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СпутникиРНSpaceXРоскосмосNASAOver the past eighteen months, nearly every condition analysts have long said would erode the dollar's dominance arrived at once. War broke out in the Persian Gulf. The Strait of Hormuz has closed, reopened, and closed again, and remains shut as this is written. Iran began charging transit tolls denominated in yuan. Indian refiners started settling Russian crude in yuan and dirhams, the first time a top-five oil importer structurally routed around the dollar for energy. China's cross-border payment system posted record volumes, clearing 1.22 trillion yuan in a single day in March. Central banks bought gold at a pace...
Posted on 08/10/2026 10:19:07 PM PDT by EnderWiggin1970
Over the past eighteen months, nearly every condition analysts have long said would erode the dollar's dominance arrived at once. War broke out in the Persian Gulf. The Strait of Hormuz has closed, reopened, and closed again, and remains shut as this is written. Iran began charging transit tolls denominated in yuan. Indian refiners started settling Russian crude in yuan and dirhams, the first time a top-five oil importer structurally routed around the dollar for energy. China's cross-border payment system posted record volumes, clearing 1.22 trillion yuan in a single day in March. Central banks bought gold at a pace not seen in half a century. If the dollar's position were going to crack, this was the stress test.
Over that same stretch, the yuan's share of global payments fell. SWIFT's tracker put the renminbi at 4.33 percent of world payment volume in February 2025, good for fourth place among currencies. By February 2026 it had dropped to 2.74 percent and sixth place. The dollar's share sat near 48 percent and did not move much.
That gap between the conditions and the outcome is the most important thing happening in international finance right now, and almost nobody is describing it accurately. One camp insists the dollar's collapse is imminent and has been saying so for fifteen years. The other waves off the entire alternative financial architecture as theater. Both are wrong in ways that matter, and the truth underneath is considerably more interesting than either.
(Excerpt) Read more at realclearworld.com ...
For a grunt this guy has an impressive grasp of international trade and economics.
To: EnderWiggin1970
Legal system underpinning the dollar is just better.
2 posted on 08/10/2026 10:26:31 PM PDT by Bayard
To: EnderWiggin1970
I read on here that the sky was falling.
3 posted on 08/11/2026 2:00:47 AM PDT by Raycpa
To: EnderWiggin1970
The buried lede:
"A currency becomes a reserve currency when foreigners can acquire it freely, hold it safely, move it without permission, and trust that a court will enforce a claim denominated in it. Beijing permits none of those things. Capital controls determine how much renminbi can exist beyond China's borders, and Beijing keeps that number small on purpose."
"To make the yuan a genuine reserve currency, Beijing would have to permit exactly the capital mobility that its own experience says would destabilize the system the Party exists to control. It can build the rails, and it has. It can wire in the partners, and it is doing that too. What it cannot do is fill the pipes, because filling them requires letting money leave."
China hasn't come up with an original, sustainable idea since gunpowder during the Tang Dynasty.
4 posted on 08/11/2026 2:41:15 AM PDT by Ahithophel (Communication is an art form susceptible to sudden technical failure)
To: Ahithophel
China invented paper money (and the inevitable inflation) about a hundred years later.
Paper money and inflation have been “sustainable” ideas which were exported and are now in wide use.
I did not say they were “good” ideas....
5 posted on 08/11/2026 4:57:31 AM PDT by marktwain (----------------------)
To: marktwain
And then we have fractional reserve banking.
Maybe/kind of/sort of invented by the Medici around the 12th century AD.
Such a deal!
“Success has many fathers, failure is an orphan”
6 posted on 08/11/2026 6:24:37 AM PDT by DUMBGRUNT ( "The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last messag)
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