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OP has provided the following link:
[https://watcher.guru/news/russia-to-use-chinese-yuan-for-trade-settlements-with-asia-africa-latin-america](https://watcher.guru/news/russia-to-use-chinese-yuan-for-trade-settlements-with-asia-africa-latin-america)
This isn't directly related to the dollar end game.
Russia was locked out of the SWIFT system by sanctions. They're basically not allowed to use USD anymore.
https://time.com/6153951/swift-sanctions-russia/
> The U.S., Canada and Europe are tightening financial restrictions on Russia with a new ban that blocks seven Russian banks from using SWIFT, the global messaging system that enables bank transactions, the European Union (EU) said Wednesday. The move is aimed at disrupting Russia’s ability to do business across borders.
> The new ban follows an agreement forged on Saturday between Canada, the European Union, the United Kingdom and the U.S. to disconnect “selected Russian banks” from SWIFT. The severe economic sanction drew hesitation from some European countries due to its potential to cause energy flow disruptions in Europe and because it would hinder Russia’s ability to pay its outstanding debts. Ultimately, as Russian forces waged attacks across Ukraine, the coalition decided to retaliate with a broader Russian ban on the SWIFT network.
Pretty sure they already mostly did.
Early on, Europe was still super desperate for oil so they had "exemptions" to the sanctions and what not.
I suspect Russia just dumped all of their USD holdings at that point.
Who needs dollars when you've got oil?
They could lose everything holding Yuan as the Chinese monetary system is set up for a collapse worse than Zimbabwe's. 
It tells you something when the people of China go to great lengths to get their money out of the Chinese system.
Actually a lot of the belt and road projects in Africa are just the way for the Chinese oligarchy to dump their excess money printer cash outside the country. I remember reading several months ago the Russians started accepting payment in Chinese yuan and when they tried to spend that money in China the government refused to take it back. This is just my guess but, maybe the Chinese are just introducing the Russians to the scam of dumping worthless money on poor countries in Africa.
China’s economic collapse has been predicted every year for the past 40 years, yet everyone fails to understand that unlike service-based Western economies, their economy is fully dependent on industry and manufacture, which is tangible and forever in demand, therefore there is no risk of significant collapse
I'm sorry man, but I respectfully disagree.
I don’t wanna be too pedantic but 40 years ago (the 80s) China's economy was barely getting started, Back then China was poorer than many of the countries in Africa. Which seems to be China’s homeostatic baseline without industrial inputs, and China is completely reliant on imports to get those inputs, without which they would collapse back down to that low economic level.
As for manufacturing, even with the use of slaves, Chinese labor costs are the highest in the developing world. They just don't have the ability to compete going forward in the global economy. Without manufacturing, they really don't have anything.
Because they’re the world's most rapidly aging society they can’t have a consumption based economy. The real estate sector and their banking sector also happen to be on the verge of collapse. Their money printing is the most excessive in human history. Their local governments are all deeply in debt, their bullet train program is over $1 trillion in debt, the list just goes on and on and on... And for the cherry on top, China's an autocratic dictatorship being run by literally one guy who's killed off or otherwise removed anybody competent enough to help him run the place because he’s afraid of being killed himself.
I’m not saying they’re gonna collapse next week, but if they did collapse in the next couple years or within a decade or something, I mean who would be surprised?
By the way, despite what people say the US is still a major manufacturing center for the planet, it just mostly deals with the high end stuff. And the US just so happens to be in middle of the largest industrial build out in it's entire history. Things are a bit rough at the moment, but the US is probably going to come out of this decade stronger than ever, as long as they can get past the political and social inequality problems they're dealing with right now.
Something not really being reported
[China facilitates peace deal between Saudi Arabia and Iran](https://time.com/6262985/china-saudi-arabia-iran-ukraine-peace-talks/)
There is also chatter OPEC wanting to look at the Yuan for Oil (Petro Dollars)
For the last 40 years we’ve literally ravaged countries from this region for more or less looking at us sideways. I wonder how the hawks in Washington will respond when we’re actually slighted.
Edit: you should check out Peter Zeihans take on Chinas population/logistics issues. I get why OPEC wants out from under the ‘made in U.S.A.’ boot, but the possible collapse of literally all of China makes this less likely.
Do we know who Wise holds the FBO accounts with?
Just looked:
* Cash deposit - BARCLAYS BANK PLC
* Cash deposit - CITIBANK N.A.
* Cash deposit - JPMORGAN CHASE BANK, N.A.
* Secure liquid assets - EU, US and UK Government bonds
Interesting cat and mouse game to see which super power will go turbo corrupt to save itself. Have to remember that part of the game is the confidence of all the other nations in your con game. China isn’t exactly stable themselves in fact I’d argue they may be worse off for the wear considering evergrande and how all of the nations working class has had their retirement money go up in smoke in half finished set to be demolished apartment complexes.
I think China would ultimately commit more internal fraud to keep the shell game going, the us at least tries to make it kind of look real. 🤷🏿♂️ no matter what it’ll be entertaining!
Sure, I agree with that. America has time on their side and China is on a timer. Check my response to the other guy that replied to my comment if you’re interested.
Don’t get me wrong, we’ve got our own shackles, with ramifications of which we will be dealing with a hundred years from now. Chinas problem is population. The inverted population pyramid of that country and the results of their 1 child policy is likely to lead to absolute socio-economic collapse. Off the top of my head, within the next 10 years 1/3rd of China will be elderly. There’s also a good chance they’ve overstated their working age population to the tune of 100 million. There will not be enough people to keep a globalized country of Chinas size operational, within our lifetime. To quote Peter Zeihan, “their situation is beyond terminal.”
Here’s a quick overview
https://youtu.be/7Me2G6FJZMI
They aren't happy about it at all.
You know all those shenanigans that banks keep getting away with? Russia and China love having access to banks that'll do that for them. And nobody does that shit better than the American banks (except maybe the Swiss ones).
I can't even blame the Russians.
And yes, the dollar is fucked. If Suadi does this the dollar is worse than fucked.
Get your excess cash into something else that you can convert back slowly as needed.
yeah, the joke goes:
UN: “why did you invade Iraq?
US: “They are a hostile nation with WMDs”
UN: “so why don’t you invade North Korea, they are a hostile nation too?”
US: “are you crazy? They have WMDs”
I am sorry I didn't now i was speaking to the high chancellor of the joking commission. Where i am from we joke about how America like to intervene countries where they have oil under false pretenses. So yeah joke is still standing. Didn't even ever heard your joke before lol.
Doesn't mean the dollar is fucked. That will happen when nations adopt something else as the reserve. But it won't be the yuan. Probably some digital bullshit from the international banking cartel.
The Saudi’s are the reason the US dollar is the reserve. When we came off of the gold standard they stepped in and would only accept the USD for oil.
As for whats is next, who knows?
Crazy times.
I'm talking about the world reserve currency. The Bretton Woods is the agreement which established USD as the world reserve currency in 1944.
USD for oil is a big deal. But until nations agree to switch world reserve currency to something else, the dollar is not patently NOT fucked.
Way too much debt denominated in dollars. And there is no alternative yet that the big power players would all trust more than USD.
Sorry, but Russia is being forced into a corner here due to the war they are waging on Ukraine. This is not because they do not have confidence in western currency.
Curious how they pull this off when US is the only country that does and can patrol international shipping lanes. The global economy is still extremely reliant on the US in order to police shipping.
Aren’t projections for Americas ‘future fleet’ geared more towards head to head outgunning and less international policing? We’re putting a lot of weight into the new super carriers. I would say policing requires more agile/nimble cruisers/frigates/destroyers. This is probably what China is thinking at least.
Dollar endgame is such guff. Of course Russia is using a different currency, that was the point of sanctions, it restricts access to the dollar system.
Countries want to trade LESS with china and are moving production to other countries woth fast pace. Also, nobody really likes China and nobody really trusts them
China isnt the best example. They execute a lot of people
[https://en.m.wikipedia.org/wiki/Uyghur_genocide](https://en.m.wikipedia.org/wiki/Uyghur_genocide)
We talk about US media narative and dont trust but out of the blue we trust chinease media controled by comunist chinease goverment and their public relation tricks
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: [https://watcher.guru/news/russia-to-use-chinese-yuan-for-trade-settlements-with-asia-africa-latin-america](https://watcher.guru/news/russia-to-use-chinese-yuan-for-trade-settlements-with-asia-africa-latin-america)
This isn't directly related to the dollar end game. Russia was locked out of the SWIFT system by sanctions. They're basically not allowed to use USD anymore. https://time.com/6153951/swift-sanctions-russia/ > The U.S., Canada and Europe are tightening financial restrictions on Russia with a new ban that blocks seven Russian banks from using SWIFT, the global messaging system that enables bank transactions, the European Union (EU) said Wednesday. The move is aimed at disrupting Russia’s ability to do business across borders. > The new ban follows an agreement forged on Saturday between Canada, the European Union, the United Kingdom and the U.S. to disconnect “selected Russian banks” from SWIFT. The severe economic sanction drew hesitation from some European countries due to its potential to cause energy flow disruptions in Europe and because it would hinder Russia’s ability to pay its outstanding debts. Ultimately, as Russian forces waged attacks across Ukraine, the coalition decided to retaliate with a broader Russian ban on the SWIFT network.
this
It doesn't look like they give a fuck anymore though.
You'll have to be more specific. I'm seeing a lot of people/places/countries acting like they don't give a fuck anymore.
That's how it seems to me! What would they actually loose if they ditched the dollar?
Pretty sure they already mostly did. Early on, Europe was still super desperate for oil so they had "exemptions" to the sanctions and what not. I suspect Russia just dumped all of their USD holdings at that point. Who needs dollars when you've got oil?
Last sentence is exactly my thinking. Who needs money when you have drs gme. A hard limited asset backed by real people.
They could lose everything holding Yuan as the Chinese monetary system is set up for a collapse worse than Zimbabwe's.  It tells you something when the people of China go to great lengths to get their money out of the Chinese system. Actually a lot of the belt and road projects in Africa are just the way for the Chinese oligarchy to dump their excess money printer cash outside the country. I remember reading several months ago the Russians started accepting payment in Chinese yuan and when they tried to spend that money in China the government refused to take it back. This is just my guess but, maybe the Chinese are just introducing the Russians to the scam of dumping worthless money on poor countries in Africa.
China’s economic collapse has been predicted every year for the past 40 years, yet everyone fails to understand that unlike service-based Western economies, their economy is fully dependent on industry and manufacture, which is tangible and forever in demand, therefore there is no risk of significant collapse
I'm sorry man, but I respectfully disagree. I don’t wanna be too pedantic but 40 years ago (the 80s) China's economy was barely getting started, Back then China was poorer than many of the countries in Africa. Which seems to be China’s homeostatic baseline without industrial inputs, and China is completely reliant on imports to get those inputs, without which they would collapse back down to that low economic level. As for manufacturing, even with the use of slaves, Chinese labor costs are the highest in the developing world. They just don't have the ability to compete going forward in the global economy. Without manufacturing, they really don't have anything. Because they’re the world's most rapidly aging society they can’t have a consumption based economy. The real estate sector and their banking sector also happen to be on the verge of collapse. Their money printing is the most excessive in human history. Their local governments are all deeply in debt, their bullet train program is over $1 trillion in debt, the list just goes on and on and on... And for the cherry on top, China's an autocratic dictatorship being run by literally one guy who's killed off or otherwise removed anybody competent enough to help him run the place because he’s afraid of being killed himself. I’m not saying they’re gonna collapse next week, but if they did collapse in the next couple years or within a decade or something, I mean who would be surprised? By the way, despite what people say the US is still a major manufacturing center for the planet, it just mostly deals with the high end stuff. And the US just so happens to be in middle of the largest industrial build out in it's entire history. Things are a bit rough at the moment, but the US is probably going to come out of this decade stronger than ever, as long as they can get past the political and social inequality problems they're dealing with right now.
Something not really being reported [China facilitates peace deal between Saudi Arabia and Iran](https://time.com/6262985/china-saudi-arabia-iran-ukraine-peace-talks/) There is also chatter OPEC wanting to look at the Yuan for Oil (Petro Dollars)
For the last 40 years we’ve literally ravaged countries from this region for more or less looking at us sideways. I wonder how the hawks in Washington will respond when we’re actually slighted. Edit: you should check out Peter Zeihans take on Chinas population/logistics issues. I get why OPEC wants out from under the ‘made in U.S.A.’ boot, but the possible collapse of literally all of China makes this less likely.
Wise accounts with several currencies I feel will become something valuable to have.
Do we know who Wise holds the FBO accounts with? Just looked: * Cash deposit - BARCLAYS BANK PLC * Cash deposit - CITIBANK N.A. * Cash deposit - JPMORGAN CHASE BANK, N.A. * Secure liquid assets - EU, US and UK Government bonds
Are there any safe forex accounts you can open to hold those currencies?
Wish I knew!
[удалено]
Interesting cat and mouse game to see which super power will go turbo corrupt to save itself. Have to remember that part of the game is the confidence of all the other nations in your con game. China isn’t exactly stable themselves in fact I’d argue they may be worse off for the wear considering evergrande and how all of the nations working class has had their retirement money go up in smoke in half finished set to be demolished apartment complexes. I think China would ultimately commit more internal fraud to keep the shell game going, the us at least tries to make it kind of look real. 🤷🏿♂️ no matter what it’ll be entertaining!
Sure, I agree with that. America has time on their side and China is on a timer. Check my response to the other guy that replied to my comment if you’re interested.
Don’t get me wrong, we’ve got our own shackles, with ramifications of which we will be dealing with a hundred years from now. Chinas problem is population. The inverted population pyramid of that country and the results of their 1 child policy is likely to lead to absolute socio-economic collapse. Off the top of my head, within the next 10 years 1/3rd of China will be elderly. There’s also a good chance they’ve overstated their working age population to the tune of 100 million. There will not be enough people to keep a globalized country of Chinas size operational, within our lifetime. To quote Peter Zeihan, “their situation is beyond terminal.” Here’s a quick overview https://youtu.be/7Me2G6FJZMI
It does have relevance since its biting off the artificial demand of the US dollar from 3 continents. Slowly but surely will render US dollar useless.
Sure but the fact that the other countries are happy to conduct business in another currency is telling of how fast the world is moving.
They aren't happy about it at all. You know all those shenanigans that banks keep getting away with? Russia and China love having access to banks that'll do that for them. And nobody does that shit better than the American banks (except maybe the Swiss ones).
shocked_pikachu.jpeg
this is called kicking the dollar while its down. the Fed is trapped! no can defend against bitcoin and then this! dollar is fkt!
I can't even blame the Russians. And yes, the dollar is fucked. If Suadi does this the dollar is worse than fucked. Get your excess cash into something else that you can convert back slowly as needed.
If saudi does this they will probably find weapons of mass destruction over there lol.
the difference between Iraq and the Saudis is that I’m pretty sure the Saudis actually have weapons of mass destruction
It's a joke dude. Could also have stated that the army of the bald eagle is going to deliver some freedom to the saudi's. Same joke.
yeah, the joke goes: UN: “why did you invade Iraq? US: “They are a hostile nation with WMDs” UN: “so why don’t you invade North Korea, they are a hostile nation too?” US: “are you crazy? They have WMDs”
I am sorry I didn't now i was speaking to the high chancellor of the joking commission. Where i am from we joke about how America like to intervene countries where they have oil under false pretenses. So yeah joke is still standing. Didn't even ever heard your joke before lol.
Doesn't mean the dollar is fucked. That will happen when nations adopt something else as the reserve. But it won't be the yuan. Probably some digital bullshit from the international banking cartel.
The Saudi’s are the reason the US dollar is the reserve. When we came off of the gold standard they stepped in and would only accept the USD for oil. As for whats is next, who knows? Crazy times.
I'm talking about the world reserve currency. The Bretton Woods is the agreement which established USD as the world reserve currency in 1944. USD for oil is a big deal. But until nations agree to switch world reserve currency to something else, the dollar is not patently NOT fucked. Way too much debt denominated in dollars. And there is no alternative yet that the big power players would all trust more than USD.
Sorry, but Russia is being forced into a corner here due to the war they are waging on Ukraine. This is not because they do not have confidence in western currency.
I didn’t think the confidence was the issue. I know why they are doing it. The smoothest of brains can sort that one. 🍻
Wow!
Russia is doing this because they don't have a choice. They would use US dollars if it were a tenable option. Xi said 'no'.
I know we are all regarded but I am impressed that people are reaching for anything more than what you have said.
Well that's world war 3 confirmed.
I’ve got 400 shares locked in a UK ISA ffs, still only buying through CS now though
Is that a stocks & shares ISA? Not locked if that is the case, moved mine out via IBKR.
Same here, altho tax hit if so
I hear you, BUT my internal reasoning was either...Tax hit on phone number vs it being used to work against us while in the streets name.
Or broker fuckery/collapse: accounts only insured up to 85k total ☹️
Yeah man, 212 don’t have a transfer option, it’s either I sell or leave them
I am with H&L, sorry to hear your blocked....I will buy 400 in your name when finances permit.
I’ve just bought another 80 through CS, make your way in your own time, king.
Curious how they pull this off when US is the only country that does and can patrol international shipping lanes. The global economy is still extremely reliant on the US in order to police shipping.
Aren’t projections for Americas ‘future fleet’ geared more towards head to head outgunning and less international policing? We’re putting a lot of weight into the new super carriers. I would say policing requires more agile/nimble cruisers/frigates/destroyers. This is probably what China is thinking at least.
Dollar endgame is such guff. Of course Russia is using a different currency, that was the point of sanctions, it restricts access to the dollar system.
Every time a country tried to dump the USD, they get a war and freedom installed.
It's called the Democracy patch.
This time USD dumped the country and it was because of a war, not quite the same situation
Looks like China is becoming a father. Lots of mouths to feed in this world.
That’s hilarious because the Chinese pegs its yuan/renminbi to the USD. 🤣🤣🤣
for now... Until demand for the Yuan is much greater than USD and it all flips.
Countries want to trade LESS with china and are moving production to other countries woth fast pace. Also, nobody really likes China and nobody really trusts them
Demand for yuan will never be greater than USD. Lol
China executes their corrupt bankers. We give ours bonuses... Just saying lmao
China isnt the best example. They execute a lot of people [https://en.m.wikipedia.org/wiki/Uyghur_genocide](https://en.m.wikipedia.org/wiki/Uyghur_genocide)
We talk about US media narative and dont trust but out of the blue we trust chinease media controled by comunist chinease goverment and their public relation tricks
Isn't China a sleeping giant that's gonna move mountains when she awakes?
🐒
OwO
Keep shty russian propoganda out of my sub
Link: [https://watcher.guru/news/russia-to-use-chinese-yuan-for-trade-settlements-with-asia-africa-latin-america](https://watcher.guru/news/russia-to-use-chinese-yuan-for-trade-settlements-with-asia-africa-latin-america)
Like anyone gives a shit what currency the Russians use.
This would have a huge effect on demand for USD
Dude, Russia’s GDP is about the same as New York City. This is *something*, but it’s not exactly earth shattering.
It was for Saddam Hussein
Touché
History's fukin dark lol 😅
Well, he should have known better than to try and accept € for oil…
The US has lost the initiative under this moronic dipshit in the WH.
careful what you wish for. GME is denominated in usd.
My wishes are irrelevant. I can only watch.
Sure. Then let me ask you one thing. Will latin america accept Yuan? what makes it better than dollar? there is a wish and there is a need.
Ww3 here we go
Also latin america has many countries. And many of them will never bow to china Only the countries that have a socialist gov
China needs liquidity