patrick.net

Why would India buy Venezuelan oil when Saudi oil is literally right next door?

Dollar Milkshake Theory gets a boost:



https://wolfstreet.com/2024/04/16/yen-drops-to-155-against-usd-currency-collapse-at-work-50-against-usd-since-2012-32-since-2021/

But...but the dollar is going to shit!

India has steadily increased its reliance on Russian oil.

According to Reuters: Through term deals and spot market purchases, the South Asian nation imported about 1.66 million barrels per day of Russian oil in 2023 compared to an average 652,000 bpd in 2022.

Then also this: https://asia.nikkei.com/ › Economy › Trade › Indian-im...
Feb 20, 2024 — Russia was India's largest oil supplier in 2023, accounting for around 30% of imports. The monthly tally peaked at 1.99 million barrels in July.
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1 USD buys 83 Hindus.
Some year ago you could only buy 40 Hindus for $1.

Hindu has become cheaper and begging worldwide. Dollar is king and Hindu is slave.

Even few shekels can buy lot of Hindus to work in war zone. Hindu is desperate. Hindu money is worthless, no challenge to USD.
https://www.npr.org/2024/02/17/1229525320/india-israel-hamas-war-jobs-migrant-workers

@UkraineIsTotallyFucked

Why do you think Trump is talking about De-dollarisation now?

indc says

UkraineIsTotallyFucked

Why do you think Trump is talking about De-dollarisation now?

Who cares?

Hindus live/earn in US but still wants to destroy it.

India supporting treasonous Hindus must be deported.

indc says

UkraineIsTotallyFucked

Why do you think Trump is talking about De-dollarisation now?

Trump is concerned the standard of living will significantly degrade because of a lot weaker dollar. Biden has not even during the 2020 campaign.

That is why Trump realizes we have to be as energy independent as possible, as especially food prices will be hard hit with an increase in the price of diesel.

Perhaps also this means that the price of the cheapest laptop at Walmart goes up 50% because of de-dollarization.

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AD says

That is why Trump realizes we have to be as energy independent as possible, as especially food prices will be hard hit with an increase in the price of diesel.

We are. We are a net oil and gas exporter (on and off). Food? We have been a huge exporter of that for over a century.

AD says

Perhaps also this means that the price of the cheapest laptop at Walmart goes up 50% because of de-dollarization.

And all of that will be sold for dollars. So much for 'de-dollarization'.

They will then be made in North America and a few other places.

Basic take here: UST loses reserve asset status bit US dollar does not lose reserve currency status.



https://youtu.be/DD1CnjI2Z3k?si=IWyzw7QlIYKjIXVO

UkraineIsTotallyFucked says

And all of that will be sold for dollars. So much for 'de-dollarization'.

They will then be made in North America and a few other places.

Yes, sold in dollars at Walmart and other retail outlets in the USA, but at a higher price because of de dolarization (and weakened USA dollar).

True, as far as being made other than by the Chicoms such as made in Mexico, Vietnam, Philippines, Guatemala, Peru, etc.

Cheapest Chrome book at Walmart around $188 now. I think same sold for around $150 a couple of years ago.

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AD says

but at a higher price because of de dolarization (and weakened USA dollar).

There is no 'de-dollarization'.

The Walmart example you cite is not an example of de-dollarization. Dollars were used to buy the fucking laptop, not gold or bitcoin or magical BRICS bucks.

A lot of references to 'yuan' in this article could apply to 'yen' 27 years ago. Especially about export mercantilism.

https://mishtalk.com/economics/what-would-it-take-for-a-bric-based-currency-to-succeed/

China is largely dependent on energy and food from the rest of the world. It has dirt and mines, as well as rice paddies, but not enough food to feed its people or energy to fuel its industry (this is why they're gung-ho for nuclear, besides the obvious arms benefit of the PUREX process for refining plutonium).

Europe and the US have to pay farmers to curtail production so as to maintain prices - their farmers are that productive because the climate and resources are at present abundant. Hell, Europe is trying to run its farmers off their lands because the cows fart too much.

stereotomy says

Europe and the US have to pay farmers to curtail production so as to maintain prices - their farmers are that productive because the climate and resources are at present abundant. Hell, Europe is trying to run its farmers off their lands because the cows fart too much.

European farmers are dependent on farm supports and protectionism precisely because they are not productive as they need to be. Same for Japanese farmers.

What? How come no rubles, rupees or rials are involved? Duuhhh..BRICS De-dollarization!

Wow! $400 billion!

But...BRICS! De-dollarization!

Ppl, let me help you to isolate when the possibility or perhaps better stated ... the fear of de-dollarization was apparent in the global markets. It was during the reign of error ... George W Bush, the worst president in modern US history.

That's when Gold broke out of its multi-decade bearish channel and into a bull market. Here's that chart ...



Since GWB, gold bugs have been screaming & shouting but yet, instead of expecting every pullback to $1100/oz or $1500/oz (or even $1800/oz), to melt up to $5000/oz or $10000/oz, they could have just swing traded it and made money.

https://x.com/saifedean/status/1801154864514208008

https://patrick.net/post/1381521/2024-06-22-global-central-banks-plan-to-increase

First the USD was going to hyperinflate and lose the GRC.

Then was going to be replaced by the Euro.

Then SWIFT was going to be usurped by INSTEX.

Then the PetroYuan was going to kill the PetroDollar.

Then Shanghai Gold Exchange was touted as the killer app.

When that didn’t work the e-yuan was sure to do it.

After that came Libra.

During Covid the Fed did everything the dollar fatalists ever predicted and they assured me the DXY would never again go above 100.

Then the DXY went to a 30 year high.
Bitcoin and crypto have created fabulous wealth but have also solidified the USD as GRC via stable coins.

And amongst all of this stuff that has never worked over the years the BRICs continuously hinted “this year” would be their big launch. And yet Lucy pulls the football away every year.

Now that none of this stuff has worked the goalposts have been moved again and two new stories have emerged.

1) The USD wont lose Global Reserve Currency status but USTs will lose Global Reserve Asset status…never mind the fact that USTs losing GRA status would contribute to the USD returning to all time highs.
&
2) The USD is not the most important form of money but energy is. Never mind that money was invented so man could harness energy without having to use it directly.

I continue to love these de-dollarization stories for the same reason I love science fiction.
It’s creative, it’s interesting, it’s forward looking….and in 20 or 30 years some of it will be true..

https://x.com/SantiagoAuFund/status/1761384508077592784

BRICS replacing the USD is like 20 years old right now. It's all Syrio-Iranian-Russo MSM bullshit