2025: The end of US dollar dominance?
Various ones are taking steps to dethrone the US dollar as the world’s reserve currency. believes this may happen by 2025:
The Road to 2025 (Part 3) – USD Dominated Financial System Will Fall Apart
The USD is unique in that it grants the U.S. the “exorbitant privilege” of having a national currency which at the same time serves as the global reserve currency. …
Pricing key commodities such as oil, which everyone in the world needs, in USD creates a massive structural support for the dollar versus other government fiat currencies. If other nations constantly have to convert to USD before purchasing commodities, there’s a constant underlying global demand to buy USD on a daily basis. No other country has this sort of structural support for its currency, and it allows the U.S. to be far more fiscally irresponsible than other countries without suffering devastating currency devaluations on the global market.
Despite the tremendous advantage such a system offers the U.S. on the world stage, there haven’t been any rival countries that could realistically challenge it given American economic dominance. This is no longer the case. …
Still today, the US GDP accounts for 22% of world’s GDP, while 80% of international payments are made in dollars.
Hence the United States receives goods from abroad always at comparatively very low prices, while the massive demand for dollars from the rest of the world allows to refinance the US public debt at very low costs. …
This is absolutely key. There’s now a huge mismatch between the use of USD in the global financial system and the U.S. share of the world economy. China and Russia are acutely aware of this and have been taking major steps to transition to a more multi-polar currency world. There can be no multi-polar geopolitical world without a multi-polar currency world, which is why they’re working toward dethroning the USD. I believe they will succeed.
Specifically, I think by 2025 the world will have a completely different global financial system from the one chaotically birthed in the 1970s. The USD will lose its total dominance on the world stage, resulting in major implications geopolitically as well as at home. https://libertyblitzkrieg.com/2018/04/19/the-road-to-2025-part-3-usd-dominated-financial-system-will-fall-apart/
While I am not certain of the date, if certain prophetic events take place within the next four years (e.g. Daniel 9:27; see The ‘Peace Deal’ of Daniel 9:27), it is possible that the US dollar will be worth no more than its scrap and burning value by 2025.
This month, Turkey’s President Recep Erdogan told the International Monetary Fund to stop using US dollars for loan repayments (see Turkey repatriates gold and denounces US dollar dominance).
Last month, China introduced what some call the “petro-yuan” in an attempt to get the world to use more of its currency and less of that of the USA (see China’s ‘petro-yuan’ successfully introduced; Why is Russia accumulating gold?).
Last Fall, Russia’s Prime Minister Medvedev made public statements related to eliminating US dollar dominance in international trade (http://www.reuters.com/article/us-china-politics-russia-currency/russias-medvedev-says-the-world-shouldnt-be-dominated-by-one-currency-idUSKBN1D13J0).
Russia and China are publicly working towards the elimination of US dollar dominance (see ‘Petro-Yuan Is The Newest Weapon For The China-Russia-Iran Anti-USD Alliance’).
And then there is Europe. Part of the intent of the Euro was to become the world’s dominant reserve currency. And while it is not ready for that yet, the Europeans still expect that to happen.
The USA pushed sanctions on Russia related to Crimea. The Trump Administration has kept those sanctions basically in place. The Trump Administration has also threatened China with financial sanctions related to North Korea.
While the US dollar still clearly dominates international trade, it should be little surprise that the nations considered to have the world’s second strongest military (Russia) and second largest economy (China) have been taking steps to reduce the dominance of the USA–the nation considered to have the strongest military (cf. Daniel 11:39) and world’s largest economy. But let it be understood, that as a group, the European Union actually has the world’s largest economy.
Here is some information about the US dollar and being the world’s primary reserve currency:
For nearly a century, the United States dollar has served as the world’s premier reserve currency, taking the crown once worn by the pound sterling. The future of the dollar as the most popular reserve currency is less certain. Reserve currencies are foreign currencies held by central banks. When a country acquires reserves, it doesn’t place the currency in general circulation. Instead, it parks the reserves in the central bank. The reserves are acquired through trade, with the acquiring country selling goods in exchange for currency. Reserve currencies thus grease the wheels of international commerce by helping countries and businesses conduct transactions using the same currency, a much simpler task than settling transactions involving different currencies. Their popularity is easy to see: between 1995 and 2011, the amount of currency held in reserve increased by over 730%, from around $1.4 trillion to $10.2 trillion.
Issuers of Reserve Currencies
Reserve currencies are typically issued by developed, stable countries. The currency most commonly held as a foreign exchange reserve is the U.S. dollar, which, according to the International Monetary Fund (IMF), comprised nearly 62% of allocated reserves as of late 2012. Other currencies held in reserve include the euro, Japanese yen, Swiss franc and pound sterling. The dollar, while still the most widely held reserve currency, has seen increased competition from the euro. (Radcliffe B. A Primer On Reserve Currencies http://www.investopedia.com/articles/economics/13/reserve-currencies.asp#ixzz4ssejn6Ga accessed 09/16/17) Facebook
Here is more about the benefits of being the world’s reserve currency:
Michel Sapin, the French finance minister, called for a “rebalancing” of currencies used in international transactions, implicitly criticizing the status of the U.S. dollar as the principal international reserve currency. Sapin joins a long tradition of French finance ministers criticizing the dollar’s privileged status, which goes back to Valery Giscard d’Estaing. In the 1960s, d’Estaing, who served as President of France from 1974 to 1981, said that the United States received an “exorbitant privilege” due to the greenback serving as the basis for much of international financial transactions.
The dollar’s global reserve status does confer some real benefits, …
The purpose of a reserve currency is to help smooth international transactions. Imagine a company that wants to sells goods to a company in a country with a different currency. When it comes to currency, the companies have two potential problems. First, the exchange rate between the two currencies could shift dramatically and change the price of the good. Secondly, the importing company might use a currency that isn’t used much outside of its borders and trading that currency might be difficult. By using a widely circulated currency, such as the U.S. dollar, the two companies eliminate the two risks.
But the two companies whose transactions are smoothed aren’t the only ones who benefit. The issuer of the reserve currency, the United States in this case, also benefits. More companies and individuals using the dollar means more transactions denominated in dollars, which provides more liquidity for this currency. Liquidity means that financial assets can be priced more easily and loans are more easily provided. In short, U.S. firms get easier access to capital because of the dollar’s reserve status.
These benefits are certainly real and substantial, but there are also costs. … foreign goods are less expensive to U.S. firms and households, which spurs them to consume cheaper foreign goods and therefore imports increase. (Bunker N. Being the reserve currency has its privileges and costs. July 2014 http://equitablegrowth.org/equitablog/reserve-currency-privileges-costs/ accesed 09/16/17)
Essentially, the benefits to the USA have included making money on international trades that the USA otherwise would not be involved in, less inflation, a subsided economy, lower borrowing cost, a more attractive investment market, and getting many goods from foreign lands at less cost than would otherwise be possible.
This status for the USA will not continue–places like the European Union also want to dethrone the US dollar.
This will not end well for the USA:
What happens to the US economy if the Dollar is no longer the reserve currency of the world?
If US T-bills lose their attraction as reserve investments … it would get harder for the Treasury to sell more of them, requiring higher interest rates to be paid and potentially forcing austerity measures on the US government or triggering classic deficit spending inflation (“printing money” to pay for government, this doesn’t happen now because the deficit is financed through sales of those bonds at extremely low interest rates).
If foreign central banks and governments start exchanging their US dollars for some other currency or currencies, then the value of the dollar in international trade drops, it becomes more expensive to buy imported goods in the US and more profitable to sell exported goods from the US. This could have all kinds of political and social effects, especially if the shift was rapid, severe, and unexpected. https://www.quora.com/What-happens-to-the-US-economy-if-the-Dollar-is-no-longer-the-reserve-currency-of-the-world
The above is warning about inflation, higher interest rates, and troubles borrowing. The USA is the most highly indebted nation of all time. The USA has been essentially on a borrowing binge the last four decades and its economy is now dependent upon borrowing. The Bible paints an even worse scenario that in the time of the end (Habakkuk 2:2-3) the highly indebted will be taken over (Habakkuk 2:2:6-8) and destroyed (Daniel 11:39; USA in Prophecy: The Strongest Fortresses).
Do not think that the USA will continue to be number 1. The USA will ultimately be eliminated according to biblical prophecies (e.g. Daniel 11:39; Isaiah 10:5-11)–and financial reasons will be part of why (cf. Habakkuk 2:6-8).
Some items of possibly related interest may include:
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
Eliminate the $100 bill? Various ones, like Harvard economist and Trilateralist Larry Summers have called for the elimination of the USD$100 bill and the 500 Euro note. In Asia, South Korea is heading towards cashlessness by 2020. Electronic currencies are information and subject to monitoring. Did something God inspired the Apostle John over 1900 years ago now able to come to pass? This is a video.
The ‘Peace Deal’ of Daniel 9:27 This prophecy could give up to 3 1/2 years advance notice of the coming Great Tribulation. Will most ignore or misunderstand its fulfillment? Here is a link to a related sermon video Daniel 9:27 and the Start of the Great Tribulation.
Collapse of the Euro and Dollar? War in 2020? Larry Edelson of Money and Markets described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the ‘granddaddy of all cycles”? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military When Will the Great Tribulation Begin? 2018, 2019, or 2020? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2018 o 2019? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Can the Great Tribulation begin in 2018?
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? What about WWIV? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2026 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Are You Being Called by God? Norman Shoaf wrote various points to consider.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? A YouTube video of interest may be Is China THE Threat to the United States of America?
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Is one being formed right now? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? If some type of Eurasian union is formed, who might it benefit and who will it destroy? A related video would be Is The Eurasian Union Rising?
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Two related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency.
Russia and Ukraine: Their Origins and Prophesied Future Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end? Here are links to videos: Russia in the Bible and in Prophecy and Ukraine in Prophecy?
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Is one being formed right now? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? If some type of Eurasian union is formed, who might it benefit and who will it destroy? A related video would be Is The Eurasian Union Rising?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
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