Posted on 08/26/2024 9:41:31 AM PDT by hardspunned
BRICS member China is taking full advantage of the US sanctions on Russia by pushing the Chinese yuan for trade settlements. The US Treasury Secretary Janet Yellen openly admitted that the sanctions are only helping local currencies and hurting the dollar. She revealed that it was the sanctions that led the BRICS alliance to consider de-dollarization and use local currencies for cross-border transactions.
(Excerpt) Read more at watcher.guru ...
Many countries have figured out that the US has become a fanatical bully—and cannot be reasoned with at this point.
Looks like China is about to get a little “democracy”.
God no. Now when we print money, the number of people we are stealing from is just our allies in the western world who still tie their currencies to the $$. How are we going to pay for the operations to effect regime change in 3rd world shitholes like Russia when we are in danger of becomine one ourselves.
Even an idiot like Yellen sees it.
stolen elections have consequences. the chinese money comes with ties that are artificially kept afloat by slave labor... oh wait, so does the US dollar. end this and the world will come back to the dollar.
I'd wager the clothes on my back that 20 years from now...maybe even sooner...China will be well on its way to dominate the world....militarily and economically.
It was going to happen. If not BRICS someone else
Trust in the US has fallen a lot since 2014.
Key question is will Trust in the rest of BRICS be high enough to keep this together.
When Empires die, they lose reserve currency status.
it’s not like anyone believes those in fedgov are trying to help America get stronger.
that’s not news.
2024: Patriots vs Traitors
All part of the chicom 100 plan (ahead of schedule thanks to Jao Xiden)
or better known as ‘that giant sucking sound’ ala Ross Perot. GHWB touted a ‘service economy’ that would be just as good as a manufacturing one. You only steal from each other without a process that creates value.
Yes. The Saudi abandoning the petrodollar was the red flag. Many here have been laughing off BRICS as if it’s a passing thing. Clinging to the outdated notion that the Dollar is King. . Not hearing much from them lately.
I doubt it was 10 cents per pen. More like 2 cents per pen.
The democrats way to remove sanctions ,LOL
A rather misleading headline.
It’s only Russia that’s paying more in yuans than dollars. The rest of the world overwhelmingly uses dollars.
Why convert your yuan to dollars when you are not dealing in the US? But as soon as you get yuan, it gets turned into dollars or gold.
We debase money on a predictable and transparent schedule. The Chinese wake up some morning and decide to revalue the Yuan based on whether or not they slept well the night before.
The dollar is still the cleanest dirty shirt in the closet.
Secretary Yellen certainly did her part to accelerate the de dollarization process.
The final straw I think was when she announced in Brazil (The ‘B’ in BRICS) that the interest on $300 billion confiscated Russian assets would be stolen and given to Ukraine.
The world said “if they can do that to a country like Russia, what chance will we have if we ever fall out of favor with Washington?”.
Secretary Yellen is just as culpable as anyone else inside the Beltway. Maybe more so given her position at the Treasury and former Chair of the Federal Reserve.
The hubris of Biden-Harris-Yellen is absolutely unprecedented. Now the chickens are coming home to roost.
Hope the Trump administration can repair the damage or at least stop the bleeding.
“The Saudi abandoning the petrodollar was the red flag.”
Another self-inflicted wound by Biden-Harris.
They told the Saudis we are ‘going green’ and therefore will not be a customer much longer.
China, on the other hand, told Saudi Arabia they will take in whatever oil you can pump for decades to come.
If you were Riyadh, whos cart would you attach your horse to?
Yep. Sure do.
How's that pound sterling working out for you, Great Britain?
Ain't he the same guy who told us there were WMDs in Iraq?
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