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I wouldn't heed anything a buy and hold 90 year old globalist might of said 30 years ago. The world is changing fast and now that Iran is focusing on Geneva instead of Israel, things can go south very quickly.
The US dollar is losing its world reserve currency status because of the efforts by BRICS+ to stop using USD in trade. We are already seeing the USD is losing trade volume. Soon the issue could be the US Govt can’t just print the money it needs without massive hyperinflation.
And I don't mean to be rude, I really don't, but it's "might HAVE said", not "might OF said". It's hard for me to take people seriously on economic topics like this when they can't even get that right.
I was wondering about the moniker: is it analytics or any litics?
Haven't looked at CNBC or any NBC with any regularity since Kudlow and Cramer split into two shows. So I guess I missed Buffet's latest valuable opinion.
Their data isn't worth analyzation, As well as my screen name or posts, but you should be "lit" to it all. All after hours entertainment!
Should be "might a said", says a lot for our education system, don't it!!! Garbage in, garbage out, for sure.
But seriously, I am a little more concerned about the direction of the US than Buffet may acknowledge, even though I'm old too.
Last edited by bobbyanylitics; 08-19-2023 at 11:42 AM..
A whole lot of nothing. The rest of the world is not going to embrace a currency issued by any unstable, war mongering, oppressive socialist, communist or theocratic government.
"There are some things people shouldn't worry about. This is one. The dollar is the reserve currency of the world, and everybody knows it,"
- Warren Buffett
Right? I mean anyone who is dumb enough to utilize Chinese or Russian currency deserves to have their money stolen. Hilarious that people worry about complete non-events.
Right? I mean anyone who is dumb enough to utilize Chinese or Russian currency deserves to have their money stolen. Hilarious that people worry about complete non-events.
Yup! Welcome to the Chinese digital yuan, with an expiration date lol.
It's my understanding that BRICS are not proposing a 'currency' like the dollar or euro.
Rather they are proposing a sort of Bancor international settlement 'currency' that was first imagined by Keynes after WWII.
So this is not a currency that would be used domestically like a national currency and would not be floated on a international money market.
And probably to be backed by gold.
It's a re-hashed idea that the central bank governor of China has a paper published on, in 2009.
Though very little has been made public about it. I'm just taking this from one of persons I tune into.
Right? I mean anyone who is dumb enough to utilize Chinese or Russian currency deserves to have their money stolen. Hilarious that people worry about complete non-events.
Well currently if you use the U.S. dollar in a manner we deem not to our liking we will steal your money. We just use the more polite term "freezing your assets." Good luck getting it back.
It's my understanding that BRICS are not proposing a 'currency' like the dollar or euro.
Rather they are proposing a sort of Bancor international settlement 'currency' that was first imagined by Keynes after WWII.
So this is not a currency that would be used domestically like a national currency and would not be floated on a international money market.
And probably to be backed by gold.
It's a re-hashed idea that the central bank governor of China has a paper published on, in 2009.
Though very little has been made public about it. I'm just taking this from one of persons I tune into.
This would probably have a better degree of success. Appears the group isn't trying to supplant the dollar but rather protect themselves from the weaponization of the dollar.
This would probably have a better degree of success. Appears the group isn't trying to supplant the dollar but rather protect themselves from the weaponization of the dollar.
Yeah, that is my take on their discussions also.
BTW, the BRICS group have invited 6 of the 40 nations that applied for membership to join as of January 1, 2024: Argentina, Ethiopia, Iran, Saudi Arabia, Egypt, and the United Arab Emirates. That meets both China's goal of adding more, and India's goal of only adding slowly.
So now you have the two largest economies in South America (2021 GDP), and the 1st, 3rd, and 6th largest in Africa(2021 GDP) in a group with China and Russia.
Last edited by Teak; 08-24-2023 at 11:59 AM..
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