Watch them turn around and peg it to the dollar.

We are the prettiest fat girl at the dance

Our economy is strong because we've printed and manipulated the economy to the top. Not saying that ends at all, but our leaders and EU's are hell bent or breaking the value that generations fought to preserve.

If I was a third world country I'd be hyper pissed that EU and USA can print unlimited money then come out our countries and gobble everything up with it. I think it's nave to think this can go on forever.

gonemaroon said:

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We are the prettiest fat girl at the dance

Our economy is strong because we've printed and manipulated the economy to the top. Not saying that ends at all, but our leaders and EU's are hell bent or breaking the value that generations fought to preserve.

If I was a third world country I'd be hyper pissed that EU and USA can print unlimited money then come out our countries and gobble everything up with it. I think it's nave to think this can go on forever.

---

Oh I agree completely. It can't and won't go on forever and I don't think I implied it will. But we aren't facing imminent collapse either. China is collapsing right before our eyes which means something like $5 TRILLION of manufacturing activity is looking for a new home. That's going to take time to sort out and when it does a lot of it will land here and in Mexico. As that unfolds the US will experience significant economic growth from the capital expenditures that are required to add that capacity. Then we'll have an economy that is that much more dominant globally because we will have added $XT to what is already the largest manufacturing base in the world. Better still Mexico will have added $XT to what is a growing manufacturing base which will put a huge dent in the flow of illegals into this country.

The above is just starting to happen and is a small but growing piece of the inflation we're seeing and will see for the rest of this decade. I won't sit here and pretend we're going to manage all of this correctly because I think we both know better but at the end of this decade our percent of GDP attributed to manufacturing will have increased while our percent attributed to imports will have declined. That's a near certainty and we'll be a stronger economy for it.

The real question is one of ideology and politics. We have to get the boomers out of office. They are beholden to an obsolete world order built around an 80 year old security arrangement that has made them enormously wealthy while adding scant little real value to the American people. That era has to end.

Agree with everything you wrote

The major issue with a BIRC currency is how long do those countries operate in tandem.

We are talking about countries in different hemispheres, or in the case of IRC, countries that have been in opposition several times. That is a lot of jumbled interests which will make it hard to have a disciplined fiat approach.

LOYAL AG said:

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gonemaroon said:

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We are the prettiest fat girl at the dance

Our economy is strong because we've printed and manipulated the economy to the top. Not saying that ends at all, but our leaders and EU's are hell bent or breaking the value that generations fought to preserve.

If I was a third world country I'd be hyper pissed that EU and USA can print unlimited money then come out our countries and gobble everything up with it. I think it's nave to think this can go on forever.

---

Oh I agree completely. It can't and won't go on forever and I don't think I implied it will. But we aren't facing imminent collapse either. China is collapsing right before our eyes which means something like $5 TRILLION of manufacturing activity is looking for a new home. That's going to take time to sort out and when it does a lot of it will land here and in Mexico. As that unfolds the US will experience significant economic growth from the capital expenditures that are required to add that capacity. Then we'll have an economy that is that much more dominant globally because we will have added $XT to what is already the largest manufacturing base in the world. Better still Mexico will have added $XT to what is a growing manufacturing base which will put a huge dent in the flow of illegals into this country.

The above is just starting to happen and is a small but growing piece of the inflation we're seeing and will see for the rest of this decade. I won't sit here and pretend we're going to manage all of this correctly because I think we both know better but at the end of this decade our percent of GDP attributed to manufacturing will have increased while our percent attributed to imports will have declined. That's a near certainty and we'll be a stronger economy for it.

The real question is one of ideology and politics. We have to get the boomers out of office. They are beholden to an obsolete world order built around an 80 year old security arrangement that has made them enormously wealthy while adding scant little real value to the American people. That era has to end.

---

Agreed! Out with the boomers (some riding a pole tarred and feathered) and in with the.... millenial, gender-fluid pansexuals!

Fffffffffffffk.

I'm going to sell crypto and buy BRICS!

Adverse Event said:

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LOYAL AG said:

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gonemaroon said:

---

We are the prettiest fat girl at the dance

Our economy is strong because we've printed and manipulated the economy to the top. Not saying that ends at all, but our leaders and EU's are hell bent or breaking the value that generations fought to preserve.

If I was a third world country I'd be hyper pissed that EU and USA can print unlimited money then come out our countries and gobble everything up with it. I think it's nave to think this can go on forever.

---

Oh I agree completely. It can't and won't go on forever and I don't think I implied it will. But we aren't facing imminent collapse either. China is collapsing right before our eyes which means something like $5 TRILLION of manufacturing activity is looking for a new home. That's going to take time to sort out and when it does a lot of it will land here and in Mexico. As that unfolds the US will experience significant economic growth from the capital expenditures that are required to add that capacity. Then we'll have an economy that is that much more dominant globally because we will have added $XT to what is already the largest manufacturing base in the world. Better still Mexico will have added $XT to what is a growing manufacturing base which will put a huge dent in the flow of illegals into this country.

The above is just starting to happen and is a small but growing piece of the inflation we're seeing and will see for the rest of this decade. I won't sit here and pretend we're going to manage all of this correctly because I think we both know better but at the end of this decade our percent of GDP attributed to manufacturing will have increased while our percent attributed to imports will have declined. That's a near certainty and we'll be a stronger economy for it.

The real question is one of ideology and politics. We have to get the boomers out of office. They are beholden to an obsolete world order built around an 80 year old security arrangement that has made them enormously wealthy while adding scant little real value to the American people. That era has to end.

---

Agreed! Out with the boomers (some riding a pole tarred and feathered) and in with the.... millenial, gender-fluid pansexuals!

Fffffffffffffk.

---

Yeah I threw up in my mouth realizing that moving on from the Boomers means in with the Millennials. Lol. When you realize how bad our leadership is and has often been it really serves to remind you of how good of a hand we were dealt. In my lifetime we've had Nixon, Ford, Carter, W, Obama and Biden and somehow we're the richest most powerful nation in world history. I had that hand once. Both jokers, the ace and Jack along with five other spades. At that point it's a "just don't **** it up hand" as you try to run the table. Somehow we haven't yet but we're trying!

will25u said:

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Brazil, Russia, India, China and South Africa are developing a new Reserve Currency to challenge US Dollar dominance.

NEW: Russia and China are developing a new reserve currency with other BRICS countries to challenge the dollar dominance - reports

— Insider Paper (@TheInsiderPaper) July 12, 2022

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We're reaching peak petro dollar fear porn if the links are rolling in weekly rather than monthly - although they've been reliable for over a decade.

https://texags.com/forums/16/topics/3300154/replies/62432889#62432889

It's pretty cool though that all those countries can agree on a reserve currency. The yuan is loosely pegged to the dollar, and the other currencies are not worth mentioning. Is this some sort of super currency they'll all pitch in on and have control over?

I get this is a half baked tweet based on endless announcements from countries that make routine
announcements about how this time they're off the dollar (see links in my link from a handful of days ago), but as far as these things go this one seems particularly far fetched. I kind of like it.

Let's see…Brazil, Russia, India, China and South Africa

…vs Western Europe, NZ, Aus, Japan, Canada, Israel and the US?

Which team has hegemony on military, business, education, medicine, technology?…****…hegemony on everything.

Anyone willing to bet on Brics is dumber than a bag of em.

Maybe the reserve currency will actually be called Brics and they'll all have equal control over it, as sovereign countries are wont to do these days. A union of Briclayers, if you will.

These countries all over the globe saw how successful the Euro has been for the individual countries with no control over their currency, and thought let's do that. We can figure out the details about control, valuation, etc. later as long as it's centralized and out of our hands.

The important thing is to get it out on social media that the dollar is finally done.

As much fun as I've had with this I decided to Google to see if there was anything more than a tweet.

https://www.globaltimes.cn/page/202207/1270405.shtml

Quote:

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BRICS Could Create Its Own Reserve Currency, Russia's Medvedev Says

The BRICS group of nations could create a new world reserve currency to better serve their economic interests, former president and prime minister Dmitry Medvedev, who now serves as deputy chairman of Russia's Security Council, has indicated.

"The best protection against the rotting euro will be the transition to new payment methods in trade with our reliable partners, including through the use of national currencies - the Russian ruble, the Chinese yuan, the Indian rupee, etc. In the future, the creation of a new reserve currency of BRICS countries is also possible. The dollar, euro and pound sterling are clearly not enough for the modern world," Medvedev wrote on his Telegram page on Tuesday, commenting on the parity reached between the euro and dollar exchange rate.
. . .

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You'd think they'd just pay each other in sour grapes (although that may be unfair given the Russian source).

They've always been free to take payment in their national currencies, and if they want to create a common Russian, Brazilian, Chinese, South African, etc. joint reserve currency they're free to do that too - even though none of them want to be paid in their own currency other than Russia at the moment.

The folks most screwed in all this are the Euros. They need commodities which Brics and the Americas have.. Between that and watching the USD gain strength, they're fooked imo.

Saudi Arabia and Iran formally asked to join BRICS.

Other countries that have expressed interest in joining include Argentina, the United Arab Emirates, Algeria, Egypt, Bahrain and Indonesia.

Stat Monitor Repairman said:

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Saudi Arabia and Iran formally asked to join BRICS.

Other countries that have expressed interest in joining include Argentina, the United Arab Emirates, Algeria, Egypt, Bahrain and Indonesia.

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Argentina, huh? Great economic history there…and how long before Russia and China start arguing over who is the alpha?

JWinTX said:

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Stat Monitor Repairman said:

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Saudi Arabia and Iran formally asked to join BRICS.

Other countries that have expressed interest in joining include Argentina, the United Arab Emirates, Algeria, Egypt, Bahrain and Indonesia.

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Argentina, huh? Great economic history there…and how long before Russia and China start arguing over who is the alpha?

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Why would they? They (russian oligarchs) are happy to play 2nd fiddle, and know that economically they are a 3rd tier country at best. It's a long term play (BRICS) designed to undermine western hegemony in trade/currency using Chinese subsidies (via exports/investments).

Russia is and has been all to happy to play along.

notex said:

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JWinTX said:

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Stat Monitor Repairman said:

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Saudi Arabia and Iran formally asked to join BRICS.

Other countries that have expressed interest in joining include Argentina, the United Arab Emirates, Algeria, Egypt, Bahrain and Indonesia.

---

Argentina, huh? Great economic history there…and how long before Russia and China start arguing over who is the alpha?

---

Why would they? They (russian oligarchs) are happy to play 2nd fiddle, and know that economically they are a 3rd tier country at best. It's a long term play (BRICS) designed to undermine western hegemony in trade/currency using Chinese subsidies (via exports/investments).

Russia is and has been all to happy to play along.

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I'm not sure that Russia is happy to play along. I think they are in bed with China now because it behooves them. But communists never trust anyone, even themselves. China and Russia will eventually be at odds with each other...and unlike the Western liberal wimps, the Russians fight back. And make deals with whoever it can gain the most from--this is Putin's Way. They'll abandon this other currency plan as soon as the US ever stops the Ukraine water spigot and opens up a solid energy plan again, just like we did under Trump. Putin takes advantage of weak US leaders for invasions-they take advantage of strong US leaders to fortify their energy policies and other economic issues.