BRICS currency

The_Krakenite said:
On the one hand, I would like to see BRICs work, on the other hand, we don't because Russia and China would be the worst of the big players in that system.

As much as we have almost lost all free speech in America (Elon is trying to still hold Twitter platform as a free-for-all in speech), Russia and China don't even have a possibility of an Elon type of white-knight to step in. You are imprisoned as soon as you post anything against the government consensus. Plain and simple. Zero freedoms.

And as for corrupt governments, as corrupt as the US is... Russian government gangsters make even Pelosi look like an angel in comparison (ok, so maybe I wouldn't quite ever count her as an angel).

A Russian lays a pipeline, and a German lays the same unit of measurement of a pipeline. The cost that Russia charges is 3x the German rate.

Why? Not because of currencies, or soil changes... it's not because Russia needs to pay pensions for its workers (in fact, Russia pays them LESS!).

The reason the cost is 3x as much, is that Putin SAYS it is, and the cost is inflated. With the excess off the standard rate going right into the private accounts of Putin and his Oligarch buddies. No questions asked. Even the Italians in the roaring 20s didn't dream of skimming so much off the top!

And that, is just ONE area of the never-ending corruption schemes in Russia. They fucked up their communism with widespread corruption, and they are doing the same in capitalism now.

If a person gets lucky and finds themselves a CEO of a blue-chip company in Russia, guess what happens? The government drafts some new charges, or laws, and suddenly one of Putin's friends comes along and legally takes all the shares away (and gives them to himself, not the people).

You now see why the army is a complete joke/mess over there. This type of corruption is non-sustainable. Same mistakes, different government.
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not by design but now brics is an counterweight to g7, which is running out of its usefulness. italy is in g7, what industries do they have? and kick out of russian from g8.

brics provides a mechanism to avoid sovereign defaults to imf or dollar debt is one important milestone. anyone in the group can borrow china’s usd reserve to pay off debts when due.

putin and xi are smart politicians, even if they are gone, the system will survive, unless of course, we go to a world war and must win to reset the dominance.
 
-unless of course, we go to a world war
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You are saying we are not? So why is the West bankrupting itself printing more paper that it can't even support... sending it all to the 'war effort'? :confused:
 
mervyn said:
i reckon barter trades are a good system, you have to make something, otherwise you are starve to death. paper money is no good.
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%%
Good points.
I always trade with metals dealer + get paid in Fed Reserve Notes.
US money has included\
copper coins,
nickle coins,
silver coins ,
+ gold coins,
buckskins[aka bucks]
beaver skins,
copper coins the size of US silver dollars,
beads,
confederate money ,
Fed Reserve notes,
silver certs.......................:caution::caution:
 
mervyn said:
Last Monday, Argentina paid the IMF a maturity of $2.7 billion dollars with yuan from a currency swap with China and a bridge loan of $1 billion from the Andean Development Corporation (CAF).

https://www.barrons.com/news/argentina-uses-775-mn-qatar-loan-to-repay-imf-9632b9c1


That's BRICs. IMF is just a pure evil.

Swap line ties to physical trades, while IMF is using loaning out in USD and takes cash settlement.
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Do you know that China's currency is tied to the US dollar? Multiple currency trading is nothing new. It frequently takes place. The question of "in what currency" would you place your benefits in yuan denominated assets? quite unlikely. Will China demand India's submission? In my opinion, no.

Only the United States can withstand the massive imbalance in international trade. If China decides to take the position of the United States, it will have to completely liberalize its market (which won't happen) and be content with a permanent trade imbalance (which is equivalent to suicide for a nation like China).

The BRICS are only a group of dishonest nations and charlatans attempting to compete in the major leagues (Europe or the Anglo-Saxon world).
 
leonel said:
Do you know that China's currency is tied to the US dollar? Multiple currency trading is nothing new. It frequently takes place. The question of "in what currency" would you place your benefits in yuan denominated assets? quite unlikely. Will China demand India's submission? In my opinion, no.

Only the United States can withstand the massive imbalance in international trade. If China decides to take the position of the United States, it will have to completely liberalize its market (which won't happen) and be content with a permanent trade imbalance (which is equivalent to suicide for a nation like China).

The BRICS are only a group of dishonest nations and charlatans attempting to compete in the major leagues (Europe or the Anglo-Saxon world).
More...

yuan ties to a currency basket, percentage varies depending on trade volume and amounts, not exclusively to usd.

second assertion is a wash, they already run a massive surplus with almost all nations in trades, just their reserves are in usd mostly, things can change right quick. for example, if all other brics are defaulting imf or usd debts in the next financial crisis, like in the scale of 1997, china usd reserves would be drawn quickly and swap into other currencies as collateral. all usd wash back to your hands and can’t buy nothing tangible.

these folks already learned that we only print paper to exchange their real goods, our paper is not worth much in reality. no one else would want a twin deficit problem because it is not sustainable. yellen says we will be 51 trillion in debt by 2035, not a joke.

the problem of china is that they are too big and self sufficient for centuries. they changed currency from copper to silver in late 1600s because silver were too much from the spanish, later the brits had deficit and a war with them because the brits ran out of silver to pay for their goods.

sands are shifting, credit is to facilitate trades but now is a ponzi scheme.
 
The_Krakenite said:
On the one hand, I would like to see BRICs work, on the other hand, we don't because Russia and China would be the worst of the big players in that system.

As much as we have almost lost all free speech in America (Elon is trying to still hold Twitter platform as a free-for-all in speech), Russia and China don't even have a possibility of an Elon type of white-knight to step in. You are imprisoned as soon as you post anything against the government consensus. Plain and simple. Zero freedoms.

And as for corrupt governments, as corrupt as the US is... Russian government gangsters make even Pelosi look like an angel in comparison (ok, so maybe I wouldn't quite ever count her as an angel).

A Russian lays a pipeline, and a German lays the same unit of measurement of a pipeline. The cost that Russia charges is 3x the German rate.

Why? Not because of currencies, or soil changes... it's not because Russia needs to pay pensions for its workers (in fact, Russia pays them LESS!).

The reason the cost is 3x as much, is that Putin SAYS it is, and the cost is inflated. With the excess off the standard rate going right into the private accounts of Putin and his Oligarch buddies. No questions asked. Even the Italians in the roaring 20s didn't dream of skimming so much off the top!

And that, is just ONE area of the never-ending corruption schemes in Russia. They fucked up their communism with widespread corruption, and they are doing the same in capitalism now.

If a person gets lucky and finds themselves a CEO of a blue-chip company in Russia, guess what happens? The government drafts some new charges, or laws, and suddenly one of Putin's friends comes along and legally takes all the shares away (and gives them to himself, not the people).

You now see why the army is a complete joke/mess over there. This type of corruption is non-sustainable. Same mistakes, different government.
More...
America had since the 60s a demographic replacement from 95% to barely 60%, who is the joke country ?
 
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