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Posted on 8/24/23 at 11:00 am to SlowFlowPro
quote:
Wishcasting.
If the EU couldn't upstage the USD, I have no idea why you think BRICS can
quote:
Of course it is. It certainly isn't because he's been a good president by any means.
That's not really why, either.
BRICS is becoming a much larger beast. Also, with our national debt escalating further and further out of control the rest of the world is looking for a alternative to the USD. Being down graded for foreign-currency issuer default rating did not help the cause.
Posted on 8/24/23 at 11:01 am to Warboo
quote:
. Also, with our national debt escalating further and further out of control the rest of the world is looking for a alternative to the USD.
No they're not
If they were, they'd go with the Euro, which, IIRC, has taken a beating compared to USD since Covid.
they are CERTAINLY not going to pick the alternative currency created by countries who all are 2 steps away from war with each other.
This post was edited on 8/24/23 at 11:02 am
Posted on 8/24/23 at 11:02 am to SlowFlowPro
quote:
Yeah I do agree. India is always interesting in foreign policy. This will prevent their ability to project anything and protect interests abroad, though.
Hypothetically... if China and India became allies do you think BRICS may be possibly more of threat to the dollar?
Posted on 8/24/23 at 11:04 am to SlowFlowPro
quote:
No they're not
If they were, they'd go with the Euro, which, IIRC, has taken a beating compared to USD since Covid.
they are CERTAINLY not going to pick the alternative currency created by countries who all are 2 steps away from war with each other.
These countries want the US economy to tank. Hell our own govt is trying to destroy it. If you dont think this is a serious play to replace the USD then I cant help you.
Posted on 8/24/23 at 11:05 am to ThuperThumpin
quote:
Hypothetically... if China and India became allies do you think BRICS may be possibly more of threat to the dollar?
Huge if.
India and China are going different directions economically over the next 2 decades, so it's hard to say.
China and Russia will have friction.
South Africa is a nothingburger.
Brazil has no geographic or cultural ties, so I doubt they stay around long term.
Any potential threat of BRICS involves oil. Non-Russian oil.
Posted on 8/24/23 at 11:05 am to Warboo
quote:
These countries want the US economy to tank.
Why? It would tank their economies, too.
quote:
If you dont think this is a serious play to replace the USD then I cant help you.
It's virtue signaling echo'd to create emotional responses with a certain population of the US.
Posted on 8/24/23 at 11:06 am to SlowFlowPro
quote:
BRICS is much more virtue signaling, at this point, than anything meaningful.
Currently. The problem will be if they can force their proposed new currency to replace the petro-dollar. If they all start demanding their oil trade only on that currency, it could be problematic for the USD.
Posted on 8/24/23 at 11:07 am to Bard
quote:
Currently. The problem will be if they can force their proposed new currency to replace the petro-dollar. If they all start demanding their oil trade only on that currency, it could be problematic for the USD.
Exactly
Posted on 8/24/23 at 11:08 am to Bard
quote:
The problem will be if they can force their proposed new currency to replace the petro-dollar. If they all start demanding their oil trade only on that currency, it could be problematic for the USD.
Possibly, but this adoption would require much more pressure internationally than what the BRICS alone could muster.
Posted on 8/24/23 at 11:12 am to SlowFlowPro
quote:
Huge if. India and China are going different directions economically over the next 2 decades, so it's hard to say. China and Russia will have friction. South Africa is a nothingburger. Brazil has no geographic or cultural ties, so I doubt they stay around long term. Any potential threat of BRICS involves oil. Non-Russian oil.
You’re missing the control of global resources by the BRICS….that will be a integral component of their leverage.
Posted on 8/24/23 at 11:14 am to Bass Tiger
quote:
You’re missing the control of global resources by the BRICS….that will be a integral component of their leverage.
That would be more trade than currency. Most everyone is focusing on the currency dream.
But they also would have to stick together, which is the larger point. It's not going to be easy to simply exist.
Posted on 8/24/23 at 11:21 am to Parish Pig
quote:
Anything but the current system.
Apocalypse fetish
Posted on 8/24/23 at 11:22 am to Bass Tiger
quote:
the vast majority of rare earth minerals used for “Green Energy”
this was the real kicker to me in leaving Afghanistan. We stayed for 20 years and lost countless service members. The least we couldve done is worked out a deal for their rare earth metals. Instead, China just rolled on it, unscathed, and exploited them
Posted on 8/24/23 at 11:22 am to Bass Tiger
i was told BRICS was a joke that would have no effect on global economy
Posted on 8/24/23 at 11:23 am to SlowFlowPro
quote:
So who is? The UK? Germany? France?
I believe your people would say Venezuela.
Posted on 8/24/23 at 11:29 am to dgnx6
quote:
I believe your people would say Venezuela.
You mean Chile, until about 30 years ago?
Posted on 8/24/23 at 11:35 am to Bass Tiger
The US Dollar is still their daddy.
Whether they like it or not America runs the show for the time being.
Whether they like it or not America runs the show for the time being.
Posted on 8/24/23 at 11:38 am to SlowFlowPro
quote:
Possibly, but this adoption would require much more pressure internationally than what the BRICS alone could muster.
Again, "currently". The problem is that there is a definite avenue of opportunity for them there. They'll never pull Canada over and likely won't get Mexico either, but if they are able to sway Iraq and Kuwait, they've suddenly got a lock on over 50% of all oil produced in the world while also having a lock on around 40% of oil imports (primarily China and India).
At that point, all they would have to do is mandate that their oil is traded in their currency (since there's no way the non-BRICS countries could increase production quickly enough to offset that) and that would be enough to hammer the USD's value.
Posted on 8/24/23 at 11:39 am to jamiegla1
quote:
quote:the vast majority of rare earth minerals used for “Green Energy”
this was the real kicker to me in leaving Afghanistan. We stayed for 20 years and lost countless service members. The least we couldve done is worked out a deal for their rare earth metals. Instead, China just rolled on it, unscathed, and exploited them
And there was never a serious investigation into the Afghanistan Withdrawal Debacle....just swept away and forgotten. We should have at a minimum left 2-3k troops at Bagram AFB just to keep an eye on the CCP and other potential enemies.
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