Biden Lets China Threaten The Greenback's Status As The World's Reserve Currency

Whistling past the graveyard. Just like 2021

 

No, its a valid point.
James 1:27 says that pure religion is the caring for orphans and widows in distress

You are very much on point my friend

 

That was the Republican Manufactured Crisis of the Month for January 2019. Since then, they've moved onto more pressing manufactured issues like drag shows in hotel lobbies.

 

That data must be off, it says the US is exporting 10 million more barrels of oil a month now than when Biden took office.

Wait, wait, wait, if we add in crude oil production, it is clear to see that Biden is responsible for high gas prices because he raised exports by 10 million barrels a month, and production only increased by 40 million barrels a month. Clearly Biden is gaming the system by artifically increasing exports more than production is increasing by, therefore driving up gas prices domestically so he can force us all to drive electric cars. Or something. Marxism?

 

Are you suggesting that Christ was a Jewish landlord? Shame on you.

 

And the homeless. I think Jesus, if he walked among us today and wasn’t stoned, would embrace us all, including LGBQT. For me, his essential message was love and tolerance, but Lord, that’s hard to live up to. But I think he would forgive our shortcomings if our hearts are pure and well-intentioned.

 

There is very little red letter bible wrong with what Jesus stood for. He was quite ahead of his time. Unfortunately there is more Paul in the New Testament than Jesus. Most of the wrong stuff is Paul not Jesus. Don’t get me started on the horror show that the Old Testament is.

 

I was against the last stimulus, thought it was overkill and not much more than pandering. And I also acknowledged the risk of inflation And it’s role when it happened. And gave the same message as now, that it wasn’t the only factor.
But Ok.
Meantime, wake me up when the yuan passes the dollar in global use.

 

This is where you are missing the point. They don’t have to “pass the dollar” to wreak an incredible amount of damage to the dollar. This is not a game with a scoreboard, where all you have to be is in the lead.

 

There are some angry commies here posting negative reps on you. They must think that China is incapable of disrupting the dollar. They are part of the CRIBS (China, Russia, India, Brazil and South Africa) nations... axis of evil. CRIBS is the order of those countries' green house gas polluters from the worst to the least.

 

'According to the Brazilian government, China and Brazil have reached a deal to trade in their own currencies, ditching the United States dollar as an intermediary entirely, AFP reported.

The deal, Beijing’s latest salvo against the almighty greenback, will enable China, the top rival to US economic hegemony, and Brazil, the biggest economy in Latin America, to conduct their massive trade which amounts to $150 billion per year, and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the US dollar. In doing so China extends its bilateral, USD-exempting currency arrangements beyond countries such as Russia, Pakistan and Saudi Arabia to now include the Latin American exporting powerhouse.
“The expectation is that this will reduce costs... promote even greater bilateral trade and facilitate investment,” the Brazilian Trade and Investment Promotion Agency (ApexBrasil) said in a statement.

China is Brazil’s biggest trading partner, with a record US$150.5 billion (S$200 billion) in bilateral trade last year.'

 

No we aren't. Not even close. Keep an eye on that $31T debt we have. The Fed is blowing fuses left and right trying to manipulate the economy in their favor and they can't. The issue isn't inflation but that debt. That debt is forever, it's never going away, and it's never going to reverse. At some point, the US will go insolvent. There's no magic number, but my guess is when the interest on debt hits a certain % of GDP, the US will collapse. The world can't help us, our debt exceeds the rest of the world. Even borrowing from other nations is starting to become more difficult because 1) we borrow more than they can afford to lend us and 2) there's fear we won't be able to pay it back.

It didn't take much to cause SVB to collapse and the entire banking system is on high alert. I said this weeks ago when I said, "the FDIC only has 1% of the cash on hand to pay insurance on just insured deposits." That doesn't include another $8.8T in uninsured deposits that Biden approved to cover. His advisors are awful, awful when it comes to the economy. They set a precedent when they saved uninsured depositors of the 2 bank failures. If there is even a teeny, tiny ripple in the banking system, it's game over. Nothing the Biden WH, the Fed, or the Treasury can do if there is a tiny run. They rightly fear if regional banks collapse if there's a run. It doesn't take much to start the snowball down the mountain side.

 

You sound more like an eye for an eye kind of guy.

 

Too many doubters here to see what's going on in the world.

And this is the guy Biden helped win the Brazilian election? He's a complete and utter joke.

 

It might help if when republicans are in power they wouldn’t turn any gains into tax cuts for the rich. Then again maybe that’s part of the plan. Run up the debt to the point that they insist we can no longer afford social security, Medicare or Medicaid, or any other social safety net.

 

LOL, THFSG...

 

So what’s the threshold in your mind when this incredible wreaking of havoc occurs? I am saying it’s nowhere close, and won’t happen overnight. Though over the dollar will likely wane, as the charts below show. But this is what I am saying, these are foreign currency reserves worldwide, and banking claims and liabilities worldwide. China had actually lost ground in recent years. This was pre crisis, but the dollar’s strength has grown since then.




The International Role of the U.S. Dollar

 

I don’t know whether to laugh or cry!

 

Do you sleep with your doors unlocked and windows open?