SG Talk

The USD keep going up after the 'demise'

There was never a 50yr old agreement to begin with.
The Saudi will continue to ask for USD because no other current has assets they can buy that is as large as the amounts of assets denominated in USD. With USD you can buy Apple stock ...there is 3 trillion worth.if they get the money in SGD ...what are theh going to buy with the money. If they get it in Yuan...what van they invest in that is large and attractive?

For another country to be the dominant reserve currency it has to have massive capital markets and banking sector that is free and open. Today only US and EU has such size and scale.

https://www.morningstar.com/news/marketw...-heres-why

 
If you say the 1974 agreement between Saudi and US had nothing to do with currency, then, what had it to do with?   

.

There is no report from Washington about Saudi PetroDollar. Something is missing..

the Jews own the Federal Reserve................the currency market is dominated by Jewish banks..........these banks are the shareholders of the FED.........

So where is the crash of USD???

It is going up instead  it just tough a new high for the year vs the Yuan

For China fan boys you can promote China EV, you can say Chjna streets are safer, You can say China has less crime and so on....but I am rather tired of "de dollarisation" fake news. Because it has zero truth.


Us dollar is used in 88% of international transactions. Most of the money owed in this world is demonominated in US dollar debtor countries like Argentina and Brazil need to find US$ to service their debt even as they join BRICS.

One day USD will implode and die but not in next few yrs or next few decades. There is just no substitute.

As for the Yuan, it is not even an open currency as the Chinese govt ring fence and called the onshore RMB which cannot be freely exchanged due to currency control. You need  large open markets and only the US has it.

It's a myth

(17-06-2024, 08:24 AM)webinarian Wrote: [ -> ] 
If you say the 1974 agreement between Saudi and US had nothing to do with currency, then, what had it to do with?   

.

Why don't you dig it up and tell us?  My finding is there was an agreement in 1974 for US to buy oil from Saudi.  The agreement is like any other agreement. The currency specified was US dollar and not Saudi Riyal.  "Oil has always traded in non-dollar currencies ... Saudi riyal remains pegged to the US dollar, and its stock of financial assets are dollar-focused."  As Saudi is a country and the oil belongs to Saudi,  how they want to sell their oil to other nations is non of US's business.

Cannot be... Cannot be... but.....but.... petrolyuan! LOLOLOLOLOL!

Wumao sure not happy about this LOLOLOLOL

Meanwhile third world china is on their death bed becoming the pariah of the world LOLOLOLOL

relax lah... wait lah

gan chiong spider.

Wait for October when BRICS meet

The switch out from USD is a consequential timeline and USA govt holds the blame for weaponizing USD

If PAP is still sleeping, will forever be held by the balls by USA

There is no reason any country will stick to USD after it was weaponized unless you're as weak and puss.y like PAP

Anyway, Sinkiepoor under PAP cannot join BRICS because Russia has laid out the condition to join is not to have sanctioned Russia before and that condition cannot be fulfilled as PAP had sanctioned Russia for Ukraine war

This is how near-sighted and arrogant PAP is

Sinkiepoor is truly finished!

You believe a lie can last for 50 years.

Dont laugh!
多行不义必自毙lah.

https://www.nasdaq.com/articles/how-woul...dated-2024#

The US dollar would not have become a global currency just after the WII if it was not backed by Gold. When Nixon came into power in 1971, he unilaterally canceled the direct international convertibility of USD to gold. USD continues to be a global currency after that.

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

Therefore, for BRIC to nominate or create another global currency, it would have to go through a similar path as the USD. As BRIC is known to start up as an organisation to champion Western power, most likely they are linked together by the benefits of cheap Russian oil rather than other benefits. If that being the case, it would be unlikely for them to agree to use a common currency without any strong backing such as gold or other precious metals.

This heat map shows where the Golds are in 1Q 2024.  Nearly 3/4 of them are in the hands of the countries in Europe and Northern America.  Unless some of these countries prepare to join BRICs,  it would be difficult for any currency to be nominated as the accepted reserve currency.  They have to be back up Gold or something.

https://www.gold.org/goldhub/data/gold-r...by-country

Whenever I saw this article, it reminded me to put in extra effort to change my stuck money.