I actually agree with you. Local currency trade doesn’t solve the problem of the excess surplus remaining after bilateral trade having to be put somewhere. Most currencies don’t have any real demand and their economies don’t produce any tangible good and/or service at any real scale at all. I’m not very inclined to believe that the Chinese are willing to put the RMB forward as a reserve currency as that would require them to loosen capital controls and would render their exports expensive just as what happened to US exports.
Multiple people put forward multiple solutions and well it’s a problem for the powers that may be above us to solve.
What the Ukraine war and the US’s subsequent moves have ensured is that the world will actively look for an alternative to the Dollar.
After reading this, I’m asking myself how can I get off ibkr an US broker. I want to be truly independent of US institutions.
Check out POEMS by Phillip Capital they are a completely Singapore based broker which allows remote account opening
Nope. Not for US citizens
Multi is German.
Well, it had me hopeful for a minute (American). Where tf do we go?
Not many options apart from immigrating and giving up citizenship or bringing down your government
Have you looked at 883 ?
Of course I have. It’s a sanctioned stock so your American broker won’t allow you to buy it
Did you see this tweet ? https://x.com/puppyeh1/status/1909743689322361151?s=46
Unfortunately there is no good alt to USD right now.
I actually agree with you. Local currency trade doesn’t solve the problem of the excess surplus remaining after bilateral trade having to be put somewhere. Most currencies don’t have any real demand and their economies don’t produce any tangible good and/or service at any real scale at all. I’m not very inclined to believe that the Chinese are willing to put the RMB forward as a reserve currency as that would require them to loosen capital controls and would render their exports expensive just as what happened to US exports.
Multiple people put forward multiple solutions and well it’s a problem for the powers that may be above us to solve.
What the Ukraine war and the US’s subsequent moves have ensured is that the world will actively look for an alternative to the Dollar.
Gold 🤞
Suckered, good and proper.
Hahaha