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Started By
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China, Russia, India now setting up separate banking standards.
Posted on 3/10/22 at 6:40 am
Posted on 3/10/22 at 6:40 am
Coming off the US dollar and US systems. They are replacing visa and Mastercard with a different pay system.
You asked for it, you got it… Joe Biden.
You asked for it, you got it… Joe Biden.
21
Posted on 3/10/22 at 6:41 am to Smokeyone
It sounds like the Fed knows it is coming too.
Posted on 3/10/22 at 6:43 am to Smokeyone
Mexico is joining them too.
Hundreds of thousands of Chinese, Russians, and Indians visit Mexico every year.
Hundreds of thousands of Chinese, Russians, and Indians visit Mexico every year.
Posted on 3/10/22 at 6:43 am to Smokeyone
I know next to nothing about international banking, but it seems like this is bad for globalism.
I realize it may have some negative blowback here. Not sure what that might be. But I know that I don't like globalist frickers. So, this is a good thing?
I realize it may have some negative blowback here. Not sure what that might be. But I know that I don't like globalist frickers. So, this is a good thing?
Posted on 3/10/22 at 6:47 am to Smokeyone
Congrats to the US for bringing them all together. Imagine if we could all take our money out of Western "banking".
Posted on 3/10/22 at 6:48 am to SECSolomonGrundy
The fact of the matter is we exported so much of our manufacturing and we only enjoy the quality of life that we do because of hegemony of the dollar.
Americans are just seeing the beginning of the drop in their quality of life I think. The dollar is going to lose a tremendous amount of its value.
Americans are just seeing the beginning of the drop in their quality of life I think. The dollar is going to lose a tremendous amount of its value.
Posted on 3/10/22 at 6:48 am to LuckyTiger
Mexico joins them and it spurs the government to start cracking down on cross-border transfers over $500.
The senator from Oregon already let the cat out of the bag that DHS is doing this.
The senator from Oregon already let the cat out of the bag that DHS is doing this.
Posted on 3/10/22 at 6:54 am to teke184
That development will be interesting to watch.
Posted on 3/10/22 at 6:55 am to SECSolomonGrundy
It’s a schism in the world financial system. And that is going to see the dollar devaluation sooner rather than later. That means a significant correction is coming. We could stabilize the market preemptively by raising the prime rate a point every 9 months til we hit 6-7 points. That would slow the economy in stages instead of just crashing it all at once.
loans/ credit cards with good credit would be at 9-10% interest in a few years but savings accounts would be at 8-10%. So it would hurt folks short term but we would come out stronger by far. The credit industry would collapse as we know it. And that’s not a bad thing.
loans/ credit cards with good credit would be at 9-10% interest in a few years but savings accounts would be at 8-10%. So it would hurt folks short term but we would come out stronger by far. The credit industry would collapse as we know it. And that’s not a bad thing.
Posted on 3/10/22 at 7:09 am to SECSolomonGrundy
quote:
I know next to nothing about international banking, but it seems like this is bad for globalism.
Just the opposite. Getting rid of the USD as the world's reserve currency is a major step toward Globalism. Moreover, the Chinese are already going down the road to installing a Chinese Central Bank digital currency which will eventually eliminate cash. It is being tested in some of their provinces. This, combined with their social credit scoring system, will allow the Chinese government to control all spending. This is the Mark of the Beast stuff that will be implemented in the coming years.
Posted on 3/10/22 at 7:11 am to Ross
quote:
Americans are just seeing the beginning of the drop in their quality of life I think.
But on the plus side...No mean tweets. And at the end of the day, isn't that what really matters?
Posted on 3/10/22 at 7:13 am to Smokeyone
Bold strategy. I've seen it speculated many many times that China is currency manipulating Champs of the world. Seems like we have taken a shot at that title since covid though
Posted on 3/10/22 at 7:14 am to LuckyTiger
quote:
Mexico is joining them too.
Hundreds of thousands of Chinese, Russians, and Indians visit Mexico every year.
Mexico has no impetus to do this. They have tourists from every country and these are banking standards and networks which are interoperable anyway.
Posted on 3/10/22 at 7:17 am to SECSolomonGrundy
quote:
bad for globalism.
Globalism will find a way.
US exemption from economic collapse because the world lives on the petrodollar, not so much.
Posted on 3/10/22 at 7:19 am to DownshiftAndFloorIt
They manipulated (undervalue) for exports. As their population age, they will let it appreciate.
Posted on 3/10/22 at 7:22 am to TNTigerman
The end of petroleum based valuation of the USD would destroy our economy and likely lead to a world war.
This post was edited on 3/10/22 at 7:23 am
Posted on 3/10/22 at 7:26 am to Smokeyone
That’s a lot of humans
Posted on 3/10/22 at 7:26 am to tide06
quote:
The end of petroleum based valuation of the USD would destroy our economy and likely lead to a world war.
Ask Saddam and Quadifi how that worked out for them.
Posted on 3/10/22 at 7:27 am to teke184
quote:
Mexico joins them and it spurs the government to start cracking down on cross-border transfers over $500.
The senator from Oregon already let the cat out of the bag that DHS is doing this.
So now Russia is a puppet of...Trump?
Posted on 3/10/22 at 7:28 am to LuckyTiger
Don’t forget Iran, Venezuela and Saudi Arabia because the goal is to have a barrel of oil traded with the yuan not USD
This post was edited on 3/10/22 at 8:50 am
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