We hear a lot about how the US dollar is going to collapse and how the end is near. Of course, in some circles, this is the mantra for the past 30 years.
In this video I discuss what makes the US dollar so strong and how it is going to keep going as the currency of choice for businesses all over the world.
▶️ 3Speak
Hey bro! I've improved my English a lot, but I'm still sure I miss a lot of what you say hehe. I think things will continue the way they are going for a few more years, since I was a kid I have heard about the dollar falling, but every year I saw it getting stronger. Evidently everything has changed now, but I think there will be a few more years of the same old movements. This is quite a reflection, good of you to mention it and share your point of view...
For Asian gold trading, is the Tokyo Commodity Exchange (TOCOM) starting to be overtaken by the Shanghai Gold Exchange?
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I firmly agree with this. The US dollar is so ingrained and widely used worldwide that it will be difficult to change that. A concerted effort from all the top economies is difficult to succeed because of all the debts and trades that include the US. I have heard of BRICS, but with the losing war of Russia, and the tumbling economy of China, I don't see it doing much.
The dream of US dollar collapsing is mere fiction. Since I born, US dollar has been our means of exchange. How can it collapse? It is used widely worldwide for foreign exchange. Let's leave the illusion.
Please my friend @taskmaster4450, I need financial assistance. My kids are out of school because of fees and my rent is due. I'm a mother with 3 kids. My husband is a missionary.
The Nigerian economy is so bad. The rate of inflation is so high. It's not easy to afford food for the children. Things are so costly please help me and my children. Whatever assistance you can please send to us, God will bless you. Thank you.
Summary:
In this Money 101 video, Task delves into the topic of the U.S. dollar, addressing common misconceptions surrounding the currency. He emphasizes the dollar's strength and significance in global trade due to its widespread use and acceptance. Task critiques the belief that the dollar is at risk of collapse, citing its integral role in numerous financial systems and the substantial demand for it in servicing global debt. He explains the importance of understanding the monetary system and how it functions, with examples of loans being denominated in dollars and the impact of the dollar on international trade and investments. Task highlights the dollar's dominance as the primary currency in various financial transactions and underscores its fundamental role in funding global trade.
Detailed Article:
Taskmaster4450 focuses on the U.S. dollar in his Money 101 video, debunking common myths and misconceptions surrounding the currency. He starts by asserting the U.S. dollar's status as the most powerful currency in history, challenging the notion of its imminent collapse, which has been a perpetual theme among gold bugs. Task argues that the dollar's strength is rooted in its widespread use and acceptance worldwide, especially in global trade and financial markets.
He emphasizes that all currencies derive their value from economic productivity and underlines the significance of commercial banks in understanding monetary systems. Task sheds light on the immense demand for the dollar in servicing global debt, with around half of the $350 trillion global debt being denominated in U.S. dollars. He illustrates the crucial role of the dollar in international trade, central bank reserves, and for foreign exchange transactions.
Taskmaster4450 explains how businesses worldwide often prefer U.S. dollar-denominated loans due to the better interest rates offered by banks, as Wall Street readily buys and deals in dollar-denominated assets. He contrasts this with the challenges and inefficiencies faced when dealing with other currencies like the Yuan or Euro. Task delves into the complexities of global debt and investments, highlighting the overwhelming preference for the dollar in funding and investments, particularly in Silicon Valley, VC funding, IPOs, and Wall Street dealings.
In conclusion, Task stresses the dollar's indispensable role in the global economy and dispels notions of its vulnerability, offering a comprehensive insight into the reasons for the dollar's continued prominence and outlining its crucial functions in maintaining the stability of global financial systems and trade relationships.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.