It’s Over: The US Dollar Just Broke The Chinese Yuan

Dedollarization. Why is this word going around everywhere? Turns out, most likely, it's a propaganda campaign from China.

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[jacktheuser-ckqi]

People often forget that the Euro when it was announced was also thought to overtake the dollar and while it's the 2nd reserve currency it has not surpassed the US

[kent]

Whoever said Dollar is done... just donate all of your dollar to us... we want it

[Zebadee]

I remember everyone in the 1980s shouting about how the Japanese yen was going to replace the US dollar. For a while there, we were all thinking it might happen, but it never did.
Today, I'm pretty sure every global financial mechanism and organisation would never allow the currency used by an economic leper colony to ever dominate.

[jonatasdossantos]

As a Brazilian viewer. I feel embarassed about the decisions our government is taking in foreign policy

[joesky]

It's interesting how Western companies are also finding it difficult if not impossible, to repatriate profits from their Chinese subsidiaries. Billionaire investor Mark Mobius is one example. He cannot get his money out of China. I also know of an Australian company that has a manufacturing plant in China and they have to use a number of "profit-shifting channels" to get money out of China. I'm sure there'd be alot more too.

[dylanvienet]

As someone who travels the world regularly, including to adversarial countries of the US, everyone involved in the tourism industry and various other local businesses really want US dollars as a back up to their usually unstable currencies. I saw this in Iran, Russia, Sri Lanka, Laos, Lebanon, Iraq and all over the rest of the middle east and also in Cuba. The US dollar is still the stable choice of not only foreign governments but also citizens across the world and you'll never see the Yuan get to this status.

Excellent and timely video once again, C-milk!

[jackbits]

I got a good chuckle that they offered him about "2000 DOLLLARS" to spread the story, why not Yuan? 😂 I could see a weakened dollar coming but certainly the Yuan isn't going to just be granted the reserve currency. I've been skeptical about a lot of these stories because OK, they say the dollar is going down, but name one significantly large country that is in better shape than the US? Sure things are going in the crapper but it's not like rainbows and sunshine in China.

[klotus]

No one wants Yuan. Countries do deals with China & got Yuan just immediately exchange it for USD or gold. In the end, Yuan never left China. So foolish.

[TorpedoEight]

I saw some of this caca in the last week. The idea that the CCP could be a default currency is laughable. As soon as the Chinese internationalized the yuan, their bathtub would drain in a couple minutes as the population offshored all their cash into a more stable currency.

[elizabeth]

It is a concept from History. The United Kingdom's pound sterling was the primary reserve currency of much of the world in the 19th century and first half of the 20th century. That status ended when the UK almost bankrupted itself fighting World War I and World War II and its place was taken by the United States dollar.

[ncreznic]

Former hedge fund guy here - this has been going for over a decade. And no, not going to happen.

[gabrieltomete]

I fell for it. I got duped and overestimated the pace of De-dollarization. However I've never heard of the chinese yuan taking over as the world reserve currency, or if I did I must have disregarded and forgot it due to the ridiculousness of the notion. You would have better luck convincing me that the vietnamese *dong* or the venezuelan bolivar would replace it than the RMB.

[chivato]

I watched some news about Lebanon’s massive economic crisis and devaluation where people is exchanging their money into dollars to protect the value of their money. I didn’t hear anything about wanting Chinese currency, not there or anywhere in the world. You’re a smart guy man keep it up!

[wendyoswalt]

I watched a video the other day from someone who explained that they'll never want the yuan to be popular like the US dollar because of the rich people that live in China and are only allowed to use so much of their money at a time so they can't move it out of China and it keeps people stuck living there. Something like that lol

[RoseNZieg]

I heard weird things about the mainland Chinese economy from Chinese communities. anyone who ditches the dollar is fine as long as they don't invest into the Chinese yuan. it's so weird that people can think that banks with so little security measures could survive or even be legit.

[RebelionFiscal]

Meanwhile in Argentina we're begging for dollarization

[somerelativleyuninterestin]

The dollar losing its reserve can’t really happen since Chinese currency is no where near secure enough to act as a replacement. Plus, reserve changes and it’s WW3

[IoIocaust]

People all over the world are getting out of bed, putting on their Nike shoes, getting in their ford cars down to 7eleven.. maybe a Mobil, or a shell to pick up a coca cola and some cheetoes, yum yum, down to starbucks, order a frappe, open up their macbooks and iPhones to connect to the wifi to get on Twitter to tell everyone how much USA is losing influence economically.

[MAKAKA-by]

I have russian friend and he said that russians are getting paid for oil in indian rupees, but once they receive them, they find that no one wants those rupees. 😂😂

[michaelg]

i’ve been experiencing de-dollarization for years.. every time a bill comes in the mail