https://en.wikipedia.org/wiki/Reserve_currency We will see how well dollar hold up now that the US have weaponized the dollar. I did not say lose reserve currency status. I said decline of status, currently it is around 58% of world reserve, I fully expect it go down below 50% within a few years. It used to be over 85% at one point. We might see BRICS currency start this year.
You do realize the Wikipedia page talks about *allocated* global reserves right....this doesn't prove the point its declining...... "We might see brics currency" lol this is when you know you drink too much kool-aid. Good God
Remember when China was a laughing stock back in the days? Remember when Japanese and Korea was supposed to be making low quality junks? We can revisit this in say four or five years.
My biggest concern this upcoming election cycle would be any kind of return to a Trump-like world. It was awful when he was president and we're still reeling from its effects. As long as he is in the conversation, I'm voting for any alternative no matter how old because I already know what it's like under some ego maniac wannabe dictator. If it's like that for me, I know it's like that for millions of other people. If there actually candidates that Republicans could bring out that aren't toxic then maybe we can thoroughly discuss Biden and his policies.
Let me ask you a sincere question. China and India just got into a border dispute where hundreds of Indians died. India has tons of land dispute with china. You think India who's never chosen any side in its history is going side with china and create a currency with them? Can you tell me what youtube channel you're watching so I can block them ?
@pirc1 I agree with you that China controls the vast array of our critical supply chains for next generation tech. Our politicians and leaders have been selling us out since the 80s in the name of cheap products and "free trade" aka neoliberal garbage. For the first time in over 4 decades we're launching the biggest onshoring plan in modern history. America isn't "declining" but rather the opposite. We're finally onshoring the most important industries again
It is not a given it would be created, but the Brazil president is pushing for it, India might go along with it, in case you don't realize it, there is a six percent charge for using the dollar for other countries. As for Youtube, we all have our bias, I feel I have seen plenty of different view points. If you want, to, you might search for jeffrey sachs.
Again quit watching youtubers and think rationally to yourself. India who hasnt alligned with any country in its history is somehow going allign with a country that just killed its troops lol. Cmon man! Turn off the propoganda. Sacks is a loser whos been wrong about the dollar for decades. These folks are selling you an agenda for clicks. There will be no BRICS currency. China which had ZERO COVID for months and was throwing people in jail for 3 weeks over a positive covid test is going be leading a global currency? You think the business community would have its money tied up in an dictatorship? The dollar is the reserve currency because business trust the american system. Its not because someone tells them.
And Japan and S Korea haven’t exactly surpassed the US. China certainly has its own major headwinds. First, China would need to stop manipulating its currency to makes it exports cheaper to really challenge the US dollar.
I am not talking surpassing the US. He make it sounds like the idea of a BRICS currency is a laughing matter, I am just saying so were many things considered a joke in the past but turned out to be not the case at a later date.
Sure. I wouldn’t say it’s a joke but BRICs getting together and actually implementing a currency is a tough task. Are countries worried that US will cut them off from the global financial system if they cross certain lines? Sure. Are countries worried about the rapidly rising interest rates from the US central bank? Sure. However a country would need to not act like Russia or Iran or Venezuela to not cross the line. However countries were loving the the decade plus era of rock bottom interest rates.
my understanding (from things I've read) is that Kennedy has been surprisingly impressive in this first week of campaigning. He may continue to surprise
there's definitely a market. how big it is remains to be seen. I suspect that if he becomes too much of a threat, the "old" guard will have him kneecapped. He could be the second coming of St. Barack of O'Bama, but he's white, and that won't be tolerated in the current environment. Spoiler yes, I know Joe is white, but he's the incumbent
It's literally so funny watching right wingers act like democrats are as stupid as their base. We elect people based on electability and winning. I have a better chance of winning the lottery than Rfk who has said on many occasions that vaccines has caused autism and other insane comments. Democratic base is college educated voters and African Americans. Neither side is sympathetic to crazy anti Vax rants. Democrats don't need to knee cap him. The voters aren't morons like Republicans who are bootlicking a failed president who's about to be facing 90+ felony indictments.
Kennedy is a republican trying to cosplay as a Democrat…he’s the male Tulsi Gabbard not sure who is paying him to try this stunt, but we’ll find out eventually
Isn't the funnier thing that @basso thinks democrats are too dumb to see through it. We're not Republicans. We're educated
A BRICS currency would be hard to implement as the Chinese Yuan is not designed for outflows across its borders. Another fundamental question is what would it be based upon or pegged to? Yuan might be the strongest of the bunch, but I doubt India wants to lose control of its Rupees. Then there's the Ruble...lol There are also regional considerations since China's economy is relatively stronger than others. Brazil and Russia heavily relies upon exporting commodities and would be more sensitive to currency shocks. This is not unlike the Euro where Germany ended up with an uneven trade imbalance that caused the PIIGS to squeal, and they are more united than these folks So it's definitely "in the works" and will continue to be. You'll hear it boosted in gold and crypto circles because they're playing upon fears of another Global Financial Crisis. I think the threat of another GFC is real but it's likely more the Dollar Milkshake theory happening than China and friends taking their ball and going home. If another GFC happens, it might just be a replay where China doesn't boost a "BRICS currency" but rather push diplomatic pressure to increase the influence of SDRs or something similar (and not IMF controlled). China knows who owns the system. They thrived in it before and will use official channels even if they're doing other things on the dl. If anything they'll look into the Euro playbook, and strengthen their trade unions/deals despite being a few steps away from war with India... There is the chance where BRICS boost an SDR of their own and try to lure in petrol states like Saudi Arabia, but that still sounds highly doubtful and even more vague than what's being floated online. Maybe Bitcoin solves this...more likely China goes full Digital Yuan and add more strings to their people through money with expiration dates.
