/leftypol/ - Leftist Politically Incorrect

We should make a currency tied to the price of human blood.

>>2886145
>What if the yuan replaces the dollar?
Its not if but when. Porkies will have trouble valuating their assets with multiple currencies but Im sure they will manage.

Dollar losing its status as USD is bad for financial porkies but good for industrial porkies who want to see the dollar devalued to boost exports. Remember that the US, Germany, Japan and a whole bunch of other countries industrialized and became great powers while the British Pound was the reserve currency. Having reserve status is not really a mandatory thing for imperialism.

Probably something stupid like digital certificates for gold dildos.

the need for a global reserve currency that isn't controlled by any one country is extremely obvious. this would prevent one country from having a currency hegemony, and forcing everyone to hold large reserves of their currency. this would prevent exorbitant privilege. of course conservatards in the usa and other countries have been trained by christcuck evangelicals to view any advancement beyond nationalism as the literal hecking mark of the beast. so we will be stuck forever cycling between imperial hegemons because religoids are trained to burn everything down whenever humans try to overcome their own self imposed retarded systems.

>>2886145
Slowly enter a monetary chaos until some new standard is established through power in the international game

>>2886145
Most likely the current system will evolve to an unofficial bipolar one of USA dollar and renminbi. Unofficial because the PRC are cowards unwilling to take the global leadership reigns.

>>2886145
Not much, sub-saharan african trade doesn't really matter outside of a few mines in south africa

>>2886145
https://www.eastisread.com/p/xu-gao-the-future-of-money-and-chinas
>Xu Gao, Chief Economist of Bank of China International (China) Co., Ltd., examines the future of the international monetary system at a time when confidence in the dollar-centred Jamaica system is under growing strain. He argues that neither a return to gold or commodity backing, nor a eurozone-style single-currency area, nor sovereignless cryptocurrencies can provide a viable foundation for the next international monetary system. The more plausible long-term path, in his view, is the emergence of a supranational currency linked to a basket of sovereign currencies, gradually replacing the dollar’s central role in international payments.

>For China, Xu argues, the priority should not be to overturn the dollar-centred system prematurely or to make renminbi internationalisation a bid to replace the dollar. China still benefits from the external-demand space created by global imbalances under the current system. Preserving the existing system, at least for now, helps China absorb some of the adjustment pressure created by insufficient domestic demand and excess supply. At the same time, making the renminbi the main international reserve currency brings costs that far outweigh the benefits.

>Xu therefore argues that China should focus on securing international payment channels, expanding the renminbi payment network, developing mechanisms such as currency swaps and overdraft arrangements to supply renminbi liquidity, and supporting the longer-term development of a supranational currency through SDR reform or proposals such as a BRICS currency.

We're bringing the Bancor back, baby! (with Chinese Characteristics)

>>2887364
That's what Bitcoin was suppose to be. Privacy coins are the closest to what we have to a neutral currency right now just because they're unashamed of being used for drugs and hitmen, which is kryptonite to the bourgeoisie

>>2886145
How about we abolish the value form instead of investing in the People's Coin?

>>2887390
shitcoins are anti-centralization and so they manage to be even more local and deregulated than national currencies. the key is to overcome nationalism but shitcoins cannot be international because their purpose is to destroy the climate so lumpen can buy drugs and petty bourgeoisie can kill their ex wives. it's literally the opposite of what needs to be done LMFAO. lolbertarians, man.

>>2887392
Yeah

>>2887461
Just make the Bancor real, we’re all still Keynesians

the idea of global currency is like if someone won lots of tokens at a chuck e. cheese pizza and they got it in their heads that if they turn the entire world into a gigantic planet-sized chuck e. cheese pizza, then they would rule the world.

The revolutionary money of the future will emerge dialectically from within old money, and in the tradition of occupying powers, the new money will stamp its symbols on existing currency, creating a parasitic relationship with the original issuer, which is the state, which also no longer exists. This should be sufficiently well received to then diversify into other financial instruments, mediums, and mechanisms.

>>2886650
>the need for a global reserve currency that isn't controlled by any one country is extremely obvious
The U.N should have created a global reserve currency.

>>2886145
Multypolarity or algo. It probably won't happen in our lifetimes.

>>2886145
China is not setting up the Renminbi to replace the dollar. Like >>2887130 says future trade balances will be settled by a currency basket of several nations and partially backed by gold.

In fact the technology is already here, explained in two parts:

The Currency
>Unit is a planned payment system for the BRICS+ countries based on a new international currency, backed by gold (40%) and different currencies (60%).

>The Unit is not a cryptocurrency, but rather a benchmark token—or index token—backed by real assets: 40% gold by weight, not by nominal value, and 60% in the national currencies of the BRICS+ nations.

>Major bank JP Morgan called The Unit “perhaps the most thoroughly developed de-dollarization proposal in the area of cross-border transactions for BRICS+.”

https://en.wikipedia.org/wiki/Unit_(currency)

The Trade Platform
(Sanctions Proof, uses no USD. Open Source. Uses blockchain technology to settle trade balances in a decentralized way, i.e China or America doesn't control it)

>BRICS PAY will feature a decentralized Cross-border messaging system (DCMS), developed by scientists of the Center of Saint-Petersburg State University of Russia. DCMS operates transparently, without any central owner or hub. Participants manage their own nodes, allegedly making the system resistant to external abuse, control, or interference. The system does not feature mandatory transaction fees, but allows participants to optionally charge one another if they choose to. DCMS automatically builds transaction routes between participants, aiming to ensure reliable communication even in cases where direct transmission is unavailable. The goal is to minimize settlement imbalances between counterparties. Messages will be encrypted and signed, with multiple encryption mechanisms available. Participants can establish currency conversion rates and transaction limits. With recommended settings, DCMS claims to reach 20,000 messages per second, while on the other hand imposing minimal hardware requirements. DCMS is also planned to be open source, after passing the piloting phase.

<The member states view BRICS Pay to promote trade among its members, financial inclusion, and as a direction to reduce their reliance on the US dollar. Russia has been the strongest proponent of BRICS Pay, to bypass the SWIFT network and the US dollar transactions, but it was sanctioned from following its invasion of Ukraine. Iran, also under US sanctions, sees this as a top national priority. Brazil's president Lula da Silva also supported the mechanism, stating that "the multipolar order we aim for is reflected in the international financial system" and suggested a BRICS currency.

https://en.wikipedia.org/wiki/BRICS_Pay

The Precursor to BRICS Pay, a platform called project MBridge, is already in use by China to dodge sanctions
>Chinese regulators have since directed banks to use mBridge and it has been used by firms operating in Xinjiang to avoid U.S. sanctions related to the persecution of Uyghurs in China.

https://en.wikipedia.org/wiki/MBridge

>>2887537
This was a proof of concept that apparently has gone nowhere since it was announced at BRICS Con 2024.

>>2887538
well yeah its obviously in development. trumps retarded war on the global economy is no doubt accelerating this transition

>>2887540
Are you sure? See: >>2857153