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What a load of crap.
"So?"
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
What another load of crap.
Not to mention that article doesn't prove the dollar is toast as the world's reserve currency.
Did I say dollar is toast? De-dollarisation doesn't mean dollar is toast. It will get we
dollar is toast as the world's reserve currency
Just because you make up a definition it doesn't mean you are correct.
My suggestion you stress on 'chief'.
Dedollarisation refers to countries reducing reliance on the U.S. dollar as a reserve currency, medium of exchange or as a unit of account.[1]
indc says
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
What another load of crap.
Do you know the meaning of "chief"?
Not to mention that article doesn't prove the dollar is toast as the world's reserve currency.
why does the world need to sell their merchandise for paper that is just printed out of thin air?
why does the world need a reserve currency? why does the world need to use a currency that only 1 country can print without limit? why does the world need to sell their merchandise for paper that is just printed out of thin air?
komputodo says
why does the world need to sell their merchandise for paper that is just printed out of thin air?
Why do you sell your labor for paper that is printed out of 'thin air'? Why do your creditors accept that paper? Why does the dude running a hit dog stand sell his merchandise for it?
Why even ask this question?
There has to be a medium of exchange if there is no bartering. So what currency is used ?
If an importer in Brazil wants to buy a container of Chinese made laptop computers, then how do they pay for them based on what they are worth to both the seller and buyer ? Is it in Chinese currency or Brazilian currency ?
In this instance, the chinese central bank would set the currency exchange rate for the Brazilian Real v. Chinese yuan. Now the Brazilian can pay for the laptops with his domestic currency. Therefore cutting the us dollar out of the deal.
I guess having everything priced in US dollars is just convenient as far as processing import and export transactions. It consolidates instead of having many currency exchanges (Real to Yuan).
yeah it's convenient until you upset the usa and they confiscate your US assets....financial and physical.
Its does not matter as a large majority of the purchases of US Treauries are from non BRICs and US investors.
It may have once been like that but lately the main buyers have been china, saudi arabia...BRICS MEMBERS, and the federal reserve bank as buyer of last resort. Which is kinda funny...the fed create money, then loan it with interest to the usa treasury to sell treasuries back to them.
First of all, this post is about reserve currency, not fiat money.
I guess having everything priced in US dollars is just convenient as far as processing import and export transactions. It consolidates instead of having many currency exchanges (Real to Yuan).
also consider that major holders of USD are countries that are forced to buy oil priced in USD. If they weren't forced by the usa to buy oil with dollars, they probably wouldn't be holding so many.
and a vast majority of those holding the US Treasuries are Japan and other ally countries like Cayman Islands
komputodo says
also consider that major holders of USD are countries that are forced to buy oil priced in USD. If they weren't forced by the usa to buy oil with dollars, they probably wouldn't be holding so many.
yes, but again the BRIC countries are not major holders of US Treasuries
and foreign ownership of US Treasuries is only about $7.4 trillion out of $25 trillion
and a vast majority of those holding the US Treasuries are Japan and other ally countries like Cayman Islands
.
Japan's official stash of $1.11 trillion represents 4.4% of the total market, also a record low, while China's $835 billion stash is around 3.4% of the total, the lowest in over 20 years. In contrast, the Federal Reserve holds $5 trillion, or 20% of the overall market.
Doesn't HAVE to be the dollar, technically.
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This is a 1hr video, but very good explanation of coming de-dollarization. Take sometime to listen to it.
I dont agree 100% with the points in the video but would like any financial experts thoughts about it.