Mbeki says countries raising debate on use of US dollar

[kota]

citation for this

Well done, wasn't sure if you would have picked up on it, I didn't want to put the amount of gold in their reserve as well as their stable economy as the reasoning since how you guys were going arguing about the perceived level of "stability" without much progress on the discussion.

Assuming if gold was not the only reason, what else would have allowed USD to held onto their reserve positions after moving away from the gold standard, why wouldn't other countries challenge that position in the 80s, 90s or 00s if gold holdings was really the only reason, surely everyone wants the perks of being the world reserve currency, would it not be because of US's overall strength as a country? The strength that comes from their military/security; economy; and innovations / technologies?

 

[kota]

And citation for this. Otherwise you are just strawmaning.

Not sure what citation you want, I would have thought the context was clear that it was me saying to those that were calling for USD to just get replaced now, what sorts of consequences we could expect.

 

[saturnz]

Well done, wasn't sure if you would have picked up on it, I didn't want to put the amount of gold in their reserve as well as their stable economy as the reasoning since how you guys were going arguing about the perceived level of "stability" without much progress on the discussion.

Assuming if gold was not the only reason, what else would have allowed USD to held onto their reserve positions after moving away from the gold standard, why wouldn't other countries challenge that position in the 80s, 90s or 00s if gold holdings was really the only reason, surely everyone wants the perks of being the world reserve currency, would it not be because of US's overall strength as a country? The strength that comes from their military/security; economy; and innovations / technologies?

so no citation then, just more waffle, cool

 

[Mirai]

so no citation then, just more waffle, cool

An exercise for you. Find an older relative who is on chronic medication.
Look up the generic ingredient name on the box.
Look up where the drug was developed.
Chances are, more likely than not, it was developed in either America or an America allied country.

 

[Cosmik Debris]

Here you go:

https://twitter.com/x/status/1644356016589381632

And

https://twitter.com/x/status/1644374089161637888

 

[saturnz]

An exercise for you. Find an older relative who is on chronic medication.
Look up the generic ingredient name on the box.
Look up where the drug was developed.
Chances are, more likely than not, it was developed in either America or an America allied country.

And this is your evidence the dollar is stable?

 

[saturnz]

Not sure what citation you want, I would have thought the context was clear that it was me saying to those that were calling for USD to just get replaced now, what sorts of consequences we could expect.

well you are entitled to your opinion

who are those calling for the dollar to get replaced?

 

[BBSA]

The People's Bank of China manages the value of its currency, the yuan, by allowing it to fluctuate within a certain range of the usd in the foreign exchange market. This suggests that even though the yuan is a Chinese currency, even they have confidence in the US Dollar.

 

[saturnz]

confidence is once again moving the goal posts away from stability or so called "strength", they are not the same thing LOL

 

[Mirai]

And this is your evidence the dollar is stable?

That's homework for you. Just so you know who needs who more, unless you want untreated conditions.

 

[saturnz]

That's homework for you. Just so you know who needs who more, unless you want untreated conditions.

more like a deflection on your part, you really need to work on your gaslighting tactics

 

[Mirai]

more like a deflection on your part, you really need to work on your gaslighting tactics

How is this deflection? Dollar is the currency in the States and is respected in much of their allied countries. How is that a deflection? The West is prosperous and drives progress in tech and science and even human rights in the world.

When it comes to value, often value is based on judgement. It's whether people want to be in that camp, want to partake in that, and so use and trade in that currency or be in the land of cheap products, oppression, AK47s, sh-t weapons, and failing electricity provision.

Something is stable when people use it for a very long time and have demand for it. Fluctuations within ranges don't matter the way we in medicine, don't care if our patient has a blood pressure of 135/70 with one reading and 122/87 with the next. If an ICU patient was keeping his blood pressure above 90/60 and under say 160/95, we'd usually say his blood pressure would have been stable. It would be different if there was a brain haemorrhage patient whose BPs were going up to 220/140 or someone with septic shock whose BPs were going back and forth from 60/40 to 110/70. Fluctuations in many situations do not mean instability.

For some or other reason people use the dollar and much of it has to do with the existence of oppressive and poorer performing states, which don't develop medicine which one day when you get old will keep you living longer, who don't develop the newest tech, like CPUs, and countries which are free and prosperous over a long period of time with democracies where freedom of expression is assured and representation is open to all. These also happen to have the strongest and most battle tested militaries. They have also kept the sea routes open ended major world conflicts decisively, created organisations such as the WTO, UN, Red Cross etc. They also created and maintain many of the standards we use, for example the meter or organisations such as the ISO or IEEE. America is the leader of the West, and the West dominates most things.

If you're not happy with that, that's on you.

 

[Mirai]

It's funny how the Middle Easterners preen about and show off their wealth. But without Western use for oil being invented and Western exploitation and refining tech, they'd still be herding camels and farming dates on a limited scale. They would be dirt poor. Oh sure, now they buy Maybachs and Italian supercars, and use air conditioning but all of this stuff was created in the West. When Iraq was invading Saudi Arabia and Kuwait who was it who saved the Saudis and Kuwait? Eh? Also more assistance and support.

That's Western driven progress, like it or not.

 

[Vrotappel]

more like a deflection on your part, you really need to work on your gaslighting tactics

Dollar collapsed yet?

 

[Mirai]

Dollar collapsed yet?

Any moment now... we've been warned of this since the 70s.

 

[saturnz]

How is this deflection? Dollar is the currency in the States and is respected in much of their allied countries. How is that a deflection? The West is prosperous and drives progress in tech and science and even human rights in the world.

none of this relates to the topic of the thread

and its not the allies that are wanting to transact in currencies they agree to

science and monetary policy are not the same thing

all gaslighting

 

[saturnz]

Dollar collapsed yet?

I'm not the one that spoke of a dollar collapse, why am I expected to answer?

 

[Cosmik Debris]

For all those that think the Yuan is the next flavour of the month:

 

[saturnz]

For all those that think the Yuan is the next flavour of the month:

who are these people who think the Yuan is the next flavour of the month?

strawman much Mr Fallacy Police?

 

[Mirai]

none of this relates to the topic of the thread

I think it definitely relates to the topic of the thread. You just refuse it. I refuse to accept your refusal. We'll have to agree to disagree.

and its not the allies that are wanting to transact in currencies they agree to

Non-allies can choose to do what they want. The successful countries which develop the tech the less succesful countries use accept the dollar.

science and monetary policy are not the same thing

We can extrapolate that to engineering too and anything which deals with reality. Metals have tolerances. We don't claim something is unstable because it is within its tolerance but maybe not the same, every freaking time.

You're creating your own personal standards. That's on you.

all gaslighting

Just because you believe that, doesn't make it true.