patrick.net

UAE no longer using Federal Reserve debt notes for oil trades, and recently joined BRICS. BRICS isn't the next big thing by any means, just another sign the US fiat currency has had it. Hope you know what real diversification looks like...

NuttBoxer says

Hope you know what real diversification looks like...

Does it look like $38B worth of Soviet money in Rupees currently stuck in India w/o any way to be exchanged, because the only way Indian CB allows it to be spent is on some Indian goods (Soviets don't want any, because they need weapons, electronics and industrial machinery for their warmongering effort) or as investment in some Indian companies which would pay dividends in ... drumroll! ... Rupees again?

Probably not. Whatever "real diversification" looks like, accumulating some nonconvertible shitcurrency ain't it.

Why would American's be holding Rupees? Are you so obsessed with your mother country, you didn't understand my warning is for US residents? Fuck, just move to Russia and get it over with.

NuttBoxer says

Why would American's be holding Rupees?

Why would Americans be shitting on the dollar and promoting weird shit like BRICS at every turn, like it's the best thing since sliced bread?

NuttBoxer says

Are you so obsessed with your mother country, you didn't understand my warning is for US residents? Fuck, just move to Russia and get it over with.

My mother country? Is this another confession through projection?

Hey man, you're one who can't stop talking about Russia. Turning every conversation into a Russian topic, worrying about how the Russians will spend their Rupees and stave off collapse.

Now if you can stop fapping to your Russian porn for five seconds, maybe you'd see our government has fucked us, and our currency is about to do the same on a whole new level. Maybe you'd think about some ways to protect whatever fiat wealth you've accumulated so your life doesn't collapse like the USSR did.

But maybe you're just too distracted hating a country that doesn't give a shit about you to realize the one you live in is about to flush your ass.

But maybe you can tell me. Why would an American be want to promote a banking system designed to enslave us? Sounds like something a Russian saboteur would do, or at least a traitor. See, you clearly don't support honesty and a strong America because you never want to face, or call out anything that's destroying our country. You have more in common with the Kremlin than you'd like to imagine.

NuttBoxer says

Hope you know what real diversification looks like...

NuttBoxer says

UAE no longer using Federal Reserve debt notes for oil trades, and recently joined BRICS.

Sure they are. Sure they are.

Patnet needs a system for removing zero effort comments that add nothing. Or a bot to lavish attention on people who obviously are attention deprived...

NuttBoxer says

Patnet needs a system for removing zero effort comments that add nothing. Or a bot to lavish attention on people who obviously are attention deprived...

Sure it does. Sure it does.

And hey! Let's have a committee of Deep State fucks who decide what is a 'zero comment that adds nothing'.

NuttBoxer says

Patnet needs a system for removing zero effort comments that add nothing.

Like just literally ignoring them or implementing the ignore feature?


But that’s not enough for some. Some are totalitarian bullies by nature trying to make the world a safe space for their own feelings. Hint, that never works, the easily offended never overcome their own feelings. No matter how hard they try to control others, they cannot control themselves and how they manage their own emotions. That is their real problem.

We can just stick with the puppets. Anyone who dismisses the crisis the US and their fiat currency is in are obviously rooting for our countries downfall, whether they understand that or not. Hope those strings aren't too tight...

The WHOLE world is in crisis, not just the USA. But scripture tells us two things that everyone living in the end times should know. 1: it is going to get worse and worse until the end comes. 2: Then Jesus will return to make things right again.

With what is going on in the world it is clear His return is imminent. Anyone who dismisses this will either be ashamed or worse yet terrified at His coming. Don’t dismiss the writing on the wall. Trust Jesus to save you from your sins and He will forgive you, wash you clean in His eyes and rescue you from the wrath to come.

NuttBoxer says

We can just stick with the puppets. Anyone who dismisses the crisis the US and their fiat currency is in are obviously rooting for our countries downfall, whether they understand that or not. Hope those strings aren't too tight...

Confused. Does that have to do with taxation too?

https://twitter.com/CryptoNewsYes/status/1638312091399471104

One indicator that there is not runaway debt accumulation is debt to GDP ratio. At least it has steadied around 120%.

It was about 105% from 2016 to the start of the pandemic in early 2020.

If the ratio drops to 110% within the next 2 years then the risks of a debt crisis are further reduced, hence this defeats the argument that the US federal government is destroying or abandoning the dollar.

https://fred.stlouisfed.org/series/GFDEGDQ188S

.

The question is how liquid and valuable is the US dollar ? If you have a dollar, then how easy is it to buy services and goods ?

Russia is being paid in Indian currency for oil it exports to India. How easy is for Russia to use that India currency to buy goods and services that it needs ?

buy rice, coffee, mangoes and software services from India ?

.

"Saudi Arabia officially joins BRICS - Saudi state TV announced that the kingdom had officially joined BRICS... Prince Faisal said the BRICS group was "a beneficial and important channel" to strengthen economic cooperation. The BRICs bloc previously included Brazil, Russia, India, China, and South Africa, but is set to double with Saudi Arabia joining the United Arab Emirates, Egypt, Iran, and Ethiopia as new members." https://www.reuters.com/world/middle-east/saudi-state-tv-says-kingdom-officially-begins-membership-brics-bloc-2024-01-02/

ad says

Russia is being paid in Indian currency for oil it exports to India. How easy is for Russia to use that India currency to buy goods and services that it needs ?

Not good. Russia tried to buy stuff from India with rupees they got from selling oil to them. The Indians but the brakes on that real quick.

Let that settle in: India doesn't even want their own money for exports they sell.

Indians won't take yuan the Russians have, either.

So the Russians fly cargo planes filled with gold to pay for things.

BRICS = PR bullshit

UkraineIsFucked says

Confused. Does that have to do with taxation too?

General ambivalence to the shit state our economy is in.

NuttBoxer says

UkraineIsFucked says

Confused. Does that have to do with taxation too?

General ambivalence to the shit state our economy is in.

In other words, nothing.

UkraineIsFucked says

Not good. Russia tried to buy stuff from India with rupees they got from selling oil to them. The Indians but the brakes on that real quick.

Let that settle in: India doesn't even want their own money for exports they sell.

Indians won't take yuan the Russians have, either.

Then they got to demand payment in sugar, grain, etc that can be stored in warehouses in Russia.

They have to make it a barter trade if they can't use the India currency. For example, this would be two pounds of sugar for 1 gallon of oil.

.

NuttBoxer says

General ambivalence to the shit state our economy is in.

That ambivalence won't last for long.

"Just don't raise the wages and make the working poor absorb 30% increases in groceries"

ad says

Then they got to demand payment in sugar, grain, etc that can be stored in warehouses in Russia.

They have to make it a barter trade if they can't use the India currency. For example, this would be two pounds of sugar for 1 gallon of oil.

'demand'?

UkraineIsFucked says

ad says

Then they got to demand payment in sugar, grain, etc that can be stored in warehouses in Russia.

They have to make it a barter trade if they can't use the India currency. For example, this would be two pounds of sugar for 1 gallon of oil.

'demand'?

Okay, negotiate instead of demand.

Another possibility is to give the Indian rupees to Russian tourists who can then exchange rupees for Turkish currency when visiting Istanbul.

So pay Russians in rupees who then can use it abroad such as in Turkey, Thailand, etc.

.

I wish people would drop the "S" part of BRICS.

South Africa is a shithole, the only surprising thing is that it's still in freefall and hasn't turned into cannibal anarchy yet.

AmericanKulak says

I wish people would drop the "S" part of BRICS.

South Africa is a shithole, the only surprising thing is that it's still in freefall and hasn't turned into cannibal anarchy yet.

Yeah, its still benefiting from what existed during its Apartheid past, but that can only last for so long. I've seen economic data and it seems since the late 1990s that South Africa has slowly been in a decline.
.



.

UkraineIsFucked says

NuttBoxer says

UkraineIsFucked says

Confused. Does that have to do with taxation too?

General ambivalence to the shit state our economy is in.

In other words, nothing.

It's a piece. Just one of the tools in the banker's arsenal.

Ppl, if you're absolutely worried that the USD is going to hell within let's say the next ~5 yrs, here's a way to assuage one's fears ...

Take whatever 'cash equivalents' you have ... let's say that that's 20% of your account, and split it into 40% commodity ETFs (but not gold [ I only buy gold if it's in a crash situation ]) and then 40%, among Aussie (FXA), Canadian (FXC), and Swiss Franc (FXF), and keep the rest in highest rate US based CDs.

That should help if the BRICS goes nuts on the Forex, for some inexplicable reason like suddenly ... [ sarcasm mode ] MSNBC says that 'the Chinese Silk Road Gold Bourse is legitimate and won't rip off foreign investors' [ sarcasm off ] ... in other words, a pump/dump on the dumb money.

You are a bit behind the curve here, that advise was good maybe 10 years ago..

https://wolfstreet.com/2024/01/02/the-incredibly-ballooning-us-government-debt-spikes-by-1-trillion-in-15-weeks-to-34-trillion/

NuttBoxer says

It's a piece. Just one of the tools in the banker's arsenal.

No it isn't. Banks don't levy taxes.

The Dollar Milkshake Theory (aka The BRICs Is Bullshit Theory)

https://youtu.be/xxzy3sLs4Bs?si=RBkV980peMlDsQUB

UkraineIsTotallyFucked says

BRICS isn't going anywhere anyhow. It's been around for 20 years, and they've done nothing. I think it's been setup as a fallback, not as a challenger.

richwicks says

BRICS isn't going anywhere anyhow. It's been around for 20 years, and they've done nothing. I think it's been setup as a fallback, not as a challenger.

It's a PR vehicle for domestic political consumption. Ppl outside America hate the dollar. But nations can't dump it w/o hurting themselves. System is designed that way.

And when the US prints more dollars, there is debt interest attached that isn't printed until the next round of monetary expansion.

Thus every dollar created has built-in demand.

ALL dollar debtors (especially Eurodollar debtors) have to scramble to pay that interest. So they print their own currencies up to buy the necessary dollars. That makes their currency depreciate against the dollar, which means they have to sell more of their currency in order to be able to at least buy the same amount of dollars as they did before, etc.

The central bank gold hoarding going is the Plan B for when THEIR currencies are worth such shit that they can't PAY EACH OTHER in Eurodollar system. When the dollar actually blows up is going to be later.

Yes, eventually the US dollar will become toast too. But only after the Euro, Yen, etc. are totally fucked first. Between now and then, the dollar's value against those other currencies will soar.

The BRICS Fluffers' lube is running dry. Poor @indc

@UkraineIsTotallyFucked

https://twitter.com/PamphletsY/status/1767226842258510315

China's housing minister says real estate developers must go bankrupt if necessary.

Do you think this can happen in USA?

indc says

UkraineIsTotallyFucked

https://twitter.com/PamphletsY/status/1767226842258510315

China's housing minister says real estate developers must go bankrupt if necessary.

Do you think this can happen in USA?

Why does it matter? Many went under in 2009 and many will go under in the future. Businesses in the US go bankrupt all the time.

What does that have to do with the subject at hand? The Magical Bullshit that is BRICS having a currency that will supplant the dollar?

UkraineIsTotallyFucked says

The Dollar Milkshake Theory (aka The BRICs Is Bullshit Theory)

https://youtu.be/xxzy3sLs4Bs?si=RBkV980peMlDsQUB

Interesting, but dated. Inflation DID occur, and Saudi Arabia does not restrict the oil trade to dollars.

HeadSet says

Saudi Arabia does not restrict the oil trade to dollars.

Did it claim that they didn't?

UkraineIsTotallyFucked says

Did it claim that they didn't?

Yes.