[Scythian]

"China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said Wednesday, Beijing’s latest salvo against the almighty greenback.

The deal will enable China, the top rival to US economic hegemony, and Brazil, the biggest economy in Latin America, to conduct their massive trade and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the dollar."
https://theloadstar.com/b-china-brazil-s...e%20dollar.

[Scythian]

.

Soon BRICS stopped using US Dollars, what will happen?

Preparing for major conflicts

[Sticw]

USA will sanction and confiscate stuff. Stop SWIFT for both countries. Lol

Actually don't need such news, just currency swaps can do.

[Scythian]

USA will sanction and confiscate stuff. Stop SWIFT for both countries. Lol

Actually don't need such news, just currency swaps can do.

Europe uses Euro

BRICS uses Bricks

[teaserteam]

Selling Chinese goods and get paid in useless Brazilian notes.  this kind of losing business CCP also wanted to do.  Looks like CCP really angry this time round. Brazilians r laughing all the way to the banks.

[Sticw]

Selling Chinese goods and get paid in useless Brazilian notes.  this kind of losing business CCP also wanted to do.  Looks like CCP really angry this time round.  Brazilians r laughing all the way to the banks.

I think so too...

[Clyde]

Trade is both ways. China can also use the real to buy up their natural resources which Brazil has plenty.

[Basic_Strategy]

As long as global energy prices are still denominated in USD, all this is just window dressing.

If people want to criticise USD for being worthless and arbitrary in value because it's not backed by gold and the US government just prints them out nonstop, the same issue applies even more to any non-USD currency, even the RMB and Brazilian real.

[Scythian]

As long as global energy prices are still denominated in USD, all this is just window dressing.

If people want to criticise USD for being worthless and arbitrary in value because it's not backed by gold and the US government just prints them out nonstop, the same issue applies even more to any non-USD currency, even the RMB and Brazilian real.

.Euro was introduced more than 20 years ago, it's still being used in EU today.

Today, Asean members talking about a single currency.

[Scythian]

.
Main reason is to avoid US sanction, and evading remittance thru US banking system.

Sudan is selling oil in GBP, not USD.

[teaserteam]

Trade is both ways. China can also use the real to buy up their natural resources which Brazil has plenty.

Will need to look what Chinese and Brazilians r trading. Chinese sold mainly tech goods tt needs lots of semiconductors, material such as copper, gold,  Arsenic and platinum.  What Brazilians can offer r iron ore,  oil, corns etc. As a businessman speaking,  this is really both Hua. Goods r sold and trade by businessmen.

[K88 shu shu]

me only trust gold.

[sgbuffett]

All this moves will mess up the trading system instead of keep one trading currency in reserves you now need to keep 20 or.30.

These countries are more than happy to sign such deals with China because now China has to take the Brazil Real which is a currency constantly falling. The Brazilian citizens themselves like to keep USD instead of their local currency.. .



Just like many of Xi's policies to go against US, like belt and road, it hurts China's own interest. Superficially Belt and road looks good but manh countries simply borrowed from China and cant pay back

Similarly many countries sign these agreement with china because they can now off load their weak currencies to China  trade currencies that their own citizens don't want to hold. I believe  China sign with Argentina also and Argentina currency drop by 50% every 6 months. China also sign with Turkey another country with plunging currency. China now has to hold these falling currencies in its reserved.. and will lose value.

US dollar is needed by all these countries because collectively they owe 23T in USD that need to be paid back in USD$. The USD$ not only dominate trade but global debt. The amount compounded over time and there is insufficient USD dollars ...this is worsened by Fed raising rates making USD shortage worse


This means that many countries when they get paid in Yuan will simply convert to USD and put downward pressure on Yuan.

Many of Xi's strategy against US are flawed and have serious blow backs. They look good politically and are cheered on by China fans but hurts China in the long run.

[sgbuffett]

Europe uses Euro

BRICS uses Bricks

If you are a rich man making money in a BRICS country your first instinct will be to move out of these currencies ....why? Because the currency falls over time vs USD and gold.

So they will simply convert to gold or USD to prevent loss.

BRICS is a collection of many weak currency countries. Especially the expanded BRICS the countries added probably volunteers to sign those deals to offload their currencies that nobody wants.

[Scythian]

If you are a rich man making money in a BRICS country your first instinct will be to move out of these currencies ....why? Because the currency falls over time vs USD and gold.

So they will simply convert to gold or USD to prevent loss.

BRICS is a collection of many weak currency countries. Especially the expanded BRICS the countries added probably volunteers to sign those deals to offload their currencies that nobody wants.

Brace for an extended period of dollar weakness as the US economy is set to slow and the Fed will end rate hikes, HSBC says

[Sentinel]

SgBluffett, you stewpig fark

Using local currencies is the transitory stage to ween off USD, this is the gambit

Then checkmate with denomination in RMB

You know how to play good chess or not

My guess is you always lose

If I counter your pawn to king 4 with the Sicilian Dragon, how do you defend?

Will checkmate you in 15 moves!

[Tee tiong huat]

me only trust gold.

Good.

[Scythian]

.
Good try to provide an alternative.

Hope they succeed

[Scythian]

.
There are many EU members by themselves still remain weak economically and financially.

Yet, they are using Euro.

[Tee tiong huat]

.
There are many EU members by themselves still remain weak economically and financially.

Yet, they are using Euro.

Euto 30 +1 more 31 very latest news.

[Tee tiong huat]

US  ... 

[Tee tiong huat]

Euto 30 +1 more 31 very latest news.

This week, we are joined by Bruno Lété, a security and defence specialist with The German Marshall Fund; Tomi Huhtanen, the executive director of The Wilfried Martens Centre; and Teri Schultz, a reporter specialised in NATO and Finnish affairs.

Panellists picked apart the big headlines of the week from Finland joining the NATO alliance to the EU Commission president.

The French president's trip to China. Ursula von der Leyen and Emmanuel Macron were in Beijing trying to dissuade Xi Jinping from getting any closer to Russian President Vladimir Putin.

[Tee tiong huat]

Selling Chinese goods and get paid in useless Brazilian notes.  this kind of losing business CCP also wanted to do.  Looks like CCP really angry this time round.  Brazilians r laughing all the way to the banks.

China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said.

A good show to show to US.

[Tee tiong huat]

US  ... 

Dollar weakness is growing as the US economy is set to slow, even not the Iran and Saudi have Petrodollars for the U.S. Dollar to deal...

https://www.investopedia.com/articles/fo...dollar.asp

[Tee tiong huat]

Dollar weakness is growing as the US economy is set to slow, even not the Iran and Saudi have Petrodollars for the U.S. Dollar to deal...

https://www.investopedia.com/articles/fo...dollar.asp

 China Yuan...  used in Russia.

https://youtu.be/pvPf_DJoHCY

[debono]

 China Yuan...  used in Russia.

https://youtu.be/pvPf_DJoHCY

So many countries are not using USD to trade.............China with Russia, China with Saudi Arabia, China with Brazil............etc...

[Sharexchange]

Loser make friend with Loser...lol...okok no problem...

[Oasis]

As long as global energy prices are still denominated in USD, all this is just window dressing.

If people want to criticise USD for being worthless and arbitrary in value because it's not backed by gold and the US government just prints them out nonstop, the same issue applies even more to any non-USD currency, even the RMB and Brazilian real.

US can print their currency freely, remind me  banana money used by Japanese during world war 2.