BRICS Ditching the Dollar

[nbruno322]

Good article:

"The ability of the world to ditch the dollar will be a major, major change in world economic balance… and a major step forward for world economic freedom."

http://www.internationalman.com/articles/ditching-the-dollar

 

[Cap]

 

[DFF]

If they need a place to send their unwanted dollars I will gladly take them.

 

[TheCount]

This has been repeated for at least the last two years; the BRICS currencies and economies are all in the shitter and the dollar keep improving in comparison.

 

[silverhandorder]

Wait can you elaborate.

 

[navy-vet]

This has been repeated for at least the last two years; the BRICS currencies and economies are all in the shitter and the dollar keep improving in comparison.

Yes, I agree with that. The numbers, if legit, bear that out.

 

[Zippyjuan]

How many dollars have the BRICs ditched?

 

[Zippyjuan]

Came across this interesting gem of info on that BRICs Bank which was supposed to be by-passing the dollar:

http://www.ft.com/intl/cms/s/0/3c84425c-48a9-11e4-9d04-00144feab7de.html#axzz3Ojfz7AZU

The Brics bank is a feeble strike against dollar hegemony



The new financial institutions announced by the Brics nations in July – a development bank and an arrangement to share currency reserves – have been compared by many observers to the World Bank and the International Monetary Fund.

There is no doubt that they reflect frustration in the developing world over governance at the multilateral institutions that emerged from the Bretton Woods summit 70 years ago. These remain dominated by the US and western Europe despite their relative economic decline. In truth, however, the new initiatives break little ground.

President Vladimir Putin of Russia has said the Brics countries want to end the international monetary system’s dependence on the policy of US authorities. If so, they are off to a poor start. Whereas only 10 per cent of the World Bank’s paid-in capital was contributed in dollars, all the start-up funding for the Brics bank will be in greenbacks, creating new demand for dollar assets.

 

[Natural Citizen]

Ya'll need to get out of dream land. BRICS are doing big things. I'm just going to letyuns go, though, and I'll continue to share updates with regard to the real deal in the relevant threads. Zip, I know that you know the ones.

 

[Zippyjuan]

BRICs made news as doing pretty well when the global economic crisis hit. But since then, they have all been struggling.

 

[Natural Citizen]

BRICs made news as doing pretty well when the global economic crisis hit. But since then, they have all been struggling.

It's what they are doing, Zip. With whom they are aligning. Like I said, that stuff you just can't go Googling. Just have be watchful.

But, I'd agree. The chase ain't easy.

 

[devil21]

This has been repeated for at least the last two years; the BRICS currencies and economies are all in the shitter and the dollar keep improving in comparison.

It's strange watching metals rise, oil fall and the dollar rise. I've seen some posit that the dollar has quietly been put back on the gold standard since the start of the year, which would fit with those market movements lately, but of course there's no available proof of that having occurred.

 

[Zippyjuan]

Can you go to the bank and trade your FRNs for gold coins at face value?

 

[devil21]

Can you go to the bank and trade your FRNs for gold coins at face value?

A different kind of gold standard than direct redemption, more like a global gold standard. Im absolutely not vouching for that theory but it does fit market movements of late that defy conventional wisdom since the start of the year.

 

[Zippyjuan]

So foreign companies/ governments can trade dollars for gold with the US government? What sort of "global gold standard" do you mean?

Is it impossible that markets can go up without any manipulation?

 

[Zippyjuan]

double.

 

[DamianTV]

A different kind of gold standard than direct redemption, more like a global gold standard. Im absolutely not vouching for that theory but it does fit market movements of late that defy conventional wisdom since the start of the year.

Any opinion that defies Zippy defies Conventional Wisdom, and is the way we should all try to think. Conventional Wisdom only benefits the very few at the very tippy top of the 0.001%.

 

[devil21]

So foreign companies/ governments can trade dollars for gold with the US government? What sort of "global gold standard" do you mean?

Is it impossible that markets can go up without any manipulation?

Dunno, was just a theory I've seen that may fit. Not my theory personally but it's worth considering. All the gold being amassed in a certain place (where that is exactly is up for speculation...my guess is China....but it would have to be a global bank of some sort, not solely a Chinese bank) is for backing global currencies from a central location, including the dollar. A global gold standard.

Btw, no one said manipulation. If the theory is correct then movements now would be the most organic they've been in a long time.

 

[TheCount]

Not my theory personally but it's worth considering.

No, it's really not.

 

[devil21]

This message is hidden because TheCount is on your ignore list.