U.S. has plundered world wealth with dollar: China paper

U.S. has plundered world wealth with dollar: China paper | Reuters BEIJING (Reuters) - The United States has plundered global wealth by exploiting the dollar's dominance, and the world urgently needs other currencies to take its place, a leading Chinese state newspaper said on Friday. The front-page commentary in the overseas edition of the People's Daily said that Asian and European countries should banish the U.S. dollar from their direct trade relations for a start, relying only on their own currencies. the free ride is over, now what?

it seems very dumb for one country to use another $$$ to trade with other countries

In Chile, during the 1970s, inflation was really bad, and people all tried to get their hands on US dollars since they would keep their value. After WWII, the US was the dominant power in the world, and we were considered the safest and most stable nation. We used that to our advantage for years, to the point that now, there are more US dollars outside the US than in it.

Doctor Pot said:

In Chile, during the 1970s, inflation was really bad, and people all tried to get their hands on US dollars since they would keep their value. After WWII, the US was the dominant power in the world, and we were considered the safest and most stable nation. We used that to our advantage for years, to the point that now, there are more US dollars outside the US than in it.

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after the europe and japan were trashed and the usa had their manufacturing capacity intact the deal was the the usa would loan everyone the money to rebuild as long as they bought their stuff from the usa and the other condition is that the usd had to be used to buy oil with so all of the central banks in these countries had to stock pile usd. it became known as the petrodollar. well a few decades later it came off the gold standard so if you have nothing to back your money the difference in printing a 5 or a 50 was 45 profit.

iraqs great sin was to trade oil for euros and that is why the usa went there. once the world stops taking usd that is the end of americas free ride. iran is setting up trading in the euro and that is the reason they will be attacked if it happens. the usa backs its currency dominance with bullets and assassinations