Posted on 10/08/2024 8:00:34 AM PDT by RomanSoldier19
The BRICS alliance is reportedly considering a new “petroyuan” in its latest move to compete with the world dollar hegemony.
BRICS, which was originally launched as a coalition of Brazil, Russia, India, China and South Africa, has since welcomed several other countries into its union and is looking at taking its next steps at a summit in Kazan, Russia, next month.
(Excerpt) Read more at dailyhodl.com ...
Dims will go for it. They like to increase the value of oil unless it’s an election year.
WAR IS COMING, don’t think for a second that the moneychangers in the Den of Vipers is going to take this sitting down while the Feds Credit Money is going to lose “reserve status” for the world.
Wasn’t America the largest producer of oil while Trump was president?
If he’s elected this falls right into US Hands;-)
US Dollar (USD) has rallied almost 3% over the last week.
That is a solid move for a major currency.
Currently trading at 102.4
Numbers above 100 equal USD strength.
Numbers below 100 equal weakness.
Their BRICS alliance will only succeed with US Dollars ,LOL
Also the countries that join BRICS should stop getting US Aid money
ALL countries should stop getting U.S. aid money. No exceptions.
—”don’t think for a second that the moneychangers in the Den of Vipers is going to take this sitting down “
Not to worry about your friends in the money pit!
BRICS is a proposed currency, it does not exist.
They have been working on it for twenty years, still nothing.
How are they going to harmonize the different currencies?
Toilet paper has more value than the ruble, the Rand has been stable for about ten years, the yuan is artificially stable and subject to sudden change...
Tell us the value of just yuan, rand, and ruble combined.
If you have a solution, pls show your work and share it with the BRICS NBD, they are still looking for ideas after twenty years.
Just recently China let it be known that it does not want the yuan to be tied to Brics.
Harmonizing with Brics and they would lose control of the value of the yuan. Russia too, has been making similar sounds.
It becomes difficult to print money if you do not run the printing press.
I’ve been wondering for a while now why we don’t just denote currency in energy or work units: Joules, ft-lb force, horsepower-hour, BTUs, etc.
Minerals and other natural resources could then be valued based on the amount of work/energy to dig them up, drill, etc; crops based on work/energy to grow and harvest; labor content would be manpower-hour equivalents....
How much hydrocarbon fuel does china even produce? Pretty stupid calling it a yuan.
any monetary system including communist currency is doomed to failure.
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