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Will BRICS replace the dollar as the world's reserve currency?

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  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    Appears China is also converting its US dollars into gold:

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    And BRICS will have no influence on the world stage? LOL

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    @derryb said:
    dollar might be buying more yuan but it is buying less Spaghetti O's

    Who needs Spaghett-Os when you can buy airline tickets...

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    @dcarr said:

    @cohodk said:
    NVDA has a higher market cap than the GDP of Russia.

    MSFT is about equal to India.

    Facebook is equal to South Africa.

    Maybe we should be discussing those companies creating a currency. They might prove more competitive. Lol

    .

    If anything, those data points indicate that perhaps the stock market (especially "tech" stocks) is way over-priced relative to other things.

    Facebook is basically worthless as far as I am concerned.

    .

    Well, they can reach 3 billion people in 2 seconds so it's highly unlikely they care about your opinion.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    @cohodk said:

    @derryb said:
    dollar might be buying more yuan but it is buying less Spaghetti O's

    Who needs Spaghett-Os when you can buy airline tickets...

    That's pretty amazing. 5 out of the top 10 busiest travel days on record all occurred in the last 10 days. BOOMIN! THKS!

  • derrybderryb Posts: 36,778 ✭✭✭✭✭
    edited May 26, 2024 7:11AM

    @blitzdude said:

    That's pretty amazing. 5 out of the top 10 busiest travel days on record all occurred in the last 10 days. BOOMIN! THKS!

    Do you think they were bought with cash or just piled on to the credit card debt? yes, it does matter when looking at the overall personal debt problem in this country.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • WingsruleWingsrule Posts: 3,009 ✭✭✭✭

    Can’t buy plane tickets with cash :)

  • WingsruleWingsrule Posts: 3,009 ✭✭✭✭

    But I understand your question.

    Got almost $800 in cash back last year, didn’t pay a penny in interest. Paid full at the end of every month.

  • derrybderryb Posts: 36,778 ✭✭✭✭✭
    edited May 26, 2024 8:51AM

    I'm with you - pay it in full each month and enjoy the perks. However. . .

    credit card delinquency rate has doubled since 2021

    and the debt itself is going ballistic:

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • dcarrdcarr Posts: 8,423 ✭✭✭✭✭

    @Wingsrule said:
    But I understand your question.

    Got almost $800 in cash back last year, didn’t pay a penny in interest. Paid full at the end of every month.

    .

    That is good, but you still paid more than really necessary.
    Credit card fees average about 3% off the top.
    Merchants and businesses have higher prices to cover those fees.

    If the credit card middle-man was cut out, everyone would save 3%.

    .

  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    @dcarr said:

    @Wingsrule said:
    But I understand your question.

    Got almost $800 in cash back last year, didn’t pay a penny in interest. Paid full at the end of every month.

    .

    That is good, but you still paid more than really necessary.
    Credit card fees average about 3% off the top.
    Merchants and businesses have higher prices to cover those fees.

    If the credit card middle-man was cut out, everyone would save 3%.

    .

    but, you don't save that 3% if you use cash. Some gas stations offer a cash discount.

    I was surprised to learn that waiter tips put on the credit card do not all go to the waiter. I now pay the tip in cash directly to the server.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    Credit cards are wonderful. I use them everywhere I can. Points = Free Au. RGDS!

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    @derryb said:

    @blitzdude said:

    That's pretty amazing. 5 out of the top 10 busiest travel days on record all occurred in the last 10 days. BOOMIN! THKS!

    Do you think they were bought with cash or just piled on to the credit card debt? yes, it does matter when looking at the overall personal debt problem in this country.

    If folk are flying and are using cards to finance the tickets because they don't have the cash, then that's a personal responsibility problem. But some here would say those folk are being "forced". Lol

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    @dcarr said:

    @Wingsrule said:
    But I understand your question.

    Got almost $800 in cash back last year, didn’t pay a penny in interest. Paid full at the end of every month.

    .

    That is good, but you still paid more than really necessary.
    Credit card fees average about 3% off the top.
    Merchants and businesses have higher prices to cover those fees.

    If the credit card middle-man was cut out, everyone would save 3%.

    .

    Do you offer folk a 3% discount if they want to buy one of your products via check?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,806 ✭✭✭✭✭

    But some here would say those folk are being "forced". Lol

    Funny, isn’t it?

    Discussion about personal responsibility aside, I have very mixed feelings about your lack of empathy for those who can’t afford an annual wilderness fishing trip.

    It’s true that some people simply don’t have the capacity to learn the basics of money management, but when 70% of the working population are living paycheck to paycheck (up from 64% just a couple months ago) then it’s a serious societal problem.

    Laugh it up, but unless you are Bill Gates or Zuckerbucks or live in Martha’s Vineyard, it’s likely that you will eventually have to experience a bit of anxiety when the breakins start happening in your own little gated community, like they are now experiencing in Beverly Hills.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    @cohodk said:

    If folk are flying and are using cards to finance the tickets because they don't have the cash, then that's a personal responsibility problem. But some here would say those folk are being "forced". Lol

    As far as I can tell the only time the "forced" word has been used concerning CC debt is when necessities such as food are bought and the buyer cannot afford to pay the CC bill. LOL

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    There will always be folk who can't afford life. Always has been, always will be. Some were dealt a bad hand, many were not. They choose to be lazy, poor stewards of money, have poor morals, or simply don't care. They are weak. What are we going to do about it?

    I highly contest your assertion of 70% living paycheck to paycheck, as I stated a few weeks ago. Are there many that are struggling, of course. There are also many who are doing much better than 4 years ago.

    You like to say everything is terrible while I say it ain't that bad.

    You say folk in gated communities should be fearful because soon they will be overrun with hoodlums. I'm not worried. And not because my head is in the sand, but because I can see above the chaos, fear mongering, and misinformation.

    Echo chambers are prisons.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    @derryb said:

    @cohodk said:

    If folk are flying and are using cards to finance the tickets because they don't have the cash, then that's a personal responsibility problem. But some here would say those folk are being "forced". Lol

    As far as I can tell the only time the "forced" word has been used concerning CC debt is when necessities such as food are bought and the buyer cannot afford to pay the CC bill. LOL

    Jmski says the evil banksters "force" debt on folk. All kinds of debt. It's in these threads, but I can't waste time proving again you wrong tonight. The Nascar race will resume soon.

    And there are probably very few who are racking up CC debt for food. Those po' folk get free "money from thin air".

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • dcarrdcarr Posts: 8,423 ✭✭✭✭✭

    @cohodk said:

    @dcarr said:

    @Wingsrule said:
    But I understand your question.

    Got almost $800 in cash back last year, didn’t pay a penny in interest. Paid full at the end of every month.

    .

    That is good, but you still paid more than really necessary.
    Credit card fees average about 3% off the top.
    Merchants and businesses have higher prices to cover those fees.

    If the credit card middle-man was cut out, everyone would save 3%.

    .

    Do you offer folk a 3% discount if they want to buy one of your products via check?

    .

    If someone asks to pay by check for a larger order I offer 5% discount.
    That applies to orders from my internet store, but not to commissioned projects (the latter is always expected to be paid by check upon project completion).

    .

  • dcarrdcarr Posts: 8,423 ✭✭✭✭✭

    Greater availability of credit allows people and governments to bid up the cost of everything: housing; transportation; education; food; etc. Those who offer the credit become the middle-men, skimming 3% or more off the top of the economy.
    And there is very little risk to those middle-men. If things go sour, the government will bail them out and/or print more money. Commerce should not have to pay middle-men off the top all the time.

    When we had a gold standard (that was adhered to), the availability of credit was much lower because banks were very cautious about loaning out gold. It was hard to get gold back if the loan was a loss. But with fiat, banks will loan much more freely because the fiat is relatively easy to replace compared to gold.

    Look at the ridiculous high cost of attending college. Wide availability of student loans has contributed to that. With former students struggling to pay the debt (and many of them not paying at all), now we have student loan forgiveness. This may at first seem like the intended reason is to help out younger college graduates. But in reality it is to help out the banks that made the loans.

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    College should be free for all in this great nation. Uncle Sam financed my education. Semper!

  • dcarrdcarr Posts: 8,423 ✭✭✭✭✭
    edited May 27, 2024 2:04PM

    @blitzdude said:
    College should be free for all in this great nation. Uncle Sam financed my education. Semper!

    .

    How do you want the government to pay for that, higher taxes or more inflation ?

    We already have too may college graduates who expect a "white-collar" job, and not enough "blue-collar" people to do the real work.

    .

  • HigashiyamaHigashiyama Posts: 2,192 ✭✭✭✭✭

    @dcarr said “We already have too may college graduates who expect a "white-collar" job, and not enough "blue-collar" people to do the real work.”

    I know what you mean and agree — with a caveat — a lot of “white collar” jobs are essential to the economy, require extremely hard work, etc. It’s real work. Without software engineers, for example, we wouldn’t be chatting here! 🤣

    Higashiyama
  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    @dcarr said:

    @blitzdude said:
    College should be free for all in this great nation. Uncle Sam financed my education. Semper!

    .

    How do you want the government to pay for that, higher taxes or more inflation ?

    We already have too may college graduates who expect a "white-collar" job, and not enough "blue-collar" people to do the real work.

    .

    Start by taxing billionaires. RGDS!

  • GoldFinger1969GoldFinger1969 Posts: 1,715 ✭✭✭✭✭

    @derryb said:
    And BRICS will have no influence on the world stage? LOL

    Yup. :D

    Illiquid bond and stock markets...no rule of law....no private property rights....capital controls....bought-and-paid for judiciary.....only speculative capital need apply. :)

  • GoldFinger1969GoldFinger1969 Posts: 1,715 ✭✭✭✭✭

    @blitzdude said:
    College should be free for all in this great nation. Uncle Sam financed my education. Semper!

    It's never "free" -- just a question of WHO pays and HOW.

  • GoldFinger1969GoldFinger1969 Posts: 1,715 ✭✭✭✭✭

    @dcarr said:
    But in reality it is to help out the banks that made the loans.

    For you, it's always the banks. :D

    The banking sector's exposure to student debt is non-existent. Don't you remember, Barack Obama cutting out the middleman to "help" students ? :D

  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    @GoldFinger1969 said:

    @blitzdude said:
    College should be free for all in this great nation. Uncle Sam financed my education. Semper!

    It's never "free" -- just a question of WHO pays and HOW.

    maybe free community college. Something to give the overpriced universities a bit of competition.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • dcarrdcarr Posts: 8,423 ✭✭✭✭✭

    @GoldFinger1969 said:

    @dcarr said:
    But in reality it is to help out the banks that made the loans.

    For you, it's always the banks. :D

    The banking sector's exposure to student debt is non-existent. Don't you remember, Barack Obama cutting out the middleman to "help" students ? :D

    https://investopedia.com/articles/personal-finance/081216/who-actually-owns-student-loan-debt.asp

    From the web site:

    "Student loans are owned by the federal government or private institutions, depending on the type of student loan. Federal student loans are owned by the U.S. Department of Education while private student loans are owned by the financial institution that granted them."

    "The federal government fully guarantees almost all student loans."

    More loans (even when they shouldn't be made) result in more profits for the financial institutions.
    And greater availability of student funding results in Universities being able to charge more.

  • SoldiSoldi Posts: 2,177 ✭✭✭✭✭

    No what part of No do you not understand.

    Sovereign currencies

    We lose Reserve status the world loses its balance completely

    Stop with the u tube prognosticators and sensation news

  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    @Soldi said:

    We lose Reserve status the world loses its balance completely

    A rebalance has occurred before. The world still spins.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • GoldFinger1969GoldFinger1969 Posts: 1,715 ✭✭✭✭✭

    Brazil just replaced the head of their flagship Petrobras, the partly-private national oil company which has some of the best salt deposits in the world.

    They will have their 10th CEO in the last deacde...the 43rd CEO since 1957.

    Anybody who thinks Brazil will be a major financial center, BRIC or not, is about 40 years too early. :D

  • jmski52jmski52 Posts: 22,806 ✭✭✭✭✭

    Anybody who thinks Brazil will be a major financial center, BRIC or not, is about 40 years too early. :disappointed:

    Nobody here in this forum has made such a statement.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • GoldFinger1969GoldFinger1969 Posts: 1,715 ✭✭✭✭✭

    @jmski52 said:
    Nobody here in this forum has made such a statement.

    We have plenty of people extolling the BRICs and I submit it's a non-entity.

  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    @GoldFinger1969 said:

    @jmski52 said:
    Nobody here in this forum has made such a statement.

    We have plenty of people extolling the BRICs and I submit it's a non-entity.

    The "extolling" is in the fact that the dollar is losing its status of a currency backed by military might. Iraq and Libya suffered the consequences of challenging the dollar. BRICS is simply demonstrating that there are countries who fear the weaponizing of the US dollar itself but no longer fear military backing of that dollar. With two of the world's superpowers, BRICS is too big to take on with a military fight over which currency will dominate. While the US is attempting such with a defacto war against the "R," it will not challenge the "C."

    BRICS will not replace the dollar. It's members, however, will have a strong voice in what does. And something will replace the current world reserve currency. Something else always has when the owner of that currency loses power and its standing on the world stage.

    Gold will be the beneficiary and is likely to be a part of the formula for what does become the "new" method of payment in the next world economy.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • dcarrdcarr Posts: 8,423 ✭✭✭✭✭

    @GoldFinger1969 said:

    @jmski52 said:
    Nobody here in this forum has made such a statement.

    We have plenty of people extolling the BRICs and I submit it's a non-entity.

    Warning, not "extolling".

  • dcarrdcarr Posts: 8,423 ✭✭✭✭✭

    @derryb said:

    @Soldi said:

    We lose Reserve status the world loses its balance completely

    A rebalance has occurred before. The world still spins.

    .

    The British Pound was the world's dominant currency at one time. Now it is not.

    .

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    @dcarr said:

    @derryb said:

    @Soldi said:

    We lose Reserve status the world loses its balance completely

    A rebalance has occurred before. The world still spins.

    .

    The British Pound was the world's dominant currency at one time. Now it is not.

    .

    So were cattle, cowrie shells, and tulip bulbs. As much as you wish for the dollar to fail, we will not see it in our lifetimes. Nor will your beloved brics become the worlds reserve currency. God bless America! RGDS!

  • jmski52jmski52 Posts: 22,806 ✭✭✭✭✭

    We have plenty of people extolling the BRICs and I submit it's a non-entity.

    You are intentionally misusing the word “extoll” which means “to praise enthusiastically”.

    Nobody here has “extolled” the formation of the BRICS. What’s being pointed out are the simple facts that numerous countries are trying to get away from the Western banking system because they no longer trust it.

    There are two choices - stick one’s head several feet into the sand, or to see what’s happening and take actions in an attempt to mitigate the fallout.

    The laws that enable the “great taking” which allow the banks to steal people’s unencumbered assets such as stocks & bonds during a financial crisis are a prime example of why that trust was lost.

    Get your assets out of the banking & clearing organizations because you no longer have the property rights to that property and the banks have already gambled away your assets via derivatives.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    @blitzdude said:

    @dcarr said:

    @derryb said:

    @Soldi said:

    We lose Reserve status the world loses its balance completely

    A rebalance has occurred before. The world still spins.

    .

    The British Pound was the world's dominant currency at one time. Now it is not.

    .

    So were cattle, cowrie shells, and tulip bulbs. As much as you wish for the dollar to fail, we will not see it in our lifetimes.

    Are there those here with such a peanut for a brain that they actually believe that if one points out the inevitability of something happening the one doing the pointing out wishes for it to happen? If I say a hurricane is likely to strike this week it does not mean I want it to strike. Forum should require a minimum brain size in order to post.

    Bearers of bad news do no necessarily wish that bad news to occur.

    Nor will your beloved brics become the worlds reserve currency.

    Yet BRICS is likely to expedite the end of the current one. LOL

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    @jmski52 said:
    We have plenty of people extolling the BRICs and I submit it's a non-entity.

    You are intentionally misusing the word “extoll” which means “to praise enthusiastically”.

    Nobody here has “extolled” the formation of the BRICS. What’s being pointed out are the simple facts that numerous countries are trying to get away from the Western banking system because they no longer trust it.

    Good for them. Please answer the question posed below if you disagree.

    There are two choices - stick one’s head several feet into the sand, or to see what’s happening and take actions in an attempt to mitigate the fallout.

    What's the fallout? Dcarr added that the British pound lost reserve currency status. What was the fallout?

    The laws that enable the “great taking” which allow the banks to steal people’s unencumbered assets such as stocks & bonds during a financial crisis are a prime example of why that trust was lost.

    What the heck are talking about?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,778 ✭✭✭✭✭
    edited May 30, 2024 10:27AM

    @cohodk said:

    What's the fallout? Dcarr added that the British pound lost reserve currency status. What was the fallout?

    Britain and its currency once ruled much of the world with colonies and trade dominance around the globe. It has since lost it's empire and has taken a back seat to the US in world affairs. Britain has been relegated the role of the lapdog for the US. Is that enough fallout for ya?

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    Great Britian is doing just fine. In fact, they too be BOOMIN! RGDS!!

  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    .> @blitzdude said:

    That's pretty amazing. 5 out of the top 10 busiest travel days on record all occurred in the last 10 days. BOOMIN! THKS!

    Credit cards are boomin.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • dcarrdcarr Posts: 8,423 ✭✭✭✭✭
    edited May 30, 2024 1:59PM

    @blitzdude said:

    @dcarr said:

    @derryb said:

    @Soldi said:

    We lose Reserve status the world loses its balance completely

    A rebalance has occurred before. The world still spins.

    .

    The British Pound was the world's dominant currency at one time. Now it is not.

    .

    So were cattle, cowrie shells, and tulip bulbs. As much as you wish for the dollar to fail, we will not see it in our lifetimes. Nor will your beloved brics become the worlds reserve currency. God bless America! RGDS!

    .

    You lie.

    I do not "wish" for the US Dollar to fail. Prove me wrong and quote any post where I did.
    BRICS are not "beloved" by me in the slightest. Prove me wrong and quote any post where I glorified them.

    I do not live in, or want to live in, any BRICS country. And I do not personally know anybody that does.

    Regardless, BRICS do pose a challenge to America's financial status.

    The point is that the US Dollar, like the British Pound, will not remain the dominant currency in the world forever.

    .

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    No currency in the history of mankind has remained the "dominant" world currency. What is certain is the world's next reserve currency certainly won't be courtesy of the BRICS. God Bless America! RGDS!

  • derrybderryb Posts: 36,778 ✭✭✭✭✭
    edited May 30, 2024 2:11PM

    @dcarr said:

    @blitzdude said:

    @dcarr said:

    @derryb said:

    @Soldi said:

    We lose Reserve status the world loses its balance completely

    A rebalance has occurred before. The world still spins.

    .

    The British Pound was the world's dominant currency at one time. Now it is not.

    .

    So were cattle, cowrie shells, and tulip bulbs. As much as you wish for the dollar to fail, we will not see it in our lifetimes. Nor will your beloved brics become the worlds reserve currency. God bless America! RGDS!

    .
    You lie.

    I do not "wish" for the US Dollar to fail. Prove me wrong and quote any post where I did.
    BRICS are not "beloved" by me in the slightest. Prove me wrong and quote any post where I glorified them.

    I do not live in, or want to live in, any BRICS country. And I do not personally know anybody that does.

    Regardless, BRICS do pose a challenge to America's financial status.

    The point is that the US Dollar, like the British Pound, will not remain the dominant currency in the world forever.

    .

    Accept the fact that just like you see on TV news, there are some here who will say what they can in attempt to discredit those who offer views that do not fit the narrative. Just like mainstream media, they fail to see the value in opposing views and have convinced themselves that there is only one truth, their truth.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    @derryb said:

    @cohodk said:

    What's the fallout? Dcarr added that the British pound lost reserve currency status. What was the fallout?

    Britain and its currency once ruled much of the world with colonies and trade dominance around the globe. It has since lost it's empire and has taken a back seat to the US in world affairs. Britain has been relegated the role of the lapdog for the US. Is that enough fallout for ya?

    Not really. What did this mean for Joe six pack Londoner?

    Would you want to get bit by that lap dog?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,778 ✭✭✭✭✭

    .> @cohodk said:

    @derryb said:

    @cohodk said:

    What's the fallout? Dcarr added that the British pound lost reserve currency status. What was the fallout?

    Britain and its currency once ruled much of the world with colonies and trade dominance around the globe. It has since lost it's empire and has taken a back seat to the US in world affairs. Britain has been relegated the role of the lapdog for the US. Is that enough fallout for ya?

    Not really. What did this mean for Joe six pack Londoner?

    Would you want to get bit by that lap dog?

    pretty sure that more than just one Englishman benefited from Britain's demise.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    @derryb said:
    .> @cohodk said:

    @derryb said:

    @cohodk said:

    What's the fallout? Dcarr added that the British pound lost reserve currency status. What was the fallout?

    Britain and its currency once ruled much of the world with colonies and trade dominance around the globe. It has since lost it's empire and has taken a back seat to the US in world affairs. Britain has been relegated the role of the lapdog for the US. Is that enough fallout for ya?

    Not really. What did this mean for Joe six pack Londoner?

    Would you want to get bit by that lap dog?

    pretty sure that more than just one Englishman benefited from Britain's demise.

    What is this demise you speak of?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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