Could China Kill The US Dollar ?

I've just finished watching a Youtube video titled 'Could China Kill The US Dollar?' Here are my thoughts and comments:

My personal opinion is that China could indeed kill the US Dollar, but she would do so only gradually, not suddenly. She has been doing so slowly, but picking up speed recently, as evidenced by the newly formed China-led Asia Infrastructure Investment Bank (AIIB), increase of gold production and purchase, and bi-lateral agreements signed with many countries in using their own currencies for trading, bypassing the use of US Dollar. 

The HSBC (Hong Kong and Shanghai Banking Corporation) is a British Bank with a deep Chinese root. Both UK and Hong Kong are HSBC's 'home markets'. HSBC is thinking of moving its headquarters from London to Hong Kong. The UK was the first Western country and US ally that joined the China-led AIIB, followed by many others. Uncle Sam was not pleased.

I don't think China really wants to kill the US Dollar completely. China just wants to de-dollarize the world. China, Russia, Asia, Africa, Latin America, Middle East, even Europe and the World, just don't want to be completely dominated by the US any more. No more unipolar world controlled by big-boss America !
 
There are many speculations or predictions that the US Dollar will collapse, but my guess is that it will not die with a big bang but with a whimper. China is killing the US Dollar softy with her Yuan (Chinese Dollar), also known as Renminbi (People's money). 

Some Americans are super wealthy, but as a whole, the US as a country is broke, owing trillions of dollars to China, Japan and other countries. The 1% is still doing great of course, but the 99% is struggling. Does Uncle Sam still want to go to war, which is a super expensive, terrifying and deadly game, profitable only to a few people, but at the expense of the life and death of many ? 

The US Dollar may not even die, but it will no longer be the only dominant trading and reserve currency of the world. China's rise is certain, but the US' decline is not. Instead of setting road blocks and preventing China from rising, Uncle Sam should pay attention to his own many problems. As Jimmy Carter said, the U.S. must respect China, and vice versa. If a nuclear Third World War breaks out, the whole world will be finished. We must never let that happen. 

The American Dollar

The American Dollar is no longer as mighty as it was. The Almighty Dollar doesn't sound Almighty any more.On the latest trip of Stephen Harper to Beijing, Canada signed a currency deal with China. Business between the two countries can now be conducted in their own currencies of Canadian Dollar and Chinese Yuan.

Canada is not the first country which has signed such a currency deal with China. Many countries have already done so. This enables business between countries to be conducted directly in their own currencies, without having to take the extra step of converting them  to U.S. money.  

As many know, the American Dollar was backed by gold in the past. In 1971, president Nixon untied the American Dollar from gold. It then became the Petro Dollar. International trading of oil and other commodities was then conducted in U.S. currency. At the present, the American Dollar is just fiat money backed by nothing, except you may say that it is backed by bullets and bombs. In other words, Uncle Sam would get mad and force you to use the American Dollar, and if you refused to comply, he would make your life difficult, by using political pressure, economic sanction, and even military action.   

The game of creating American money from thin air will be over. It may not be completely replaced by another new game, but it will not be the only game, or the primary game.

Some economists, investors, financial people, or even conspiracy theorists predict that the American Dollar will collapse soon. I don't agree with them entirely. I don't think that it will be a sudden and quick collapse. I believe it will gradually lose its status as the international trading and reserved currency. It is already happening. All said, I could be wrong, so please don't point finger at me, if the American Dollar suddenly collapsed. I pray that it won't, because if it happens this way, the American people will suffer greatly beyond words.     

Uncle Sam is in heavy debt, owing trillions of dollars to China and other countries. It is a losing game, to keep borrowing and printing money, in order to maintain a false or exaggerated economy, and to finance the very expensive military adventures everywhere.

Will the Almighty Dollar, the American Greenback, give way to the Chinese Yuan (Dollar) or Reminbi (people's money) ? Just wait and see !!!