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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?
1 Upvote

0 Great analysis

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gold, page-127308

Top Stories

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Westgold sets its sights on top five producer status through merger with Karora

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Is oil undervalued?

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

GreenX picks up prospective copper project in Germany

Venture to sniff out high-grade REE targets at Jupiter project, WA

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Cost blow-out for Rook I uranium project sees share plummet for NexGen

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