Inflamed_Hemorrhoid t1_je1ark6 wrote
Reply to comment by EyeLikeTheStonk in Rupee races to replace dollar: Egypt latest entrant to club of countries wanting to trade in INR by CoolestGuyOnSaturn
Except all your examples involves buying USD which none of those countries even want so why would they care about that comparison? They don't care about the yank stock market either. These things only have value to people who want to trade with the US.
Egypt needs 3 Egyptian Pounds to buy 1 US Dollar, and less than that to buy 1 Indian Rupee. So going by your logic, its better for Egypt to buy Indian Rupees than USD. They get more bang for their buck in India, just like everyone else does, not to mention all the moral and political value that comes along with undermining the US.
elshankar t1_je1brc6 wrote
Not if it takes 82 rupees to buy something that costs 1 US dollar
CopyMonet t1_je2j3i9 wrote
Yes, you are correct as far as I have read. I just want to add some things. The exchange rate development between USD and IND is not as important for Egypt as the exchange rate development between IND and EGP, if that is their more important trading partner. Also the exchange rate to USD is not the same as the development of prices of Indian export goods. Just because the INR is losing value in comparision to USD, does not mean that you necessarily get less goods for the same amount from India. The USD might even be useless to you, if you can not pay the things you want to buy with it. As the arcticle says they faced "tremendous difficulties" (whatever that means) to make that mentioned trade in USD. It might not be possible the change your EGP to USD, or to change your USD to INR, or to pay in USD, or to obtain enough USD at all. However it will surly be possible to pay an indian company with INR. Tbh I don't know much about either of these countries, but India might not need USD now or in the future. Even if India has to subsidize it currently, it may be worth it for them to get rid of the USD and stop accepting it at all. I would also not make the mistake to think that the past is always representive for the future. Decision like these will give the INR more stability. I would also try to exclude third party currencies from my trades. Nothing is more valuable than an accepted currency that you control.
TheGreatOneSea t1_je2s3t3 wrote
India will keep taking USD, because trade with the US is over $100 Billion USD: we're talking, "India must disband its entire military to offset the loss" levels of money. And that's assuming the US doesn't pressure others to avoid the INR, which would tank its value from the uncertainty alone, at least for a while.
It makes far more sense for India to just subsidize Egypt by allowing it to use INR to buy goods cheaper than with USD, rather than not taking USD.
CopyMonet t1_je2w400 wrote
Yeah, that might be true. As said I don't know that much about them. I just meant potentially.
Inflamed_Hemorrhoid t1_je1d2dn wrote
Again, you've missed the point where none of them want anything from the US lmao They aren't buying stuff from India in US dollars. Nobody cares how much a US dollar is, they don't want a US dollar or anything in US dollars.
You know how money works, right? Do I need to explain how shopping works and how things are bought?
elshankar t1_je1e19b wrote
I guess I do need some explanation of how shopping works, please tell me how something worth 1 USD would also cost 1 Indian Rupee.
You do realize that the price of things in Indian Rupees in India are affected by the value of the US dollar, right?
Inflamed_Hemorrhoid t1_je1fs60 wrote
Even a simple google search would tell you its 241% more expensive in the US and you could have saved yourself the embarassment. But fine, here's an easy example your Yank brain should be able to understand.
An Egyptian buying a pair of jeans from the US would spend $46.45 USD or 3,818.48 Rupees which turns out to be 1435.31 Egyptian Pounds.
Buying that same pair of Jeans in India costs $27 USD or 2,219.48 Rupees which would be 834.31 Egyptian Pounds.
If you still don't get that India is cheaper then you're brain damaged or something. Prices are based on what the market is willing and able to support, not what the value of the USD is lmao. Go back to school and learn Economics 101 or something cause "supply and demand" and how the market works is all stuff that we covered in High School.
elshankar t1_je1gw5l wrote
I get that the cost of living in India is cheaper, that's not what we're discussing. We're discussing that the value of Indian Rupees are more volatile than USD and you have a better chance of your Indian Rupees losing value than the USD.
If the value of the rupee:USD suddenly went from 82:1 to 2000:1, do you think the cost of the jeans in rupees would remain the same?
Inflamed_Hemorrhoid t1_je1hvei wrote
Do you think the value of the USD will always be stable when its no longer the reserve currency? Do you think India's Rupee will still be as unstable when the US is no longer the default currency?
I don't think these countries really care about whether it will always cheaper or not. They value ending the US's monopoly far more than they value cheap stuff. India has a billion people and far more economic potential than the US, whose population, economy and power is in a steep decline.
The American empire is over and all of this is just cope from people who can't handle it.
elshankar t1_je1kerr wrote
> I don't think these countries really care about whether it will always cheaper or not.
So you think India is buying Russian oil for some reason other than it being cheaper?
Inflamed_Hemorrhoid t1_je1lp2i wrote
No they're literally just buying it because its cheaper lmao That's all that matters in the end. You were the one who was acting like there was something more happening than just buying cheaper stuff.
Nothing you've said changes the fact that the value of USD doesn't matter. All that matters is the value of other currencies vs the Rupee. I know yanks think they are the center of the world and everything is about them, but its not. If the US disappeared tomorrow and everyone there were vaporized in a nuclear war, the rest of the world would move on.
elshankar t1_je1q1la wrote
Haha, you must have missed the quote from your previous post where you said things being cheaper don't really matter because the hatred for the US outweighs cheaper prices. But now, just a few minutes later, cheaper prices are all that matter in the world. For having such a big brain, you're having a hard time keeping your argument straight.
>If the US disappeared tomorrow and everyone there were vaporized in a nuclear war, the rest of the world would move on.
Agreed the rest of the world would move on; however, at that point there would be very few people alive in the world and dollars or rupees would have very little importance, if any.
Good luck in the apocalypse my friend.
ArmChairAnalyst86 t1_je2m5i6 wrote
As an American, I am always shocked by how many people justify their own ugliness and hate by pointing to America. If nothing else, America's hypocrisy gives you a nice big red bow on your casual suggestion that 330 million people dying would be a nice thing in a currency thread. Funny how hate works isn't it?
Bad human behavior is bad human behavior. Use whatever enemy real or imagined necessary, but if you're so open with your own hate, you're no better. You're just another savage with a different flag, or maybe the same one I don't know.
Clamoring for nuclear annihilation of anyone doesn't make you better. It makes you worse. America won't fall, though. Entering into an era of war will only further serve American interests. Death by 1000 cuts was doable in times of peace, but in a time of war, good luck. Whether it's oil, gold, or otherwise, a desperate America will be happy to take it off someone's hands with not so much as an apology. Won't that be fun? The only way to beat her is from within.
kimchifreeze t1_je2q5b4 wrote
If nuclear war only affects the US, then there's no reason for other countries to be concerned then. Just freely drop nuclear weapons to solve all your problems. No externalities whatsoever!!
ArmChairAnalyst86 t1_je2tgd1 wrote
Of course, nuclear war doesn't happen in a vacuum. I'm not implying its a realistic scenario. I'm just shocked at the hate and hypocrisy of people who hate America's hypocrisy. I also wonder what their leaders are like? If they are any more or less corrupt and greedy. What would it look like if they held the same power and reach? Everyone thinks the world would be so much better off, but be careful what you wish for. They may just find that the US isn't the source of all their problems and inequities.
FullMetalMuff t1_je2zjrj wrote
I like it when you comment for you are so stupid yet so unaware of it
winowmak3r t1_je1oj6c wrote
Lol
You could say that about India too, right?
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