Will BRICS replace the dollar as the world's reserve currency?
Comments
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@cohodk said:
I keep hearing about all the "freedoms" we've lost.
JK Rowling Could Be Imprisoned For "Misgendering" Trans People Under New Law
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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@derryb said:
And this is what makes silver a screaming buy.What if you have to "scream" for 5 years before it moves ??
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@blitzdude wrote (on 28 March 2024):
I sold some gutter today. RGDS!
^
|
|HA HA !
The contrarian indicator strikes again:
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@dcarr said:
@blitzdude wrote (on 28 March 2024):
I sold some gutter today. RGDS!
^
|
|HA HA !
The contrarian indicator strikes again:
HAHA, graded Morgans for 2x what I paid for them. For the record still sitting on a pile of SLV. I'll be dumping soon while you're still fumbling around with your fantasy tokens. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
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@blitzdude said:
@dcarr said:
@blitzdude wrote (on 28 March 2024):
I sold some gutter today. RGDS!
^
|
|HA HA !
The contrarian indicator strikes again:
HAHA, graded Morgans for 2x what I paid for them. For the record still sitting on a pile of SLV. I'll be dumping soon while you're still fumbling around with your fantasy tokens. RGDS!
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Your story doesn't add up.
For someone who openly hates silver as much as you do, you always seem to claim that you are sitting on a "pile" of it when the price goes up. Yea, right.
And graded Morgan silver dollars do not really classify as "bullion" - they are collector's items. Same for the items that I manufacture.
.
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@blitzdude said:
For the record still sitting on a pile of SLV. I'll be dumping soon while you're still fumbling around with your fantasy tokens. RGDS!where's the love? Always full of vinegar.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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Yup...privacy. We're tracked everywhere we go. But we still do go anywhere we want and do whatever we want. So "they" know all about us, but have we stopped doing what we do?
What other freedoms have we lost?
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@derryb said:
@blitzdude said:
For the record still sitting on a pile of SLV. I'll be dumping soon while you're still fumbling around with your fantasy tokens. RGDS!where's the love? Always full of vinegar.
Loving lots of things brother. The invitation is still wide open. Come on up to gods country and learn to love life. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?0 -
@cohodk said:
Yup...privacy. We're tracked everywhere we go. But we still do go anywhere we want and do whatever we want. So "they" know all about us, but have we stopped doing what we do?Yes, but only with a mindset of looking over our shoulder
What other freedoms have we lost?
Well, freedom of speech is being regularly attacked.
And the COVID crisis proved to many American workers that their paycheck was dependent on complying with an unproven and FDA rushed "vaccination." They were lost the freedom to choose.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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The burden and curse of a reserve currency....
Currency Angst Goes Global as Strong Dollar Vexes Officials https://www.bloomberg.com/news/articles/2024-04-04/currency-angst-is-going-global-as-strong-dollar-vexes-markets
Excuses are tools of the ignorantKnowledge is the enemy of fear
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PCGS Mod....point noted..... talk about the Dollar and Reserve Currency status is part of the rationale for gold going up.
Just wanted to make sure you were aware of that. Thanks for all you do to keep these Forums flowing....much appreciated.
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Gold reversed with stocks and bonds on Fed Head talk.
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If the US doesn't hold it, they can't steal it.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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Fitch Cuts China Outlook to Negative on Steady Rise in Debt https://www.bloomberg.com/news/articles/2024-04-10/fitch-cuts-china-outlook-to-negative-on-steady-rise-in-debt
Excuses are tools of the ignorantKnowledge is the enemy of fear
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China is having their Minsky Moment. It's just a question of if they take off a few years because of the demograpic implosion now hitting or a few decades.
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Looks like central banks are betting that gold will become the reserve currency.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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@derryb said:
Looks like central banks are betting that gold will become the reserve currency.Gold's been the "reserve" currency for 6,000+ years. Nothing's changed brother. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?0 -
South Africa’s Looming Political Shakeup Has Investors on Edge https://www.bloomberg.com/news/articles/2024-04-11/rand-zar-usd-slumps-as-south-africa-s-electoral-turmoil-spooks-investors
Excuses are tools of the ignorantKnowledge is the enemy of fear
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South Africa’s Looming Political Shakeup Has Investors on Edge
Same as in the US (and most everywhere else).
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.1 -
Some Russian Banks May Have Swapped Gold for Dollars, Report Says https://www.bloomberg.com/news/articles/2024-02-07/some-russian-banks-may-have-swapped-gold-for-dollars-report-says
Excuses are tools of the ignorantKnowledge is the enemy of fear
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Excuses are tools of the ignorant
Knowledge is the enemy of fear
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@cohodk said:
Some Russian Banks May Have Swapped Gold for Dollars, Report Says https://www.bloomberg.com/news/articles/2024-02-07/some-russian-banks-may-have-swapped-gold-for-dollars-report-says@cohodk said:
https://www.reuters.com/markets/currencies/indian-central-bank-likely-buying-us-dollars-via-state-run-banks-traders-say-2024-03-07/Neither move seems to be the result of a preference of US Dollars over gold.
In the case of Russia, it is apparently a loophole to bypass the embargo.
For India, it is an effort to weaken the Rupee against the US Dollar.0 -
@dcarr said:
@cohodk said:
Some Russian Banks May Have Swapped Gold for Dollars, Report Says https://www.bloomberg.com/news/articles/2024-02-07/some-russian-banks-may-have-swapped-gold-for-dollars-report-says@cohodk said:
https://www.reuters.com/markets/currencies/indian-central-bank-likely-buying-us-dollars-via-state-run-banks-traders-say-2024-03-07/Neither move seems to be the result of a preference of US Dollars over gold.
In the case of Russia, it is apparently a loophole to bypass the embargo.
For India, it is an effort to weaken the Rupee against the US Dollar.Sure seems they needed dollars to get what they wanted or desired.
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@cohodk said:
@dcarr said:
@cohodk said:
Some Russian Banks May Have Swapped Gold for Dollars, Report Says https://www.bloomberg.com/news/articles/2024-02-07/some-russian-banks-may-have-swapped-gold-for-dollars-report-says@cohodk said:
https://www.reuters.com/markets/currencies/indian-central-bank-likely-buying-us-dollars-via-state-run-banks-traders-say-2024-03-07/Neither move seems to be the result of a preference of US Dollars over gold.
In the case of Russia, it is apparently a loophole to bypass the embargo.
For India, it is an effort to weaken the Rupee against the US Dollar.Sure seems they needed dollars to get what they wanted or desired.
In the real world EVERYONE wants dollars. It's only the bunker dwelling community with their let's cheer for the destruction of America fantasies that think otherwise. While that crew has a significant presence on this forum in the real world, I would venture to guess the number is somewhere in the neighborhood of 0.001%. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?0 -
In the real world EVERYONE wants dollars.
From what I've been reading about the Fed and the repo market, there is a liquidity crisis now, and dollars are still the predominant world trade currency, so this is still true. For now.
It's only the bunker dwelling community with their let's cheer for the destruction of America fantasies that think otherwise.
It's funny that you should say such a thing, while living outside the city in a part of the country that benefits from government largesse. Why not go all the way and move into DC? Please link a statement by anyone on this forum that illustrates how they are cheering for the destruction of America. Let's see the actual statement! Back up your contentions!
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.1 -
@blitzdude said:
@cohodk said:
@dcarr said:
@cohodk said:
Some Russian Banks May Have Swapped Gold for Dollars, Report Says https://www.bloomberg.com/news/articles/2024-02-07/some-russian-banks-may-have-swapped-gold-for-dollars-report-says@cohodk said:
https://www.reuters.com/markets/currencies/indian-central-bank-likely-buying-us-dollars-via-state-run-banks-traders-say-2024-03-07/Neither move seems to be the result of a preference of US Dollars over gold.
In the case of Russia, it is apparently a loophole to bypass the embargo.
For India, it is an effort to weaken the Rupee against the US Dollar.Sure seems they needed dollars to get what they wanted or desired.
In the real world EVERYONE wants dollars. It's only the bunker dwelling community with their let's cheer for the destruction of America fantasies that think otherwise. While that crew has a significant presence on this forum in the real world, I would venture to guess the number is somewhere in the neighborhood of 0.001%. RGDS!
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Everyone ALWAYS wants money. As long as they can spend it or trade it, they will accept it.
I second the motion. Prove it. Quote any post from someone here who was rooting for the demise of America.
Warning that the financial system might collapse or drastically shift is not rooting for the demise of America.
A financial reset might even be inevitable and also good for America in the long run..
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@cohodk said:
@dcarr said:
@cohodk said:
Some Russian Banks May Have Swapped Gold for Dollars, Report Says https://www.bloomberg.com/news/articles/2024-02-07/some-russian-banks-may-have-swapped-gold-for-dollars-report-says@cohodk said:
https://www.reuters.com/markets/currencies/indian-central-bank-likely-buying-us-dollars-via-state-run-banks-traders-say-2024-03-07/Neither move seems to be the result of a preference of US Dollars over gold.
In the case of Russia, it is apparently a loophole to bypass the embargo.
For India, it is an effort to weaken the Rupee against the US Dollar.Sure seems they needed dollars to get what they wanted or desired.
.
India wants a weaker currency so as to promote exports and deter imports. Another step in the "race to the bottom".
Russia wants more influence in the world. It wouldn't look good paying Western politicians with Roubles.
.
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The BRICs are officially finished.
Argentina is now leaving the bloc; AEP wrote about their lithium plans and they want to be closer to the U.S. and not China.
China is headed for a demographic implosion. The days of easy credit are over and so are the Chinese freebies. If China moves on Taiwan, they're finished in the global financial markets. Nobody is trusting Putin or Xi. Russia is bogged down and broke. Russia has to hope that their people like to eat natural gas, because they won't be able to sell theirs. It'll be a stranded, wasted asset all because Putin is a greedy thug. South Africa has contentions elections; the rand is sinking even with higher gold prices. Brazil has double-digit inflation.
Game Over, as Jerry Seinfeld once said.
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The BRICs are officially finished.
$35 trillion in sovereign debt and $177 trillion in unfunded liabilities in a declining economy is nothing to write home about either.
Got gold?
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.0 -
I consider this report as a rumor until it's corroborated by official statements so take with a grain of salt, but:
Yelling at clouds on pmbug.com
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The BRICS’ big organizational meeting is in October, and we haven’t heard the end of it.
Our recent foreign policy blunders and woke BS have pretty much guaranteed that the BRICS are deeply motivated to get away from SWIFTS and the dollar for the next 2 or 3 generations, maybe longer.
Some additional 30 countries have applied to BRICS, so how much impact will the loss of Argentina have, when their own currency goes defunct every decade or so?
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.0 -
@pmbug said:
I consider this report as a rumor until it's corroborated by official statements so take with a grain of salt, but:That's a Russia propaganda website.
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@jmski52 said:
The BRICS’ big organizational meeting is in October, and we haven’t heard the end of it.Our recent foreign policy blunders and woke BS have pretty much guaranteed that the BRICS are deeply motivated to get away from SWIFTS and the dollar for the next 2 or 3 generations, maybe longer.
Some additional 30 countries have applied to BRICS, so how much impact will the loss of Argentina have, when their own currency goes defunct every decade or so?
So we're debating something that might or might not happen in 75 years? Like climate change? Talk about woke BS.
Excuses are tools of the ignorantKnowledge is the enemy of fear
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October isn't 75 years away. Why are you so intent on twisting what I said?
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.0 -
@jmski52 said:
$35 trillion in sovereign debt and $177 trillion in unfunded liabilities in a declining economy is nothing to write >home about either.But what you don't understand -- what did you major in college, may I ask ? -- is that the long-term structural demographic and economic fundamentals favor the U.S. The Debt/GDP number is easily fixable. China's isn't.
Gold goes higher, yes, but it's nothing to do with U.S. fiscal problems.
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@jmski52 said:
Some additional 30 countries have applied to BRICS, so how much impact will the loss of Argentina have, when >their own currency goes defunct every decade or so?Nobody has "applied" to BRICs, it is an acronym with no dues or membership. It's not even the equal of the G-20.
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But what you don't understand -- what did you major in college, may I ask ?
Irrelevant question, but for the record - Masters in Finance, Minor in Chemistry. 35 years in manufacturing & oil & gas. Real world stuff - not back office finance.
Gold goes higher, yes, but it's nothing to do with U.S. fiscal problems.
Tell me all about it when the bond market seizes up and they unsuccessfully try to print their way out of it.
Nobody has "applied" to BRICs, it is an acronym with no dues or membership.
I'm not so sure that there's no membership status - I believe that you are "uninformed" and it's a moot point anyway.
Do G-20 members pay dues? What's your point - BRICS isn't imaginary and it - along with the Belt Road Initiative and the Shanghai Cooperation Agreement - all of this is going to have a deleterious effect on the dollar - unless Congress & the US Treasury manage to completely destroy the dollar first. It's definitely a race to the bottom.
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.0 -
gold, in some form, will replace the dollar as the world reserve currency. Lot's of oil and other commodities already being traded for gold on the world stage.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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@derryb said:
gold, in some form, will replace the dollar as the world reserve currency. Lot's of oil and other commodities already being traded for gold on the world stage.How much is lots? Please quantify. The oil market is about $3 trillion per year, How much was traded for gold?
Excuses are tools of the ignorantKnowledge is the enemy of fear
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more than one
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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So you dont know and are just regurgitating propaganda. Maybe you're right.....we are turning communist.
Bottom line folks....there is NOT lots of oil being traded for gold. Don't fall for the propaganda
Excuses are tools of the ignorantKnowledge is the enemy of fear
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Sounds like a free economy. Lol
PBOC Earmarks $42 Billion for State Buying of Unsold Homes https://www.bloomberg.com/news/articles/2024-05-17/pboc-to-set-up-300-billion-yuan-relending-public-housing-program
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@cohodk said:
Sounds like a free economy. LolPBOC Earmarks $42 Billion for State Buying of Unsold Homes https://www.bloomberg.com/news/articles/2024-05-17/pboc-to-set-up-300-billion-yuan-relending-public-housing-program
drop in the bucket for what the US spends on bailouts. Sound like a free economy? LOL
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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@derryb said:
drop in the bucket for what the US spends on bailouts. Sound like a free economy? LOLShow us who is getting "bailed out" and how much it costs. Start with TARP.
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@GoldFinger1969 said:
@derryb said:
drop in the bucket for what the US spends on bailouts. Sound like a free economy? LOLShow us who is getting "bailed out" and how much it costs. Start with TARP.
Hypocrisy needs no reason. Lol
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@GoldFinger1969 said:
@derryb said:
drop in the bucket for what the US spends on bailouts. Sound like a free economy? LOLShow us who is getting "bailed out" and how much it costs. Start with TARP.
Let's start with Trillion$ in QE.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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@derryb said:
Let's start with Trillion$ in QE.Open Market Operations are not "bailouts" -- it's what a central bank does.
Now that we have QT, are they STEALING ???
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@GoldFinger1969 said:
@derryb said:
Let's start with Trillion$ in QE.Open Market Operations are not "bailouts" -- it's what a central bank does.
printing money and injecting it into the banking system to stimulate lending is a bank bailout. QE is a hidden central bank subsidy for the banks. As we have learned, QE and the FED's zero interest rate policy resulted in money supply inflation, asset and consumer goods price inflation, and dollar devaluation.
When the cost of open market operations includes destruction of the currency then it's time for the central bank to shutter its doors or to find more competent management.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
1
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