't another currency thst could come even close to the dollar. This video was a lot of hot air about absolutely nothing. There's no chance

@kennyholmes5196

2y↑1

Closest ones I could think of would be either the EU's Euro or Japan's Yen.

@coltrueg

@@kennyholmes5196 Problem is both those currencies are dependent on the US as well. Both Europe and Japan get their security guarantees from the US so everyone would just cut out the middle man and now we are back to where we started as the dollar being the global currency.

@OzWannabe

2y↑9

I'll put this here: US is energetic, food, resources self sufficient from the end of last year. They don't really give a shit whether USD will be still THE currency. All they have to do is stop patrolling the seas and see how much protecting trade routes will cost for China/Russia or Germany, France etc. And they will do it at one point. Arab leaders being worried, gooood! Move your assets in rubles, yuans. See if Putin or Xi will abide by rules then.

@headoverheels88

2y↑3

Last weekend (or was the one before?), a Chinese representative went to Canada and expressed their wish to "continue their relationship". In Chinese wolf-warrior diplomacy, that's essentially the equivalent of "DON'T SHOOT, COMRADE!". They want to maintain the status quo because that's all they know. For example, if China weren't making our hammers and nails, why would we stop - say - India from blocking passage between Arab states and China? It has to go around it. No one wants the current global order, but the smart ones know they need it. When the authoritarian world stops making it cheap to be an American, why we would keep doing business with them?

@rickcummings3938

2y↑1

I agree. So many people around the world love to crap all over Americans every chance they get, like it is their favorite thing to do in life. Unending insults, prejudices, and baseless accusations....nonstop, 24/7. It is possible to imagine that at some point Americans get fed up with this verbal abuse, and tells the world that we tried to help make freedom and fairness available as much as any one nation could....now you are all on your own. Good luck.
Who will you turn to for help against the ruthless dictators, drug cartels, mafia bosses, religious fanatics, etc. There will be no limit to those who will oppress others.....and damned few who will risk their soldier's lives, substantal finances, and self-subjected economizing in order to donate billions of dollars in support. We casually talk amongst ourselves from time-to-time on this topic, and do you think any of us wants the thankless, unappreciated job of "Big Brother" / "World's Police" / "Defender" .....and then endure the constant tsunami of insults and hate???
Which current major power do you think will make everyone happier?

@blockheadthewise2846

Are you a wealthy American?

@blockheadthewise2846

Are you a wealthy American?

@krj15489

2y↑22

Unlikely that large amounts of Saudi oil is denominated in Yuan. SA still needs the US for arms and security. China doesn't have the ability to counter Iran and thus can't replace us. Also small deals in local currencies fracture global trade. A reserve currency is still needed in a globalized world and no other currency has the size to replace USD. If Rule of Law concerns are what tank USD then for sure no one is going to switch to Yuan for obvious reasons.

@richdobbs6595

2y↑1

Well, does the USA benefit from propping up the SA Royalty? Just to make things interesting, I'd like the USA to pivot towards Iran, and leave MBS high and dry! It would be a good time for the USA to flip from supporting India back towards Pakistan. Just leave some more stranded assets for pipelines through Pakistan to China!

@jeffreywenger281

2y↑10

You undermine your own arguement in this video. You quote Louis-Vincent Gave saying the western world's advantage is the rule of law and openness to all people, foundations of the system that were violated by the confiscation of russian reserves. Really? If you're attacking the western world, with its rule of law and openness, these moves are defensive, designed to protect that foundation. It shouldn't shock anyone that you cannot make war with the Euro-American economic-military alliance while using their banking system and relying on Euro-American finance! Ulkraine might not have been officially part of that alliance, but there was enough interest on both sides that you get between them at your own risk. The dollar will be just fine thank you, and maybe all the better now that it has displayed a vigorous self defense rather that the supposed decadent decline that many had assumed.

@BigBoss-sm9xj

Great wording

@baptistebriois2291

2y↑11

Freezing asset is not seasing asset ! It is not the same thing !
In theory they could have it back after the war. Unless they finally sease it to pay for Ukraine re construction.

@peterkratoska4524

2y↑6

@hithere8753

Interesting analysis

@thegrumpydragon7601

2y↑3

I believe the US is tired of being the
Hegemony but hasn’t found the alternative to pass the crown too

@ikp4success

If the US stops being hegemony. We going to have another world war. Many don't know this the status quo, is actually preventing another world war.

@joeyramonelookalike

2y↑5

Sanctions are reprisals, which by definition are illegal acts that are temporarily allowed in response to other previous illegal acts (like multiple acts of intervention, aggression and annexation of territory), and which are adopted in order to push the rouge state back into compliance with the generally agreed basic order (before using force against them). Louis Vincent Gave oversimplifies everything, puts it out of context, and makes you think the rogue state is just like every other state and thus an unfair victim... that's not only dumb but also apologist.

@JonMSanderson

2y↑1

Really great video bud. First thing I'm seeing of yours. Clear minded, impartial, and very informative. Thank you so much!

@ajinkyapathare

2y↑2

I'm really happy about the fact that you included opinions of people who say dollar naysayers & dollar supporters please continue to provide more coverage to dollar supporters as well. Just give a 50-50 analysis. Great keep it up

@alehaim

2y↑3

I'm digging it that the amazing narrator of the Ukrainian series is continuing to narrate. At this point his voice is what I associate with this channel

@ryans5707

2y↑5

if you don't want to abide by the rules of the international system then you can't expect hide behind those same laws to protect your (stolen) money

@H3LLS3NT4SS4SS1N

2y↑2

Please do a whole episode on all the sanctions on Russia and their effects! I love your video and as soon as I’m out of poverty I will be joining you on Patreon! Keep it coming buddy!!!

@endritloshi

2y↑2

One of the best channels on youtube. Cant click fast enough when i see a new vid.

@userasdf1546

2y↑6

What's a good alternative to the dollar? Remember reserve currencies have to be liquid, stable and without capital controls.

@dreadfulbodyguard7288

Can't countries keep majority of reserves in Gold and only small amount (~20%) in USD for trading?

@maninredhelm

2y↑4

Any missile fired is a missile lost, and can no longer be used to threaten your enemies. It's the same with weaponizing currency. What the US is doing doesn't come without a cost. But sometimes the situation is serious enough to justify it. Just don't fire off your weapons recklessly or wastefully.

@florianbauer4422

offtopic question/note: minute 1:00 , your animation features an aral sea status from 1976. also whats that circular border next to it?

@HistoryScope

2y↑1

1:07 I know this is off-topic, but what is that circle in the middle of Kazakhstan?
Is that Baikonur?

@Alex_Urs

It is Baikonur, yes.

@enticingmay435

2y↑4

@WastedBananas

💯

@manickn6819

Agreed. Further when it happens many nations will remember the things US did to them over the years. They will find out quickly that they have a lot less friends than they think.

@Ryanowning

2y↑30

While the US dollar isn't going away, it also will only be strengthening because of the collapse of Globalization. The core problem with cryptocurrencies is that they are FAR from stable. Attempting to do transactions through them can easily be sniped by other players. It is the least secure method of trading.

@peterkratoska4524

2y↑1

and China is basically going to move to a state crypto which is the opposite of the intended idea of being able to keep the govt out of your money. In any case see what Nassim Taleb says about crypto - essentially its a gambling asset it went from $81k in november 21 to $39k now. Can you pay your rent with it? Way too volatile. (Also endless stories of people losing hard drives with millions on them or forgetting their passwords etc) Even in the Capital pipeline hack the US authorities managed to seize much of it back.

@HomersIlliad

2y↑2

And except for stable-coins which explicitly peg themselves to a reserve currency, the other cryptocurrencies act more like commodities than something I'd hold instead of cash.

@volkhen0

2y↑4

When were all these assets confiscated? As far as I know it was just frozen.

@satadenai9182

it will be in "confiscated" status when it is used to pay for the rebuilding of destroyed cities and infrastructure. the truth is all those assets don't amount much compared to the size and scale of US economy, but the action of taking oligarchs' money and reinvesting into a popular, charitable cause is infinitely more valuable to US's image and western society's image, which could pay dividends for generations.

@Andrew-ob5ij

2y↑8

Did Gave really just use Twitter as an example of how the us decides policy. You really chose a terrible guest

@aleksaradojicic8114

While example is poor, idea behand it stands. Population of western countries is almost one move away from forcing there government to introduce agresive policies aimed at states like Saudi Arabia.

@TheGrace020

2y↑8

Saw it in polish but thanks for posting good informative videos always

@Jkp1321

2y↑1

Oh is he Polish? I could never place his accent

@TheGrace020

2y↑2

@@Jkp1321 Indeed it is :)

@russrazz

2y↑3

My friend I am afraid I disagree with you on this one, specially the notion of abandoning the rule of law. The central bank actions were all taken within a fully legislated legal framework. The West continues consistently to follow the rule of law but no one said it didn't have the right to change its laws, specially when faced with such abject barbarism and the genocide you yourself have done an excellent job of highlighting in the past.

@tuams

Oh, man! Thank you for this new perspective. I really appreciate it. You've stepped your game up again. Very proud of you!

@unconventionalideas5683

2y↑2

US and Saudi Arabia is not so significant. The US has its own oil, and China's demand has crashed with its zero COVID policy. Not only that, but this war between Russia and Ukraine has got US investors really jittery about doing business in China, and the Chinese manufacturing sector is suffering as a result of both.

Furthermore, the price of oil has begun such wild fluctuations that the Saudis can no longer run their economy reliably based upon oil. Their people are much more dependent on their oil than the world is. This means that Saudi Arabia is in a really difficult position. Saudi Arabia may very well end up like Nauru if they do not watch it, which was once similarly wealthy and powerful because of its position as a nitrates exporter, essential to fertilizer. The problem here comes in the non-viability of all alternatives. There is no rule of law in China, and in fact, the corruption is so rampant that businesses report that 50-60% of what is supposed to be profit is typically spend on bribes, and everything changes on the whims of the dysfunctional Chinese Communist Party, which is full of bitter, twisted jealousy and resembles Imperial Dynastic Power Struggles, except more so. There is no stability in a system like that. The Ruble is effectively rubble anyway, so forget about Russia's promises to back the Ruble with Gold. Gold itself has become increasingly unstable in recent years in its value, so nobody really knows how to value it correctly.

Note that western bond markets are tanking because central banks are raising interest rates to curb inflation, which they have not done in many years in Europe, and two years in the United States. This naturally leads the price of existing bonds to fall significantly. I think that the prolonged period of super low interest rates has created a stronger shock than usual.

@alom_

2y↑3

Here in Brazil, the situation seems to be: "The war in Ukraine is really bad, but what if someday the US and UE came for us because they don't like our environmental policy". Some years ago Macron tried it to protect his country's agriculture sector.

@KOSMICxKLASHER2

I don't think you're getting the "Russia Treatment" for burning rain forests bruh.

@alom_

2y↑1

@@KOSMICxKLASHER2 probably not in the short term. But people here can see it becoming reality in the long term if some powerful guy wants it. But that's what the situation seems to be from here.

@KOSMICxKLASHER2

@@alom_ Why would you think it's more probable in the long term? I would have the thought the opposite. The farther into the future you go the less likely conflict between nations is. I think we are heading towards world peace in the coming decades due to the exponential growth of automation and artificial intelligence and the subsequent resolution of much of the worlds problems as a result.

@alom_

@@KOSMICxKLASHER2 Because it takes some time to shape the public opinion to justify sanctions and even more time to justify war. Just like it took Putin some time until propaganda made ok to invade Ukraine at least to russians. The same thing can be done in the west, like Sadam's weapons of mass destruction.

And about the likelihood of war between nations: just because something is less likely to happen it doesn't mean it won't as the invasion of Ukraine shows. Sometimes leaders are willing to sacrifice their economy, people and more.
Let's just hope the Thucydides Trap doesn't work in the US-China case. That's a war I really don't want to see.

@islandman9619

2y↑6

As always good video. Turbulent times. Have no doubt, we're not seeing the death of the dollar as reserve currency yet, we're seeing the death of two authoritarian regimes in Europe. Keep in mind that US is not the only country printing money and bottom line is trust. The day when markets "trust" the CCP more than the US is when one might start to worry. Unless something drastically changes in China, this day won't come anytime soon.

@F1990T

Clown narrative.

@valeriangelov5592

Another great video, I love your videos can't wait for the next one.

@G8tr1522

perhaps the most important video you've published yet. Thanks.

@kriswelsh3844

2y↑4

I don’t agree with Gave. Why would due process be necessary when Russia publicly announced and admitted it was invading. An illegal invasion that Russia was warned would have significant consequences, but chose to carry out anyway.

@andrewemerson1613

2y↑12

what will happen is that the Dollar will lose a bit of market share to the Euro and Yen. bluntly because those are the only three currencies that are really trusted at a global scale. all of which are in the same political camp. the biggest divergence will be in oil... a strategic resource that most major powers are intentionally trying to need less of anyways, making that distinction less relevant over time. then the most important trade will be in semiconductors and intellectual property, markets dominated by powers that are "western" aligned

@CL_Hat

And TSMC, Samsung, Intel are investing over 100 billion into new US semiconductor/chip manufacturing facilities. Seems like the powers that be in the US, know exactly what is going on.

@andrewemerson1613

@@CL_Hat indeed. almost like the various powers that have been playing and wining the often times sick game of geopolitics are actually good at it

@baltulielkungsgunarsmiezis9714

2y↑1

Finally. Ive been thinking about this since the second week of the war, my comment about this can still be found on 1 of your videos.

@syjiang

2y↑1

Great video. The concern you raised are valid but it still seem doubtful the US dollar will lose its pre-eminence anytime soon unless the scale of the US economy just absolutely implodes.

I am curious to ask hypothetically if the US didn't use sanctions for decades, would the dollar standing in trade still erode slightly over time? US doesn't buy as much oil from the middle east so it make sense to me that the sellers would naturally look to engage more with their actual buyers (EU, China, India) in their own denomination.

What I am curious about is how the Saudi's plan to use the Yuan denominated payments in the future. Apart from consumer manufactured goods, what else can they import with it that they feel is of value? Chinese arms? It also seems to me they know that PRC cannot provide the security support that the US is able to (If US decide to continue engagement in the middle east). Anyone think they are playing to US fears to entice them to continue previous arrangements?

Use of sanction probably should be more restrained in the future. Not every two bit dictator deserve weaponization of finances but on this occasion with Ukraine it is very much needed to respond aggressively to the invasion without triggering WW3. Legally I hope US and europe don't just confiscate the frozen asset without careful due process. The damage to the rule of law would be profound and self-harming.

@chrisrosenkreuz23

2y↑8

"Sanctions have undermined trust in the dollar" - the author clearly has no understanding for how the world works.
The ONLY point of having a reserve currency instead of gold is that they instead police international order and keep the markets stable so as free trade can go on without the threat of war. You break the peace and attempt monopoly means you bring upon yourself the full might of that order, BEGINNING with sanctions. If you INTEND to break it then yes you should NOT have any trust in the dollar. Either way, the quote just shows the ignorance of the author. Otherwise, I see no point of a worthless fiat global currency without the trust that the global policing brings.

@arkheavyindutries

2y↑3

Maybe we will see the Euro-Dollar (€$) appear in our lifetime?

@satadenai9182

ahh, you mean eddies? :D

@BigBoss-sm9xj

Lol

@louis9116

Good and thorough video as always! Thanks for the content

@mcRydes

2y↑1

Many people have described the freezing and confiscation of Russian assets as “unprecedented.” However this is not the case! In fact, during WWII he US enacted even far more severe asset freezes and seizures. Current sanctions are currently as gentle as a kitten in comparison.

In any case, US Presidents have consistently sought a WEAK dollar policy, even if they have usually not succeeded. So if the dollar does enjoy an exorbitant privilege, it is often an unwelcome circumstance.

@The_Honey_Cake

2y↑3

What's the meaning behind the "Welcome to the twenties report"? What twenties report?

@GoodTimesBadTimes

2y↑14

20s is the decade we live in now:)

@The_Honey_Cake

2y↑1

@@GoodTimesBadTimes Ah, that's what I thought.

@theprotagonist8755

2y↑2

@@GoodTimesBadTimes do you run this channel by your self or is it alot of people behind the scenes? Just wondering because it's so well done.

@user-bd7hz1jh4t

@@GoodTimesBadTimes https://youtu.be/fy910FG46C4

@RealNameDre

2y↑12

The content on this channel never disappoints! 💯 As always a great retrospective! 😀👏👍

@dyzoly

Oh, so this is why it's so important to show images of Bucha 24/7!

@XaveRave

never miss a GTBT!

@arkad6329

2y↑28

China an Russia: “psst! How can we overthrow the US, and other democratic nations? I know, let’s use their money to boost our economy, make sure we are strong enough to invade sovereign states and rule over them.”

US: “I see what you’re doing there, and I’ll just seize your dollars and make sure you can’t use that to fund a war.”

Russia and China: “Hey! That’s not fair! I’m calling foul!”

@Omer1996E.C

2y↑5

Some are saying "what other choice do they have?" and "will they go to yuans?"
The answers are
They have gold besides other currencies and the usd.
And yes, yuan can be an alternative even to us allies, like Israel recently decreased it's usd reserves in favor to yuans, while saudi arabia will start selling oil in yuan to China and other states.

@marktamila5719

I beg you to write down soundtrack name at 2:14 and 3:10 for me

@vanhoot2234

what is the song called.

@MuffintopWarrior

2y↑14

There are a myriad of issues with the idea of the Exorbitant Privilege and especially with the idea that any other currency could serve as a means of international exchange.
Most actual economists argue that it gives the US very little actual advantage, and may actually be a hindrance to the US economy, as it keeps the USD artificially more expensive than it otherwise would be, which makes manufacturing in the US unusually expensive. The argument that it forces other countries to pay for US debts or US government expenses also doesn't hold much water as the US government doesn't get to keep the money it prints, it is distributed to various major financial institutions for lending, and the devaluation of US bonds over time due to inflation is figured into the cost of the bonds in the first place, they're priced to make a small return over the lifetime of the bond, not to make a return in every specific year in their period.
A lot of the complaints about the system come from people who think "valuable currency = rich country", but the price of a countries currency has very little impact on it's wealth, Japan is among the wealthiest nations in the world and it has an incredibly low value currency, while Greece is poor despite trading in high value Euros. You have to remember that the currency is only a medium of exchange.
The "no suitable alternatives" issues is also not something you can just gloss over, nobody can point to any currency that could possibly replace it, Russia is too unstable for RUS to ever work, China has capital controls and currency manipulation so RMB isn't viable, and the Europe is clearly not as stable as people may have wanted to believe given that the largest country in Europe is being invaded, so the Euro is not a great option either.
Despite this current period of unusual inflation the USD is still the worlds most stable major currency and it's unlikely businesses would be willing to expose themselves to additional risk just to trade in a more volatile local currency.

@AlexanderHL1919

2y↑26

Russia has an economy of $1.4 Trillion. Their opinion on this is invalid. The US has $22 Trillion and EU another $20 Trillion with other Western countries accounting for another $10+ Trillion. China is stagnating at $14 Trillion and facing major economic boomb busts in its near future. The Dollar is and will always be the world currency. Only viable rival is the Euro, but they seem happy to play along with the US since they need the US' military backing. The End of the Dollar Monopoly is an absolutely nonsensical proposition.

@Fangornmmc

2y↑5

Disagree. You cannot say "The <insert currency here> is and will always be the world currency." History is very much not on your side there. World currencies change all the time. We can argue about how much longer the dollar can hold out but there is no argument to be had whether or not the dollar will eventually lose that status, such a thing is (historically) utterly inevitable. That said, I'd be happy to hear it if you have a counter argument to make.

@alonglostmemory1908

2y↑1

China is 17 trillion* minor correction

@AlexanderHL1919

2y↑1

@@alonglostmemory1908 China GDP $14.7 Trillion. Where are you getting the $17 Trillion figure from?

@AlexanderHL1919

2y↑1

@@Fangornmmc Yes, the Dollar will be the currency of the universe until is heath death.. 🙄 I literally said the Euro is a viable contender, but you read whatever you want mate.

@elekkr

Especially that the china pigs economy is 60% locked up in non performing housing liablity assets and falling apart .the russky's are a big nothing who else? nobody . All the rest is shithole countries ... I rest my case

11 More Replies...

@fademasterfade227

2y↑2

Excellent work

@janentomenkafka

2y↑1

A hundred years ago, the pound sterling was the world's major reserve currency. Today it is the US dollar. Nothing is forever.

While countries/governments can decide to trade in a different currency for political reasons, commercial trading cares more about financial & economic stability. If you make a deal today and delivery/payment is next year, or you sign a long term contract, you want to be sure that the currency you will receive is still worth what it is worth today. So I guess the dollar will remain a widely used reserve currency in the coming years. Let's not forget the US is still the biggest economy in the world. That also helps.

It is indeed a privilege if the whole world uses your currency. It means that everybody with excess dollars buys US bonds and/or invests in the US. It also means the rest of the world is paying for what the Americans buy on credit ;-)

The downside is that a highly priced dollar price makes American exports expensive.

@BigBoss-sm9xj

True true

@benjif2424

2y↑9

The problem with looking at the problems is not analyzing the opposition enough.
Ukraine has shown the US still is the #1 military power. And it showed how many key nations stand behind the US.
The dollar profits of some of these points, but it mainly profits from how lousy most other currencies are. Brexit broke the Euro somewhat, China has a huge problem with the elderly coming up, India can't get its shit together (and instead are sprinting downhill) and Russia lost in its own roulette.

@defective6811

2y↑10

Saudi Arabia is not an American ally, it is an American client state. Fewer legal codifications exist for client states than for allies, and there is typically a wider gulf of values between client/sponsor than between allies and that is also the case here.

The Saudis are just shopping to see if they can get a better sponsorship deal.

@misty671

Does America have allies? Nations are either rivals or client states to 🇺🇸. Writing from 🇨🇦

@johnl.7754

Saudi doesn’t like Biden because he criticizes them on the killing/Yemen which is bad but I think overall the new king is better then previous Saudi kings in being more open to women in his country and less conservative overall and that Saudi is still a better country then Iran who is surrendering them with Iraq and now Yemen.

@defective6811

@@misty671 Canada is definitely a client state, unfortunately. While I'm sure a lot of my old professors would cringe at me discarding the legally binding aspects of international contracts, the reality is that the primary difference between clients/sponsors and allies is comparative power. Peers, near peers, and strategic partners are allies. Anything you don't want to risk taking for granted, that needs an alliance. Anything else, that's a client/sponsor relationship. Canada's position next to the US precludes them seeking a better sponsor, and their lack of comparative power precludes them being an ally - even if they are legally an ally of the US.

@gamer228r

Evil America at it again 😂😂💀😭😭😭😭😭😭😭😭😭😭😭😭😭😁

@alexvin261

2y↑1

We confiscated all their money "BECAUSE WE DON'T LIKE THEM". What a reason!

@userasdf1546

2y↑1

I like that slip of the tongue, ruble and rouble

@diffore

2y↑7

I mean, Russia ignored all international laws and do war crimes, why would US ignore it and not use this soft power... If not the nukes, us would probably helped military as well

@harrydehnhardt5092

2y↑1

The USA decides for itself what is valid in international law and what is not. In the past, double standards have often been applied here. I do not want to defend Russia's in any way. But Laws are valid for the US only if it is advantageous for the US. And that is a problem for it’s own credibility.

@diffore

2y↑1

@@harrydehnhardt5092 I am pretty sure that direct aggression acknowledged by majority of UN votes and military invasion of sovereign country is a valid law for everyone who is already using dollar.

@guitarhero0000

2y↑4

FIRST!!!!!!!!!!!!!

@silverline4131

2y↑1

Then why is the value of the Dollar raising, I'd
like to see it come down. With all this inflation and
sanctions, I don't see a reason for it's run up
the past couple months.

@wilhelmheinzerling5341

2y↑1

Never before has we (humans) have scene such a large amount of currency flooding the US and exchanging them for dollars or gold

@BigestBubbler

2y↑3

USD rules still following the "rule of law" when confiscating Russian accounts. International law. Russia has huge debts building in Ukraine and also to repay the allies supporting the defense of UKraine. After covering the "damages" done by their invasion, I'd say following the law means the leftovers, if any, should go back to Russia. I'd be surprised if enough has been confiscated so far. And, if you are a fan of the rule of law, maybe you can explain the concept of sovereignty to Russia. It is rather well established as laws go.

@joenichols3901

2y↑2

Louis-Vincent Gave : That is not a correct statement. Russian oligarchs were free to do whatever they wanted in the global system, without interference (such as London real estate) until Russia broke the law. Russia has committed hundreds of war crimes, attacked a soveriegn nation, started the largest war since WW2 and threatened nuclear retaliation against all of Europe/US. That is what breaking the law means. Same with Chinese firms who support the concentration camps - we specifically sanction them as they are breaking the law. To operate in the global order you must abide by the rules or the entire system will fall apart anyways. Plus, dummy, the oligarchs can have their money back once the war is over and Ukraine is back to as it was and that is why we are not liquidating the Russian assets of oligarchs; we are temporarily confiscating them. We sanctioned Russia equivalent to the law breaking committed - they annexed Crimea in 2014 and we applied much less significant sanctions. Russia started the largest European war since WW2 and threatened nuclear retaliation to our homeland - so we simply responded to that same level. The sanctions level is unheard of because a war of this size is unheard of. This is a terrible take. What you want to replace with? The yuan ? You would rather hold money of an authoritarian, communist, ethno-state running concentration camps on its own people? Who has used debt traps around the world? This whole argument is ridiculous. Please stick to the war. I am an avid reader of Zeihan and others; this is a terrible take. Actors such as China and Russia do not want to change the reserve currency; they want to destroy the system in its entirety. Any reader of history know that means billions of people will suffer the likes of which our generation has no clue of. Technology, liberalism, human rights, democracy, freedom of religion.... none of these will exist without a Western lead order (the US is nothing without its allies and acquaintances). Check the UN resolution on this to see if the smaller nations, which are by far the second most important players in this conflict, and see if they want to return to before the global order. The US is a far off hegemon. The US has representatives of all peoples - chinese, european, russian, ukrainian, african, australian, and so on. I am genuinely disappointed in this video. It is clearly click bait.

@jfltech

2y↑1

The only way I see out of a dollar/Euro dominated reserve currencies would be to adopt a world wide sovereign currency that isn't able to be controlled by any government..

@Gavanater7

2y↑3

I hope the US can maintain the dollar and stay as a superpower overcoming it's trials and turbulations maintaining its world currency status.

@92HazelMocha

Why? Americans are starving and being evicted whilst yet another war unfolds killing thousands. The status quo is awful and the US's time as a superpower has been bad for everyone everywhere.

@BigBoss-sm9xj

2y↑1

I hope so too

@yopyop3241

2y↑5

Note that the “privilege exorbitant” is mostly only for the rich CEO and investor class. It allows them to cheaply set up factories and shift jobs overseas which leads to bigger corporate profits. For the typical American, “privilege exorbitant” is definitely a misnomer, as the dollar’s strength manifests mostly in lower wages and higher unemployment.

@johnl.7754

2y↑2

It matters for both since if you think inflation is bad now then look at how bad it is in countries where there is weak currencies there will be even higher inflation.

@tanostrelok2323

2y↑2

If you think a strong currency is bad you can always take a look at Argentina.

@yopyop3241

Moderation. As in most things in life, the sweet spot is the middle. In this arena, Argentina is too far off to one direction, while the US is too far off in the opposite direction.

@luiul1

that guy who asked, "why should european countries transactions be settled in dollars? why not settle them in local currencies?" oh. i don't know. because that is what caused WWII. currency manipulation was rampant on the continent. and not just with germany. maybe germany could settle its transactions using trucks full of DM.

@mauritsbol4806

Ooph, this looks to me like a geopolitical strategic blunder in the heat of the moment rather than a carefully and planned thought out strategy by the US. i would love to write a paper on this.

@SuperPizzaman55

2y↑3

That video was dumb and shouldn't have occupied so much of this. He was playing a devil's advocate really... neglecting to forget at that the rule of international law was *always*: A. Unenforceable within anarchy; and B. As such, its legitimacy is entirely dependent on states' own respect for it, which Russia disregarded first...

@lorax8172

2y↑9

"All get the same treatment in the court of law"
As an American he lost credibility with that statement, as this is not the actual case in practice

@LSgaming201

2y↑1

I mean it sort of is. We fuck everyone equally. Except a small group of the hyper rich.

@chickenfishhybrid44

2y↑4

Compared to alot of other places it's pretty good sadly.

@KOSMICxKLASHER2

Who gets different treatment?

@lorax8172

@@KOSMICxKLASHER2 mainly a rich/poor difference, and then a racial difference.

@nebulaone908

2y↑1

@@lorax8172 That's very rare. US has a very good, stable judicial system. People who say otherwise are spoiled Americans who have not faced anything hard in the world. Third and second world countries are 10x worse.

@anndreiigmail

2y↑2

I see nobody here talking about going green very very fast, witch all these conflicts brings up to the table. It might be that soon we won’t care about oil and gas ….

@Rocketsong

2y↑1

A key driver of this conflict is that the German Green Party (and associated anti-nuclear movement) is a bought, purchased, and owned asset of Russia. As a result, Germany shuttered their modern, safe, and actually green nuclear plants and massively increased their reliance on Russian natural gas. Worth every ruble Putin spent as far as he is concerned.

@crzmicky

2y↑4

First

@KRawatXP2003

2y↑1

grrrrrrrr

@YleXar

lol

@Butter_Warrior99

2y↑4

Personally I believe this is just one more nail to add on to Pax Americana. After the definite end of the Pax, expect more conflicts to flair up, both domestically and abroad.

@Butter_Warrior99

@UCTCoJqNPDVpckFps8pGl5DA, I’m merely stating the idea that this is possibly one of the many nails to come. Things here in the US are tense, it has been tense. I can only hope for the best, but prepare for the worst.

@johnl.7754

The main thing keeping US dollar up vs the other developed countries and China is that they have even bigger problems (like older population, lack of oil/gas) or and printed even more money (Europe/Japan)

@arthurbuglas8346

One thing I will say is the conflict between morality & economics doesn't bug me as much in this case. My biggest issue is when nations preach morality but then choose the best economic choice. I am totally okay with U.S. having even more competition and the world becoming a bit more divided because I think it's more important we live by our morals than have some more money. Maybe it's idealistic of me but it always bothered me when we gave certain countries moral passes (such as China for their treatment of Uighur's) because they're rich and provide us a great market. We either live and pay for our morals or we shut up and be like how Germany wishes to be, focus everything on pure economics.

@kazeryu4834

2y↑1

I’m not particularly concerned. It’s not just that there are no viable options now, but that there will be no stable options in the future. De globalization is already well underway and the effects of that will only strengthen the US and by extension the dollar. Other nations can decide whether they want to capitalize on that or not

@oo--7714

2y↑1

Dude it's going down

@JJ-io4pe

2y↑1

The problem is that there is no other currency remotely close to the same stability. There really is no alternative. A reserve currency is not just for transacting, it is for holding funds and knowing they will be stable. Crypto as of yet does not do that neither does any other currency.

@richl6995

2y↑1

A country cannot have a reserve currency and be a net exporter economy. By definition, you need to import so other countries hold your currency. Being the reserve currency has privileges and burdens. Only the US is willing. China, Saudi Arabia, Japan, Switzerland, Germany, etc. would never agree to hurt their exports and increase their imports. The author conflated sanctions with reserve currency.

@BigBoss-sm9xj

Good point

@nathangale7702

International currency markets always confuse me. Thanks for the clear video.

@lucasglowacki4683

2y↑1

DXY still pumping like crazy thou🤷🏻‍♂️

@opliik

2y↑1

I think we will move towards a world where the US dollar will loose some of it's status as the reserve currency, but I don't think there will necessarily be any other currency that will take over the role.

It's likely we will move towards a system with many currencies with some dollar dominance.

This is much easier today than it was in the past. Modern banking systems integrate fee less market price forex, easy to use multi currency accounts, and even crypto currencies.

@kukulroukul4698

true

@kukulroukul4698

but even for the americans... its way too ADVANTAGEOUS not to be held responsible at every corner in every occasion... They may indulge in parasitising other economies with greater effectiveness under a weaker dollar . More KANSAS like heists available this way

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