US Politics Thread 2021-24

[Rockstar]

A 'new world order'? BRICS just agreed to welcome Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates — why that's not exactly good news for the US

Chinese President Xi Jinping says the "historic" membership expansion shows broader “unity and cooperation.”

https://moneywise.com/news/top-stori...ates-us-dollar

The BRICS bloc has agreed to admit Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates (UAE) to its ranks — adding fuel to the fire of “a new world order,” according to Russia president Vladimir Putin.

The six new candidates will formally become BRICS members — alongside Brazil, Russia, India, China and South Africa — on January 1, 2024, as reported by Reuters.

“This membership expansion is historic,” said Chinese President Xi Jinping, at the 15th BRICS Summit in Johannesburg. “It shows the determination of BRICS countries for unity and cooperation with the broader developing countries.”

A common desire among multiple bloc members is to level a global economic playing field they feel is over reliant on the U.S. dollar.

New BRICS members

The six new members to the bloc add an interesting dynamic to BRICS. Most are allies or close trading partners with current members.

For instance, the UAE has signed a bilateral trading agreement with India that will see the two countries trade oil and other assets in their local currencies — not the U.S. dollar. Fellow oil power Saudi Arabia is also looking to loosen the grip of the U.S. on the global energy industry.

Meanwhile, Brazil has long called for its neighbor Argentina’s inclusion, Egypt has close commercial connections with Russia and India, and Iran shares Russia’s issues with U.S.-led sanctions and diplomatic isolation.

According to South African officials, more than 40 countries have expressed interest in joining the bloc. Upon announcing the six new members, South African President Cyril Ramaphosa hinted at further expansion saying: “We have consensus on the first phase of this expansion process and other phases will follow.”


What this means for the U.S.

Certain BRICS members — mainly China and Russia — have long called for the bloc’s enlargement as a way to challenge Western dominance, but other members — like Brazil and India — continue to nurture close relationships with the U.S. and Europe.

Brazilian President Luiz Inacio Lula da Silva said on Tuesday: “We do not want to be a counterpoint to the G7, G20 or the United States. We just want to organize ourselves.”

He also defended the idea of a common trading currency between BRICS countries, insisting it is not about “rejecting” the greenback or other national currencies. Rather, he said it would facilitate trade between emerging economies — while also reducing transaction costs and exposure to global volatility and geopolitical risks.

Whether BRICS will rise into a superpower that will overtake the G7 — as predicted by Putin — remains to be seen. What is clear is that more global trade will be conducted in currencies other than the U.S. dollar. But, the greenback currently remains dominant and the U.S. is still by far the world’s largest economy.

Yellen’s reassurance follows a 8% decline in the dollar’s share of global reserves in 2022. In an effort to diversify, central banks worldwide have been starting to ditch their dollar reserves in favor of gold.

[Jeff-Groves]

Nationalize the assets of those Countries that drop the dollar.

[Rockstar]

Originally Posted by Jeff-Groves

Nationalize the assets of those Countries that drop the dollar.

The just need some freedom and democracy bombs.

[Jeff-Groves]

Sorry. I lost it at Dick's are flat and BJ's lowered guidence.

[Catfish]

Originally Posted by Rockstar

It’s pretty obvious what’s in the European news cycle everyday.

Trump or Biden was not mentioned in Hannover and surrounding newspapers even once in the last two weeks

[Catfish]

Originally Posted by Jeff-Groves

Sorry. I lost it at Dick's are flat and BJ's lowered guidence. [...]

[Jeff-Groves]

Only thing missing in that video was a reference to Uranus.


Well. It does in a round about way. Cause U R taking it up the anus!

[Rockstar]

"We are navigating by stars under cloudy skies... We will keep at it until the job is done," Fed Chair Jerome Powell has said.

So in other words he’s flying blind. Oh man, we are in some deep doo doo. Buckle-up.

Things just going up

[mapuc]

Is it Bidens or the Politicians fault Inflation has gone up ?

Markus

[Catfish]

If inflation goes up the one in charge NOW will get all the blame, always. There is never the perception that things develop over decades. Humans are incapable of thinking ahead more than two incidents or events; at the same time anything passed will be forgotten instantly.

"Those who cannot remember the past are condemned to repeat it" – George Santayana, The Life of Reason, 1905.

"Not one human has ever remembered the past" – Catfish, published at the Aerodrome Forum, 2002.

[Rockstar]

[em2nought]

Originally Posted by mapuc

Is it Bidens or the Politicians fault Inflation has gone up ?

Markus

It's their Green New (bad) Deal.

[Skybird]

Originally Posted by mapuc

Is it Bidens or the Politicians fault Inflation has gone up ?

Markus

No, its



1. fractional reserve banking and
2. FIAT money and
3. and the belief that you can always and endlessly take more out of the piggy bank than you put back.

Politicians of every kind are the driving force behind these three core evils.

[Otto Harkaman]

Everything is fine, President Kamala will handle inflation

[Rockstar]

Originally Posted by Skybird

No, its



1. fractional reserve banking and
2. FIAT money and
3. and the belief that you can always and endlessly take more out of the piggy bank than you put back.

Politicians of every kind are the driving force behind these three core evils.

Keynesian economics the belief government intervention can fix it.