Posted on 02/08/2023 2:00:41 PM PST by kiryandil
China's central bank said on Tuesday that it has signed a memorandum of understanding (MOU) on setting up yuan clearing arrangements in Brazil with the Central Bank of Brazil.
The establishment of yuan clearing arrangements in Brazil will help Chinese and Brazilian firms and financial institutions with cross-border transactions using the yuan, further facilitating bilateral trade and investment, the People's Bank of China (PBC), the country's central bank, said in a concise statement on its website.
The latest yuan clearing plan followed a slew of similar arrangements as the Chinese currency takes on a bigger role in the global foreign exchange market.
The PBC announced in November the signing of a yuan clearing arrangement MOU in Pakistan, after deals were revealed in September for such arrangements in Laos and Kazakhstan.
(Excerpt) Read more at globaltimes.cn ...
DRIP, DRIP, DRIP. The gradual weakening of the Dollar’s position as THE world’s reserve currency continues. This is yet another project of the globalists working in tandem with their Ukraine project.
China setting up camp in Brazil is a concern. They will own South America before too long.
“Chinese, Brazilian central banks sign MOU on setting up yuan clearing arrangements”
We can thank the sheer IDIOCY (or evil) of Neocons for this.
And I’m old enough to remember when virtually ALL international currency transactions were done in US dollars...which means that I’m over one year old.
Countries are going to find the hard way what free trade is not.
The B in BRICS is Brazil, the C is China. Of course they want to work together to go around Swift for transactions. If this surprises anyone, they need to get out from under a rock.
Especially since the new president of Brazil is a fellow communist.
It’s not like the Axis used dollars to trade during WWII, and the new Axis won’t in WWIII. The economic war has already started, a few years ago.
I know which side you’re cheering for, since the R stands for Russia.
The douche in the White Hut - although completely compromised and dementia addled - is merely a placeholder for his leaders, just like Putin and Xi. It amazes me that anyone actually believes these people aren’t taking orders from others.
They are.
Where can I invest?
I suspect that this deterioration in judgment extends to geopolitics...
Just make sure your cash is outside the reach of the pirates of the West...
It's only going to get worse. There isn't a single neoclown posting here that has a reverse gear. Not.A.Single.One.
LOL! Oh man. I remember when I was a kid that book was always on my parents coffee table. You couldn’t get away from “Kon-Tiki’’ back then.
Enjoy your Fake Yuan Brazil
Buck up because the Petro Dollar is about to go away. Entirely because of communist “Democrats.”
Another example of China’s “antiglobalism”
Yep... all BS.
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