@jmski52 said: The G5 and G7 are failing socialist states where cronyism, financialization and manipulated markets rule.
FIFY
Send your money to Putin. I dare you.
There is an alternative: Simply recognize G5. G7 and G20 for what they are - failing socialist states where cronyism, financialization and manipulated markets rule. As bad as the news is, it is what it is. West was right when they claimed communism would fail. Appears East is proving correct in claiming that capitalism would eat itself. Worst event in modern history was globalization. To succeed, globalization would require a single set of rules that apply to all involved.
All the "great American pie" diehards here on the forum refuse to see that even their favorite pie is full of its own poisons. Putting blind faith in one's economic leaders and in one's currency leaves one blind. I don't understand how someone can see the US economy as "great" yet find the need to stack PMs.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@jmski52 said: The G5 and G7 are failing socialist states where cronyism, financialization and manipulated markets rule.
FIFY
Send your money to Putin. I dare you.
There is an alternative: Simply recognize G5. G7 and G20 for what they are - failing socialist states where cronyism, financialization and manipulated markets rule. As bad as the news is, it is what it is. West was right when they claimed communism would fail. Appears East is proving correct in claiming that capitalism would eat itself. Worst event in modern history was globalization. To succeed globalization would require a single set of rules that apply to all involved.
Wake up Brother, we be BOOMIN! RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
@jmski52 said: The G5 and G7 are failing socialist states where cronyism, financialization and manipulated markets rule.
FIFY
Send your money to Putin. I dare you.
There is an alternative: Simply recognize G5. G7 and G20 for what they are - failing socialist states where cronyism, financialization and manipulated markets rule. As bad as the news is, it is what it is. West was right when they claimed communism would fail. Appears East is proving correct in claiming that capitalism would eat itself. Worst event in modern history was globalization. To succeed globalization would require a single set of rules that apply to all involved.
Wake up Brother, we be BOOMIN! RGDS!
prefer to remain Not Woke.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@jmski52 said: The G5 and G7 are failing socialist states where cronyism, financialization and manipulated markets rule.
FIFY
Send your money to Putin. I dare you.
There is an alternative: Simply recognize G5. G7 and G20 for what they are - failing socialist states where cronyism, financialization and manipulated markets rule. As bad as the news is, it is what it is. West was right when they claimed communism would fail. Appears East is proving correct in claiming that capitalism would eat itself. Worst event in modern history was globalization. To succeed globalization would require a single set of rules that apply to all involved.
Wake up Brother, we be BOOMIN! RGDS!
prefer to remain Broke Not Woke.
Fixed it for ya! THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Appears East is proving correct in claiming that capitalism would eat itself.
Capitalism isn't really what we have. If only.
Worst event in modern history was globalization.
You may be right about that.
Wake up Brother, we be BOOMIN! RGDS!
Do you even know what a debt bubble is?
Send your money to Putin. I dare you.
Putin has zero to do with the fact that the Fed is fueling the biggest crackup boom in history with the intention of implementing a cbdc that will give them total control over your life and mine. You may think you're immune, but you aren't.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said: Wake up Brother, we be BOOMIN! RGDS!
Do you even know what a debt bubble is?
A bunch of made up "digits" that means absolutely nothing?
You're letting the whole world pass you by hunkered down in that bunker of yours. Step outside and let them beautiful rays of sunshine shine down on that grape of yours. It's a wonderful world out here. Come out and enjoy life. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
@derryb said:
My oh my, that nothingburger BRICS continues to become a Big Mac. LOL
A rancid Big Mac with botchulism, maybe.
Until they put their money where their mouths are -- free exchange of capital, private property rights, rule of law -- this is less than a nothingburger.
@derryb said:
My oh my, that nothingburger BRICS continues to become a Big Mac. LOL
A rancid Big Mac with botchulism, maybe.
Until they put their money where their mouths are -- free exchange of capital, private property rights, rule of law -- this is less than a nothingburger.
The threat from BRICS is not political (yet), it is a paradigm shift in international transaction payment methods. The US dollar is its target. China is our largest trading partner yet their human rights violations top the list. Guess it's OK to turn a blind eye when it benefits you. If you really care about international capital and private property rights, human rights and rule of law, post us a pic of you holding a "Buy American" sign outside Walmart instead of filling your house with their products.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb said:
.... filling your house with their products.
All made in USA!!!
.
I never did get the attraction of that sort of thing, especially putting it up on the wall.
Seems like such a waste.
.
I pet the bear everytime I walk by. He's so soft. His brother from another mother is on the adjacent wall. And many more deer skulls, elk, fishes, and birds. It's testament to family and those gatherings and memories. I can't think of anything further from "waste".
And good for my family tummy and provided a income for the taxidermy man to help support his family. And the sporting goods store owner to help support his. And on and on. All creating and supporting Americans and American jobs. Hard to call that waste.
Genesis 1:26-28.
Many, many hunters and conservationists also have an interest in precious metals and collect and stack gold, silver and platinum.
Foreign Investors Pull Record Amount of Money From China
The formation of the BRICS looks like currency wars to me.
Is it any wonder that any country would try to turn to their natural resources as a basis for a unit of trade? China has strategic materials and Russia, Saudi, UAE, South Africa have oil, Brazil has farmland, etc., etc. India is hoarding silver for a reason, possibly to become a player in the solar market.
A BRICS currency isn't much different than bitcoin except that it is also a distributed ledger that is intended to have some sort of natural resource backing, including gold, silver and oil.
The US and the West have resources as well. So, what's the reason that half the globe wants to get away from the dollar as the reserve currency? Obviously, the dollar has placed in debtor countries into a disadvantageous position in terms of getting value for value. That same disadvantage is being realized by US citizens who continue to see their own currency and savings degraded by extremely excessive government spending and the Fed's blatant abuse of "money creation".
I haven't heard much detail out of the BRICS conference, but I'm sure that the details will become clearer as the beta test for their "unit" and their new trading platform is put into practice. Have they decided on a percentage for gold backing? I've read that 40% gold backing is a possibility, but that was before their meeting. In any case, these developments are pretty positive for gold.
I'd love to see the US government change course and start emphasizing real productivity instead of playing with the numbers to make them look good. A currency unit based on physical gold & silver wouldn't be any worse than what's going on right now and the data couldn't be faked, at least not as much without being caught in a lie. That's why they invented audits, so long ago - before the days of derivatives and financialization of (almost) everything.
The end result of foreign investors pulling money out of China, and the end result of China divesting of their dollar hoard is the same - those dollars are ending up back in the West, and that simply means that the dollar (which is only a unit of debt) is BEING MONETIZED - which equates to more inflation.
Tariffs won't stop that and will most likely make things even worse - in effect making us all a captive market for the dollar-printers, even more so than now. Obviously changes are coming but it's anyone's guess what directions the changes will take.
I vote for gold and silver. It's a good way to get government accountability under control and also to install a bit more personal responsibility into the citizenry than now exists. My opinion.
Q: Are You Printing Money? Bernanke: Not Literally
As West Africa’s largest economy, Nigeria chose to issue a domestic bond in U.S. dollars rather than the local naira, reflecting the country’s economic difficulties. Nigeria has been grappling with a chronic shortage of foreign exchange, worsened by the ongoing depreciation of its currency. By opting for a dollar bond, the government hoped to attract investors seeking more stability, especially as the naira continues to lose value
I wonder why they issued bonds denominated in US dollars instead or Yuan, or Roubles, or Reals?
I wonder why they issued bonds denominated in US dollars instead or Yuan, or Roubles, or Reals?
Of course you know the reason. As GF will never fail to point out, it boils down to reliability and trust. When you rely on man-made constructs such as paper or digital currency, you should know in advance that they will inevitably fail in the long run because of the human management systems that will govern it.
The framers of the US Constitution had it right. Maybe we should revert back to that ancient and outdated old document. I seem to recall that gold and silver were the basis for "money".
Q: Are You Printing Money? Bernanke: Not Literally
As West Africa’s largest economy, Nigeria chose to issue a domestic bond in U.S. dollars rather than the local naira, reflecting the country’s economic difficulties. Nigeria has been grappling with a chronic shortage of foreign exchange, worsened by the ongoing depreciation of its currency. By opting for a dollar bond, the government hoped to attract investors seeking more stability, especially as the naira continues to lose value
I wonder why they issued bonds denominated in US dollars instead or Yuan, or Roubles, or Reals?
because at the time dollars were "top shelf." Unfortunately they continue their move to under the counter.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
As West Africa’s largest economy, Nigeria chose to issue a domestic bond in U.S. dollars rather than the local naira, reflecting the country’s economic difficulties. Nigeria has been grappling with a chronic shortage of foreign exchange, worsened by the ongoing depreciation of its currency. By opting for a dollar bond, the government hoped to attract investors seeking more stability, especially as the naira continues to lose value
I wonder why they issued bonds denominated in US dollars instead or Yuan, or Roubles, or Reals?
because at the time dollars were "top shelf." Unfortunately they continue their move to under the counter.
The article is dated 6 weeks ago. LOL
And here is a story from way back....yesterday. HAHA
@derryb said:
.... filling your house with their products.
All made in USA!!!
.
I never did get the attraction of that sort of thing, especially putting it up on the wall.
Seems like such a waste.
.
I pet the bear everytime I walk by. He's so soft. His brother from another mother is on the adjacent wall. And many more deer skulls, elk, fishes, and birds. It's testament to family and those gatherings and memories. I can't think of anything further from "waste".
And good for my family tummy and provided a income for the taxidermy man to help support his family. And the sporting goods store owner to help support his. And on and on. All creating and supporting Americans and American jobs. Hard to call that waste.
Genesis 1:26-28.
Many, many hunters and conservationists also have an interest in precious metals and collect and stack gold, silver and platinum.
Waste?
.
I can certainly understand the concept of hunting/fishing for the purpose of obtaining food (a person has to eat and I'm not a total vegetarian).
I also occasionally like to go target shooting (at inanimate objects).
But killing a majestic animal for "sport", especially to put it on the wall and not eat it, is totally disturbed (in my opinion).
You could instead put artwork on the wall, like a nice original painting of a bear.
The "taxidermy man" could go into the upholstery/furniture business instead. That would be a lot more useful application of their skills.
Nothing like a rugged Teddy Roosevelt-type outdoorsman to set the record straight, eh?
And coho thinks that I'm behind the times when I reference John Williams' inflation estimates based on 1970's & 1980's methodology - maybe by a few years behind the times, but not a whole century!
So why they decide to use dollar and not a BRICS currency?
Your Bloomberg article was 6 weeks ago, and the currency was just announced within this past week. The BRICS trading platform is undergoing beta-testing right now and has worked for 2 or 3 large transactions already.
I don't think it will be too long before Nigeria requests entrance into the BRICS, so ask your question in a year. Nigeria's got oil to play with.
Q: Are You Printing Money? Bernanke: Not Literally
@derryb said:
.... filling your house with their products.
All made in USA!!!
.
I never did get the attraction of that sort of thing, especially putting it up on the wall.
Seems like such a waste.
.
I pet the bear everytime I walk by. He's so soft. His brother from another mother is on the adjacent wall. And many more deer skulls, elk, fishes, and birds. It's testament to family and those gatherings and memories. I can't think of anything further from "waste".
And good for my family tummy and provided a income for the taxidermy man to help support his family. And the sporting goods store owner to help support his. And on and on. All creating and supporting Americans and American jobs. Hard to call that waste.
Genesis 1:26-28.
Many, many hunters and conservationists also have an interest in precious metals and collect and stack gold, silver and platinum.
Waste?
.
I can certainly understand the concept of hunting/fishing for the purpose of obtaining food (a person has to eat and I'm not a total vegetarian).
I also occasionally like to go target shooting (at inanimate objects).
But killing a majestic animal for "sport", especially to put it on the wall and not eat it, is totally disturbed (in my opinion).
I said they filled my belly, didn't I?
You could instead put artwork on the wall, like a nice original painting of a bear.
God's creations are much better and perfect than man's
Yup, with every generation the tradition and skills are lost. Indeed, a great waste.
@jmski52 said:
Nothing like a rugged Teddy Roosevelt-type outdoorsman to set the record straight, eh?
Don't be jealous.
And coho thinks that I'm behind the times when I reference John Williams' inflation estimates based on 1970's & 1980's methodology - maybe by a few years behind the times, but not a whole century!
Yall keep wanting to go back to pre-1913.
So why they decide to use dollar and not a BRICS currency?
Your Bloomberg article was 6 weeks ago, and the currency was just announced within this past week. The BRICS trading platform is undergoing beta-testing right now and has worked for 2 or 3 large transactions already.
2 or 3 transactions? Haha. The dollar does millions every second.
I don't think it will be too long before Nigeria requests entrance into the BRICS, so ask your question in a year. Nigeria's got oil to play with.
@derryb said:
.... filling your house with their products.
All made in USA!!!
.
I never did get the attraction of that sort of thing, especially putting it up on the wall.
Seems like such a waste.
.
I pet the bear everytime I walk by. He's so soft. His brother from another mother is on the adjacent wall. And many more deer skulls, elk, fishes, and birds. It's testament to family and those gatherings and memories. I can't think of anything further from "waste".
And good for my family tummy and provided a income for the taxidermy man to help support his family. And the sporting goods store owner to help support his. And on and on. All creating and supporting Americans and American jobs. Hard to call that waste.
Genesis 1:26-28.
Many, many hunters and conservationists also have an interest in precious metals and collect and stack gold, silver and platinum.
Waste?
.
I can certainly understand the concept of hunting/fishing for the purpose of obtaining food (a person has to eat and I'm not a total vegetarian).
I also occasionally like to go target shooting (at inanimate objects).
But killing a majestic animal for "sport", especially to put it on the wall and not eat it, is totally disturbed (in my opinion).
I said they filled my belly, didn't I?
You could instead put artwork on the wall, like a nice original painting of a bear.
God's creations are much better and perfect than man's
Yup, with every generation the tradition and skills are lost. Indeed, a great waste.
.
You ate the bear ?
Those fish don't look like they were eaten.
.
God's creations are much better and perfect than man's
@derryb said:
.... filling your house with their products.
All made in USA!!!
.
I never did get the attraction of that sort of thing, especially putting it up on the wall.
Seems like such a waste.
.
I pet the bear everytime I walk by. He's so soft. His brother from another mother is on the adjacent wall. And many more deer skulls, elk, fishes, and birds. It's testament to family and those gatherings and memories. I can't think of anything further from "waste".
And good for my family tummy and provided a income for the taxidermy man to help support his family. And the sporting goods store owner to help support his. And on and on. All creating and supporting Americans and American jobs. Hard to call that waste.
Genesis 1:26-28.
Many, many hunters and conservationists also have an interest in precious metals and collect and stack gold, silver and platinum.
Waste?
.
I can certainly understand the concept of hunting/fishing for the purpose of obtaining food (a person has to eat and I'm not a total vegetarian).
I also occasionally like to go target shooting (at inanimate objects).
But killing a majestic animal for "sport", especially to put it on the wall and not eat it, is totally disturbed (in my opinion).
I said they filled my belly, didn't I?
You could instead put artwork on the wall, like a nice original painting of a bear.
God's creations are much better and perfect than man's
Yup, with every generation the tradition and skills are lost. Indeed, a great waste.
.
You ate the bear ?
Sure did.
God's creations are much better and perfect than man's
only because their own currency is deeper in the dumpster. You're being fooled into believing the dollar is not somewhere in that dumpster.
Never said that I felt as you think I do. Just alerting you to the dumpster fire of your favorite group of nations. I wouldn't want you to be fooled.
.
Nobody here wrote that BRICS were their favoriite.
So why do you insert the "favorite group of nations" claim when you knew that wasn't true ?
It appears to be purely taunting in nature.
I wouldn't want to invest in, work in, or live in, a "BRICS" country. But that doesn't mean that we should ignore them, dismiss them, or assume that what they do won't affect us.
Trump said there is “no chance” BRIC will replace the U.S. dollar in global trade and any country that tries to make that happen “should wave goodbye to America
Trump said there is “no chance” BRIC will replace the U.S. dollar in global trade and any country that tries to make that happen “should wave goodbye to America
While Trump may seek to punish those abandoning the dollar, BRIC members are already bypassing the dollar when trading among each other. Additionally, because the US has chosen to use the dollar as a weapon there is a line waiting to join BRICs. The days of Trump's idea ended in the middle east when Khadafi met his fate trying to sell oil for gold. Threat to use US military to enforce dollar dominancy will not occur when it comes to superpowers such as China or Russia and likely those under their BRICs umbrella.
So unless we don't depend on BRICs members for our imports (and we do) Trump's threat to punish is idle. And tariffs? They will punish the American buyer of imported goods. All costs are passed on to the consumer unless it's a Costco baked chicken which Costco takes a $30M-40M annual loss on to get buyers in the store. There is a reason those cheap chickens are at the back of the store.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
BRICs trading partners of Brazil will have no choice but to demand gold or the currency of the trading partner for goods - has no affect on BRICs dismissing the US dollar.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Brazil took extraordinary measures Tuesday to stem a collapse in its currency that’s quickened in recent weeks amid investor fear of soaring budget deficits.
Pffft................the US Congress makes Brazil look like a bunch of pikers. They must be rank amateurs in the budget deficit department.
Q: Are You Printing Money? Bernanke: Not Literally
Comments
Can't wait for one of these nations to fall out of favor via autocrat cage match.
"Our banks will no longer accept currency with devil India's flag!"
Loves me some shiny!
Send your money to Putin. I dare you.
There is an alternative: Simply recognize G5. G7 and G20 for what they are - failing socialist states where cronyism, financialization and manipulated markets rule. As bad as the news is, it is what it is. West was right when they claimed communism would fail. Appears East is proving correct in claiming that capitalism would eat itself. Worst event in modern history was globalization. To succeed, globalization would require a single set of rules that apply to all involved.
All the "great American pie" diehards here on the forum refuse to see that even their favorite pie is full of its own poisons. Putting blind faith in one's economic leaders and in one's currency leaves one blind. I don't understand how someone can see the US economy as "great" yet find the need to stack PMs.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Wake up Brother, we be BOOMIN! RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
prefer to remain Not Woke.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Fixed it for ya! THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Appears East is proving correct in claiming that capitalism would eat itself.
Capitalism isn't really what we have. If only.
Worst event in modern history was globalization.
You may be right about that.
Wake up Brother, we be BOOMIN! RGDS!
Do you even know what a debt bubble is?
Send your money to Putin. I dare you.
Putin has zero to do with the fact that the Fed is fueling the biggest crackup boom in history with the intention of implementing a cbdc that will give them total control over your life and mine. You may think you're immune, but you aren't.
I knew it would happen.
A bunch of made up "digits" that means absolutely nothing?
You're letting the whole world pass you by hunkered down in that bunker of yours. Step outside and let them beautiful rays of sunshine shine down on that grape of yours. It's a wonderful world out here. Come out and enjoy life. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Every mortgage company and every underwater borrower would strongly disagree with you. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Proposed BRICS Precious Metals Exchange to become ‘key regulator of prices’?
My oh my, that nothingburger BRICS continues to become a Big Mac. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
A rancid Big Mac with botchulism, maybe.
Until they put their money where their mouths are -- free exchange of capital, private property rights, rule of law -- this is less than a nothingburger.
Imagine the cries of manipulation if that happened. But we dont have to worry, because it wont.
Knowledge is the enemy of fear
The threat from BRICS is not political (yet), it is a paradigm shift in international transaction payment methods. The US dollar is its target. China is our largest trading partner yet their human rights violations top the list. Guess it's OK to turn a blind eye when it benefits you. If you really care about international capital and private property rights, human rights and rule of law, post us a pic of you holding a "Buy American" sign outside Walmart instead of filling your house with their products.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
All made in USA!!!
Knowledge is the enemy of fear
Made in The Commonwealth. Corn season. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
That ain't much. How about the phone/camera you used to show some tokens?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Dinner GRACIAS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
That's just the kitchen and breakfast nook. Where's yours?
Besides, no one, no one, on this forum has railed more against the weak that buy China junk.
Getting to be that time again Blitz. Can't think of a better way to wait for "the end" than watching over God's creations.
Knowledge is the enemy of fear
.
I never did get the attraction of that sort of thing, especially putting it up on the wall.
Seems like such a waste.
.
I pet the bear everytime I walk by. He's so soft. His brother from another mother is on the adjacent wall. And many more deer skulls, elk, fishes, and birds. It's testament to family and those gatherings and memories. I can't think of anything further from "waste".
And good for my family tummy and provided a income for the taxidermy man to help support his family. And the sporting goods store owner to help support his. And on and on. All creating and supporting Americans and American jobs. Hard to call that waste.
Genesis 1:26-28.
Many, many hunters and conservationists also have an interest in precious metals and collect and stack gold, silver and platinum.
Waste?
Knowledge is the enemy of fear
Foreign Investors Pull Record Amount of Money From China
The formation of the BRICS looks like currency wars to me.
Is it any wonder that any country would try to turn to their natural resources as a basis for a unit of trade? China has strategic materials and Russia, Saudi, UAE, South Africa have oil, Brazil has farmland, etc., etc. India is hoarding silver for a reason, possibly to become a player in the solar market.
A BRICS currency isn't much different than bitcoin except that it is also a distributed ledger that is intended to have some sort of natural resource backing, including gold, silver and oil.
The US and the West have resources as well. So, what's the reason that half the globe wants to get away from the dollar as the reserve currency? Obviously, the dollar has placed in debtor countries into a disadvantageous position in terms of getting value for value. That same disadvantage is being realized by US citizens who continue to see their own currency and savings degraded by extremely excessive government spending and the Fed's blatant abuse of "money creation".
I haven't heard much detail out of the BRICS conference, but I'm sure that the details will become clearer as the beta test for their "unit" and their new trading platform is put into practice. Have they decided on a percentage for gold backing? I've read that 40% gold backing is a possibility, but that was before their meeting. In any case, these developments are pretty positive for gold.
I'd love to see the US government change course and start emphasizing real productivity instead of playing with the numbers to make them look good. A currency unit based on physical gold & silver wouldn't be any worse than what's going on right now and the data couldn't be faked, at least not as much without being caught in a lie. That's why they invented audits, so long ago - before the days of derivatives and financialization of (almost) everything.
The end result of foreign investors pulling money out of China, and the end result of China divesting of their dollar hoard is the same - those dollars are ending up back in the West, and that simply means that the dollar (which is only a unit of debt) is BEING MONETIZED - which equates to more inflation.
Tariffs won't stop that and will most likely make things even worse - in effect making us all a captive market for the dollar-printers, even more so than now. Obviously changes are coming but it's anyone's guess what directions the changes will take.
I vote for gold and silver. It's a good way to get government accountability under control and also to install a bit more personal responsibility into the citizenry than now exists. My opinion.
I knew it would happen.
Very nice jmski. I like.
Knowledge is the enemy of fear
https://www.ecofinagency.com/finance/1109-45878-nigerias-first-domestic-dollar-bond-oversubscribed-by-180-raising-900mln
As West Africa’s largest economy, Nigeria chose to issue a domestic bond in U.S. dollars rather than the local naira, reflecting the country’s economic difficulties. Nigeria has been grappling with a chronic shortage of foreign exchange, worsened by the ongoing depreciation of its currency. By opting for a dollar bond, the government hoped to attract investors seeking more stability, especially as the naira continues to lose value
I wonder why they issued bonds denominated in US dollars instead or Yuan, or Roubles, or Reals?
Knowledge is the enemy of fear
I wonder why they issued bonds denominated in US dollars instead or Yuan, or Roubles, or Reals?
Of course you know the reason. As GF will never fail to point out, it boils down to reliability and trust. When you rely on man-made constructs such as paper or digital currency, you should know in advance that they will inevitably fail in the long run because of the human management systems that will govern it.
The framers of the US Constitution had it right. Maybe we should revert back to that ancient and outdated old document. I seem to recall that gold and silver were the basis for "money".
I knew it would happen.
because at the time dollars were "top shelf." Unfortunately they continue their move to under the counter.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The only reason anyone would buy the naira is if they tied it inextricably to oil. Enter BRICS.
I knew it would happen.
The article is dated 6 weeks ago. LOL
And here is a story from way back....yesterday. HAHA
https://www.bloomberg.com/news/articles/2024-10-29/nigeria-s-biggest-bank-plans-to-sell-dollar-securities-at-home?embedded-checkout
Knowledge is the enemy of fear
So why they decide to use dollar and not a BRICS currency?
Knowledge is the enemy of fear
.
I can certainly understand the concept of hunting/fishing for the purpose of obtaining food (a person has to eat and I'm not a total vegetarian).
I also occasionally like to go target shooting (at inanimate objects).
But killing a majestic animal for "sport", especially to put it on the wall and not eat it, is totally disturbed (in my opinion).
You could instead put artwork on the wall, like a nice original painting of a bear.
The "taxidermy man" could go into the upholstery/furniture business instead. That would be a lot more useful application of their skills.
Yes, waste.
.
Nothing like a rugged Teddy Roosevelt-type outdoorsman to set the record straight, eh?
And coho thinks that I'm behind the times when I reference John Williams' inflation estimates based on 1970's & 1980's methodology - maybe by a few years behind the times, but not a whole century!
So why they decide to use dollar and not a BRICS currency?
Your Bloomberg article was 6 weeks ago, and the currency was just announced within this past week. The BRICS trading platform is undergoing beta-testing right now and has worked for 2 or 3 large transactions already.
I don't think it will be too long before Nigeria requests entrance into the BRICS, so ask your question in a year. Nigeria's got oil to play with.
I knew it would happen.
I said they filled my belly, didn't I?
God's creations are much better and perfect than man's
Yup, with every generation the tradition and skills are lost. Indeed, a great waste.
Knowledge is the enemy of fear
Don't be jealous.
Yall keep wanting to go back to pre-1913.
2 or 3 transactions? Haha. The dollar does millions every second.
Excellent!!
Knowledge is the enemy of fear
https://www.reuters.com/markets/currencies/chinas-cycle-dollar-hoarding-weakening-yuan-gets-vicious-2024-04-16/
Chinese businesses are hoarding dollars...
Knowledge is the enemy of fear
only because their own currency is deeper in the dumpster. You're being fooled into believing the dollar is not somewhere in that dumpster.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Never said that I felt as you think I do. Just alerting you to the dumpster fire of your favorite group of nations. I wouldn't want you to be fooled.
Knowledge is the enemy of fear
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You ate the bear ?
Those fish don't look like they were eaten.
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But Man's coins are better.
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Sure did.
Is that blasphemy?
Knowledge is the enemy of fear
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But not the fish ?
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Depends on who you ask.
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Nobody here wrote that BRICS were their favoriite.
So why do you insert the "favorite group of nations" claim when you knew that wasn't true ?
It appears to be purely taunting in nature.
I wouldn't want to invest in, work in, or live in, a "BRICS" country. But that doesn't mean that we should ignore them, dismiss them, or assume that what they do won't affect us.
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The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I post all my dead animals over on the dead animal forum. Keeps things on topic here.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Made in America!!!
Knowledge is the enemy of fear
Yields on New China Dollar Bonds Fall Below Treasuries in Debut https://www.bloomberg.com/news/articles/2024-11-13/china-s-dollar-bond-sale-yields-almost-same-as-us-treasuries
But, but, but.....nobody wants dollars, especially the Chinese. LmAO!!!
Imagine the US issuing yuan demoninated bonds. Haha
Knowledge is the enemy of fear
https://www.marketwatch.com/story/trump-threatens-100-tariff-on-the-bric-bloc-of-nations-if-they-act-to-undermine-u-s-dollar-b618cc3b?mod=newsviewer_click
Trump said there is “no chance” BRIC will replace the U.S. dollar in global trade and any country that tries to make that happen “should wave goodbye to America
Knowledge is the enemy of fear
While Trump may seek to punish those abandoning the dollar, BRIC members are already bypassing the dollar when trading among each other. Additionally, because the US has chosen to use the dollar as a weapon there is a line waiting to join BRICs. The days of Trump's idea ended in the middle east when Khadafi met his fate trying to sell oil for gold. Threat to use US military to enforce dollar dominancy will not occur when it comes to superpowers such as China or Russia and likely those under their BRICs umbrella.
So unless we don't depend on BRICs members for our imports (and we do) Trump's threat to punish is idle. And tariffs? They will punish the American buyer of imported goods. All costs are passed on to the consumer unless it's a Costco baked chicken which Costco takes a $30M-40M annual loss on to get buyers in the store. There is a reason those cheap chickens are at the back of the store.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Brazil Takes Extraordinary Measures to Fight Currency Drop https://www.bloomberg.com/news/newsletters/2024-12-17/brazil-s-takes-extraordinary-measures-to-fight-currency-drop
Knowledge is the enemy of fear
BRICs trading partners of Brazil will have no choice but to demand gold or the currency of the trading partner for goods - has no affect on BRICs dismissing the US dollar.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Brazil took extraordinary measures Tuesday to stem a collapse in its currency that’s quickened in recent weeks amid investor fear of soaring budget deficits.
Pffft................the US Congress makes Brazil look like a bunch of pikers. They must be rank amateurs in the budget deficit department.
I knew it would happen.
we are sending it to the short puppet, Putin will take it all from him.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
BRICS Expands With 9 New Partner Countries.
Now It’s Half of World Population, 41% of Global Economy.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong