Petroyuan Coming? End of the dollar?

[Xeon]

This is why the world needs Trump back. Especially to prevent a war here in Asia. The world demands Trump to be back asap to save humanity.

 

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[Kevin88660]

This is why the world needs Trump back. Especially to prevent a war here in Asia. The world demands Trump to be back asap to save humanity.

Unlikely to happen since U.S. Navy more than once disobeyed higher orders from Washington to fire provocative shots at the Chinese fleet or bases in the South China Sea during stare-downs.

The message I am getting is that men and women in uniforms feel that this is just a job and there is no honor in risking life to die for causes, that in their pov, are clearly unrelated to defending the homeland.

https://www.washingtonpost.com/politics/2021/09/14/peril-woodward-costa-trump-milley-china/

View: https://www.youtube.com/watch?v=J8uKCCs44oY

 

[Freddy270291]

This is why the world needs Trump back. Especially to prevent a war here in Asia. The world demands Trump to be back asap to save humanity.

Dem neocons are trying everything to not make him run for elections, because if he runs he will probably win (unless of other frauds during the voting process).
I don't sympatize for him (because I am not american, so not following the campaigns), but if I compare his previous 4 years to Biden's period I see he did much better.. the old man in power now is a shame, honestly.

 

[Kevin88660]

Dem neocons are trying everything to not make him run for elections, because if he runs he will probably win (unless of other frauds during the voting process).
I don't sympatize for him (because I am not american, so not following the campaigns), but if I compare his previous 4 years to Biden's period I see he did much better.. the old man in power now is a shame, honestly.

This thread could also be "Grandpa Joe's de-dollarization Progress Thread". He has made tremendous progress this year, compared to the action faking of the previous predecessors.

 

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[Kevin88660]

The anti-dollar drive spearheaded by Asia has spread to Europe, with France growing sour on the greenback's dominance. Here are 6 rising threats to the buck's supremacy of global trade.

King dollar's dominance of global trade faces new threats in the form of currency projects led by countries including China, Russia, India and even France.

markets.businessinsider.com

In an interview with Politico, France's Macron urged that Europe must reduce its dependence on the "extraterritoriality of the US dollar."

 

[Xeon]

BRICS New Development Bank breaks away from US dollar – Cryptopolitan

In a bold move that challenges the US-dominated World Bank, the New Development Bank (NDB), established by the BRICS group, embraces local currencies for its loans. NDB President Dilma Rousseff has confirmed that the bank plans to provide 30% of loans in local currencies of its member nations...

www.cryptopolitan.com

 

[Kevin88660]

Argentina to pay for Chinese imports in yuan rather than dollars

Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country's dwindling dollar reserves.

www.reuters.com

 

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[Xeon]

Argentina to pay for Chinese imports in yuan rather than dollars

Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country's dwindling dollar reserves.

www.reuters.com

If a vast majority of the world's countries eventually trade in yuan, doesn't that mean that China will obtain the same power as the US in that they can print infinite money and export inflation to the rest of the world including us? Lol

 

[Kevin88660]

If a vast majority of the world's countries eventually trade in yuan, doesn't that mean that China will obtain the same power as the US in that they can print infinite money and export inflation to the rest of the world including us? Lol

Eventually that day would come, many decades later….

 

[Kevin88660]

BoT to explore yuan-baht settlement for Thai-Chinese trade - Thailand Business News

According to an ADB report, the majority of the significant Southeast Asian emerging markets' outstanding foreign debt securities have been denominated in dollars for the past few years.

www.thailand-business-news.com

 

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[BizyDad]

Just want to point out that since this thread started, the dollar has strengthened vs the major currencies except the euro.

Granted it has only been a few months, hard to say the "long game" has been settled, but I keep hearing about countries defaulting on their Chinese loans, and local Chinese provinces defaulting on their local bonds and asking Shanghai for $, exports are down, real estate is down, and China's money printer worked harder than ours...

So is this really what chess looks like?

I know some transactions are being handled away from the dollar, thus less transactions are dollar denominated, but is anyone really supplanting the dollar? It seems more like countries keep trying to force their own currency rather than everyone agreeing on a new reserve currency.

 

[illmasterj]

Something I've never quite understood when people discuss how "the Yuan will take over" or "BTC is the future, USD is dead" is, isn't the ultimate solution to own assets? I read a book called "The Alpha Strategy" years ago that more or less described this.

Say you own 1000 shares in a global index fund. Today that may be valued in USD, but if the Yuan takes over, it's just valued in RMB. Same assets, different method of valuing them. Similarly if you buy a McLaren for USD500,000 and somehow BTC takes over, now you have a BTC18.81.

Is this a correct line of thinking?

(Obviously what this doesn't take into account is the economic impact of these massive changes. If the RMB becomes the world reserve currency, you may need to ship that McLaren to China when it comes time to sell it, in order to realize that value...)

 

[Kevin88660]

15th BRICS Summit: Multiple challenges and opportunities await members

The 15th BRICS Summit is expected to take place in the South African city of Johannesburg in August 2023. This will be the first in-person summit to be held after 4 years, the last three having been held under the chairmanship of Russia, India and China in virtual format on account of the...

www.deccanherald.com

 

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[Kevin88660]

View: https://m.youtube.com/watch?v=JjTc7ScD-_Y


Biggest Hype on Dedollarisation recently is the potential launch of a BRICS currency or gold back currency for international trade settlement.

 

[Kevin88660]

View: https://m.youtube.com/watch?v=qmYteyr7ibY


2 weeks count down to BRICS conference in South Africa.

Meanwhile China’s northeast is suffering from a flood coincidentally (once in a thousand year event in sudden increased rainfall).

 

[Kevin88660]

India makes first crude oil payment to UAE in local currency

The country's primary refiner, Indian Oil Corporation (IOC), executed a payment in rupees for a million barrels of oil purchased from Abu Dhabi National Oil Company (ADNOC).

www.indiatoday.in

View: https://www.youtube.com/watch?v=hGU93q64FI8


Most likely event coming is more global trade being settled in Rupees, Rubles and Yuan as these countries are large liquid gold exchange market trading in their domestic currencies.

See a one-year interval between setting up the gold exchange market and getting their currency recognized.

 

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[amp0193]

Haven't seen it mentioned in this thread.

Great book I've read on the subject: Ray Dalio - Principles for Dealing with the Changing World Order. No bullshit. No conspiracy theories. Just history and first principles.

Summary here: The Changing World Order Summary - Ray Dalio - Aure's Notes

Highly recommend a read to anyone interested in the subject.


I mostly follow @heavy_industry 's advice though.... 90% in the day to day, 10% peeking up at what's happening out there.

Maybe my biggest takeaway from the book: Change happens gradually.... then suddenly.

So take some chips off the table while you can.