Elsewhere3000
Elsewhere3000 t1_jeaep0i wrote
Reply to comment by Bring_Bring_Duh_Ello in Brazil, China strike trade deal agreement to ditch US dollar by loggiews
Over the past 2 weeks:
- Saudi is considering using Yuan for petrol. USD is backed by oil. Not gold.
- China and France complete the first transaction for LNG (gas) using the Yuan with no intermediary.
- Russia considers using the Yuan as a reserve currency.
- Saudi partners with China to build oil refineries for 83.7 billion Yuan ($12 billion USD).
- China and Brazil which we are talking about here.
The percentage of global USD reserves is down from %72 in 1999 to %59 today.
It’s happening. Slowly but it’s happening.
Elsewhere3000 t1_je8kc2f wrote
Reply to comment by Banzai076 in Brazil, China strike trade deal agreement to ditch US dollar by loggiews
It will cause rapid inflation in the dollar and us. The dollar loses purchasing power. The US will look at it like an economic attack, which it is, and will try to seize back power. We’re in for a big conflict. I hope I’m wrong..
Elsewhere3000 t1_je8k6ld wrote
Reply to comment by ChamacoBaboso in Brazil, China strike trade deal agreement to ditch US dollar by loggiews
Throughout history when the reserve currency changes there’s always a huge war.
Elsewhere3000 t1_jeaf1xz wrote
Reply to comment by Bring_Bring_Duh_Ello in Brazil, China strike trade deal agreement to ditch US dollar by loggiews
They are on track to pass the US GDP by 2035 per Goldman Sachs. It’s not a projection it’s an upward trend.