Military Review

British press: Dollar will reign for a long time, but not forever

57

There are fears that the dollar will cede its place as the world's main reserve currency to someone else. This idea is prompted by the weakening of the US currency this summer.


Writes about this British edition of The Economist.

The dollar lost about 4 percent against other reserve currencies. At the same time, there was an increase in the euro exchange rate, as well as in the prices of gold and even bitcoins. The depreciation of the dollar occurred concurrently with a surge of unrest in American cities. Failure to cope with the coronavirus pandemic, uncertain recovery from the economic crisis, and rising national debt raise doubts that the United States will continue to play the role of global hegemon.

But the dollar's shaky position does not mean that its economic power is lost, and America can be written off. And the US currency has no competitors yet capable of taking its place. During its short life, the euro has already experienced several crises that endangered its existence. And the Chinese financial system is too closed off from the outside world for the yuan to become the world currency. Therefore, although there are many questions to the US dollar, there are even more questions to its closest competitors.

In addition, the power of the dollar is closely tied to the geopolitical order created by America. In the meantime, it remains unchanged. Although the US share in the global economy has declined, it is still the largest. Therefore, the leading role of the United States in the world can ensure the dominance of the American dollar for many years to come, although this situation may change over time.
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  1. rocket757
    rocket757 16 August 2020 20: 25 New
    +2
    So the old / new gold equivalent .... but it's hard, then what to do with the bucks? There are not just a lot of them in the world, there are very many.
    In general, they speak very carefully about the prosperity of the dollar, but they say so for its replacement even more carefully.
    1. Shurik70
      Shurik70 16 August 2020 20: 50 New
      0
      Well, everyone needs some kind of "international" currency. And that means - it will be.
      The dollar is "running out". So it will be replaced. And, most likely, not tied to a separate currency, but a cryptocurrency. A certain "international" banking clan, and in fact - created by the current banking clans, will be the cover.
      You can earn a lot on this. This means that all banking clans will actively help the dollar's fall when it happens.
      1. rocket757
        rocket757 16 August 2020 21: 17 New
        -3
        Cryptocurrency has recently "shot" dashingly! So there is a request for a settlement system that is not controlled by minke whales!
        What it will be, by whom it will be controlled, and so on, so on. Let's see, the matter is not quick and the agreement will not be measured there!
        1. akunin
          akunin 17 August 2020 08: 14 New
          0
          Quote: rocket757
          So there is a request for a settlement system that is not under the control of minke whales!

          there is a belief that it is not controlled by the striped ones? any cryptocurrency works if it is recognized by the main players. there are many cryptocurrencies, but bitcoin rules, why would it?)
          1. rocket757
            rocket757 17 August 2020 08: 27 New
            -1
            I DO NOT APPROVE anything, I propose to look, think and make REASONABLE CONCLUSIONS!
            In our world, nothing remains without someone's control !!! the question is, what will we consider ACCEPTABLE for ourselves ???
            1. akunin
              akunin 17 August 2020 08: 42 New
              +1
              Quote: rocket757
              what we consider ACCEPTABLE for ourselves ???

              whatever we consider it does not really matter, we are the 11th-12th economy in the world (even if we switch to calculations in Mongolian tugriks).
              1. rocket757
                rocket757 17 August 2020 08: 54 New
                0
                And what, we cannot accept for ourselves what we need?
                And about the places in the table of ranks in the world ... all the calculations are very inflated and whenever it will all burst! then it won't matter what rating they gave you, it will be mainly MATERIAL !!! what to eat, what to drink .... and can you PROTECT yours!
                1. akunin
                  akunin 17 August 2020 09: 19 New
                  +2
                  Quote: rocket757
                  and whenever it all bursts! then it won't matter what rating they gave you, it will be mainly MATERIAL !!!

                  someday
                  all this rests against, from the material in the country (not with you and me) there are minerals, industry and science in the priest (gold in the bins does not solve anything).
                  1. rocket757
                    rocket757 17 August 2020 09: 40 New
                    0
                    Is that all?
                    You will be very surprised if \ when you get out from where there is such a "wide view", although maybe this is not a limited view, but perception ... that is. Then you won't be surprised ...
                    1. akunin
                      akunin 17 August 2020 10: 25 New
                      +1
                      Quote: rocket757
                      not limited review, but perception ...

                      there is a subjective perception (yours or mine, it does not matter), but there is an objective reality that does not depend on how you or I perceive it subjectively. we had an industrial city, and now half of the enterprises are not working or not full employment, some of the enterprises are steel shopping centers (some of them were piecemeal even in the ussr), I see this from the window and every day going out into the street. what rating can we talk about, rating one - ass. maybe you live in a happy and prosperous russia (it is probably somewhere beyond the horizon), but I live in ordinary Russia and I drive around it and everywhere the same thing.
                      1. rocket757
                        rocket757 17 August 2020 10: 41 New
                        0
                        I live in the same Russia as you ... a lot of problems, but only one plant was closed, by the way, the one where I worked for many years. The plant is just from the industry with which we are not at all good !!!
                        We have a large industrial center, about two dozen large enterprises ... they work, not without problems, but certainly better than in many other places.
                        About agriculture, you can say this ... there are no more collective farms / state farms, but there are plenty of products from local farmers, agricultural holdings, and just from enterprising rural workers. It is difficult, but who exactly works, does not suffer, although does not fatten.
                        Something like this with us ...
                      2. akunin
                        akunin 17 August 2020 10: 59 New
                        +2
                        we take from you, we take from us and get the average for the hospital. in our region even 2 distilleries closed (one of them worked for over 100 years and supplied alcohol to the highest table) and several poultry farms + a zone of risky farming, but there are places in Russia where it is even worse (and you say: "material ...").
                      3. rocket757
                        rocket757 17 August 2020 11: 15 New
                        0
                        On average, it is now more difficult to find out / check in a hospital, because you yourself now find out from hearsay ...
                        in our large department there is almost a normal temperature, in the next one, one or the other is no worse ... but the "hospital" is so big!
                      4. akunin
                        akunin 17 August 2020 15: 18 New
                        0
                        Quote: rocket757
                        but the "hospital" is big!

                        so we come to the point that "material" turns into "immaterial", and a large hospital turns into bedlam
                      5. rocket757
                        rocket757 17 August 2020 16: 51 New
                        0
                        Quote: akunin
                        so we come to the point that "material" turns into "immaterial", and a large hospital turns into bedlam

                        But this is a very approximate statement, only statistics can confirm / deny this!
                        But we are very careful about official statistics, and even worse about unofficial ones.
                        It turns out in our dispute at the moment, for certain, neither there nor syudy.
                        Time and events will show what and how it really is.
                      6. akunin
                        akunin 17 August 2020 18: 58 New
                        0
                        Quote: rocket757
                        Time and events will show what and how it really is.

                        tooting hi
  • Victor_B
    Victor_B 16 August 2020 21: 03 New
    11
    Quote: rocket757
    In general, they speak very carefully about the prosperity of the dollar.
    Buried the dollar again ...
    There is already a shortage of accordions!
    1. rocket757
      rocket757 16 August 2020 21: 19 New
      +1
      Rumor has it here and there!
      These rumors circulated before, how long this will last, no one will say for sure ... although they will not say approximately either.
    2. Mountain shooter
      Mountain shooter 16 August 2020 21: 39 New
      +4
      Quote: Victor_B
      Buried the dollar again ...
      There is already a shortage of accordions!

      If there is doubt, there is no doubt! A real doubt about the strength of the dollar will cause a catastrophe on a global scale without fools!
      1. RUnnm
        RUnnm 16 August 2020 22: 55 New
        +1
        And what's wrong with it, globally? Now, the US economy is a virtual non-industrial bubble. What will be bad if the economy returns to an emphasis on industrial production? It’s only a matter of time before the bubble bursts. You understand that even interventions in precious metals are being done for a reason.
      2. rich
        rich 17 August 2020 03: 39 New
        0
        British press: Dollar will reign for a long time, but not forever

        You can't argue with her here - nothing lasts forever under the moon
        Mountain shooter (Eugene): A real doubt about the strength of the dollar will cause a global catastrophe without fools!

        Stephen Roach, Senior Fellow at Yale University and former Chairman of the Board of Directors of Morgan Stanley Asia, in an interview with MarketWatch gave his forecast: “The collapse of the US dollar is inevitable and unfortunately not too distant. I am convinced that it will happen before everyone expects. " The end of the US dollar's dominance as a reserve currency is an event that will hit the global financial market very hard. "
    3. UserGun
      UserGun 16 August 2020 22: 10 New
      -3
      Hey-hey !!! Right now they will get drunk with more beer and vodka and will sell a ruble for two)))
  • RUnnm
    RUnnm 16 August 2020 22: 44 New
    +2
    With regard to "long" - a relative concept. To whom a year is long, and to whom a century is not enough.
    Judging by the reports of MasterCard, Visa, the share of settlements in dollars is decreasing by 0.5% per year. But we draw attention to another trend - the strengthening of the euro and, accordingly, there is an analogue of the multiplier effect, in which investments in euros will grow not with an arithmetic, but with a multiple. progression. Swift could provide more accurate and interesting information, but there is still silence.
    And another factor that may affect the dynamics of the departure from the euro is the prevalence of the non-manufacturing sector in the US economy and the high cost of industrial production, which makes the US economy more vulnerable. It is not for nothing that this year real GDP of states is falling much more than other countries - 30 +%
    And now no one will name the timeframe for leaving the dollar - there are a lot of factors whose influence cannot be summed up.
    But, I think, during our lifetime there will be many interesting things ...
    1. Alber alber
      Alber alber 16 August 2020 22: 59 New
      +3
      The same trend, but with a plus sign, can be seen in the yuan, and even more in the digital yuan, although this statistics cannot be learned from Swift, and of course the effect of a low base
    2. aybolyt678
      aybolyt678 17 August 2020 17: 51 New
      0
      Quote: RUnnm
      But pay attention to another trend - the strengthening of the euro

      Doesn't the Euro exchange rate depend on a certain amount of Treasuries in their stores ???
  • The comment was deleted.
    1. Region68
      Region68 16 August 2020 20: 30 New
      +1
      According to them, "the dollar is not backed by anything."
      1. paul3390
        paul3390 16 August 2020 21: 17 New
        +9
        It is not a matter of security as such, but of its availability for all participants in the trade. While she was such - everything was fine with everyone, well, you need to trade for something? But the Americans went too far, and began to impose numerous sanctions and other nasty things on everyone who came to hand. In this connection, dealing with the dollar has become unprofitable, and simply dangerous. Why would anyone need him then? If you can't pay them with whoever you want? Or buy what you want from whoever you want? And only with permission from Fashington .. Why is this type of world currency? I'm already silent about the epic US debt and other delights ..
      2. aybolyt678
        aybolyt678 17 August 2020 17: 55 New
        +2
        Quote: Region68
        According to them, "the dollar is not provided with anything"

        it is more secured with oil rigs in Africa and calculations in it than industrial production in America.
        And also by its presence in banks of other countries
    2. Vasyan1971
      Vasyan1971 16 August 2020 20: 51 New
      +3
      Quote: Reagan's Ghost
      I've already lived half my life

      Reagan's ghost managed to live half his life? belay
      1. Reserve buildbat
        Reserve buildbat 16 August 2020 21: 30 New
        +3
        He just doesn't hope to live more than 30 years. laughing
        1. Vasyan1971
          Vasyan1971 16 August 2020 21: 46 New
          +3
          Quote: stock buildbat
          He just doesn't hope to live more than 30 years. laughing

          But he's a GHOST! wassat
          Or is he an impostor? ... belay
        2. Ross xnumx
          Ross xnumx 17 August 2020 03: 29 New
          +3
          Quote: stock buildbat
          He just doesn't hope to live more than 30 years.

          Quote: Vasyan1971
          But he's a GHOST! Or is he an impostor? ...

          There is an episode from a wonderful series:

          And not for the record, but so - for love and friendship:

          You can talk about the fall and collapse of the dollar when your own currency is not its derivative and does not depend on the prices of raw materials that are sold in dollars ... yes
          You are here on the site "ask around" the natives from the Middle East sample 1948 ( wink ) Which country's currency do they prefer this (and any other) time of the year? And then "chuckle" over the agony of the dollar and over the lifespan of ghosts.
          It's time to grow up. It's time to live reality, not fairy tales uncle Remus aunt Elvira Sahip-zade. Perhaps one day the dollar will cease to be what it is today (like the pound sterling at one time, like other "hard" currencies), only this raises the question:
          IN WHAT STATE WILL THE RUSSIAN RUBLE WILL BE IN THIS?
          Will the prophecies of Mikhail Evgrafovich come true in this case:
          It’s nothing that in Europe they give one fifty dollars for our ruble - it will be worse if they give in our faces for our ruble.

          hi
          1. aybolyt678
            aybolyt678 17 August 2020 18: 01 New
            -1
            the world needs a standard, for this standard the world puppeteers very skillfully substituted a dollar. Although the dollar itself is not a standard for anything. The rates of oil, gold, melalls ... etc. float relative to it. I think if some country can offer a standard, for example, an energy ruble (a ruble is equal to a kilowatt), then this currency will become the most popular. Just not to repeat Libya
    3. ccsr
      ccsr 17 August 2020 11: 18 New
      -5
      Quote: Reagan's Ghost
      The USSR managed to collapse earlier than the dollar what are we talking about ???

      You probably overslept the moment of refusal from the gold backing of the dollar - by the way, during the Soviet era, it happened before Reagan, and this fact alone suggests that the dollar is not omnipotent. So the people are worried not about the dollar, but about the collapse of world trade, if the United States suddenly abandons its obligations with respect to the dollar, and they reform it. By the way, something similar has already happened during the unification of Germany, when East Germans changed their marks to Western ones at one rate and a certain amount, and to all other owners of eastern marks at a lower rate. So watch your hands - the Americans can do this trick at home, and then the US citizens will not suffer with the "new" dollar, but the rest of the world will be fooled by the huge amount of cash and large dollar bills. When this will happen, I cannot predict, but this option has already been thrown in by some analysts even in the West - apparently, some people there are seriously thinking about the future fate of the American currency, which is why the fuss with the euro and gold began.
      1. aybolyt678
        aybolyt678 17 August 2020 18: 13 New
        0
        Quote: ccsr
        By the way, something similar has already happened during the unification of Germany, when East Germans changed their marks to Western ones at one rate and a certain amount, and to all other owners of eastern marks at a lower rate.

        how will this affect the oil trade? what will be the calculations? smile And the same thing happened quite recently, when the oil collapsed? Tankers went to America regularly, the volumes of purchases were impressive. Why destroy the dollar if you can take turns to destroy gold, then oil, then metals ??? After all, the dollar is not a standard for anything, it is itself a standard
        Quote: ccsr
        and there some people are seriously thinking about the future fate of the American currency,

        it's just the boat swaying, then a collapse is predicted, then growth, people rent green pieces of paper, pay for them laughing The dollar is provided by the economy of the whole world
        1. ccsr
          ccsr 17 August 2020 19: 07 New
          -6
          Quote: aybolyt678
          how will this affect the oil trade? what will be the calculations?

          Yes, even in gold (as a guarantee of payment from the buyer's state), even in yuan, even in Swiss francs - this is a purely technical process.
          Quote: aybolyt678
          After all, the dollar is not a standard for anything, it is itself a standard

          The Roman Empire also had gold coins as a standard, but this did not save Rome from the collapse and degradation of the economy.
          Quote: aybolyt678
          The dollar is provided by the economy of the whole world

          You don't seem to have noticed that China is now the first economy in the world, and they tolerate the dollar for the time being. The dollar awaits the fate of the British pound - China won the economic war against the United States, and this is recognized by everyone who understands the difference in the material supply of currency and virtual bank accounts, which are not backed by anything. By the way, China has already begun an experiment with government provision of digital currency - here's the first nail in the coffin of the American dollar.
          1. aybolyt678
            aybolyt678 17 August 2020 20: 47 New
            0
            Quote: ccsr
            The Roman Empire also had gold coins as a standard, but this did not save Rome from the collapse and degradation of the economy.

            Rome was fond of wars, and war is like resetting the economy. Every time the ball is in the middle of the field, so there was no development. Plus the depraved lifestyle of the rulers ...
            Quote: ccsr
            China is the world's first economy and they tolerate the dollar for the time being.

            the quantity and quality of scientific centers in China has not yet reached the level of America.
            1. ccsr
              ccsr 18 August 2020 12: 24 New
              -1
              Quote: aybolyt678
              Rome was fond of wars, and war is like resetting the economy.

              And Washington has long been fascinated by this, which means that the fate of Rome awaits it.
              Quote: aybolyt678
              the quantity and quality of scientific centers in China has not yet reached the level of America.

              I agree with this, but science is financed by the real sector of the economy, because it is material production that is the main customer for science, and not the banking sector. So, the Chinese economy will be quite possible to pay for the work of such centers and receive dividends from the implementation of their scientific developments, if it does not build its centers. Take a closer look at the Chinese lunar programs - they have gone far ahead in this, and without the help of the Americans, that's for sure.
  • Vladimir_6
    Vladimir_6 16 August 2020 20: 29 New
    +2
    In addition, the power of the dollar is closely tied to the geopolitical order created by America.

    By the way, about the geopolitical order.
    "Former Assistant to the US President for National Security John Bolton believes that the head of the White House, Donald Trump, may announce the US withdrawal from NATO before the elections scheduled for November 3. He expressed this opinion in an interview with the Spanish newspaper La Razon, TASS reports."
    https://total.kz/ru/news/mneniya/tramp_mozhet_obyavit_o_vihode_ssha_iz_nato_do_viborov__bolton_date_2020_08_16_16_11_12
    1. nPuBaTuP
      nPuBaTuP 16 August 2020 21: 25 New
      +2
      This John is still that talker ...
      He talked a lot more than once ... and everything seemed to fart into a puddle ...
      1. Vladimir_6
        Vladimir_6 17 August 2020 10: 28 New
        +1
        Quote: nPuBaTuP
        This John is still that talker ...
        He talked a lot more than once ... and everything seemed to fart into a puddle ...

        Joe Biden spoke about the collapse of NATO
        If Donald Trump wins the 2020 US presidential election, the North Atlantic Alliance will cease to exist. This was during the debate of the Democratic Party, said former Vice President Joe Biden. The broadcast was hosted by CNN.
        “If he is re-elected, I promise you, there will be no NATO. We will all have real problems, ”Biden said.

        And Macron, if you remember, declared about NATO brain cancer.
        So everything can be.
  • Vasyan1971
    Vasyan1971 16 August 2020 20: 50 New
    0
    And the US currency has no competitors yet capable of taking its place.

    The key word is bye.
    1. 2 Level Advisor
      2 Level Advisor 16 August 2020 21: 01 New
      +5
      Vasyan, the key word "WHY" .. why does the whole world and the Russian Federation buy dollars and government bonds, do we get money into the economy of the enemy investing? another article about NOTHING and what will happen if someday cancer hangs on the mountain ...
      1. Vasyan1971
        Vasyan1971 16 August 2020 21: 44 New
        -2
        Quote: 2 level advisor
        keyword "WHY"

        And the answer is simple: PATAMUSHTA. wassat
        Well, or, if you like: 42. wassat
        While it is profitable for one reason or another, they will buy. They do not force me ... wassat
  • The leader of the Redskins
    The leader of the Redskins 16 August 2020 20: 58 New
    +4
    The dollar will reign for a long time, but not forever
    Brilliant! That is, the formula "Nothing lasts forever under the moon" still works ?!
    Thank God! Still a little bit of specifics ... With dates ... And then I have a thousand there for a rainy day, when to "reset" and what to change?
  • Pandiurin
    Pandiurin 16 August 2020 21: 22 New
    -1
    British economists predict everything exactly and the American and European currencies as a result of that ...

    Only pound like a bun
    and escaped from the dollar and the euro * b.
  • A. Privalov
    A. Privalov 16 August 2020 21: 46 New
    +4
    - Fedya, did you hear what people say? The dollar, it turns out, is falling.
    - Vasya! Yes, so that you have everything stood as he falls.
  • lpc8
    lpc8 16 August 2020 22: 42 New
    +1
    The dollar lived, the dollar is alive, the dollar will live, everything according to the capital of Karl Marx.
    1. aybolyt678
      aybolyt678 17 August 2020 18: 16 New
      0
      Quote: lpc8
      The dollar lived, the dollar is alive, the dollar will live, everything according to the capital of Karl Marx.

      According to Capital, with an increase in labor productivity, the working day should be reduced, a person should spend more time on creativity. But in reality, there is more work, and you just want to have fun
  • And why do you need
    And why do you need 17 August 2020 00: 53 New
    0
    It seems that our "talking heads" have moved to a new homeland. Now from foggy Albion they will broadcast about the imminent collapse of America
  • Kelwin
    Kelwin 17 August 2020 02: 49 New
    -1
    You just need to make a hole in the place of one vile island, then everything will happen by itself.
  • Gennady Fomkin
    Gennady Fomkin 17 August 2020 03: 31 New
    0
    -Abram, where do you get the money?
    - in the nightstand ...
    - and who puts money in the nightstand?
    - Sarah ...
    - and who gives money to Sara?
    - I am...
    - Where do you get the money from?
    - from the bedside table ... laughing
  • AML
    AML 17 August 2020 10: 18 New
    0
    Quote: rocket757
    Cryptocurrency has recently "shot" dashingly! So there is a request for a settlement system that is not controlled by minke whales!
    What it will be, by whom it will be controlled, and so on, so on. Let's see, the matter is not quick and the agreement will not be measured there!


    Out of control, are you serious? There are now entire farms that perform confirmation operations faster than over a normal network. I'm already silent about leaky encryption algorithms, well, like leaky, for those who need leaky ones. Well, as usual, controversial issues are considered within the jurisdiction of the United States. There have already been precedents when hackers were truthful, arguing that the method by which the cryptocurrency was taken away does not contradict the algorithm. A striking example of this is the BTC fork.
  • iouris
    iouris 17 August 2020 19: 34 New
    0
    This world will last for a long time, but it will not last forever.