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The BRICS have their problems, but after we printed $13 T in 2020, expropriated Russia's money, and then dialed-up interest rates to manage inflation at home, so do we. The fact that banks in other countries are unreliable for depositors doesn't say anything about whether those countries' governments will settle payments in each-others' currencies.With all of the pro China social media shilling it’s hard to know what to believe. And there is certainly far less red tape in Africa so it wouldn’t surprise me if these jobs do get done much faster than infrastructure projects here and at a level of quality far beyond what the local governments are capable of.
That said, while we certainly have our financial issues, the BRICS countries have far worse social and financial shenanigans. People in China use every opportunity to get their money out of China because their system is far less secure than ours. Brukuns has mentioned how his parents had money in their bank accounts expropriated. So yeah, I’m not too concerned about countries like that banding together because the global trust in those currencies will simply not be there.
Zimbabwe used to be called Rhodesia and was a rich country, much like Venezuela and Argentina. What happened?How about the billions of poor folks in other countries who were done dirty simply by having the bad luck of being born in Zimbabwe, or perhaps a Uighur in China. You’re beat before you even have a chance.
i thought it was 4 trillion? not that it matters, really. just curious where the 13 number comes from.
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As I mentioned to my sis in law this morning, "it's all about P. I. A. Perspective, Iniciative & Attitude".How about the billions of poor folks in other countries who were done dirty simply by having the bad luck of being born in Zimbabwe, or perhaps a Uighur in China. You’re beat before you even have a chance.
in the US, unles you have Job-like bad luck- any idiot with a scrap of work ethic can make a comfortable living.
ask any true blue American dream chasing first generation arrival. They LOL when they hear Americans complain about the “system” and “it’s impossible to get ahead” meanwhile Abdul was born to a goat herding father and a mother with a 2nd grade education, somehow made it here, and now owns 3 convenience stores and makes a half mill a year And HIS daughter is going to Stanford in the fall…
“This is America Babu! the Americans think this stuff is hard! My father now has 100 goats and lives in a walled compound outside Kabul and he now has THREE wives with 2nd grade educations!”
I posted this just over a year ago. Seems like they're finding a way. Problem is the aging populations of all countries involved, especially China. I think the BRICS alliance will ultimately fail, while bringing about a small amount of pressure. We need a super NAFTA w/Canada and Mexico. That would be an economic juggernaut if somehow it could align properly: Ag, Manufacturing and workforce...bring it all home to North America.Does anyone else feel like Russia's move against Ukraine is part of a larger conspiracy involving China and Saudi Arabia to marginalize the USD as the WRC? Start incursion by RUS, rapid response from West involves heavy sanctions but includes being removed from SWIFT. Could China and Saudi Arabia be secretly backing Putin to destabilize the US/European economies when they are already overleveraged and ready to collapse? Angling for the Chinese Yuan to replace the USD as the WRC? sh!t dawg...my tinfoil hat might be too tight....or not. But not having the USD as the WRC would sure benefit a lot of our adversaries.
I know what you’re doing and it’s complicated and you know I will agree with certain things on many sides of a tangled and tragic historyZimbabwe used to be called Rhodesia and was a rich country, much like Venezuela and Argentina. What happened?
You are right. I wish it weren't so, but only writers carving out niches in esoterica and the occult have any future:You are wrong.
Pause Giant AI Experiments: An Open Letter - Future of Life Institute
We call on all AI labs to immediately pause for at least 6 months the training of AI systems more powerful than GPT-4.futureoflife.org
I am wondering about the accuracy - I had heard USD transactions were closer to 60% on a Bloomberg podcast I was listening to.I am wrong about de-dollarization.
When you start dealing with numbers this large, there's a lot of uncertainty or different ways of measuring it.I am wondering about the accuracy - I had heard USD transactions were closer to 60% on a Bloomberg podcast I was listening to.
that's what I'm saying. dollar is near 90%, Euro 30% and so on...That bar chart would make a lot more sense if the annual bars added up to 100%
Notice these numbers add up to over 100? That's because both sides of the transaction are counted. The number is actually 45%.that's what I'm saying. dollar is near 90%, Euro 30% and so on...
The Euro is now the amalgamation of the previous European currencies which weren't plotted.I love when the euro entered the chat there was like a minuscule dip in the dollar and then it went right back up
This was your/grapedrink's argument.also, maybe in the long term we are in some phase of the decline of Pax Americana, but for at least the foreseeable future we have all the money and all the power. No other single country can actually pretend to rival us in any meaningful way. Even a bloc of countries would have a hard time defying us even economically, let alone militarily
This will remain true as long as we keep up our navy and China doesn't rival us in the blue water. Our shipbuilding is in very bad shape compared to 40 years go. Really we just need submarines for that.if I were like, Kazakhstan or Pakistan or Indonesia or really anyone, I would prefer to be friends and trading partners with us, and I think we want it that way too…we don’t want to occupy you, we just want you to do free and open business in a way that benefits everyone, especially us of course
The USA has to be a maritime power or starve.I’m a proponent of definitive and dominant naval superiority and the projection of power doctrine.
Martin Van Creveld said the same thing - now that they've proliferated, no one knows how to use them without ending life as we know it.Nukes are a threat and power that are almost irrelevant in the sense that if they came into play, it’s all over.
The idea of a an aircraft carrier is that most of the world's population lives within 200 miles of the coast, so you can just sail-up and bomb them. However, the Chinese have been working on area denial in the South China sea - HGVs and the ability to hit carriers with them. To render a carrier useless, you just have to damage the flight deck.so projection of real, tangible, overwhelming traditional force is key to keeping the peace. Can’t just rely on the “we can always nuke a real threat” because what if some rogue African dictator comes to some sort of true regional and dangerous power, and is crazy enough to call the nuke bluff. Unless you are ready to nuke Mali or Ghana, you best have a big bad ass military that can make good on the warnings without ending human existence
there I said it.