The BRICS; Brazil, Russia, India, China and South Africa (and Saudi Arabia) are already working on alternative means to international transaction with little or no reliance on the US Dollar.

There's an ongoing "Operation Sandman". Operation Sandman will put the US Dollar to sleep with about 142 countries' secret agreement to repudiate the US Dollar currency as there is currently no backings for the US Dollar. There's no Gold reserve backing it.

Today, it was reported that China and France completed first Yuan-settled LNG trade. And by doing so signaling the end of using the US Dollar for these energy trades.

China and Brazil have reached an agreement to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said on Wednesday in what was Beijing's latest blow to the US dollar.

What will happen to the United States when the world moves away from the US dollar?

Nigeria currently has its federal reserve in US Dollar. What are the benefits of having our federal reserve in US Dollar instead of the gold standard?

Shouldn't Nigeria also start stocking gold like other countries are currently doing?

What's your takes?

watch this video:

https://www.youtube.com/watch?v=rbVd2SAbzdI

A first guide, we signed a deal with China years back for naira Yuan swap based on our huge volume of trade. Did such an arrangement benefit our balance of trade position and foreign reserve holdings?

Only Countries with guts can try that.

All their assets gotten through corruption will be seized and the country split into 5

sholatech:
A first guide, we signed a deal with China years back for naira Yuan swap based on our huge volume of trade. Did such an arrangement benefit our balance of trade position and foreign reserve holdings?

I honestly don't know the answer to this question.

I don't know about the functionality of that deal all I can say is am sure Tinubu will try his best. Naira /dollar conversion is still more favourable than Naira /RMB conversion as at this week I imported stuff.

Nigeria should try to keep up with all this countries.

Listen to what this president have to say
https://www.youtube.com/watch?v=pVodxFIMg1s



I have some savings in Dollars too. I hope all is well...

https://www.youtube.com/watch?v=OiwT_0jHl4s

DUMP! dump! DUMP! CHINA SELLS $213.7 Billion of US TREASURIES｜WARREN BUFFETT WARNING

We once signed a Naira Yuan deal, whats the outcome of the deal?

Well, Nigeria should stay neutral

LOL.

Only someone who's father doesn't have a house will easily carry fuel to burn another person's house.

United States is not your problem. Even if you crash the dollar, the Naira will not improve because your leaders are busy looting instead of growing the economy. Busy with Nepotism and Emilokan attitude that drains the south south of her resources. Without oil there will be no Emilokan anywhere in Nigeria.

Your hate for the United state will get you nowhere. If you're successful in your endeavors they will grab you with speed. They don't associate with mediocrity. Stop trying to bring them down to your level.

Yes

NothingDoMe:
LOL.

Only someone who's father doesn't have a house will easily carry fuel to burn another person's house.

United States is not your problem. Even if you crash the dollar, the Naira will not improve because your leaders are busy looting instead of growing the economy. Busy with Nepotism and Emilokan attitude that drains the south south of her resources. Without oil there will be no Emilokan anywhere in Nigeria.

Your hate for the United state will get you nowhere. If you're successful in your endeavors they will grab you with speed. They don't associate with mediocrity. Stop trying to bring them down to your level.

Do not let your judgement be clouded with sentiments. Nobody hates the United States... or Should I state it clearly that I have never nurture any hate or dislike for even the least country of the world, talk less of the great US.

The word hate is not in my dictionary and I want you to stop being emotional here.

I created this post to sensitize people and to read people's opinion. Thanks!

Ikaeniyan0:
We once signed a Naira Yuan deal, whats the outcome of the deal?

Well, Nigeria should stay neutral

Does the deal give free Yuan to Nigerian citizens? How about easy access to China? That's the point. Countries are looking for useful partnerships.

It's painful that Useful Nigerians can't even travel to where they want. The ones that roam the streets and don't even pay tax will be that ones that want to determine what is best for Nigeria as whole.

Mediocrity at its peak.

You are using naira to buy naira. And US dollars is your problem?

UncleAyo:


Do not let you judgement be clouded with sentiments. Nobody hates the united States... or Should I state it clear that I have never nurture any hate or dislike for even the least country of the world, talk less of the great US.

The word hate is not in my dictionary and I want you to stop being emotional here.

I created this post to sensitize people and to read people's opinion. Thanks!

I've told you my take. The countries you mentioned that are swapping currencies are like ratio 1:7. Who will swap with Nigeria? Like who will accept Naira internationally and who will accept gold as a means of payment.

The USD plays a huge role to bridge the gap. How do we buy gold to use for our foreign transactions? 🤔

Nigeria shall be great

dollar

Well economically speaking, I think it'll be nice if Nigeria trades using its own currency. It'll make for a stronger Naira. I mean Russia did it with great outcomes. The whole dollar as an international means of exchange came at a time when gold was the international standard, and considering the US had the largest reserves (I think 2/3 of all gold available), it became a no brainer that their currency can be used in place of gold.

But I believe all that is changing now. It appears countries tired of US hegemony want to make their own destinies BRICS comes to mind. My major concern with this emerging trend is that it'll make the US weaker and thats not good for world peace. Whatever antics the US uses to perpetuate itself as the biggest world power, it's still better than having vampires like China and Russia at the helm of world affairs.

NaijaHelper1:
Well economically speaking, I think it'll be nice if Nigeria trades using its own currency. It'll make for a stronger Naira. I mean Russia did it with great outcomes. The whole dollar as an international means of exchange came at a time when gold was the international standard, and considering the US had the largest reserves (I think 2/3 of all gold available), it became a no brainer that their currency can be used in place of gold.

But I believe all that is changing now. It appears countries tired of US hegemony want to make their own destinies BRICS comes to mind. My major concern with this emerging trend is that it'll make the US weaker and thats not good for world peace. Whatever antics the US uses to perpetuate itself as the biggest world power, it's still better than having vampires like China and Russia at the helm of world affairs.

Thanks for this contribution.

I think the USA started this when they started printing money out of thin air neglecting gold backings but instead claiming economic strenght. They get values from all over the world with just printed papers. They also went into several debts.

My prayers are with the US. And I pray there is a solution out soonest...

Dollar is not your problem.

Just industrialize and watch things fall in place.

As simple as ABC.

Nigeria shall be great