Let's Talk De-Dollarization - Why the Dollar Isn't Going Anywhere Anytime Soon

There's been a lot of talk about de-dollarization lately - let's break down the concept, and discuss why the dollar (likely) isn't going anything.

DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice - Richard is not responsible for investment actions taken by viewers. Please seek out a registered advisor if you require assistance (while Richard is a registered portfolio manager at WDS Investment Management, he does not provide advice through The Plain Bagel, which is not affiliated with his employer).

[Elemblue]

I truly love how you mock clickbaits and overreaction hyper speculation videos. They are, in a way, an insult to the intelligence of the viewers.
Ive developed an instinct where if I see that stuff, I specifically dont click on it. In fact, thats how I found you. You were the only reasonable thumbnail I could find that day. Well done.

[TheTerrier]

Just here to praise some factual and reasonable coverage of financial markets

[zbob]

Thank you for being the voice of reason in the age of grifters and charlatans.

[yhckelly]

Watching this guy layout the realities of the financial landscape is like watching a news anchor from 1987- back when hysteria was a word you looked up in the dictionary. Thank you Richard from the Plain Bagel- and may God bless all our straight-laced frozen neighbors to the north!

[vishalkh]

There will be no immediate effects, but around mid-2025, you would definitely see the impact.

[midimusicforever]

I am all for more use of the Canadian dollar. They are handy to have in the wallet in case one wants to set up a spontaneous game of Monopoly.

[yourcheapdate]

Thanks for your insights man, it's always nice to hear from you. Hope all is well for you and yours.

[ReimuandCirno]

Personally, I'm not sure if the CCP even wants the renminbi to be the world's dominant currency. To do that, the CCP would have to give up its capital controls. For that same reason, I think it's also unlikely to join a common currency unless it has an outsized influence over the collective monetary policy.

[tomthemime]

Good to see you mention the earlier eurozone crisis with respect to this. Whenever I saw anyone talking about a new BRICS currency, I always remembered that a shared currency can cause major issues even with strongly integrated transnational systems like the EU and ECB that at least provide a mechanism for redistribution even if there are other issues.

[KirilGerovski]

You explain things with facts and use reason. Most of the people are just talking nonsense. Great video, keep it up!

[midnight_vw]

The biggest problem with the dollar right now isn't the economic instability of the states, or the debt ceiling, or the fact that it isn't exclusively backed by Saudi oil anymore.

The biggest problem is that it can simply be confiscated when they write your name on the naughty list.

[margarethung]

You say, "This (US) debt is supported by America’s massive military presence and operations globally. You could do a whole video about how the military in the US has helped cement the dominance of the dollar."

Please, please do a whole video about this - I really want to know.

[ayiska]

This Channel is a breath of fresh air from all the fear mongering finance youtubers

[davidpendleton]

I appreciate you taking the time to differentiate the RMB as a currency and that yuan as a measure of that currency. It was something that totally confused me for a long time reading The economist

[Lithilic]

As always, appreciate the level-headed assessment of the issue.

[kirkclements]

The 2 main requirements for a global reserve currency are that that country has a government bond market of sufficient size so that $Billions can be parked there without moving the market prices very much if at all and the 2nd requirement is that the value of the currency is not threatened by default or wild fluctuations due to insane economic policies relative to the other currencies. So, until we see a country with a government bond market approaching the size of the USA's then talk about replacing the $US as the reserve currency will be wasted air generally from marketing departments trying to generate fear so that they can sell you something of very little value.

[luisfilipe]

Another episode on the “Richard slaps the world with boring reality check” show

[hunter]

The issue I have with people calling doomsday around the U.S. dollar is that there still isn't a viable alternative in the long term. The Euro, the greatest competitor has two main issues. 1. The advanced economics in the Eurozone have demographic problems that will make it very hard to maintain growth. 2. Countries within the EU can't fight recessions within their country with monetary policy like the U.S. can. It's why Greece had so many issues. China's currency just seems insane to use as a reserve currency. We know they continuously devalue it, it's just not a safe reserve. The Yen suffers from the fact that Japan just can't grow due to debt and demographics. Which leaves the pound. Which, why would you change from the U.S. dollar to the U.K. pound if you wanted to get away from U.S. influence?

[Davisb]

I for one welcome our new Canadian overloads!

[BrahmaDBA]

My country is one of those who wants to move out from the Dollar and use its own currency to trade with others. It makes sense. The US as a trading partner does not share as much trade capitalization compared to other trading partner. By cutting out the dollar and pursuing LCT (Local Currency Trading) we stand to gain much more than to rely on the Dollar to trade. We have also been conducting LCT with most of our major trading partner.

I hope that my region, SE Asia, can have a more cohesive program when it comes to economic and military cooperation so that it does not get swayed too much by foreign parties, especially considering how hot the South China Sea going to be in years to come and possible economic downturns in the future. By doing this we hope to create efficiency, reduce possible impact of US initiated global financial crises, and better payment balance.