Posted on 04/20/2023 3:26:03 PM PDT by CFW
The New Development Bank (NDB) established by the five-member BRICS group is offering loans in local currencies, part of its efforts to ditch the use of the U.S. dollar for world trade.
NDB President Dilma Rousseff confirmed the move, adding that the financial institution plans to give 30 percent of loans in the local currencies of member nations. The NDB was established in 2014 by the BRICS group – Brazil, Russia, India, China and South Africa – to challenge the U.S.-dominated World Bank. Rousseff, who served as Brazil’s president from 2011 until her impeachment in 2016, took over the NDB’s leadership in March 2023.
“It is necessary to find ways to avoid foreign exchange risk and other issues such as being dependent on a single currency, such as the U.S. dollar,” she said during an April 14 interview with the Chinese media outlet CGTN.
“The good news is that we are seeing many countries choosing to trade using their own currencies. China and Brazil, for instance, are agreeing to exchange with [the Chinese yuan] and the Brazilian real.”
(Excerpt) Read more at discern.tv ...
Socialists like Rousseff have been trying to take down the USA for a century.
The good news is that socialism has a 100% history of failure.
Democratic socialism is winning sadly.
“The problem with socialism is that you eventually run out of other people’s money”
Socialism can work in the short term, but in the long run it always collapses.
The good news is that socialism has a 100% history of failure.
———
The other good news ( tragic for the US) is severely corrupted, dishonest, immoral regimes collapse under it’s own lies, yes, that means Biden and his war cheerleaders.The only good thing coming by Biden’s war and boomeranged sanctions is senile Joe fails, totally, completely.
The wheels of US hegemony have started to turn, there is now no turning back the clock on de-dollarisation and the weakening of the US. The only thing we can hope for is Trump is re-elected and can manage our historic decline.
Notice there’s not ONE question about this asked of Biden, let alone the White House…
“”There are always those that refuse to learn the lessons of history, but, they like to pretend that socialism will work, someday, somehow, somewhere.””
Maybe they aren’t in it for the long run of the nation, maybe they just want the keys to the vault to buy the power and to spend while entrenching that power.
Maybe it isn’t what they build that matters, but what they tear down.
It’s socialist regime running this country and their idiotic sanction war it started with Russia that is endangering the dollar.
Whatever they do, they do.
But if South African’s are banking on the rand to pay the bills, it’s going to be hysterical when everything collapses. That entire continent is one big powder keg. Disease, revolutions, coups, kids dying in mines for EVs...place has a lot going for it.
All the while, the Chinese sit back and laugh, while its own house crumbles.
“in the long run it always collapses.”
Like our $33 TRILLION debt. Soon to be $50 trillion. We are on the fast train to total collapse and countries fleeing the US Dollar as the world’s reserve currency means the world will be awash in unwanted dollars and the dollar in free fall.
“US Dollar as the world’s reserve currency means the world will be awash in unwanted dollars and the dollar in free fall”
So why then is the USD up this year against the Euro, Yen, Pound, and pretty much every other major currency?
Just wait. It’s coming...
We have our problems, but America is still the least socialistic country in the world.
To remain on top we don’t have to be perfect, we just have to be the best.
“Just wait. It’s coming...”
When?
Here are the prices of 10 year gov’t bonds for a few countries:
* Brazil - 12%
* South Africa - 12%
* Russia - 11%
* India - 7.2%
* USA - 3.5%
How big a short position do you have in US Bonds? You would make a fortune if you are right.
They’ve been talking about this for a decade. The dollar is higher
“They’ve been talking about this for a decade. The dollar is higher”
Someday the US will lose it’s position on top, but it will take more than a senile president to do so.
Changes like that only happen with WWII scale events.
“We are on the fast train to total collapse and countries fleeing the US Dollar as the world’s reserve currency means the world will be awash in unwanted dollars and the dollar in free fall.”
Then you should head to the bank the first thing in the morning and trade in all you dollars for BRICS currencies.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.