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The conditions might signal de-dollarization, but... Why are the worlds billionaires still sending their kids to study and live here in the land of the dollar?

ElYorsh says

The conditions might signal de-dollarization, but... Why are the worlds billionaires still sending their kids to study and live here in the land of the dollar?

Good question, as per the discussion dollar is still king. Will be going forward, but other currencies will grow stronger gradually. When it reaches critical mass thats when dollar will be dethroned maybe in another 10 to 15 years. I think maybe even longer because US will correct its policies.

what other place in the word is "safer" to keep your money than the USA?

De-Dollarization: India Shuts Down Talk Of BRICS Currency

JOHANNESBURG (AP) — Vladimir Putin will be the odd one out when leaders from the BRICS economic bloc of Brazil, Russia, India, China and South Africa meet in Johannesburg this week.

While all the others are set to attend the meetings in person, Putin will dial in on a video call.

The reason? An International Criminal Court arrest warrant issued for the Russian president put summit host South Africa in a sticky situation and ultimately resulted in Putin staying at home.

Here's what is expected when the group of emerging economies holds three days of meetings starting Tuesday in South Africa's biggest city and financial hub.

PUTIN DIALS IN
All the leaders from the BRICS countries traditionally attend its summits, and Chinese Premier Xi Jinping is making a rare trip overseas to be at the bloc’s first in-person summit since before the COVID-19 pandemic.

But Putin's indictment by the International Criminal Court in March charging him with war crimes over the removal of children from Ukraine left South Africa with a significant diplomatic conundrum.

South Africa and Russia share strong ties and have an historically close relationship, but South Africa is also a signatory to the international court's treaty. That meant it would be obliged to arrest Putin on the ICC warrant if he set foot on South African soil.

South Africa lobbied for months ahead of the summit to persuade Putin to stay at home so it could avoid the problem, South African officials say. South African Deputy President Paul Mashatile said last month that Putin was determined to come before an agreement for him to participate virtually was finally announced.

“It’s almost like you invite your friend to your house, and then arrest them," Mashatile said at the time. "That’s why for us his not coming is the best solution. The Russians are not happy, though. They want him to come.”

The Kremlin didn't say if Putin had been intending to travel to South Africa, but stressed he would still play a key role in the main summit meeting Wednesday and address the delegates on a video link.

Shitstorm among shitholes:

Eric Holder says

Shitstorm among shitholes:

Do you count USA as part of the Shitholes?

B-I-r-C-S:

Eric Holder says

B-I-r-C-S:

its funny, but i don’t get it. what’s the context?

Eric Holder says

B-I-r-C-S:

its funny, but i don’t get it. what’s the context?

OUR GREAT AND FEARLESS CHRISTIAN LEADER has chickened out of traveling to the BrICS summit in fear of being arrested and handed over to ICC to be prosecuted on a specific war crime ( of which the cretin has confessed in a live TV interview) - kidnapping and deporting children from the occupied territories.

So now he attends international gatherings as a Dell monitor. WHICH IN NO WAY DIMINISHES HIS GRAVITAS!

This is such a bad photoshop job

Putin continued winning yesterday, in what was probably the day’s actual most important developing story. Not that you’d notice from reading Establishment Media. The Washington Post ran a related story this morning, with the muted, understated headline “BRICS group of nations announces expansion plan with six new members.” But it wasn’t just the announcement of an expansion plan. This is the first expansion in the coalition of non-Western nations since it was originally formed back in 2009.



Six mostly oil-rich countries — Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates — were invited to join next year’s summit as members, and their memberships are expected to start as soon as January.

Russian President Vladimir Putin, stressing the group’s goal of “countering Western global dominance,” congratulated the new members in a video address, saying they would all be “working in a full-scale format next year.”

Congratulations, Joe Biden, for uniting our enemies.

The Washington Post couldn’t be bothered to inform its readers, but with the addition of the top Middle-Eastern oil producing countries, BRICS now controls about 80% of the world’s oil reserves. Oil talks and Bidenomics walks. Goodbye petrodollar, we hardly knew ye. ...

Here’s the Wall Street Journal’s otherwise banal headline this morning, but which included a telling admission in its subheadline:



How about that? A victory for Russia and China. As I said yesterday, Biden’s disastrous Proxy War policies are rapidly sinking the West under Russian and Chinese world leadership. Or maybe that was the plan.

Global GDP - G7 and BRICS

https://www.youtube.com/watch?v=XGd-DvuEPfU

T

"Yeah, with the PPP bullshit. But who cares? Most of them have shitty demographics almost as bad as China's. India is one of the few exceptions"

Trollhole says

"Yeah, with the PPP bullshit. But who cares? Most of them have shitty demographics almost as bad as China's. India is one of the few exceptions"

The source of the data is not PPP. The source of the data is the IMF - World Economic Forum.

And the data show that the BRICS GDP exceeds the GDP of the G7.

Russian sanctioned oligarch Oleg Deripaska said that Russia should attract investors from African countries and other "friendly" countries in order to solve the problem of technological backwardness and increase the volume of GDP by three times.

He stated this in an interview with RBC.

The sanctioned oligarch believes that the only way to accelerate the technological development of the Russian economy is investment.

At the same time, he said that it is difficult for Russian businesses to invest money, because loans are too expensive due to the high rate of the Central Bank, and "the image of the future is blurred."

"Unfortunately, there is not enough capital in Russia today, which is why it is so expensive. Secondly, the risks are very high. We have greatly unbalanced the system in the last 12 years.

The only chance for us is to attract investors here - Chinese, Indian, Indonesian, from the same Africa," Deripaska claims. He claims that it is impossible to "pull them by the ears", but they will come as soon as the war in Ukraine ends.

Before the start of the war, according to the Central Bank of the Russian Federation, foreign business held almost 500 billion dollars in the form of direct investments in the Russian economy. But three-quarters of this amount - about 379 billion dollars - was provided by countries from the so-called "unfriendly" list, whose investments stopped after the introduction of sanctions and counter-sanctions.

Conventional "enemies" of the Russian Federation have invested an amount equal to 20% of all fixed assets in mining and manufacturing - industries that account for 50% of Russian GDP and 40% of employment. Their share is even higher in trade (equal to 80% of fixed assets), finance (almost 70%), as well as in scientific and technical industries (40%).

At the same time, China accounted for 3.3 billion dollars of direct investment in the Russian Federation - or 0.66% of the total amount, and for India - only 613 million dollars, or 0.012%.

The source of the data is not PPP. The source of the data is the IMF - World Economic Forum.

And the data show that the BRICS GDP exceeds the GDP of the G7.

Let me tell you something present PM of India Modi was denied VISA 20 yrs back. De-dollarization seeds were started then. Western media will write many articles saying India is against BRICS. Take it with pinch of salt. There may not be final currency. But all the Brics countries will weave their economies so that they will not need any reserve dollar. That will be a major jolt for Dollar then.

What a load of crap.

"So?"

Zeihan is laughing at the whole covfefe:

RWSGFY says

Zeihan is laughing at the whole covfefe:

what is a covfefe?

komputodo says

RWSGFY says

Zeihan is laughing at the whole covfefe:

what is a covfefe?

https://en.wikipedia.org/wiki/Covfefe?wprov=sfti1

The source of the data is not PPP. The source of the data is the IMF - World Economic Forum. And the data show that the BRICS GDP exceeds the GDP of the G7.

Trollhole says

"So?"

The G7 is increasingly becoming irrelevant and highlights the fact that this is no longer a unipolar world.

Trollhole says

What a load of crap.

https://www.rt.com/news/582934-blinken-post-cold-war-order/?ysclid=lmjhnviht7774842269

The Old World Order is over – Blinken

I don't think 'indc' actually read the article