{"id":208,"date":"2021-10-21T10:52:00","date_gmt":"2021-10-21T10:52:00","guid":{"rendered":"https:\/\/rakshithpai.com\/?p=208"},"modified":"2023-12-22T13:24:55","modified_gmt":"2023-12-22T13:24:55","slug":"time-for-change-in-the-us-dollar-based-monetary-system-is-here","status":"publish","type":"post","link":"https:\/\/rakshithpai.com\/time-for-change-in-the-us-dollar-based-monetary-system-is-here\/","title":{"rendered":"Time for change in the US dollar based monetary system is here!"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-662cf922c7c66\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\" style='display:none' id=\"ez-toc-cssicon-toggle-item-662cf922c7c66\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/rakshithpai.com\/time-for-change-in-the-us-dollar-based-monetary-system-is-here\/#The_US_debt_problem\" title=\"The US debt problem:\">The US debt problem:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/rakshithpai.com\/time-for-change-in-the-us-dollar-based-monetary-system-is-here\/#Whats_the_US_Debt_situation\" title=\"What&#8217;s the US Debt situation?\">What&#8217;s the US Debt situation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/rakshithpai.com\/time-for-change-in-the-us-dollar-based-monetary-system-is-here\/#Debt_war_between_the_Developed_and_the_Developing_nation\" title=\"Debt war between the Developed and the Developing nation:\">Debt war between the Developed and the Developing nation:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/rakshithpai.com\/time-for-change-in-the-us-dollar-based-monetary-system-is-here\/#The_Feds_way_of_the_solution\" title=\"The Fed&#8217;s way of the solution!\">The Fed&#8217;s way of the solution!<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/rakshithpai.com\/time-for-change-in-the-us-dollar-based-monetary-system-is-here\/#So_whats_the_future_then\" title=\"So, what\u2019s the future then?\">So, what\u2019s the future then?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/rakshithpai.com\/time-for-change-in-the-us-dollar-based-monetary-system-is-here\/#Also_read\" title=\"Also read:\">Also read:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_US_debt_problem\"><\/span><strong>The US debt problem:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The United States of America has to date thrown in over 3 trillion dollars for COVID relief. Thus, increasing US National debt at such a rate never seen before. At the time of writing this article, the <strong>US National debt stood at a little shy of 26.5 trillion dollars. Thus, a debt per capita at over 80k in dollars per citizen<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2020\/07\/Capture1-300x207.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>We know, uncertain events such as this call for unprecedented action. The Covid-19 has stopped the economic cycle entirely all over the world. <strong>With over 130% in debt to GDP, the US is going to have tough times ahead<\/strong>. No, I&#8217;m not talking about its loan repayment. I\u2019m talking of its repayment of interest over the loan.&nbsp; <\/p>\n\n\n\n<p class=\"has-text-align-center\"><b>As shown, Global debt-to-GDP is at an all-time high reaching over 320%. Amounting to total debt of over 253 trillion dollars.<\/b><\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-1 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/upstox.com\/open-account\/?f=FN1853\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Whats_the_US_Debt_situation\"><\/span><strong>What&#8217;s the US Debt situation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Unfortunately, it&#8217;s not just the US. <strong>The global debt-to-GDP ratio has peaked to its WW2 level<\/strong>. Moreover, western countries are especially fond of credit. They are their new norms. But, spending that which you don\u2019t own leads to creating such an event wherein you\u2019ll have to liquefy what you own for repayment.<\/p>\n\n\n\n<p>Saving for a rainy day is highly underrated amongst the present generation. Financial planners suggest having savings at over 6 months of expenses. Saving is defined as a mode of lifestyle with limited consumption. Limiting our present consumption to provide for the funds in case of such uncertain events as COVID.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2020\/07\/Eb6oQ8MXYAEPPvo-226x300.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p>The importance of savings and wealth creation has become an endangered term. The paradigm shift tells us a lot about the change of global order, one among them is how a developed economy takes credit for granted wherein, the developing economy strives in saving and wealth creation only to replace the developed economy and follow the same path of debt pile up. It\u2019s a loop, an unbreakable cycle where wealth transfers from one country to another. It\u2019s time for an Asian country to hold the baton now.<br><\/p>\n\n\n\n<p class=\"has-text-align-center\"><b>As shown, the developed economies are more indebted than emerging economies.<\/b><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Debt_war_between_the_Developed_and_the_Developing_nation\"><\/span><strong>Debt war between the Developed and the Developing nation:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As seen in the picture above, It\u2019s those developed economies that are highly indebted. And, whom do they owe such staggering debt? Well, it&#8217;s funny to see that the developed economies owe these debts to the emerging economies (Not in entirely). I.e, China, and others.<\/p>\n\n\n\n<p><strong>China being the 2nd largest economy<\/strong> in the world is still named under \u2018emerging economy\u2019. The same China holds over <strong>1 trillion dollars in treasury bonds<\/strong> or about <strong>5% of US national debt<\/strong>. With over <strong>3 trillion dollars in Forex reserves<\/strong>, China is in a much more comfortable position financially than any other western country.<\/p>\n\n\n\n<p>This systemic failure to recognize China\u2019s position shows up the institutionalized corruption among global organizations. Acting in favor of China over the years and communism as its governing &amp; constituting body has led to such an enormous economically feasible environment for Chinese businesses that none could compete with them at the domestic or global level.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-2 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/upstox.com\/open-account\/?f=FN1853\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p>On one hand, China is gaining power and the other way the US is losing its superiority in the global market. China now accounts for over 12% of exports in global trade valuing at over 4.5 trillion dollars. This recession <strong>\u2018The debt-based global recession &#8211; 2020\u2019<\/strong> can change the monetary system. The US is the largest debtor and China being the largest creditor. It\u2019s a change of power from the US to China.<\/p>\n\n\n\n<p>As quoted in the article <b>\u201c<\/b><b>The Elites Are Already Prepared For The Coming Collapse Of The Dollar Bubble\u201d <\/b>by Tyler Durden &#8211; Zero Hedge. The US dollar-based Monetary system is at its brink of collapse and has made way for an alternative monetary system.<br>I believe the alternative is something such as <a href=\"https:\/\/rakshithpai.com\/is-gold-investment-still-worth-the-shine\/\"><b>Crypto-Gold<\/b><\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2020\/07\/Table-300x156.png\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><b>Feb balance sheet surge as shown in the above graph, Trump government had its intention to reduce the balance sheet by the end of the term only to double it due to Covid-19.<\/b><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Feds_way_of_the_solution\"><\/span><strong>The Fed&#8217;s way of the solution!<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The US president knew the debt pile-up and was on this thought to somehow reduce the fed balance sheet to its minimum level and then struck the COVID pandemic. As of June 2020, <strong>the fed balance sheet has risen over 7 trillion dollars<\/strong> (as shown above). There is no way the US can shrink this balance sheet without calling for a major recession. The time for the major recession is on its way and the same to have a dire effect on a global scale.<br><strong>Remember 2008, \u2018The Great Recession<\/strong>. The one that negatively affected globally over 2 trillion dollars in economic growth, the stock market all over the world had its fair share of dark days and unemployment was at its peak for the decade. Those economists who predict a \u201cV-shaped recovery\u201d are making a joke out of the pandemic. It\u2019s just the beginning for we are to see a major correction in asset prices and this pandemic-based recession could easily surpass the great recession.<\/p>\n\n\n\n<p><br><strong>The market crash was a long-awaited one (Over 12 yrs in making)<\/strong>. Every crash gives way for a new set of companies to flourish. But, such a pandemic-based recession can topple down an entire country and its currency system that was ruling the world for over half a century. It\u2019s time for the end of US dollar debt-based, value-ridden monetary systems to end and make way for an asset-based monetary system.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"So_whats_the_future_then\"><\/span><strong>So, what\u2019s the future then?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><br>World-renowned investor <strong>Mr.Jim Rogers<\/strong> once said, <strong>\u201cIf you are living in the 21st century and wanna create wealth then you have to move to Asia\u201d<\/strong>. World order changes and when it does, it creates this huge change of hands in power between countries. Although, a lot of economists and well-known investors weigh in on China when it comes to the next superpower. I highly doubt it!<\/p>\n\n\n\n<p>Yes, <strong>I certainly believe the next future is in Asia<\/strong>. No, not communist Asia! The democratic capitalism that\u2019s making way. China is a communist capitalist country that\u2019s highly filled with corruption and concentrated wealth. There\u2019s no denying the fact that China is one of the richest countries as of today. But, the major drawback is that China has its identity over a political party (CCP). If you are someone fond of political history then, you are certainly aware of the future a communist party holds. Yes, it&#8217;s not sustainable. Especially the way China behaves towards its neighbors.<\/p>\n\n\n\n<p>I believe the future to lead with a new monetary system is amongst an Asian country. In my follow-up write, I\u2019ll explain why not other Asian countries but India.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-3 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/upstox.com\/open-account\/?f=FN1853\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><b>Disclaimer<\/b>: All the information on this website is published in good faith and for general information purpose only.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Also_read\"><\/span><strong>Also read:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul>\n<li><strong><a href=\"https:\/\/rakshithpai.com\/best-investment-plans-india-middle-class\/\">Best Investment Plans in India for Middle Class<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/rakshithpai.com\/how-to-invest-in-stock-market-a-beginners-guide-to-investing\/\">How to Start Investing? A Beginners Guide to Investing<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/rakshithpai.com\/how-to-construct-a-profitable-investment-portfolio\/\">How To Construct a Profitable Investment Portfolio?<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/rakshithpai.com\/investing-in-your-20s\/\">Investing tips in your 20s<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/rakshithpai.com\/investing-in-your-30s\/\">Investing tips in your 30s<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/rakshithpai.com\/portfolio-allocation-asset-correlation-importance\/\">Portfolio Allocation, Asset Correlation &amp; its importance!<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/rakshithpai.com\/best-warren-buffett-quotes\/\">Best Warren Buffett Quotes<\/a><\/strong><\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/zerodha.com\/open-account?c=PR4768\" rel=\"nofollow\"><br> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US debt problem: The United States of America has to date thrown in over 3 trillion dollars for COVID relief. Thus, increasing US National debt at such a rate never seen before. At the time of writing this article, the US National debt stood at a little shy of 26.5 trillion dollars. Thus, a [&hellip;]<\/p>\n<div class='heateor_sss_sharing_container heateor_sss_vertical_sharing heateor_sss_bottom_sharing' style='width:44px;right: -10px;top: 100px;background-color: Dark Blue' data-heateor-sss-href='https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/208'><div class=\"heateor_sss_sharing_ul\"><a aria-label=\"Facebook\" class=\"heateor_sss_facebook\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Frakshithpai.com%2Fwp-json%2Fwp%2Fv2%2Fposts%2F208\" title=\"Facebook\" rel=\"nofollow noopener\" target=\"_blank\" style=\"font-size:32px!important;box-shadow:none;display:inline-block;vertical-align:middle\"><span class=\"heateor_sss_svg\" style=\"background-color:#0765FE;width:40px;height:40px;margin:0;display:inline-block;opacity:1;float:left;font-size:32px;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box\"><svg 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Thus, a&hellip;","_links":{"self":[{"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/208"}],"collection":[{"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/comments?post=208"}],"version-history":[{"count":21,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/208\/revisions"}],"predecessor-version":[{"id":8135,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/208\/revisions\/8135"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/media\/1152"}],"wp:attachment":[{"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/media?parent=208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/categories?post=208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/tags?post=208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}