#de-dollarization

[digitalguap]

Why America is Losing the World to China: A Deeper Understanding

Welcome to our blog post, where we delve into the intriguing topic of why America is losing the world to China. In this thought-provoking piece, we aim to provide you with a deeper understanding of the dynamics at play, exploring various factors that have contributed to China’s rise and America’s decline in global influence. Through examining the economic, political, and cultural aspects, we hope…

[kramlabs]

[basechop]

The Dollar Defender: Donald Trump's Stance on Cryptocurrencies

The Republican candidate for President of the United States criticized the growing popularity of cryptocurrencies in the country, stating that he is vehemently against any form of de-dollarization of the economy. Donald Trump acknowledged that while he generally welcomes innovations in the financial market that enable American citizens to increase their wealth, he cannot allow the substitution of the American dollar with any digital assets. He admitted to being familiar with the allure of "crazy new currencies" and enjoying making money from them, but emphasized his role as a statesman and potentially the future President of the United States. "I understand that certain cryptocurrencies are becoming self-sufficient financial instruments and a new form of money. However, I categorically do not want people to abandon the US dollar in their favor. Currently, the national currency is fighting for global acceptance, and losing the dollar standard would be equivalent to losing in this war. As a possible future president, I cannot allow this," declared the politician. Donald Trump insists that any attempts to transition from an economy supported by the US dollar to one integrated with Bitcoin or any other cryptocurrency should be viewed as an existential threat to America's global dominance. Earlier, Arkham Intelligence announced that the value of digital assets stored in a cryptocurrency wallet belonging to the 45th President of the United States, Donald Trump, exceeded $1 million. Read the full article

[munaeem]

Can BRICS countries replace the dollar?

The potential for BRICS countries to replace the dollar as a dominant global currency is an intriguing topic. The article “Can BRICS countries replace the dollar?” discusses this issue in depth, exploring the economic and geopolitical factors at play. It delves into the rationale behind such a move as well as the potential challenges and implications. The analysis provides valuable insights into…

[alaraxia]

I get my media recommendations the old fashioned way: by watching someone I follow on here go on an unhinged reblog spree of media related content until I eventually decide to go "alright, what's all this then"

[wani-yasir1]

The BRICS Summit: De-dollarization and the Search for a Common Currency

When it comes to international trade and finance, the dominance of the U.S. dollar has been unquestionable for decades. However, in recent years, the leaders of the BRICS nations – Brazil, Russia, India, China, and South Africa – have been increasingly concerned about the risks and challenges associated with this reliance on the dollar. As a result, dedollarization has become a top priority for…

[faultfalha]

Rumors spread like wildfire among the diplomatic circles that South Africa's Foreign Minister had whispered something about the BRICS Bloc's possible expansion. Though no one could confirm what exactly it was, the suspicion that it involved a substantial number of new members was enough to get people buzzing. Of course, that was no surprise, as the BRICS alliance had been gaining momentum for years, ever since it was founded just a short decade ago. What could the foreign minister's statement mean? Speculation ran rampant, and the possibilities were endless. Was it the dawn of a new era, or an ominous sign of things to come? The details remain wrapped in mystery, and only time will tell as to what this sudden announcement could portend. It's only certain that those within the diplomatic circles must've sensed a shift in the winds, and the ripples of the turmoil are sure to spread far and wide. What the future holds is still unknown, and the truth may never be revealed. But as the speculation rages on, one thing is abundantly clear: the BRICS Bloc is about to become something entirely new.

[xtruss]

Smearing BRICS As ‘Anti-US Camp’ Won’t Dent Its Increasing Appeal Around World

— Wang Yi | July 18, 2023

Illustration: Chen Xia/Global Times

At a time when the BRICS mechanism is becoming increasingly attractive, an article by VOA's Chinese site titled "Expansion and de-dollarization, will the BRICS turn into an anti-US camp?" claimed on Tuesday that "China hopes that the expansion of the BRICS should have the consideration of competing with the US," smearing the mechanism with sinister intensions.

By inciting confrontation with a zero-sum mentality, this VOA article attempts to portray the BRICS, an inclusive multilateral cooperation platform that promotes mutual benefit and win-win results, as an exclusive organization. It is also trying to drive a wedge among the countries of the BRICS cooperation mechanism. However, such smears that go against the facts cannot interfere with cooperation among the BRICS countries or undercut the attractiveness of the mechanism.

This round of smearing of the BRICS cooperation mechanism by the Western media has been going on for some time. For example, after the BRICS foreign ministers met in South Africa on June 1 and 2, the US Newsweek website published articles such as "BRICS is evolving from China-Russia dream to potential US nightmare" and "China's and Russia's growing BRICS bloc speeds decline of US influence."

Unlike the earlier despising and bad-mouthing of the BRICS, the US and Western media now show more worries and fears about the rapid expansion of the cooperation mechanism. This change fully reflects the indisputable fact that the BRICS mechanism has gained momentum.

Indeed, as a global governance platform built by large developing economies, it has continuously deepened practical cooperation and increasingly become a model of promoting South-South cooperation. The new vision of global governance advocated by the BRICS mechanism has increasing appeal. 19 new countries have formally or informally approached BRICS to express the interest in becoming members as it prepares to hold its annual summit in South Africa in August, according to media reports.

The economic influence of the BRICS countries is also becoming increasingly attractive to economies around the world amid risks. In 2022, BRICS countries accounted for more than 25.6 percent of global GDP, and the group is expected to contribute more than 50 percent by 2030. The huge market potential, abundant resources and regional cooperation have made the BRICS cooperation mechanism a strong magnet for global investors.

The reason why the cooperation mechanism attracts more and more countries is because this platform meets the needs of countries seeking stable economic development and cooperation against anti-globalization and protectionism and the risk spillovers from the economic policies of developed countries such as the US.

For instance, as for the BRICS' promotion of "de-dollarization" claimed by the American and Western media, all that the BRICS countries are doing is taking legitimate steps to protect their economies from common external shocks caused by the US dollar's hegemony.

In recent years, the US has abused the hegemony of the dollar, exacerbating the risks of the world economy. In this regard, many countries, even US allies, have responded to these risks by reducing their holdings of US debt, promoting bilateral currency agreements and diversifying their foreign exchange reserves.

Now, while economies across the world are hedging the risk of dollar hegemony, the BRICS cooperation mechanism effectively helps member countries deal with the risks brought about by the hegemony of the dollar and the irresponsible monetary policy of the US.

As the BRICS cooperation mechanism is further strengthened, slandering by Western media is expected to intensify. There may be more US and Western media and experts who accuse the BRICS of "wooing Southern countries against the US and the US dollar." Or they will resume rumor-mongering and division tactics to undercut the momentum of the expansion of BRICS.

However, the expansion of the BRICS has become an irresistible trend, which is not only conducive to the sustainable development of the BRICS mechanism but also in line with the interests of developing countries. Faced with the exclusive cliques formed by the US and the West to engage in camp confrontation, developing countries will voluntarily join the open, inclusive, cooperative and win-win BRICS mechanism. The noise made by the US and the West cannot reverse this trend.

— The author is a reporter with the Global Times.

[truthcorridor]

MICHAEL HUDSON ON BRICS DE-DOLLARIZATION, THE BANKING CRISIS, AND MULTIPOLARITY

Watch Now!

[tomluongo]

Episode #113 - Alex Krainer and the First Casualty in the New Oil War

[pratchettquotes]

"You're out late, Mr. Dibbler," he said, politely.

"Ah, Mr. Worde. Times is hard in the hot sausage trade," said Dibbler.

"Can't make both ends meat, eh?" said William. He couldn't have stopped himself for a hundred dollars and a cart load of figs.

Terry Pratchett, The Truth

[digitalguap]

The Dollar Is In DANGER! | Yellen Admits The Obvious, U.S. Hegemony At Risk

So Janet Yellen just had an interview With CNN and she finally admits the Obvious that the sanctions have Backfired and I think we kind of knew This for months now but it's really Telling that the head of the U.S Treasury can no longer hide the truth And let's travel back to early 2022 when Yellen told the world the aim of the Russian sanctions not the sanctions were Engineered to devastate the…

[save-the-villainous-cat]

Goofy and erratic villian with an exasperated and somewhat uptight hero who has a crush on the villain? Maybe the villain says something vaguely flirty on accident and the hero has to pretend they don’t like it (and fails miserably)

“Come on.” The villain grabbed the hero’s hands and pulled them towards the dance floor. Eyes glinting, excitement filled up the villain. “Fight me.”

Utterly unimpressed, the hero just rolled their eyes.

“No interest.”

“That’s not very diplomatic of you. Refusing the enemy’s suggestion to resolve our issues? Come on, it’ll be fun. Just a little bit of combat.” They pulled the hero close, grip tight around them as they led the hero through the song. “Or are you scared?”

“We’re calling combat ‘resolving issues’ now?” Their eyes went through the crowd, concentrating. Professional. Obviously, the hero didn’t have time for their nemesis but the villain didn’t care.

At this point, they took whatever fell into their hands. The hero was a master at hiding, at avoiding people and the villain was not going to let them slip through their fingers that easily.

“It’s like couples therapy for crazy people, don’t you think?” the villain asked. They tried to redirect the hero every time they spotted the supervillain among the many millionaires.

Admittedly, the villain had been on their hands and knees when they’d discovered that the hero was going to be here. They’d begged the supervillain to take them with them and thank god, the villain had been assigned to distract the hero.

It was their favourite activity.

“I can’t argue with that, I suppose.” The hero shrugged. “I am not interested in making a scene, though.”

“But it’s so much fun...” Again, the villain pulled them closer, staring through half-lidded eyes at that heroic face.

One time, the hero’s hard shell had cracked in front of the villain. Ever since, the villain tried to crack it again, not because they wanted to torment the hero but because they needed the hero to know that being imperfect and vulnerable was normal.

The hero forgot that they were human sometimes.

“You’re aware that I am going to crush you like a beetle, right?”

And the villain had seen other people lose their mind to that.

“Oh, I’d love that, baby,” the villain answered. The hero’s face remained emotionless.

“If you think that you can distract me with your cheap tricks, then you’re blithely unaware of the fact that I am the best in this business.”

The hero tried to get out of the villain’s grip but the villain knew the supervillain wasn’t done with their investigation yet. So, the villain had to get creative.

“I know you’re the best, that’s why I want to fight you again. Gives me a kick.” The villain brushed the hero’s ear with their lips. “It feels good.”

“Ugh, you’re annoying.” The hero grabbed the villain’s jaw and turned their head away from them. The villain had to giggle at that.

However. The villain also caught a glimpse of their red ears.

The hero was embarrassed.

“Come on, grumpy…you love me.” They couldn’t help but smirk. Annoying the hero was a hobby the villain would never be able to let go of. Sometimes, they committed a crime just for the hero to show up.

“I’m wasting my time with you.”

Unfortunately, the villain spotted their superior. Giving them a sign to go back to the lair.

“You mean you’re having fun,” they mumbled.

The hero was quiet and looked (as usual) quite dissatisfied as they let the villain guide them. They didn’t seem to be passionate about dancing at all. They didn’t seem to loathe it, either.

“Let me invite you on a date, then. You. Me. Tomorrow. Bring your best weapon,” the villain said. They squeezed the hero’s hip, making the other’s eyes widen and somehow, the hero seemed much more human with their red face and their avoidant gaze.

Almost as if they did like the villain after all.

The villain could live with that, though.

[mcfaucet]

love as long as you can

[munaeem]

The Slow Demise of the Petrodollar: Will It Accelerate Dedollarization?

In recent years, some analysts have voiced concerns about the future of the petrodollar, suggesting that it may be facing a slow death. This speculation comes in response to the Middle Eastern countries’ decision to join forces with China and conduct oil trade transactions in the Chinese currency. For decades, the petrodollar has served as the primary currency for international oil trading.…

[gamanyne]

POV: Siebren & Olivia just finished watching Jojo's Bizarre Adventure

Well

Uhh

UHHHH

Does this count? 🗣 @nebulaickiwi

Pls don't shoot me nebula, I'm still young