/leftypol/ - Leftist Politically Incorrect

I don't rteally think this is true. The united states dollar is far far far more powerful than any other currency on the planet. Even china and even at its lowest most invaluable point.

>>469788
it's objectively true

https://strategic-culture.org/news/2023/01/15/by-numbers-de-dollarization-of-global-trade/

<The imposition of US trade restrictions and sanctions against a number of nations, including Russia, Iran, Cuba, North Korea, Iraq, and Syria have been politically ineffectual and have backfired against western economies. As a result, the US dollar has been losing its role as a major currency for the settlement of international business claims.

<Because they do not adhere to the policies of the US and other western powers, over 24 countries have been the target of unilateral or partial trade sanctions. These limitations, nevertheless, have turned out to be detrimental to the economies of the Group of Seven (G7) nations and have begun to impact the US dollar’s hegemony in world trade.

<In its space, a “new global commercial bloc” has risen to the fore, while alternatives to the western SWIFT banking messaging system for cross-border payments have also been created.

<The International Monetary Fund (IMF) recorded a decline in central bank holdings of US dollar reserves during the fourth quarter of 2020—which went from 71 percent to 59 percent—reflecting the US dollar’s waning influence on the world economy.

<And it continues to worsen: Evidence of this can be seen in the fact that the bank’s holdings of dollar claims have decreased from $7 trillion in 2021 to $6.4 trillion at the end of March 2022.

>>469789
>>469789
No, it isn't.
People really do not understand just how hegemonic the United States dollar really is in comparison to other countries. This is massive hopium from a defeated left. That's all it is. That isn't to say the USD hasn't weakend, but, as I said even currently it is still far superior to all other currency on the market. So much so it actually "dollarizes" other countries. Look at what happened to turky.

All the saber rattling and empty words will amount to fuck all because of how influential and powerful the US is in the world economy.

https://www.foreignaffairs.com/united-states/dollar-still-dominates

>>469797
Do you expect us to take you seriously after posting a link to foreignaffairs?

>>469798
Well I deff wont take some one seriously who thinks he's right because he personally dislikes the medium which the information is posted. Also >ignoring the literal IMF

>>469799
It's a matter of your medium being a propaganda outlet whose factual veracity is immediately suspect.

>>469797
>People really do not understand just how hegemonic…
<empire eternal, because empire big.
Every empire says this, it's never true.

If the US can find wise and skillful leaders that can gently roll back empire over the next 20 years, it'll be a painless, barely noticeable affair.
If it's going to continue with incompetent brutes like the neocons, they can crash it over a period of ~2 years by starting shit with China.

>>469806
That's a strawman. I never said it was forever I said it wasn't yet.

>>469804
Propoganda doesn't mean incorrect

HE'S BACK
Wolff-sempai critiques capitalism from Marx in celebration of his birthday:
https://inv.tux.pizza/watch?v=HBLJ7UAqXSo

*The End of Financial Colonialism | Richard D. Wolff and Michael Hudson*

https://farside.link/invidious/watch?v=I6eq1mIXIAA

>>481711
Love seeing these two together, and this guy is such a great interviewer. He always asks really good questions of his guests and it surprises me that he isn't more popular.