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India allows cross-border trade settlement in rupee to reduce the demand for the US dollars and promote the domestic currency
Polymer Exchange ^ | July 12, 2022 | Staff

Posted on 07/12/2022 7:18:33 AM PDT by Boomer

An RBI circular issued on Monday, said, “All exports and imports under this arrangement may be denominated and invoiced in rupee, the exchange rate between the currencies of the two trading partner countries may be market-determined, and the settlement of trade transactions under this arrangement shall take place in the rupee in accordance with the procedure laid down by the concerned authorities.”

(Excerpt) Read more at polymerupdate.com ...


TOPICS: Business/Economy; Foreign Affairs; Government; News/Current Events
KEYWORDS:
This financial stuff is above my paygrade. Maybe someone here can tell us how this move from the dollar to the rupee for trade in India will affect the USD.
1 posted on 07/12/2022 7:18:33 AM PDT by Boomer
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To: Boomer

Less demand for USD, and less ability for Biden to finance deficit by selling T-bonds abroad. In short, the more money Biden decides to print, the closer the Weimar scenario.


2 posted on 07/12/2022 7:21:10 AM PDT by NorseViking
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To: NorseViking

Weimar scenario?


3 posted on 07/12/2022 7:26:47 AM PDT by Boomer ( George Orwell: “During times of universal deceit, telling the truth becomes a revolutionary act.”)
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To: Boomer

Weimar Republic Germany pre Hitler post Treaty of Versailles levels of inflation.


4 posted on 07/12/2022 7:35:53 AM PDT by SACK UP
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To: SACK UP

Is that similar to what happened in Venezuela where they were the richest Hispanic nation one day then thanks to communism and the inflation it caused they were broke the next day with the citizens starving in the streets?

Just looking for clarification on what this means. Higher inflation? Nation killing inflation?


5 posted on 07/12/2022 7:41:48 AM PDT by Boomer ( George Orwell: “During times of universal deceit, telling the truth becomes a revolutionary act.”)
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To: Boomer

RBI sets up system to settle trade in rupees

https://www.thehindu.com/business/Economy/rbi-sets-up-system-to-settle-trade-in-rupees/article65627987.ece


6 posted on 07/12/2022 7:50:36 AM PDT by FarCenter
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To: Boomer

Weimar scenario is when you are using money to heat your house, because a truckload of cash only buys a wheelbarrow of firewood.


7 posted on 07/12/2022 8:02:02 AM PDT by NorseViking
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To: NorseViking

Got it. Pretty much like the Venezuela situation and the Mexican situation before then.

Dollar crash impending?

I think I remember the peso got up to a crazy high number to equal one dollar so the government dropped a couple of zero’s from the peso to get it back in line.

The domino’s are falling one by one as planned by the evil Davos/WEF groups. The Nazis have resurfaced and are far stronger than they were under Hitler having planned this takeover methodically and with great patience.

This truly is a combination of Russia/Iran/China working with the new Nazi 2.0 Party in the Davos/WEF groups to reset the entire world economy, governments, and culture. None of it good for the USA.

Of course the most corrupt President in US history now wants to ban our one form of defense against this tyrannical takeover. Our firearms. I hope he all the others working with him or turning a blind eye face judgment for their obvious treason. I think we all know what the proper sentence would be.


8 posted on 07/12/2022 8:16:49 AM PDT by Boomer ( George Orwell: “During times of universal deceit, telling the truth becomes a revolutionary act.”)
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To: Boomer

Its the new empire under BRICS. Multinational.

https://consortiumnews.com/2022/04/15/pepe-escobar-on-the-dawn-of-a-new-global-financial-system/

Pepe Escobar has written extensively about this, esp at The Cradle.


9 posted on 07/12/2022 9:06:50 AM PDT by MarMema
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To: Boomer
From this...

to "F**K YOU, America" in just two years.

10 posted on 07/12/2022 9:33:54 AM PDT by montag813
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To: montag813
to "F**K YOU, America"

Or just "F**K You, Joe Biden!"

11 posted on 07/12/2022 9:34:46 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: dfwgator
Or just "F**K You, Joe Biden!"

The effect is the same, sadly.

12 posted on 07/12/2022 9:35:40 AM PDT by montag813
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To: montag813

I don’t see it that way.


13 posted on 07/12/2022 9:36:03 AM PDT by dfwgator (Endut! Hoch Hech!)
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