don't worry. I am sure they have Janet Yellen on the case and all is well.

Thanks much, Jean cutworm!

We're pretty boxed in right now. Massive debt and massive interest of the debt and all the wrong policies to fix it because all the wrong people are in control, making decisions to line up with their agenda and to self enrich (stay in power/get votes) NOT to do what's best for the United States.

We've been reading/hearing about this being a potential crisis for decades and its become the "Boy that Cried Wolf" syndrome.

BUT THE WOLF IS COMING and THIS wolf can't be chased away after it arrives. 

Our policy to have a war with Russia which is an ally of China/Brics countries is helping to motivate other countries to divest from the US Dollar and other investments.

 May 15, 2024 

Consider This: Will BRICS+ dethrone the US dollar?

Given the recent expansion of the “BRICs” countries to include five new members, will the US dollar remain the world’s reserve currency? Franklin Templeton Institute’s Kim Catechis looks at the implications for investors.

Key takeaways:

• The loose grouping known as BRICS (Brazil, Russia, India, China and South Africa) has demonstrated a higher degree of geopolitical ambition and doubled in size this year by accepting five new members (Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates [UAE]).
•  
• The composition of “BRICS+,” its increased scale and the inclusion of heavily sanctioned regimes make it look like an explicitly anti-G7 grouping with potential to disrupt global economic activity.
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• The factors mentioned above raise investor concerns around the ability of these countries to undermine the role of the US dollar as the world’s reserve currency, but the situation is complicated.
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• There should be no doubt that the BRICS+ group aims to undermine the dominance of the US dollar, but the degree of commitment varies between Russia, Iran and China’s ambition, and the less-committed countries such as India and the UAE, where the preference is for their own currencies to take a bigger share. For Brazil and South Africa, settling trade with their biggest partner (China) in renminbi (RMB) is sufficient for now.
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• The group’s combined fossil fuel production is equal to approximately 40% of global oil production, but because China, India, Russia and Saudi Arabia are also big consumers, BRICS+ represents 22%³ of the world’s export market volumes.
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• The creation of the New Development Bank (NDB) as an alternative lender to the World Bank and the International Monetary Fund (IMF) affiliates suggests a desire to supplant the established multilateral institutions.
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• The creation of alternative financial transactions platforms is at least partly aimed at insulating these countries from potential financial sanctions in future.
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• It seems prudent to assume that these efforts continue to gain traction, effectively ringfencing economies from the established “Western” financial ecosystem of Society for Worldwide Interbank Financial Telecommunication (SWIFT) and Clearing House Interbank Payments System (CHIPS), as well as an attempt to use alternative currencies for intra-BRICS+ trade, other than the US dollar.
•  
• Investors have a fiduciary duty to regularly re-evaluate the possibility that this trajectory eventually leads to a reduced appetite globally for US Treasury bonds, while the likelihood remains extremely low at present.
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• These are the principal signposts for investors to watch for: 
  •   
  • The development of alternative “financial plumbing” systems like Cross-Border International Settlement System (CIPS)
  •   
  • The level of acceptance of the RMB in intra-BRICS+ trade
  •   
  • The evolution of cross-border wholesale central bank digital currency (CBDC) projects like mBridge, which connects China, Thailand, the UAE and Hong Kong, and is expected to expand to 11 countries this year.⁴ This will be the real test case for a potential replacement of SWIFT in future.
  •   
• Ultimately, we see the US dollar remaining the preferred global reserve currency in the foreseeable future. Even as other currencies increase their participation in foreign reserves, trade invoicing and transactions, incumbency, liquidity, efficiency and confidence in the dollar mean none can likely challenge it in the medium term.

+++++++++++++++++++

It's just stupid to continue to assume that the US Dollar will forever be the global reserve currency and do things that motive some huge players in the world to replace it and shun us........instead of STRENGTHENING the confidence in the Dollar with smart decisions that give the world confidence in us.

In fact, create adversarial positions for political reasons and unite our adversaries against us(as in the NATO war with Russia). Use our US Dollar influence to punish countries that we don't like. 

The galactically retarded political nonsense taking place in the United States right now is NOT giving the world a sense of US Dollar stability. That includes enabling and supporting Israel's war crimes that 95% of the world does NOT support.

The upcoming presidential election and what happens afterwards is a guarantee of massive chaos in the United States. Not a good look. 

Convicting a person running for president with dozens of absurd, manufactured crimes in 3 separate cases, weaponizing the justice system. Not a good look. 

MIKE SAID: "Thanks much, Jean!"

YOU HAVE CUTWORM TO THANK FOR THAT    OLD & FORGETFUL?  LOL

_____________________

YEP... CHINA IS PRETTY SMART IN THE "GOTCHA" GAME.

THANKS, CUTWORM ✔