Morgan Stanley Sounds Alarm on US Dollar's Dominance — Says Crypto Could Signifi

[sirty143]

Morgan Stanley Sounds Alarm on US Dollar's Dominance — Says Crypto Could Significantly Alter Currency Landscape

Morgan Stanley has warned about the risk of the U.S. dollar losing its dominance, fueled by growing interest in digital assets, including bitcoin. Emphasizing that the U.S. dollar’s dominance “is being increasingly scrutinized... See more for yourself here.

Your opinion is greatly appreciated.

[Charles-Tim]

Morgan Stanley says this right?

Notably, the recent growth in interest of digital assets such as bitcoin, growth of stablecoin volumes, and the promise of central bank digital currencies (CBDCs), have potential to significantly alter the currency landscape.

Stablecoins are not threats. The reason is that the dominant stablecoins are collateralized with United States dollars (USD). As the world have more interests in USD, they will also prefer to have more interest in stablecoins that are pegged with USD.

CBDCs are just fiat and they should have no more use than fiat. They are not threats at all. People can not be deceived because CBDCs are not cryptocurrencies but fiat.

As for cryptocurrencies that are not stablecoins, they have not been a threat since. Although, some people will prefer to hold coins like bitcoin instead, but I do not see how threat they can be.

The threat that I see most are the BRICS. I read recently that three countries among them want to create BRRICS currency. If this is not a rumuor, I guess if it is done, it would be a disadvantage for the BRICS nation that accept it.

[Z-tight]

The U.S. dollar is not at risk due to any cryptocurrency or even any other fiat currency. I know it is not new to read propaganda concerning the U.S. dollar and how one currency or another is going to replace it as the world’s reserve currency, but that won’t happen, not with the strength of the dollar and how healthy the U.S economy is.

Take note that Satoshi did not create BTC to replace any fiat currency, it stands as an alternative and that is fine. Don’t believe it when people say things like this, there is no way this is going to happen in many years to come.

[Captain Corporate]

If I was USA government, I wouldn't see the rival in other stuff, not at gold, not at bitcoin, not at BRICS currency, nothing else. I would see the problem that USA has and why it is going that bad. Its not even about wealth gap anymore, its not about the fact that there are a lot of rich people and everyone is dirt poor, not about the fact that people could work their whole life, and one sickness could bankrupt them. No, its all about the fact that they printed %50 of Dollars in the last 5 years, 250 years and 5 years equaled same amount of printed money. Of course people will be running away from it as much as they can.

[Nwada001]

Bitcoin and other crypto currencies are not the problem that the US dollar is facing right now; people are waking up and countries are all tired of being overly dependent on the US economy, and it's local currency. That's why countries like China have paved the way for the use of their own local currency in their international trade with friendly countries.

CBDCs are just fiat and they should have no more use than fiat. They are not threats at all. People can not be deceived because CBDCs are not cryptocurrencies but fiat.

To start with, this is where most people get things wrong. They always feel and classify every digital currency as crypto currency; not everything that is digital is equal to crypto currency, and people always mistake the idea that CBDC is equal to crypto currency when it is just the same fiat that has been digitised.

[Don Pedro Dinero]

I just don't understand how all these companies that make so much money can be capable of such nonsense. To begin with, the dollar is not endangered by any crypto if we discount bitcoin, because they are not currencies, they are investments, and if we take into account only bitcoin, which is partly used as a currency but only residually. I don't know if they are deliberately trying to deceive.

[Aanuoluwatofunmi]

Morgan Stanley Sounds Alarm Morgan Stanley has warned about the risk of the U.S. dollar losing its dominance, fueled by growing interest in digital assets, including bitcoin. Emphasizing that the U.S. dollar’s dominance “is being increasingly scrutinized... See more for yourself here.

Everything has it own time and season in life's we may not have to force our way in when it isn't our fie time to manifest, the people wanted to have an alternative to fiat currency, bitcoin came in and make the difference and does not have to struggle it way with people for adoption as long as it contains the whole changes people have wanted to have in their financial economy, if this era is becoming more of digital currencies in the use of crypto, then that's fine by us all.

[TomPluz]

If I was USA government, I wouldn't see the rival in other stuff, not at gold, not at bitcoin, not at BRICS currency, nothing else. I would see the problem that USA has and why it is going that bad. Its not even about wealth gap anymore, its not about the fact that there are a lot of rich people and everyone is dirt poor, not about the fact that people could work their whole life, and one sickness could bankrupt them. No, its all about the fact that they printed %50 of Dollars in the last 5 years, 250 years and 5 years equaled same amount of printed money. Of course people will be running away from it as much as they can.

Right now, the USA economy is not doing good and the standard of living as can be felt on the main street is not the same anymore compared years ago. I don't want to go into politics but according to some experts including Jamie Dimon, the current administration under Biden is wrong on many aspects as it tends to be sympathetic to socialism ideas that may not be working in the first place. The risk of dedollarization for USA is very real and if the government will not act united on this front then we can really see the dominance of the dollar in the international stage to go down the drain as there are now many good alternative the market can use to transact business globally. In my opinion, the risk of Bitcoin and cryptocurrency is very minimal...what is concerning is the push of China, Russia and other countries to come up their own infrastructure replacing the dollar...partly because they are concerned on the health of US economy and partly because they "hate" America and will want to challenge its leadership in the international scene. I am more inclined to believe that this is coming - not a question of IF but of WHEN.

[Z-tight]

if this era is becoming more of digital currencies in the use of crypto, then that's fine by us all.

The use of digital assets is growing everywhere around the world, but the dominance of the U.S. dollar is not threatened by that, digitsl assets are alternative currencies and there is no way they can become the dominant currency.

Take note that cypto cannot replace fiat, even if the U.S. dollar is going to be replaced as the most dominant currency in the world, it will be replaced by another fast growing fiat currency and not by a cryptocurrency.