China and Brazil strike deal to ditch the US Dollars - Printable Version
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+--- Thread: China and Brazil strike deal to ditch the US Dollars (/Thread-China-and-Brazil-strike-deal-to-ditch-the-US-Dollars)
China and Brazil strike deal to ditch the US Dollars - Scythian - 02-04-2023
"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-strike-deal-to-ditch-dollar-for-trade/#:~:text=China%20and%20Brazil,through%20the%20dollar.
RE: China and Brazil strike deal to ditch the US Dollars - Scythian - 02-04-2023
.
Soon BRICS stopped using US Dollars, what will happen?
Preparing for major conflicts
RE: China and Brazil strike deal to ditch the US Dollars - Sticw - 02-04-2023
USA will sanction and confiscate stuff. Stop SWIFT for both countries. Lol
Actually don't need such news, just currency swaps can do.
RE: China and Brazil strike deal to ditch the US Dollars - Scythian - 02-04-2023
(02-04-2023, 05:52 AM)Sticw Wrote: 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
RE: China and Brazil strike deal to ditch the US Dollars - teaserteam - 02-04-2023
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.
RE: China and Brazil strike deal to ditch the US Dollars - Sticw - 02-04-2023
(02-04-2023, 06:44 AM)teaserteam Wrote: 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...
RE: China and Brazil strike deal to ditch the US Dollars - Clyde - 02-04-2023
Trade is both ways. China can also use the real to buy up their natural resources which Brazil has plenty.
RE: China and Brazil strike deal to ditch the US Dollars - Basic_Strategy - 02-04-2023
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.
RE: China and Brazil strike deal to ditch the US Dollars - Scythian - 02-04-2023
(02-04-2023, 07:28 AM)Basic_Strategy Wrote: 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.
RE: China and Brazil strike deal to ditch the US Dollars - Scythian - 02-04-2023
.
Main reason is to avoid US sanction, and evading remittance thru US banking system.
Sudan is selling oil in GBP, not USD.
RE: China and Brazil strike deal to ditch the US Dollars - teaserteam - 02-04-2023
(02-04-2023, 07:11 AM)Clyde Wrote: 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.
RE: China and Brazil strike deal to ditch the US Dollars - K88 shu shu - 02-04-2023
me only trust gold.
RE: China and Brazil strike deal to ditch the US Dollars - sgbuffett - 02-04-2023
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.. .
![[Image: H7nIBK1.jpg]](https://i.imgur.com/H7nIBK1.jpg)
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.
RE: China and Brazil strike deal to ditch the US Dollars - sgbuffett - 02-04-2023
(02-04-2023, 05:59 AM)Scythian Wrote: 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.
RE: China and Brazil strike deal to ditch the US Dollars - Scythian - 02-04-2023
(02-04-2023, 08:50 AM)sgbuffett Wrote: 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
RE: China and Brazil strike deal to ditch the US Dollars - Sentinel - 02-04-2023
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!
RE: China and Brazil strike deal to ditch the US Dollars - Tee tiong huat - 03-04-2023
(02-04-2023, 07:54 AM)K88 shu shu Wrote: me only trust gold.
Good.
RE: China and Brazil strike deal to ditch the US Dollars - Scythian - 03-04-2023
.
Good try to provide an alternative.
Hope they succeed
RE: China and Brazil strike deal to ditch the US Dollars - Scythian - 03-04-2023
.
There are many EU members by themselves still remain weak economically and financially.
Yet, they are using Euro.
RE: China and Brazil strike deal to ditch the US Dollars - Tee tiong huat - 05-04-2023
(03-04-2023, 11:51 AM)Scythian Wrote: .
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.
RE: China and Brazil strike deal to ditch the US Dollars - Tee tiong huat - 06-04-2023
US
... 
RE: China and Brazil strike deal to ditch the US Dollars - Tee tiong huat - 08-04-2023
(05-04-2023, 10:45 AM)Tee tiong huat Wrote: 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.
RE: China and Brazil strike deal to ditch the US Dollars - Tee tiong huat - 08-04-2023
(02-04-2023, 06:44 AM)teaserteam Wrote: 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.
RE: China and Brazil strike deal to ditch the US Dollars - Tee tiong huat - 08-04-2023
(06-04-2023, 03:34 PM)Tee tiong huat Wrote: 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/forex/072915/how-petrodollars-affect-us-dollar.asp
RE: China and Brazil strike deal to ditch the US Dollars - Tee tiong huat - 08-04-2023
(08-04-2023, 07:07 PM)Tee tiong huat Wrote: 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...China Yuan...
https://www.investopedia.com/articles/forex/072915/how-petrodollars-affect-us-dollar.asp
used in Russia.https://youtu.be/pvPf_DJoHCY
RE: China and Brazil strike deal to ditch the US Dollars - debono - 08-04-2023
(08-04-2023, 08:47 PM)Tee tiong huat Wrote: China Yuan...
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...
RE: China and Brazil strike deal to ditch the US Dollars - Sharexchange - 08-04-2023
Loser make friend with Loser...lol...okok no problem...
RE: China and Brazil strike deal to ditch the US Dollars - Oasis - 08-04-2023
(02-04-2023, 07:28 AM)Basic_Strategy Wrote: 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.