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Kimu

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08/06/24

10:24

Post #: 74227759
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Originally posted by Budweiser54: ↑

The trend is not the US$'s friend
What may have been a safe bet in the past 50 years may not be that safe in the next 50 years.
Whether we like it or not - the way we do and pay for business in the world has evolved and will continue to evolve as organizations like BRICS gather momentum and currencies like the US$ and the euro lose importance.

''Since Western sanctions imposed on Russia in February last year, Moscow has shifted from transactions in dollars and euros, the world's dominant currencies, and is largely locked out of the international banking system.
According to five traders involved, less than 10% of Russia's output of roughly 9 million barrels of oil per day (bpd) is sold in dollars and euros.
The Russian central bank cannot operate in dollars because of sanctions, and while Russian exporters theoretically can use the currency, avoiding it has the advantage of making it harder for the United States and other Western governments to monitor their trade.''

https://www.reuters.com/markets/currency-clashes-sour-russias-oil-trade-with-asia-2023-11-27/#:~:text=According%20to%20five%20traders%20involved,sold%20in%20dollars%20and%20euros.

Those sanctions are really working for the west

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BRICS is a joke!

The USD may weaken in time and for trade purposes
an alternate blockchain payment system similar to the system BHP and Rio Tinto use for trade with China.

It certainly won’t be a gold backed system which restrains economies to run large deficits and increase money supply and restricts weaker currencies to be competitive and generate trade surpluses . Gold is good for countries to have an in times of high inflation.

Maybe a trade in crypto not pinned to a countries currency?
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gold, page-127308

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