Is Ukraine Winning The War Against Russia And What Is Happening To The Us Dollar

Discussion in 'General Discussions' started by Thoughtful, Sep 1, 2023.

  1. Thoughtful

    Thoughtful Gold IL'ite

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    A few disparate information which can be looked at wholistically:

    1) US ( Joe Biden's administration ) has been funding the Ukraine war against Russia with the US tax payers money ( about $75 billion and counting ). CNN will have you believe that Ukraine is winning the war.

    What do the European leaders in the region with knowhow of the reality on the ground saying?
    Could this money have been spent for the benefit of Americans in America to benefit their every life?
    Is Ukraine a country which has significance to the lives of Americans for US tax payer to foot the bill?

    2) China has been working to bring down the US dollar and has most recently overruled India and bringing in 5 countries into BRICS ( including Iran ).

    If the US dollar is not the global currency in the future, could every country holding the US dollar ( which is not backed by Gold, unlike the other currencies ), have any reason to hold on to it?
    Where will this leave the US dollar value who are already hit by the inflation and increasing interest rates?
     
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  2. MalStrom

    MalStrom IL Hall of Fame

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    The US funded military presence in Afghanistan for 20 years, and in Iraq for a long time too. Did you have the same questions about that?
     
  3. chanchitra

    chanchitra Platinum IL'ite

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    I feel this money should be used for the benefit of Americans.
    Rent is going so up ,I am seeing lots more homeless people in my state. Hearing the same from other states too.
    Medicaid funding is going down.
    Americans should not be surprise billed for using the 911 ambulance.
    Seriously US should stop billing its residents when they get transported by 911 for a life threatening emergency
     
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  4. Viswamitra

    Viswamitra Finest Post Winner

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    1) Anytime, money is spent on war is a wasteful expenditure. Even other European nations are spending money on this war even though Ukraine is not yet a member of NATO but aspiring to be. However, this aggression from Russia has mobilized more countries to quickly join NATO and hence expanded territory belonging to NATO. The countries that joined do have some military power and financially stable as well. If Ukraine had become a member earlier, then, it becomes the responsibility of NATO members to consider this war as their own war. But this protection is a preemptive effort not to allow Russia to expan towards West. If you notice that many countries adjacent to Ukraine were part of Soviet Union before and from time to time, there were threats from Russia. I agree $75 billion is a lot of money spent out of tax payers' dollars but this contribution is making more countries in Asia and Europe to feel confident about the American support. Indonesia, Japan, Phillipines, South Korea, Taiwan, Vietnam and many more are relying on the US support militarily from the aggression of China.

    2) China has been having this ambition for decades but their currency is kept low in order to promote exports throughout the world. Many countries have brought in anti-dumbing regulations and at some point of time, Yuan will face the consequences of such actions. Moreover, they built more infrastructure than what is needed and their economy is facing the reaction to this wrong moves. They are now formally world's second largest economy but sustaining that position requires a lot of effort. US dollar value is not primarily because that is the world's largest economy but also because the US has estabilished their currency as a free floating currency for many decades. Most of the BRICS countries and countries aspiring to join don't have a free floating convertible currency. If they do, then, there will be disastrous consequences which is why they are regulating their currencies. Eventually, it is possible to have other currencies as the world currency but it requires sustained actions that are difficult to do. Aspiration is one thing but actually making it happen is another. Historically, dollar has strengthened due to the support of many countries. Only issue that could be challenging for the US to sustain their dominant currency is their borrowal and debt. If the US governments learn to control their deficit and know how to reduce their debt, it will take many decades before the US dollar loses its hold as a world currency.
     
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  5. Thoughtful

    Thoughtful Gold IL'ite

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    Is this really true and would these countries believe they will get aid in billions if China comes after them. On the contrary hasn't US proved that they really don't have any presence in this matter.

    I definitely don't think this is the case although it might seem this way. Also this is based on the assumption that there need to be World Currency to replace US dollar for this to happen which is not necessarily true.
     
  6. Viswamitra

    Viswamitra Finest Post Winner

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    Those are my opinions Sir. I respect your views as well Sir. I am just mentioning my views purely from financial point of view and how the economy works. My statements are not political.
     
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  7. Thoughtful

    Thoughtful Gold IL'ite

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    Your response is well taken and I appreciate you responding and giving a well thought reply.

    I responded not with the intention of challenging your opinion but those are concerns of mine based on the decision made by US politicians ( which can be reversed in my opinion if there are right people making the decisions ).
     
  8. Viswamitra

    Viswamitra Finest Post Winner

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    As you know Vietnam is celebrating its 10 year partnership with the US. Philippines has requested military support to resist Chinese aggression in South China Sea. You know about the Us military presence in Japan and South Korea. One China policy is only in paper and the US will never allow China to takeover Taiwan until they stay as the world’s semiconductor exporter. The US has major naval presence in South China Sea as a deterrent.

    Regarding the currency, there is a basket of currencies already traded in the international market. All of these currencies are freely convertible. The countries who regulate their currencies are not part of it. Despite strong exports, China has never made Yuan a floating currency for many decades. They kept the currency at the same value for many years. The strength of a currency can be established in international trade only when they are allowed to trade freely based on their economic strength. That is my humble view.
     
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