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It is bad for the rest of the world but the rest of the world has an exit. Call your representatives and stop using US dollar for trade. Literally, that one act

It is bad for the rest of the world but the rest of the world has an exit. Call your representatives and stop using US dollar for trade. Literally, that one action alone will save a lot of grief for people outside the US. This is not a joke. What will sting Elon, Trump and crooks the most is losing their wealth. The rest of the world does not need to suffer for these crooks.

oefrha 2y ago
That’s wishful thinking… One can’t simply stop using USD for trade on a whim. Decoupling will take at least a decade if not longer.
- marcosdumay 2y ago
  Nah, stop using the US$ for trade is as simply as just stop doing it. There's no lack of infrastructure, and plenty of commerce doesn't use it already. What is hard is desinvesting from the US treasure. You have to sell those somewhere, and if everybody tries, their value will quickly go to 0. But if the US is successful in making their trade-balance positive, this will solve itself without a lot of hardship, it's just a matter of the rest of the world helping them here. Macroeconomics is not what will show you problems here. The US is inserted itself into every supply chain on the world, but you will only notice this if you look at the details. Maybe we should start with an intellectual property reform...
  - oefrha 2y ago
    > as simply as just stop doing it If you don't mind the tsunami that ensues, sure.
    - marcosdumay 2y ago
      Hum... What kind of tsunami do you expect to come from some thousands of people holding dollars for a few fewer milliseconds? That would take a lot of legwork to confirm, but while the US$ is certainly the most used intermediate currency, it would surprise me if it was even used on the majority of the transactions.
- pjc50 2y ago
  Europe manages to use the Euro just fine.
  - SideQuark 2y ago
    About half of their extra EU trade is in USD, about half in Euro. Losing half of their import market and half of their export market would be the worst financial calamity they’ve ever faced. https://ec.europa.eu/eurostat/web/products-eurostat-news/w/ddn-20240624-1 https://ec.europa.eu/eurostat/web/products-eurostat-news/w/d...
reddalo 2y ago
> Call your representatives This is a very US-style approach; nobody calls their "representatives" in Europe, unluckily.

oefrha 2y ago

That’s wishful thinking… One can’t simply stop using USD for trade on a whim. Decoupling will take at least a decade if not longer.

marcosdumay 2y ago
Nah, stop using the US$ for trade is as simply as just stop doing it. There's no lack of infrastructure, and plenty of commerce doesn't use it already. What is hard is desinvesting from the US treasure. You have to sell those somewhere, and if everybody tries, their value will quickly go to 0. But if the US is successful in making their trade-balance positive, this will solve itself without a lot of hardship, it's just a matter of the rest of the world helping them here. Macroeconomics is not what will show you problems here. The US is inserted itself into every supply chain on the world, but you will only notice this if you look at the details. Maybe we should start with an intellectual property reform...
- oefrha 2y ago
  > as simply as just stop doing it If you don't mind the tsunami that ensues, sure.
  - marcosdumay 2y ago
    Hum... What kind of tsunami do you expect to come from some thousands of people holding dollars for a few fewer milliseconds? That would take a lot of legwork to confirm, but while the US$ is certainly the most used intermediate currency, it would surprise me if it was even used on the majority of the transactions.
pjc50 2y ago
Europe manages to use the Euro just fine.
- SideQuark 2y ago
  About half of their extra EU trade is in USD, about half in Euro. Losing half of their import market and half of their export market would be the worst financial calamity they’ve ever faced. https://ec.europa.eu/eurostat/web/products-eurostat-news/w/ddn-20240624-1 https://ec.europa.eu/eurostat/web/products-eurostat-news/w/d...

reddalo 2y ago

> Call your representatives This is a very US-style approach; nobody calls their "representatives" in Europe, unluckily.