Posted on 06/25/2024 12:59:41 PM PDT by hardspunned
The BRICS alliance kick-started the de-dollarization agenda to bring the US dollar down from the world’s reserve currency status. The bloc initiated multiple policies to hamper the USD’s growth and make local currencies the center of all transactions. The de-dollarization program was started in 2022 after the US placed sanctions on Russia for invading Ukraine.
The US dollar remains the world’s de facto currency for trade despite BRICS indulging in de-dollarization practices. Their policies did little to nothing to bring the US dollar down and the USD currency maintains its worldwide supremacy. A new study from the Atlantic Council’s GeoEconomics Center shows that the US dollar continues to be the primary currency for all trade and cross-border transactions.
(Excerpt) Read more at x.com ...
“ So, China can now buy oil in Yuan.”
Isn’t the yuan loosely pegged to the dollar? I know that the Chicoms try to limit the decline of the yuan vs the dollar.
De-dollarization will happen eventually—but not through negotiations at a table.
History is very clear on this.
Currencies collapse when the nation with the top currency loses its power in a war or wars.
Then the new “top dog” emerges.
Think ancient Rome, Portugal, Spain, Britain.....
Biden’s economic advisor, Jared Bernstein, you know, the guy in the infamous YouTube video who was incapable of answering basic economic questions, has long been on record as wanting to end the US dollar as the world’s reserve currency. So you legitimately have to ask yourself if this is all part of a grand plan.
These are the people who are running this country.
Saddam thought so too, until he got a little “democracy”:
U.N. to let Iraq sell oil for euros, not dollars
https://www.cnn.com/2000/WORLD/meast/10/30/iraq.un.euro.reut/
I believe so; maybe heavily weighted. I think it is pegged to a small basket of currencies which they shift weighting in order to keep the Yuan stable - or to move its value if they want to.
US military not even close to what is was during the Iraq invasion.
Can’t even stop a terrorist blockade of the Suez Canal.
US threatened to bomb Hezbollah into the Stone Age if it intervened after Oct 7.
Hez said do your worst and fired thousands of rockets into Israel.
So, far, zero US bombs.
Wait…I thought the petrodollar was dead and Russia and China will rule the financial world going forward.
Just the thought of the Yuan and Ruble being used for anything serious just makes me guffaw a little.
Such economic delusion out there.
Months ago there was a lot on hootin’ and hollerin’ about the demise of the dollar and the US. I didn’t like what I was seeing either, but I stated things
don’t always turn out like you think they will. Here we are. Things didn’t go
go the way our enemies wanted them to.
We definitely need to get our debt under control. OR ELSE!
If the DNC retains the white house, the Brics family will grow to over 160 countries.
Turkey is on the cusp of joining. Hungry is going to join or at least have an associate status.
Venezuela, Malaysia, Thailand are the latest to apply.
All countries must ban sanctions.
Related links to Brics and finances.
https://www.youtube.com/watch?v=89rrMXU5b8U
https://www.youtube.com/watch?v=0XI0xyQVcRk
https://www.youtube.com/watch?v=Vv9DVOhyNhE
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