BRICS countries moving away from the US dollar

[CDDP]

Not good.

China Declares Support for Massive BRICS Expansion As Countries Push to Challenge US Dollar​

China says it’s fully backing a major expansion of the global economic alliance known as BRICS.

The country is ready to “bring more like-minded partners” into BRICS, which currently consists of Brazil, Russia, India, China, and South Africa, says Chinese foreign ministry spokesperson Mao Ning.

 

[CDDP]

 

[PawPower1981]

Not really worried about South African monies

 

[Emma tenywa]

The gold standard seems to be more stable

 

[Jtrain80]

The gold standard seems to be more stable

It did work for a couple thousand years.

 

[STMF2X]

You have to love the liberal way of looking at things, if we punish people they are just going to continue to misbehave anyway, so let’s just not do anything.

 

[STMF2X]

The gold standard seems to be more stable

This you @Emma tenywa ?

 

[Goldhedge]

Egypt submits application to join BRICS, says Russian envoy to Cairo​

Earlier in June, foreign ministers of BRICS member states, which include Russia, Brazil, India, China and South Africa, held a meeting in Cape Town

Egypt submits application to join BRICS - Russian ambassador to Cairo - I24NEWS

Earlier in June, foreign ministers of BRICS member states, which include Russia, Brazil, India, China and South Africa, held a meeting in Cape Town - Click the link for more details.

www.i24news.tv

 

[dirtytoeddawg]

You have to love the liberal way of looking at things, if we punish people they are just going to continue to misbehave anyway, so let’s just not do anything.

Pretty sure the discussion there is around not the "typical sanctions packages" but the attempts of using sanctions like a sledghammer against Russia effectively cutting their economy off from the western banking system. Which has directly led to Rus/China moving closer together and led directly to the moves of many non western nations to begin direct trade deals without the dollar & allowed China to begin recruiting more and more nations towards the brics alliances and away from US/western influence.

 

[hmt5000]

We went from "nobody is abandoning the dollar" to.... "Its only a few countries and its only party to party trades" to.... "We couldn't be the world reserve currency forever. Its better for us to be on equal footing with other currencies"...

 

[Emma tenywa]

This you @Emma tenywa ?

Ehem! Still gat some juice in me

 

[CDDP]

 

[Jtrain80]

But wait, I have had several asshats tell me that the dollar can never be defeated or even remotely challenged.

 

[Jake Broe Stan]

But wait, I have had several asshats tell me that the dollar can never be defeated or even remotely challenged.

Because it’s true. BRICS is a joke.

 

[BigBucnNole]

But wait, I have had several asshats tell me that the dollar can never be defeated or even remotely challenged.

Maybe you're the asshat?

 

[Edgehollow]

So, what's the play here?

 

[Jake Broe Stan]

So, what's the play here?

Dollars long.

 

[hmt5000]

So, what's the play here?

Become a stacker... or pretend that half the world leaving the dollar will have zero effect on the purchasing power of the dollar.... We have computer models and shit.

 

[Jake Broe Stan]

Become a stacker... or pretend that half the world leaving the dollar will have zero effect on the purchasing power of the dollar.... We have computer models and shit.

If someone knows how to Google they can see that there is nothing about your statement that is true.

“In addition to capital inflows due to high interest rates, the dollar has also benefitted from strong foreign direct investment in recent years. Direct investment includes ownership in companies or real estate. According to the World Bank, the U.S. attracted the highest level of foreign direct investment of any country in 2021, the most recent period for which there is data. At nearly $5 trillion, it was the second highest on record. We expect the trend to continue as companies shift production closer to major consumers in response to global trade tensions.”

Has the U.S. Dollar Peaked?

The decade-long bull market in the U.S. dollar may be leveling off, but we don't anticipate a major bear market in 2023.

www.schwab.com

 

[CDDP]

 

[CDDP]

 

[Edgehollow]

Elections have consequences.

 

[BigBucnNole]

Lol

 

[Joe King]

All of this would constitute reasonable searches under The Patriot Act.

Constitutionally, the patriot act is unreasonable.

Anyone who supports the patriot act obviously does not support the the intention of the Founders when writing our Constitution, as it it is in direct violation of that intent.

 

[Jake Broe Stan]

Constitutionally, the patriot act is unreasonable.

Anyone who supports the patriot act obviously does not support the the intention of the Founders when writing our Constitution, as it it is in direct violation of that intent.

Not according to our three branches of government and all the patriots who preserve, protect, and defend it.

You might disagree with it personally but to suggest that everyone else is wrong and that you are correct just because you say so is ridiculous.

 

[Joe King]

Not according to our three branches of government and all the patriots who preserve, protect, and defend it.

You might disagree with it personally but to suggest that everyone else is wrong and that you are correct just because you say so is ridiculous.

Well, you obviously disagree with the intent of the Constitution.
.....and that's the problem today. Too many people who just don't give a shit about the intent of the Constitution. That's why we have a gov today that does everything it can to destroy what the Founders started.

 

[Joe King]

Section 215 of the Patriot Act violates the Constitution in several ways. It: Violates the Fourth Amendment, which says the government cannot conduct a search without obtaining a warrant and showing probable cause to believe that the person has committed or will commit a crime.

 

[Joe King]

How the fuck could anyone who says they support the Constitution, support crap like this?

Sec. 213: Allows "Sneak and peek" search warrants, which let authorities search a home or business without immediately notifying the target of a probe.




Answer? They can't. It's entirely incompatible to support an abomination like the patriot act, while trying to say that you also support the Constitution as it was intended, as it is a clear violation of the 4th Amendment.

 

[Jake Broe Stan]

Well, you obviously disagree with the intent of the Constitution.
.....and that's the problem today. Too many people who just don't give a shit about the intent of the Constitution. That's why we have a gov today that does everything it can to destroy what the Founders started.

I’d say it’s you who don’t give a shit about The Constitution but I do agree with you that too many people today don’t respect what The Founders started.

 

[Jake Broe Stan]

How the fuck could anyone who says they support the Constitution, support crap like this?

Sec. 213: Allows "Sneak and peek" search warrants, which let authorities search a home or business without immediately notifying the target of a probe.




Answer? They can't. It's entirely incompatible to support an abomination like the patriot act, while trying to say that you also support the Constitution as it was intended, as it is a clear violation of the 4th Amendment.

Reasonable search and seizure doesn’t mean you have the right to be informed that you are being searched (in particular circumstances).

You’re being flippant to suggest otherwise. The Founders just wanted the authorities (executive branch) to get a warrant (check with the judiciary) before searches.

 

[TopHook]

 

[Jtrain80]

Maybe you're the asshat?

Oh... the irony of you responding to that particular post.

 

[BigBucnNole]

Oh... the irony of you responding to that particular post.

You're the dumbass that thinks the dollar could be replaced.

 

[hmt5000]

You're the dumbass that thinks the dollar could be replaced.

Hasn't foreign banks dollar reserves fallen from 87% to around 48% the last few years? Wouldn't that suggest that half the dollars in the world have been replaced?

 

[Jake Broe Stan]

Hasn't foreign banks dollar reserves fallen from 87% to around 48% the last few years? Wouldn't that suggest that half the dollars in the world have been replaced?

No.

The dollars is reserve has increased over that time. It’s just the reserves have gotten bigger as well.

A bigger pie is bigger for everyone even if the percentage of the pie allocated changes in percentage by a bit.

 

[BigBucnNole]

Hasn't foreign banks dollar reserves fallen from 87% to around 48% the last few years? Wouldn't that suggest that half the dollars in the world have been replaced?

Bank holdings of USD? There's about 7.5 trillion in foreign debt holdings of USD. There is 4 trillion traded daily in USD. You do the math how much stock holdings mean tot he demand for the dollar.

 

[hmt5000]

Bank holdings of USD? There's about 7.5 trillion in foreign debt holdings of USD. There is 4 trillion traded daily in USD. You do the math how much stock holdings mean tot he demand for the dollar.

Central banks. I saw a report that said that they held 87% of their reserves in US dollars pre 2019. Now its down to 48%.


It's easy to say that a bunch of poor countries switching isn't a big deal but just a few years ago we were saying that nobody was leaving the dollar. Then it was just a few BRICS countries. Now it's just a bunch of poor countries. It just seems like we are moving the goal post of what is bad news in order to say that "we aren't getting any bad news".

 

[Jake Broe Stan]

Central banks. I saw a report that said that they held 87% of their reserves in US dollars pre 2019. Now its down to 48%.


It's easy to say that a bunch of poor countries switching isn't a big deal but just a few years ago we were saying that nobody was leaving the dollar. Then it was just a few BRICS countries. Now it's just a bunch of poor countries. It just seems like we are moving the goal post of what is bad news in order to say that "we aren't getting any bad news".

People have been saying that BRICS was dedollarizing for decades and it’s never happened. It’s fake news.

The reasons countries don’t have the same percentage of dollars in reserves is because there isn’t enough dollars in circulation for that to even be possible, not because they don’t want to do it.

Demand for dollars and US bonds is very strong.

 

[Rebarcock.]

Not good.

China Declares Support for Massive BRICS Expansion As Countries Push to Challenge US Dollar​

China says it’s fully backing a major expansion of the global economic alliance known as BRICS.

The country is ready to “bring more like-minded partners” into BRICS, which currently consists of Brazil, Russia, India, China, and South Africa, says Chinese foreign ministry spokesperson Mao Ning.

Commodity and trade experience

 

[Jake Broe Stan]

OP’s posts have aged like milk.