Cash is the King...
- Thread starter madaw1
- Start date
China & Russia
holding of USD actually increased past months
but their trades settlement in USD actually went down substantially (China-Russia)
wonder why, when USD appreciates, they have more of it
Its a paradox
https://www.ft.com/content/8421b6a2...j5YFtCEXr8L1s4EgVho1W4QIoc5W-LjjT6fI8s1PFi7lo
China and Russia ditch dollar in move towards ‘financial alliance’
Greenback’s share of neighbours’ trade falls below 50% for first time
holding of USD actually increased past months
but their trades settlement in USD actually went down substantially (China-Russia)
wonder why, when USD appreciates, they have more of it
Its a paradox
https://www.ft.com/content/8421b6a2...j5YFtCEXr8L1s4EgVho1W4QIoc5W-LjjT6fI8s1PFi7lo
China and Russia ditch dollar in move towards ‘financial alliance’
Greenback’s share of neighbours’ trade falls below 50% for first time
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TreasureHunter
Well-Known Member
^
That "Turtles" shirt on that nerd : )))))
That "Turtles" shirt on that nerd : )))))
TreasureHunter
Well-Known Member
Any of us could bag 3-4 "chocolates" into a backpack and (struggle) carry home... would be a nice present. 3 or 4 of those 12 kg bars would make my life complete
TreasureHunter
Well-Known Member
I'd give it a little more time, I think it could drag on for longer... it is not yet in the "agony" phase. Until the exchange rate is decent enough, it's still strong. Look: the dollar is losing ground to PM's, but not so much to other currencies.
Remember the currency exchange rates back in 2008-2012? That was when the dollar seemed to be closer to collapse than today.
I think we'll see horrible exchange rates soon.
I don't expect the dollar collapse to happen until 2025. Probably a bit later, but 5 years it could resist. UNLESS something cataclysmic happens: Venezuela scenario (social unrest), petrodollar collapse, WW3, more trade wars and currency wars with China and Russia etc.
I also think that if the "Corona era" ends, then Europe will recover sooner. And if they do business with China and Russia, then the US dollar is going to weaken tremendously.
As things are playing out, the US is soon going to have currency wars and trade wars with EUROPE! This is a possibility.
Not so soon. FB will be rolling out crypto dollar. They are working on the technology and is the only organisation (governments included) in the world that can globalise crypto payment. As usual, Mark is very cautious and is taking his time to work on the infrastructure.
I'm not so optimistic, I think life will get worst for everyone after the Corona era ends. Singapore is suppose to be a major beneficiary of "globalisation" but yet the standard of living for the average person has been declining over the past 20 years.
There's a reason why people like Jim Rogers and Marc Faber don't live in China. Marc Faber lived in HK for many years but left HK. Jim Rogers lives in Singapore, which is still a nice place for multi-millionaires - for the case of Singapore, at least 20-30 million dollars net worth to be considered wealthy.
As I see it, other than the really wealthy, which of course benefits from globalisation, globalisation only benefits the really poor - people earning $2 a day, people living in places like Cambodia, parts of India and Indonesia. With globalisation, they get to earn $4, which is a 100% improvement. Before they could only eat 1 or 2 meals a day, now 2 or 3 meals, so they benefit from it. People earning $2 a day have very little wants other than having 2 meals.
I'm not so optimistic, I think life will get worst for everyone after the Corona era ends. Singapore is suppose to be a major beneficiary of "globalisation" but yet the standard of living for the average person has been declining over the past 20 years.
There's a reason why people like Jim Rogers and Marc Faber don't live in China. Marc Faber lived in HK for many years but left HK. Jim Rogers lives in Singapore, which is still a nice place for multi-millionaires - for the case of Singapore, at least 20-30 million dollars net worth to be considered wealthy.
As I see it, other than the really wealthy, which of course benefits from globalisation, globalisation only benefits the really poor - people earning $2 a day, people living in places like Cambodia, parts of India and Indonesia. With globalisation, they get to earn $4, which is a 100% improvement. Before they could only eat 1 or 2 meals a day, now 2 or 3 meals, so they benefit from it. People earning $2 a day have very little wants other than having 2 meals.
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TreasureHunter
Well-Known Member
I dont see it lasting 5 more years. Were at the end cycle now. They will have another currency within a year or two guaranteed.
TreasureHunter
Well-Known Member
I agree with you on globalization "benefiting the really poor". And I'd add that it benefits the really poor areas and culturally/historically less developed parts of the world.
Globalization ruins Europe (the looks or cities, the habits, the traditional way of life, the culture etc.), but it surely benefits many areas in Africa, for example. And I agree that what's good for one person might not be a good recipe for the other one.
As for what could happen after Corona besides collapse (although the latter grim scenario is more likely):
- a redistribution of industries: ecommerce is on the rise, work from home is popular, many people in Europe have more money put away (because they didn't spend it on transportation, office expenses etc.)
- a boom in tourism after the pandemic (even now in July-August overwhelmingly many people have hit the seas and spent more than would have normally spend... before the pandemic), I think this has a high probability (people would naturally burn their saved surplus money on a long exotic vacation)
So, there are some positives as well, not just the "grim collapse" scenario. And who knows, perhaps we'll slid through it mildly. I wish this to happen (yes, I am dreaming
)
I agree with you on globalization "benefiting the really poor". And I'd add that it benefits the really poor areas and culturally/historically less developed parts of the world.
Globalization ruins Europe (the looks or cities, the habits, the traditional way of life, the culture etc.), but it surely benefits many areas in Africa, for example. And I agree that what's good for one person might not be a good recipe for the other one.
As for what could happen after Corona besides collapse (although the latter grim scenario is more likely):
- a redistribution of industries: ecommerce is on the rise, work from home is popular, many people in Europe have more money put away (because they didn't spend it on transportation, office expenses etc.)
- a boom in tourism after the pandemic (even now in July-August overwhelmingly many people have hit the seas and spent more than would have normally spend... before the pandemic), I think this has a high probability (people would naturally burn their saved surplus money on a long exotic vacation)
So, there are some positives as well, not just the "grim collapse" scenario. And who knows, perhaps we'll slid through it mildly. I wish this to happen (yes, I am dreaming
Those living under feudalism as serfs would have had difficulty envisioning a world in which they had control over where they found employment and having some bargaining power over their wages.
Maybe the post Corona world will present new ways of living that are almost impossible to envision?
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TreasureHunter
Well-Known Member
^
For sure, many things will be different.
For sure, many things will be different.
This scamdemic isnt going to "end", sorry to say.
This is just the beginning.
This is just the beginning.
You're misusing the concept of globalisation.
This is what globalisation means:
https://www.investopedia.com/terms/g/globalization.asp
And the process has lifted the world's population to new levels of prosperity in Western nations, and slashed poverty in poorer nations. What you refer to as "globalization" is something completely different, a socio-political policy not at all linked to economics and trade. But don't let your ignorance get in the way.
As usual you are talking shit.
Absolutely.
This covid pandemic will last for years, or until we return to a sound money system or until the printing stops or until it all comes crashing down.
They have total control of the sheeple with covid and most are gripped in fear daily.
The covid is the reason for all these bailouts remember. Its not the effects of policy or debt.
Before you think about a post corona world (whatever the eff that will look like), we need to survive this one first.
Many bad things NEED to happen before we ever reach a post c world.
By the time it's over many might be thinking death would have been better.
They have total control of the sheeple with covid and most are gripped in fear daily.
The covid is the reason for all these bailouts remember. Its not the effects of policy or debt.
Before you think about a post corona world (whatever the eff that will look like), we need to survive this one first.
Many bad things NEED to happen before we ever reach a post c world.
By the time it's over many might be thinking death would have been better.
Notice how no one takes the time to reply to your delusional posts? Haha
No one can help you at this point.
No one can help you at this point.