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That's the thing though the USD doesn't need to lose its world reserve currency status over night. Brics can just slowly ween off the dollar, trading commodities instead. Basically killing the dollar in a death by a thousand cuts style instead. The more damage done to the dollar the weaker the West will become.Move away from it to... what? Monopoly money is realer currency than the yuan.
Much of BRICS are resource extraction based economies (Russia: Oil/Gold, Brazil: lumber/ore/food, SA: Gold/gems/ore, India: Refined oil/gemstones/medication). if they keep commodities in reserve for hard times all that would lead to is having to sell low and buy high.That's the thing though the USD doesn't need to lose its world reserve currency status over night. Brics can just slowly ween off the dollar, trading commodities instead. Basically killing the dollar in a death by a thousand cuts style instead. The more damage done to the dollar the weaker the West will become.
Keep in mind too that the US is out of money and will be forced to print more money to meet its obligations. If we get into a major war that will drive inflation up making the Ukraine war look like nothing. The more the USD is inflated the more nations will want to ween off it.
Good work showing why the 19th Amendment was a mistake.
True I suppose but to an extent. Some alumni networks are more zealous than others. I'm sure not many graduates give a damn about the alumni network at random community college X in the middle of Nebraska but when it comes to brand names like USC and Harvard, the zealousness is cranked up to a gorillian.Ain’t that true of every alumni network? And Greek society?
Wew lad. History doesn't repeat, but it often rhymes.His exact words to describe that they lost were "the war situation has developed not necessarily to Japan's advantage"
Local currencies and goods. A lot of the changes in trade are changing to local currencies and not just the yuan, and there are some goods-for-goods bartering going on now. The only reason why a global currency was being used was because the US would install puppet governments if any one tried to wean off the dollar.Move away from it to... what? Monopoly money is realer currency than the yuan.
the founding fathers were students of the classics and fucking stans for the romans espically Cincinnatus, the geroge washington liked to portray himself as such. Hence him stepping away from power.I don't know when was the moment when American politicians became celebrities (maybe it goes all the way back to Washington based on the artwork of him as a general and a president). This probably not new since ancient civilizations did similar things with their leaders.
Something something history something something rhymes.
This is why I can’t quite wrap my head around the CBDCs. Not that I think they aren’t going for it, but rather, how is this going to work? Currency (especially USD) does so much more than what they’ve rolled out as CBSC features so far.that's the thing. there is no other currency that can do what the dollar does, and the US has used the dollar as a weapon since bretton-woods so that is nothing new (some would say its the main point of being the reserve currency). for any currency to be a global reserve currency it must not discriminate between citizen's and foreigners, and be completely open to inflow's and outflow's. few capital controls at all. China cannot allow that, and wouldn't even if they could. not many countries would. the CCP hold's the yuan with a iron grip.
If the US stopped being the world reserve the US itself would likely see greater and faster growth and less debt (because the value of the dollar would fall, making US exports more competitive internationally) and slower growth for the rest of the world especially Asia and Africa (because they are cut off from the US money spigot and market).
that has nothing to do with a currency's use in international trade or as a reserve.
That joke would had worked a year ago, not anymore.Move away from it to... what? Monopoly money is realer currency than the yuan.
that's not how any of that works. China NEEDS the Yuan to be worthless so they can be competitive. if it replaces the USD that stops.That joke would had worked a year ago, not anymore.
Its not just the BRICS that are joining in international Yuan substitution, the entirety of the middle east (sans Israel) its already in on it, but also a lot of other 3rd world countries are smelling the blood in the water and starting to trade in Yuan with China instead of the dollar and as the US continues to enforce mandatory tranny cocksucking while China builds off-shore sweatshops in dirt poor countries more previously neutral nations are going to switch favorites.
Last year the Yuan was meme money, now its starting its baby steps to become an actual contender for the dollar and 80% of america still holds that same belief that "Yuan is monopoly money lol" as it starts to snowball to dethrone the dollar, the other 20% that are paying attention are more than ready to switch their dollars to Yuan the second the scale tips and are waiting patiently, when the time comes itll flip like a switch
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99 red balloons
Floating in the summer sky
Panic bells it's red alert
There's something here from somewhere else
The war machine springs to life
Opens up one eager eye
Focusing it on the sky
Where 99 red balloons go by