It started when trump used USD as a weapon of mass destruction.
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De-dollarisation has started
- Thread starter syed putra
- Start date
Because it is gold-backed.
the "it" is not referred to USD. The gold-backed traded among themselves.
they sanction russia was the most stupid decision. everyone thinking keep fiat currencies means rich. but russia got the most resources maybe valued at 100 trillions.
Fiat currencies are cabal's doing and can easily be use for corruption. and that is happening. Money created out of thin air and those control the money can pressed digits in the computer and thus appear the money.
With gold-backed, this will be prevented. This is one of the adjustments to honesty.
Every one with some understanding of monetary theory will know that it is simple to have an international currency backed by gold. In fact ancient empires used only gold, silver and copper as currency. It is the USA which created the Fed in 1913 that started the trend in fiat (paper) currency replacing gold and silver as money. With paper money, you could print as much as you want. It is most valuable if you could force others to accept it at gun-point which is what the US is doing to weak and smaller countries.
This BS (bluff) from Wikipedia that tries to redefine commodity currency to include some fiat (paper, digital) currencies, e.g. about New Zealand dollar as a commodity currency, etc:
One mBRIC = 0.5 g Gold + 100 g Silver + 1 kg rice + 1 kg wheat + 0.01 barrel crude oil.
We need to maintain a central storage for the commodities and to exchange mBRIC with the equivalent amount of commodities. Only central banks of members may demand such exchanges.
Even China+Russia+India+Brazil is not economically strong enough to create a commodity currency. The member countries' percentage of total international trade must be great enough, say > 70%. You also need to be a superpower block to ensure no member country may be threatened to join as a member and to use the unit for international trade.
Currently, only the NATO countries and allies have that economic clout to dictate an international currency. They choose "paper" over real goods.
This talk about Saudi Arabia accepting Yuan for oil is sheer nonsense. What's the use of the Yuan to the Saudis? Buy melamine-laced milk powder? Or pay the Americans in Yuan for missiles?
"Einstein's E=mc² Is Invalid"
Chan Rasjid Kah Chew,
Singapore.
http://www.emc2fails.com
This BS (bluff) from Wikipedia that tries to redefine commodity currency to include some fiat (paper, digital) currencies, e.g. about New Zealand dollar as a commodity currency, etc:
A real commodity currency is nothing other then a fixed specified basket of commodities composing one unit of the currency. Currently 1 USD = 0.5 gram gold. We may define:
One mBRIC = 0.5 g Gold + 100 g Silver + 1 kg rice + 1 kg wheat + 0.01 barrel crude oil.
We need to maintain a central storage for the commodities and to exchange mBRIC with the equivalent amount of commodities. Only central banks of members may demand such exchanges.
Even China+Russia+India+Brazil is not economically strong enough to create a commodity currency. The member countries' percentage of total international trade must be great enough, say > 70%. You also need to be a superpower block to ensure no member country may be threatened to join as a member and to use the unit for international trade.
Currently, only the NATO countries and allies have that economic clout to dictate an international currency. They choose "paper" over real goods.
This talk about Saudi Arabia accepting Yuan for oil is sheer nonsense. What's the use of the Yuan to the Saudis? Buy melamine-laced milk powder? Or pay the Americans in Yuan for missiles?
"Einstein's E=mc² Is Invalid"
Chan Rasjid Kah Chew,
Singapore.
http://www.emc2fails.com
Dumb mutt talking thru the ass again. Not able to read Chinese is bad enough. Not able to analyse is worst.
This dumb mutt always trying to make himself sound smart here but always fall flat on the face. I feel sorry for his race.
Chinese women?
UAE considering fighter trainers from china. JL-10.
China makes passenger aeroplanes too. Plus saudi biggest customer for its oil is china. China makes armed equipments too. Something china has slready announced its intention to export. Electric vehicles.
You can buy many more msnufactured things in yuan than you can in USD.
The Chinese, Russians, Brazilians, etc... are not dumb. They of course would not want to trade real goods and accept paper - the USD. But there is nothing much they can do under the current world economic and financial order. International trade prices usually need to be quoted in an internationally accepted currency. Currently it is the USD (I am not too sure if there are much international trades quoted in Euro, Yen, etc).
Take Thai rice. I believe (?) it is all quoted in USD. They need to quote one unified price to customers from China, Singapore, Malaysia, etc. Singapore importers simply get the USD from banks here and pay. I have some vague idea that Russia and China could be doing some trades using each others currencies, probably for some agreed upon commodities, prices and time frame.
When we say the Saudis are accepting Yuan for oil, what it finally translates to is the the Saudi Central Bank has decided to hold reserves in Yuan. If (?) Saudi oil exporters are multinationals, they have no incentives to quote in Yuan and accept Yuan; for multinationals to accept Yuan means they will be holding Yuan account in some Chinese banks in China - deposits in the Chinese banking system. In general, they would not do so (? it would mean speculating in the Yuan). They would need to sell the Yuan to the forex market and get back USD - a roundabout trip.
I believe most exports from China would be quoted and traded in USD. Commercial importers from other Arab states would expect to pay in USD and not Yuan. There is no reason why China demands pricing and trades in Yuan when the Yuan is not yet an international currency.
The world's order now does not allow any other key international currency except the USD - through the "petrodollar".
"Einstein's E=mc² Is Invalid"
Chan Rasjid Kah Chew,
Singapore.
http://www.emc2fails.com
actually for the past 30 years. how many items u have purchased are made in usa? even made in japan also rare. machiam i buy everything is made in china.
the problem now is inflation at 10%. if buy ust 10 year like 2%? after 10 years is as good as 100% gone.
if ppl needs to use usd buy then exchange token like in game arcades. dun need to keep.
if oil sell in rmb has great implications in the minds. meaning that saudi betting that china will be the next largest economy.
Saudi Arabia has invited Xi jinping over. Most likely they will be officially signing a major deal there
Rmb cannot internationalise otherwise corrupted money will be gone and HK will be called Hong kan. So, not so fast.
who the hell with the right mind would buy ust 10s at 2% when real inflation is 15%
furthermore us debt at 30 trillion, if usd depreciate by 30%. hong kan liao
the Fed is buying their own debt, what a joke
Fuel inflation caused by biden prohibiting shale oil and gas from operating. Otherwise it would be not more than usd80/ bbl.
Is this the calm before California ports’ next cargo storm?
Improved velocity and fluidity, yet higher risk after China COVID outbreak
Greg Miller, Senior Editor Follow on TwitterWednesday, March 16, 20224 minutes read
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Finally, some relief from supply chain bottlenecks for the besieged ports of Los Angeles and Long Beach. In the first two months of 2022, the queue of ships waiting for Southern California berths fell, velocity of cargo moving through terminals increased and more boxes were unloaded at Southern California docks.
Relief may be brief, however.
Gene Seroka, executive director of the Port of Los Angeles, acknowledged during a press conference on Wednesday that another round of cargo surges could lie ahead. This week’s COVID lockdowns in Shenzhen, China, could lead to a “hockey stick” of inbound cargo volumes after factories reopen, he said.
Meanwhile, inbound volumes “will likely pick up given the direction retailers are giving us on their need to replenish inventories.”
Then comes the risk from port labor negotiations this summer and the annual peak-season volume increase, which last year began in June.
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unfortunately alot of kum gong. but now they woke up and powell has to buy own debts. become a joker liao.
Kah Chew A A A
you very cheem one...TKTS. cw
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